Vietnam and Chile strengthen trade and investment cooperation

27/8/2021| 9:14

The Vietnamese Embassy in Chile and the Chile-Vietnam Chamber of Commerce have held a seminar to examine cooperation opportunities for 2021-2022 as part of the activities marking the 50th founding anniversary of Vietnam-Chile diplomatic relations.

 

Vietnam and Chile strengthen trade and investment cooperationAt the event (Photo: VNA) 

According to a VNA correspondent in Latin America, Ambassador Pham Truong Giang affirmed in his open address that one of the primary tasks of the embassy has been to act as a bridge in promoting trade and investment relations between the two countries over the years, especially following the establishment of the Vietnam-Chile comprehensive partnership in 2014.

The seminar aimed to help Chilean firms, particularly small and medium-sized ones, who are looking for partnership and investment chances in Vietnam, to understand more about the nation’s history and socio-economic and cultural affairs.

The Vietnamese side gave an overview on the bilateral trade and Vietnam’s business climate, sharing that Vietnamese pomelos have been allowed to enter the Chilean market, as have Chilean cherries to the Vietnamese market.

For his part, Manuel Ubilla Espinoza, President of the Chile-Vietnam Chamber of Commerce, expressed his wish to contribute to strengthening the countries’ trade ties and to organising activities that shorten the geographical distance, as well as the language and cultural differences, between them for improved mutual understanding.

After the Vietnam-Chile free trade agreement took effect in 2014, two-way trade between the sides grew 300% to reach US$ 1.2 billion in 2020. Many Vietnamese-made products have been exported to Chile, such as garments, electronic equipment and components, and farm products.

Vietnamese businesses can also access quality raw materials from Chile at reasonable prices, such as copper, wood, and pulp. Some traditional high quality Chilean consumer products like wine, fresh fruit, and salmon have gradually become favourites among Vietnamese consumers.

NDO

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