Mercosur and Vietnam Launch Trade Negotiations

On August 24, 2026, representatives of Mercosur and the Socialist Republic of Vietnam formally launched in Buenos Aires negotiations aimed at concluding a trade agreement. As we anticipated in this publication when analyzing the potential of Vietnam as a strategic destination for Argentine products, the bilateral relationship has now escalated to the bloc level, setting an important precedent for Mercosur's international integration in the Indo-Pacific region.

A first round that defines the negotiating architecture

With a population of close to 100 million, a GDP growth rate that has remained above 6% per year over the last decade and a strategic position in manufacturing global value chains —particularly in electronics, textiles and footwear—, Hanoi today represents one of the most dynamic hubs of the Asian economy, as it has benefited from the US nearshoring policy. Its membership in ASEAN, the RCEP agreement and the CPTPP also grants it preferential access to markets that together account for more than 60% of global GDP, which makes any agreement with Vietnam an indirect gateway to a broader market. The productive complementarity between Mercosur and Vietnam becomes evident when examining the structure of bilateral flows. The South American bloc predominantly exports agricultural commodities —soybeans, corn, beef, sugar, hides— and industrial inputs, while Vietnam increasingly demands raw materials for its manufacturing base and animal protein for a rapidly expanding middle class. In the opposite direction, Vietnam offers consumer durables, electronics and intermediate goods that Mercosur imports at competitive costs.

The Argentine bilateral precedent and the logic of escalating to the bloc

As we anticipated in our coverage of Argentine sugar as a product with potential in the Vietnamese market, there was already growing bilateral interest. Taking advantage of this new momentum requires business leaders to analyze this new market and its potential.

Sources

1. Pulso Internacional — Vietnam as a new market for Argentine sugar
2. Argentine Ministry of Foreign Affairs (MRECIC) — The Argentine Ministry of Foreign Affairs hosted the first round of negotiations for a Mercosur-Vietnam trade agreement
3. Infobae — Mercosur and Vietnam began negotiations toward a trade agreement (August 27, 2026)