Deputy Foreign Minister Nguyen Phuong Nga

In response to reporters’ questions about the upcoming event, Deputy Foreign Minister Nguyen Phuong Nga reaffirmed Viet Nam’s policy of developing comprehensive cooperation with Latin-American nations.

She said Viet Nam and Latin America have great potential for fostering cooperation in various fields, especially trade and investment.

Bilateral ties have seen constant growth over the past decade with two-way trade increasing 15 fold (from US $300 million in 2000 to US $4.5 billion in 2011), she cited, adding that in the context of international integration and economic links between East Asia and Latin America, both sides have enormous strengths that can supplement each other.

The Deputy FM said the Latin America’s huge demand for goods will give a boost to Viet Nam’s exports in exchange for a supply of materials, fuel, capital, and technology from that region.

In their strategic approach to the Asia – Pacific region, she said, Latin American countries attach great importance to developing relations with Viet Nam, which holds an important position in Southeast Asia thanks to its socio-political stability and dynamic economic growth.

Another factor that attracts foreign investors to Viet Nam, she added, is its large population of 90 million people and its active international integration.

There is high hope that the forum will create favorable conditions for participants to exchange information and seek measures to boost cooperation between Viet Nam and Latin American countries, Deputy FM said, adding that the decision to organize the forum has receive response from many Latin-American countries.

The forum will focus on three main themes including “Viet Nam - Latin America business investment and ideas for trade - investment promotion,” “Viet Nam - Latin America traffic connectivity, logistics, telecommunications and services” and “Viet Nam - Latin America partnership in agriculture and energy,” she revealed.

In preparation for the event, the first of its kind, the Foreign Ministry has set up an organizing board with the participation of representatives from related ministries and agencies, the Viet Nam Chamber of Commerce and Trade, and the Quang Ninh provincial People’s Committee to ensure the forum will be a great success, she said.