HA NOI (VNS)— Vietnamese exporters will now enjoy better conditions for exporting goods to Argentina, after the South American country decided to remove its non-tariff trade measures.

According to the Ministry of Industry and Trade, the Viet Nam Trade Office in Argentina said that on January 25, the Argentinean government abolished regulations requiring importers to apply for the foreign trade agency’s import certificates before trading commodities including paper, home appliances, footwear, garments and textiles, mechanics, automobiles, motors, and spare parts.

Most of these goods were previously subject to the maximum import tariff of 35 per cent.

The move comes as the Argentinean government moves to align itself with the policies of Mercosur – the South American Common Market including Argentina, Brazil, Paraguay, Uruguay and Venezuela – which aims to safeguard the region’s international trade balance in light of the global economic slowdown.

As one of the biggest nations in Latin America, with a population of over 40 million and huge demand for goods, Argentina is considered an attractive market for Vietnamese traders and investors.

Despite the negative impacts of ongoing economic turbulence, two-way trade turnover between Viet Nam and Argentina rose three per cent last year, reaching US$1.01 billion by the end of November 2012 according to Deputy Minister of Industry and Trade Tran Tuan Anh.

He added that $154.5 million of this figure came from Vietnamese exports.

Source: VNS