Free trade agreements to which both Vietnam and Chile are signatories have given a boost to their bilateral trade ties, heard a virtual conference on September 23-24.
Hanoi (VNA) – Free trade agreements towhich both Vietnam and Chile are signatories have given a boost to theirbilateral trade ties, heard a virtual conference on September 23-24.
The event is jointly held by the Vietnam TradePromotion Agency (Vietrade) under the Ministry of Industry and Trade (MoIT),the Trade Office and the Vietnamese Embassy in Chile, and the Chilean Chamberof Commerce in Vietnam.
With the participation of more than 50 enterprisesfrom the two countries, the conference aims to help Vietnamese enterprises stepup exports to Chile.
Statistics by the MoIT reveal that by the end ofAugust, the two-way trade reached 1.27 billion USD despite impacts of theCOVID-19 pandemic, with Vietnam’s exports to Chile up 44 percent and imports,up 15 percent year-on-year.
Vietnam mainly ships phones, components, machinery,equipment, footwear, and garment-textiles to Chile, while importing seafood,fruit and production materials from the South American country.
Le Hoang Tai, deputy head of Vietrade, said theconference gave businesses of both countries an insight into each other's markets, towards sustainablecooperation.
He said the Vietnamese Government has taken various measuresto recover the economy like removing barriers in administrative procedures,promoting digitalisation, and creating optimal conditions for enterprises tojoin the global business network.
The event is jointly held by the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade (MoIT), the Trade Office and the Vietnamese Embassy in Chile, and the Chilean Chamber of Commerce in Vietnam. (Photo: VNA)
Vietnamese Ambassador to Chile Pham Truong Giangsaid since the Vietnam-Chile Free Trade Agreement took effect in 2014, the two-waytrade has expanded rapidly.
The deal has enabled Vietnamese firms to accessquality and affordable materials such as wood pulp and fish paste, and otherproducts like salmon and champagne, he added.
Giang suggested Vietnamese enterprises increaseexports to Vietnam in health care, fibers of all kinds, biodegradable bags, andropes for salmon farming. Meanwhile, Chile should step up the export of sawntimber and wood pulp to Vietnam.
There is still ample room for Vietnamese exportersin Chile – an open market with importtax among the lowest in the world, at below 2 percent, he said, adding thatthrough Chile, Vietnamese enterprises could also expand their operation in otherSouth American nations./.
Vietnam and Chile established diplomatic relations on March 25, 1971. Over the past five decades, the Vietnam-Chile comprehensive partnership has developed positively in all fields, especially in politics and economy-trade.
Chile’s Ministry of Foreign Affairs in collaboration with the Vietnamese Embassy held an event on March 25 to celebrate 50 years of the two nations’ diplomatic relations (March 25, 1971-2021).
Despite there being no commitments on services and investment in the Vietnam - Chile Free Trade Agreement (FTA), the pact has nonetheless been a boost to trade and economic ties between the two countries.
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Illustrative image (Source: VNA) 
The event is jointly held by the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade (MoIT), the Trade Office and the Vietnamese Embassy in Chile, and the Chilean Chamber of Commerce in Vietnam. (Photo: VNA) 
