Vietnam and Mexico Strengthen Bilateral Relations on 50th Anniversary of Diplomatic Ties

Strategic Insights -

Vietnam and Mexico are celebrating a half-century of diplomatic relations, marked by a strong foundation of trust, friendship, and cooperation. The two countries have maintained regular dialogue through various mechanisms, including regular political consultations and joint committees. Their bilateral trade has grown impressively, with an average annual increase of up to 10-15%, reaching over 15 billion USD in 2024, with Mexico being Vietnam's second-largest trading partner in Latin America and Vietnam being Mexico's second-largest trading partner in the Association of Southeast Asian Nations (ASEAN).

Key Takeaways:

  • Vietnam and Mexico have maintained regular and effective dialogue through various cooperation mechanisms, including political consultation at the deputy foreign minister level and a joint committee for economic, trade, and investment cooperation.
  • The two countries have coordinated and supported each other at international organizations, such as the United Nations and the Asia-Pacific Economic Cooperation (APEC).
  • Bilateral trade has grown impressively, with an average annual increase of up to 10-15% and a trade turnover of over 15 billion USD in 2024.
  • Mexico is currently Vietnam's second-largest trading partner in Latin America, while Vietnam is Mexico's second-largest trading partner in ASEAN.
  • The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has contributed to the growth of bilateral trade.
  • The Vietnam-Mexico relationship has achieved practical results in various fields, including politics, diplomacy, and trade.
  • The establishment of diplomatic relations between the two countries in 1975 has been viewed as a strong message of support for Vietnam's right to self-determination and national independence.
  • The Vietnam-Mexico friendship has been continuously strengthened and nurtured over the past half-century, becoming an exemplary international relationship.

Statistics:

  • Average annual increase of up to 10-15% in Vietnam-Mexico bilateral trade.
  • Bilateral trade turnover reached over 15 billion USD in 2024, up 27.5% compared to 2023.
  • Mexico is Vietnam's second-largest trading partner in Latin America.
  • Vietnam is Mexico's second-largest trading partner in ASEAN.

Sources:

  • "Vietnam and Mexico celebrate 50th anniversary of diplomatic ties", Vietnam News, 22 May 2025.
  • "Mexico's president affirms strong desire to strengthen ties with Vietnam", Vietnam News, 14 November 2024.
  • "Vietnam, Mexico sign agreement on economic cooperation", Xinhua, 19 May 2024.