Chile values partnership with Vietnam
The website of the Library of the Chilean National Congress published an article on August 20 affirming that Chile and other Latin American countries consider Vietnam an increasingly important partner.
According to the website, the bilateral free trade agreement (FTA), which has recently become effective, will help Vietnam and Chile increase their two-way trade turnover.
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President Truong Tan Sang (R) welcomes Chilean President Sebastian Pinera Echenique |
Since the FTA was enforced in 2011, trade between the two countries has seen a year-on-year increase of 50 percent, reaching US$487 million. In the first half of 2012, bilateral trade hit US$176 million, which is up 85 percent over the same period last year.
Ms Marcela Sabat, a member of the Chile-Vietnam Congress Friendship Group of the Lower House, said that the FTA will offer investment opportunities for the Latin American country to penetrate Vietnam - an emerging market of 90 million consumers.
She quoted the Executive Vice-President of Chile’s Foreign Investment Committee, Matias Mori, who led the Chilean business delegation to the Vietnam-Latin America Trade and Investment Forum in Hanoi last July, as saying that Latin American countries are welcoming Vietnamese investors in energy, mining, food processing and infrastructure, as the Government of Vietnam has committed to investing around US$12 billion overseas.