Vietnam, Uruguay seek deeper trade ties in textiles, raw materials

Vietnam and Uruguay have agreed to expand economic, trade and investment co-operation, with greater market access and import-export diversification for garments, textiles, footwear and raw materials among the priorities discussed at the fourth session of their Joint Committee on Economic, Trade and Investment Co-operation in Hanoi on August 18.

The two countries also agreed to step up trade promotion, improve market access for businesses and work towards a successful first negotiating round of the Vietnam-MERCOSUR Preferential Trade Agreement (PTA), as per local media reports.

Bilateral trade reached $268.42 million in 2025, up 58.4 per cent from 2024. Vietnam’s exports to Uruguay rose 64.8 per cent to $179.92 million, while imports increased 46.8 per cent to $88.50 million.

In the first six months of 2026, two-way trade rose 21.8 per cent year on year (YoY) to $148.35 million. Vietnam’s exports surged 57.5 per cent to $106.52 million, while imports from Uruguay fell 22.7 per cent 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, reviewed co-operation in trade, investment, customs, agriculture, science and technology and other sectors.

The two sides viewed their trade structures as complementary, with Vietnam supplying industrial, electronic and consumer goods and Uruguay providing raw materials for Vietnam’s production and export activities.

Vietnam’s main exports to Uruguay include garments, textiles, footwear, machinery and equipment, phones and components, toys and sports equipment, computers and electronic products.

Uruguay’s major exports to Vietnam include textiles, garments, leather and footwear materials, wheat, animal feed, chemicals, wood products, dairy products, and other raw materials.

The two countries also agreed to explore co-operation in agriculture, customs, software, timber processing, renewable energy, innovation, culture, sports and tourism.

At the close of the meeting, officials signed the minutes of the fourth session and exchanged a memorandum of understanding between Vietnam’s Trade Promotion Agency and Uruguay XXI.

Source: Fibre2Fashion

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