Vietnam, Chile expect stronger economic and trade co-operation

VOV.VN - An online meeting held on August 4 between Deputy Minister of Industry and Trade Do Thang Hai and Rodrigo Yáñez Benitez, Under-Secretary for International Economic Relations at the Chilean Ministry of Foreign Affairs, with a view to enhancing economic and trade co-operation between the two nations.

The meeting was also held in the hope of boosting bilateral collaboration amid the ongoing novel coronavirus (COVID-19) pandemic, whilst also capitalising on the Vietnam-Chile Free Trade Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Both sides expressed their delight at recorded growth in last year’s figures for bilateral trade as Chile became the country’s fourth-largest partner in Latin America with revenue of US$1.23 billion, representing a year-on-year rise of 12.95%.

Most notably, the first half of the year saw bilateral trade reach close to US$568 million despite the serious impact of the COVID-19, a slight fall of 1.04% on-year.
The two officials suggested that enhancing supply chains as well as the production and export of face masks and protective gear could serve to intensify trade promotion activities both online and offline.

With regard to the CPTPP, Deputy Minister Hai expressed his hope that Chile will soon carry out procedures domestically in an effort to ratify the agreement, thus creating a new driving force for trade relations between the two sides, in addition to other signatories.

The Chilean official therefore proposed maintaining bilateral co-operation mechanisms to exchange information and bolster collaboration in terms of trade promotion, customs, e-commerce, and the digital economy.

Furthermore, Benitez asked the Vietnamese Deputy Minister to help promote future relations between Chile and ASEAN as the country is currently serving as ASEAN Chair for the year.