Mexican Ambassador: Economic relations between Mexico and Vietnam have promising future

Thursday, 08/02/2024 10:15
(CPV) - Mexico is currently the second largest trading partner after Brazil and Vietnam's largest export market in Latin America. On the occasion of the Lunar New Year of the Dragon, Mexican Ambassador to Vietnam Alejandro Negrin Muñoz shares with a reporter of Communist Party of Vietnam Online Newspaper about the bilateral relations, as well as plans to mark the 50 years of Vietnam – Mexico diplomatic relations in 2025.
Mexican Ambassador to Vietnam Alejandro Negrin Muñoz (Photo: MOIT) 

Reporter: Since Vietnam and Mexico established diplomatic relations in 1975, the two countries have maintained and reinforced their good political relations. Could you share about the most outstanding achievements in the friendly relationship between the two countries after nearly 50 years of diplomatic relations?

Mexican Ambassador Alejandro Negrin Muñoz: In 2025, Mexico and Vietnam will celebrate the 50th anniversary of diplomatic relations. We are going to arrive in excellent shape for that celebration. The strengthening and deepening of relations between Mexico and Vietnam, especially in recent years, has been impressive. First of all, I would like to highlight an impressive growth in bilateral trade, particularly after the entry into force of the CPTPP. In 2023, for example, bilateral trade exceeded 10 billion dollars and without a doubt Mexico is today the main market for Vietnamese products in Latin America. Second, we have two institutional mechanisms that meet regularly and work very well: a political consultation mechanism and a joint economic cooperation committee. Along with this, high-level dialogue has also been strengthened: in September 2023, our Foreign Ministers met in New York and also in 2023 we received a visit from our Vice Minister of Foreign Affairs in Hanoi. Thirdly, we observe constant and sustained reciprocal support for the aspirations of both countries in international forums and great coincidence on central issues on the international agenda. These 3 major elements constitute a concrete basis for Mexico and Vietnam to make a qualitative leap in their bilateral relations in the short term. Therefore, we hope that very soon the conditions will exist to raise the relationship to the level of Comprehensive Partnership and to sign a set of agreements in different areas that will allow bilateral relations to be further strengthened.

Reporter: Over the past year, trade and economic relations between Vietnam and Mexico have continuously expanded and developed, especially since the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was signed and officially came into force from the beginning of 2019. Would you please share, what measures should Vietnam and Mexico take to further promote bilateral trade cooperation between the two countries in 2024?

Mexican Ambassador Alejandro Negrin Muñoz: I would highlight some aspects. Broadly speaking, the CPTPP has been a platform for tremendous growth in bilateral trade. I think Vietnam has taken very good advantage of the CPTPP, in the context of its diversification strategy, in this case taking advantage of the potential of the North American market. I want to note that a very important part of Vietnam's exports to Mexico are parts of products that are in many cases finished in Mexico and re-exported to the North American market. Secondly, we must observe the notable deficit in trade relations between both countries: of the more than 10 billion dollars of trade in 2023, 97% corresponds to exports from Vietnam to Mexico and only 3% to Mexican exports to Vietnam. Therefore, it is very important that Mexican businessmen discover the Vietnamese market and continue to have the support of the Government of Vietnam for better access of Mexican products to this country. In the coming months we hope to present a business guide for Mexican businessmen interested in Vietnam, which the Embassy has developed together with the most important business organization in Mexico.

There is another very important aspect in our economic relations. We have observed a very initial flow of reciprocal investments. In 2023, we gladly saw the opening in Hanoi of an entertainment center by the Mexican company with global presence Kidzania. At the same time, in 2023 two Vietnamese companies opened subsidiaries in Mexico: FPT Software and Formula Air. This is the beginning of a flow of reciprocal investments that we hope will continue in the short term.

For these reasons, economic relations between Mexico and Vietnam have a promising future.

Reporter: Besides the good political-diplomatic and economic-trade cooperation that the two countries have achieved. How do you assess people-to-people exchanges between the two countries?

Mexican Ambassador Alejandro Negrin Muñoz: People-to-people exchanges stand as a vibrant pillar in the longstanding friendship between Vietnam and Mexico. Among other activities, the opening of the permanent exhibition of a replica of an Olmec Head in the Museum of Fine Arts in Ho Chi Minh City in 2023 and the showcasing of Diego Rodarte's exhibition in the same museum have been significant cultural milestones, capturing the imagination of both nations.

These events not only enriched our shared cultural tapestry but also fostered a deeper appreciation for our respective histories.

Also, the collaborative efforts between universities in Vietnam and Mexico have unveiled a wealth of potential to foster meaningful exchanges between students and academics from both nations. These initiatives have proven to be invaluable in enhancing mutual understanding and knowledge-sharing.

Looking ahead, it is crucial to build upon these successes, encouraging more cultural initiatives, educational programs and tourism exchanges.

By nurturing these connections, we lay the groundwork for a future where the citizens of Vietnam and Mexico can truly understand, appreciate, and celebrate the richness of each other's heritage.

Reporter: How do you assess the recent working visit to Mexico of a Vietnamese National Assembly delegation led by Senior Lieutenant General Tran Quang Phuong, Member of the Party Central Committee, Vice Chairman of the National Assembly, especially when the two countries are about to celebrate the 50th anniversary of diplomatic ties between Vietnam and Mexico in 2025?

Mexican Ambassador Alejandro Negrin Muñoz: I think that the diplomacy of the Communist Party of Vietnam and the National Assembly contribute very importantly to strengthening our relations. General Tran Quang Phuong's visit was very extensive as he met with different committees of the Chamber of Deputies and the Chamber of Senators, with representatives of parties, with the Government of Mexico City and with representatives of the Secretary of the Navy. I would also like to remember that in 2023 the Deputy Head of the Party Central Committee’s Commission for Internal Affairs also traveled to Mexico (October 5-6); the Head of the Central Party Committee's Commission for Popularization and Education (August 24-28) and the Vice Secretary of the Ho Chi Minh City Party Committee (March 19-22). I think that the CPV is playing a very active and extraordinarily positive role in relations with Mexico.

Reporter: In your term as an Ambassador to Vietnam, what do you wish to contribute to promoting bilateral relations between Vietnam – Mexico?

Mexican Ambassador Alejandro Negrin Muñoz: The objectives that I have been working on in my mission as Ambassador to Vietnam are to raise the level of bilateral relations and sign a set of agreements in different areas that allow those relations to be strengthened. In this context, the growth of economic relations and better access for Mexican products to the Vietnam market are also fundamental objectives. Another aspect is to maintain the regularity of our institutional dialogue mechanisms. In addition, we want to institutionalize cultural and academic cooperation schemes, including collaboration with the Spanish Center of the University of Hanoi, the Ho Chi Minh City University of Social Sciences and Humanities and the Vietnam Academy of Social Sciences as well as with private universities.

Wishing a joyous Tet to Vietnam, the Embassy of Mexico and myself extend a heartfelt New Year's greetings, fostering the spirit of happiness and prosperity between our nations.

Reporter: Thank you so much!

Bich Lien

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