Last updated: Wednesday, February 20, 2019


Making Vietnam-Chile Trade Relations Substantive

Posted: Tuesday, September 25, 2018

Vice President of the Vietnam Chamber of Commerce and Industry (VCCI) Doan Duy Khuong recently hosted a working meeting with Mr Manuel Ubilla, President of Chile Chamber of Commerce in Vietnam (CCCV), in Hanoi to further promote trade and investment ties between Vietnam and Chile. Despite vast room for growth, the two-way trade is as modest as over US$1 billion.

Dr Khuong said, in the light of the open-door economic policy and friendship policy, Vietnam is a trusted address for investors around the world. Vietnam and Chile have 47 years of diplomatic relations (1971 - 2018). Chile is one of the important trade gateways for Vietnamese goods to reach vast potential markets in South America. Although the two countries signed a free trade agreement (FTA), effective from 2014, their economic cooperation is still very limited, he admitted.

Therefore, in the coming time, the business communities of the two sides need more trade promotion programmes to explore the market and investment fields of each other. Particularly, Chilean investors can join in agricultural production and processing value chains of Vietnam, invest in clean energy and renewable energy among others, he emphasised.

CCCV President Manuel Ubilla said that investors in the South and Central Americas still lack information on the Vietnamese market and this becomes a barrier in investment promotion between the two sides. But with the Eastward Policy, the Chilean Government advocates importing agricultural products like tea, rambutan, mango, star apple and citrus; and other products such as electronic components and mechanical products from Vietnam - the second largest trading partner of Chile in Southeast Asia. In addition, if having a good business with Chile, Vietnam will easily access and tap other South American markets like Uruguay and Colombia.

To further affirm its intensive relations with Vietnam, CCCV wants to speed up young entrepreneur training in the coming time, hoping VCCI to have more cooperative supports for inspire innovative entrepreneurship and business for young generations of two countries, he said. On this occasion, VCCI and CCCV, respectively represented by Dr Khuong and Mr Ubilla, signed a bilateral cooperation agreement making the Vietnam - Chile relations more substantive.

Anh Phuong

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