Connecting trade, bringing Vietnam’s agricultural, forestry and fishery products to Mexico

Pangasius is a product that Vietnam can take advantage of tax incentives in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to boost exports to Mexico. (Source: VnEconomy)

The conference aims to support localities, businesses and cooperatives that supply Vietnam’s agricultural, forestry, fishery and food products to strengthen their search for partners, connect business opportunities and export to Vietnam. Mexican market.

Nearly 60 Vietnamese and Mexican businesses have registered to participate in the conference, looking for opportunities to connect potential partners online and exchange and share information about the export potential of the two countries’ strong products. , some issues to know when doing business in each other’s market.

Enterprises participating in the Conference will be arranged by the Organizing Committee to arrange a trading schedule and guide the exchange at trading sessions by product group or business pair.

The conference included trading sessions for Vietnamese businesses to introduce and sell a variety of high-quality products to Mexican importers. In addition, the conference also dedicated a number of sessions to serve Vietnamese businesses looking for the supply of manufactured products such as electrical machines, electronic equipment, air conditioners, optical instruments, medical equipment… from Mexican manufacturers and traders.

Over the years, the trade relationship between Vietnam and Mexico has grown more and more. Every year, Vietnam’s export turnover to Mexico has a positive growth and the trade balance is always in favor of Vietnam.

According to statistics of the Ministry of Industry and Trade, in 2021, Vietnam’s export turnover to Mexico will reach US$4.61 billion, up 46.1% compared to 2020. The main export items include phones of all kinds and components, computers, electronic products and components, shoes of all kinds, aquatic products.

In the opposite direction, Vietnam’s import turnover from Mexico in 2021 will reach 500 million USD, down 4.5% compared to 2020. Imported products mainly include computers, electronic products and components. , machinery, equipment, tools, other spare parts., animal feed and raw materials. Thus, in 2021, Vietnam’s trade surplus to Mexico is more than 4 billion USD.

In the first two months of 2022, Vietnam’s exports to Mexico reached $673.3 million, up 18.5% over the same period. Vietnam’s imports from Mexico reached 95.3 million USD, up 14.2%. Vietnam had a trade surplus of nearly 600 million VND to Mexico in the first two months of this year.

Between Vietnam and Mexico, there is a Committee on Economic, Trade and Investment Cooperation, which operates effectively and has conducted 3 meetings. In particular, taking advantage of tariff preferences from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, of which Vietnam and Mexico are members, is an important lever to promote trade between the two countries.

Currently, many Vietnamese businesses are very interested in increasing trade exchanges with the potential Mexican market. This is an easy market with a large population and strong consumption power. However, regulations on indications of origin and food safety are still strictly controlled.

On the other hand, Vietnam’s export market share in Mexico has only reached a modest figure of about 1.3% and there is still plenty of room for further growth.

In recent years, Mexico has been promoting its strategy of opening up its economy. Along with consolidating trade relations with strategic partners, Mexico strongly promotes the search for new markets such as Latin America and Asia-Pacific to avoid relying too much on traditional partners. .

To support the open-door policy, in recent years, Mexico has made many important adjustments in the customs law such as: simplifying goods clearance procedures, applying electronic windows to automate many procedures. foreign trade custom. For sanitary and phytosanitary measures, for convenience, Mexico has built an electronic database so that stakeholders can access sanitary and phytosanitary requirements.

Some Vietnamese products that can take advantage of tax incentives in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to boost exports to Mexico include pangasius, basa, tuna, and rice. and textiles.

Each year, Mexico imports about 900 thousand tons of rice, $ 1.8 billion in textiles and $ 1.1 billion in footwear of all kinds.