Chile introduces market potential in Vietnam
(VOV) - Although Vietnam-Chile Free Trade Agreement came into effect as from January 1, 2014, investment and trade cooperation between the two countries still faces obstacles.
Together with the Governments’ determination, the business communities from the two countries should pay more effort to lift bilateral trade and investment cooperation into a new height.
These statements were made by Nguyen The Hung, Vice Director of the Vietnam Chamber of Commerce and Industry (VCCI) branch in HCM City at December 16 seminar to introduce Chile market.
Hung said Chile has established Free Trade Area with Vietnam. Bilateral trade between the two countries has grown stably, creating a firm foundation for investors, importers and exporters to actively approach their two markets.
Chile is strong in mining, metallurgy, fishing, red wine and food processing, which are products Vietnam need to import. Vice versa, Vietnam mainly exports footwear, garment, agricultural products, vegetables and fruit, wooden products and plastics to Chile.
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Nguyen Thanh Quang, a representative from Chile Consulate General in HCM City said Chile has stable politics, and transparent investment environment. The country’s major export markets are the US, China and Japan, which are gateway for Vietnamese products to penetrate not only Chile but also other countries.
Vietnamese businesses can invest in Chile’s potential fields, such as agricultural products, forest plantation, services, mining and metallurgy.
Over the past three years, Vietnam has balanced trade with Chile. For instance, two-way trade turnover last year hit more than US$530 million, of which Vietnam’s exports were nearly US$220 million and imports were more than US$310 million.
In the first ten months of this year, it grossed more than US$710 million, of which Vietnam’s exports were nearly US$420 and imports were more than US$290 million.