Vietnam and Uruguay have agreed to strengthen economic, trade, and investment ties, focusing on improved market access and diversifying imports and exports of garments, textiles, footwear, and raw materials during the fourth meeting of their Joint Committee in Hanoi on Tuesday.
The two countries also agreed to intensify trade promotion efforts, enhance market access for businesses, and work towards a successful first round of negotiations on the Vietnam-MERCOSUR Preferential Trade Agreement (PTA), according to reports.
Bilateral trade between Vietnam and Uruguay climbed 58.4% year on year to $268.42 million in 2025. Vietnam’s exports to Uruguay increased 64.8% to $179.92 million, while imports from Uruguay grew 46.8% to $88.50 million.
During the first half of 2026, two-way trade rose 21.8% year on year to $148.35 million. Vietnam’s exports jumped 57.5% to $106.52 million, while imports from Uruguay declined 22.7% to $41.83 million.
The meeting, co‑chaired by Vietnamese Deputy Minister of Industry and Trade Phan Thi Thang and Uruguayan Deputy Foreign Minister Valeria Csukasi, assessed bilateral co-operation across trade, investment, customs, agriculture, science and technology, among other areas.
Both sides said their trade structures were complementary, with Vietnam exporting industrial, electronic, and consumer products, while Uruguay supplies raw materials used in Vietnam’s manufacturing and export sectors.
Vietnam’s key exports to Uruguay include garments and textiles, footwear, machinery and equipment, phones and components, toys and sports goods, as well as computers and electronic products.
The two countries also agreed to explore opportunities for co-operation across agriculture, customs, software, timber processing, renewable energy, innovation, culture, sports and tourism.
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