Vietnam’s ambition to be a major player in global economy is evident in its measured diplomatic forays into Latin America — where Vietnam plans to triple its exports to $6 billion over the next three years by extending economic ties well beyond its main Latin trading partners: Brazil, Cuba, and Mexico.
As part of that plan, Vietnam is among nine countries meeting in Dallas this week to complete the Trans-Pacific Partnership (TPP) agreement that would facilitate its trade with the US, Chile, and Peru, using the latter two countries as gateways to exports to South America.
Meanwhile, as the Council of the Americas summarizes, Vietnam has been quietly negotiating separate trade deals with:
- Cuba, with which Vietnam has a longstanding relationship because the countries share communist political ideologies.
- Venezuela, which signed more than 50 cooperation agreements last month and is in an oil partnership with Vietnam.
- Colombia, Paraguay, and Uruguay, which Vietnamese trade delegations visited earlier this year.
- Dominican Republic, with which Vietnamese investors have partnered to build a $60 million auto and motorcycle assembly plant.
- El Salvador, the site of a telecommunications partnership with Vietnam.
More on the Vietnam-Latin America connection