Vietnam, Chile Promote Trade, Investment Cooperation

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Ambassador Pham Truong Giang introduces Vietnam's investment cooperation opportunities at the seminar. (Photo: VOV)

In his open address, Ambassador Pham Truong Giang affirmed that one of the primary tasks of the embassy is to act as a bridge to promote 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 aims to help Chilean businesses, especially small and medium enterprises, better understand the socio-economic situation, historical and cultural traditions of Vietnam, so as to seek investment cooperation opportunities, he said.

Representatives of Vietnamese agencies in Chile introduced an overview of economic and trade relations between the two countries as well as Vietnam’s business and investment environment. They revealed that a number of new products, including Vietnamese pomelo and Chilean cherry, have been licensed to enter each other’s markets.

For his part, Manuel Ubilla Espinoza, President of the Chile-Vietnam Chamber of Commerce, spoke highly of Vietnam’s development achievements, and expressed his desire to contribute to strengthening bilateral trade relations. He said he will continue to coordinate and organize activities to help narrow the geographical distance, language and cultural differences, and at the same time increase mutual understanding between the business communities of the two countries.

Since the Vietnam - Chile free trade agreement took effect in 2014, bilateral trade ties relations have increased threefold with a total two-way trade turnover reaching 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 at reasonable prices from Chile such as copper, wood, and pulp. Some traditional high quality Chilean consumer products like wine, fresh fruit, and salmon have gradually become favourites with Vietnamese consumers.

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