Peruvian Ambassador: Vietnam serves as bridge between Asia and Latin America

In a recent press interview, Ambassador Portocarrero highlighted that Vietnam is actively strengthening its international standing and deepening ties with Latin America, with a foreign policy that prioritizes integration, national development, and partnership.

Enormous potential for trade and investment expansion

Referring to Resolution No. 59 on international integration in the new context, issued by Vietnam in 2025, the Ambassador praised it as a crucial strategic move that helps reshape foreign policy amid major global shifts.

Equating diplomacy with national defense and security elevates external relations into a daily imperative tied to concrete outcomes, including tech acquisition, foreign investment, market diversification, and digital transformation across economic, cultural, multilateral, and defense channels, she said.

Reflecting on Vietnam-Latin America relations in recent years, Ambassador Portocarrero noted positive momentum achieved through high-level meetings, conferences, and official visits, alongside steady growth in bilateral trade and investment.

Regarding Peru-Vietnam cooperation specifically, the Ambassador highlighted that the modernization of Callao Port and the construction of the Chancay deep-water port on Lima’s outskirts have cut shipping times to Asia from 40 days to 25 days, directly supporting Vietnam's market diversification strategy.

She emphasized that shared membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Asia-Pacific Economic Cooperation (APEC) forum unlocks substantial trade and investment opportunities.

The two economies have high trade complementarity, the diplomat noted. Vietnam requires minerals and fresh, high-quality agricultural produce from Peru, while Peru benefits from Vietnamese electronics and textiles. Peruvian enterprises are working to introduce signature products into Vietnam while expanding into new commodity lines.

Furthermore, with Peru serving as the primary destination for Vietnamese direct investment in Latin America, spearheaded by Viettel Peru (Bitel), this success stands as a model for future ventures. Peru's newly enacted legal framework for Private Special Economic Zones (2025-2026) is expected to attract additional Vietnamese investors, she added.

Bridge between Asia and Latin America

Marking over eight decades of Vietnam’s diplomatic service, the Ambassador congratulated Vietnamese leaders and the diplomatic sector on their growing role and influence on the international stage. Ambassador Portocarrero noted that Vietnamese diplomacy is becoming a pillar of stability and of regional and international cooperation through its active participation in multilateral organizations, guided by policies promoting sustainable development, the peaceful resolution of disputes, and respect for international law, values shared by Peru.

When asked about the changing perception of Vietnam in Latin America, the Ambassador said that this image has shifted from a foundation built mainly on historical and political ties toward diplomatic, economic, and trade cooperation, underpinned by high-level visits and expanding bilateral mechanisms.

Citing data from the International Trade Centre (ITC), Ambassador Portocarrero stated that trade between Vietnam and Latin America and the Caribbean quadrupled over a decade, rising from US$11 billion to nearly US$42 billion between 2015 and 2025.

Two-way trade between Peru and Vietnam alone tripled during this period, enabled by mechanisms such as APEC and the CPTPP, alongside Vietnamese investments in technology and telecommunications in the region, such as Viettel Group.

The Ambassador observed that Vietnam is viewed in Latin America as a reliable international partner that respects international law and supports multilateralism, while expressing hope that Vietnam will open additional diplomatic missions in the region to strengthen bilateral ties.

Regarding Vietnam's role in advancing South-South cooperation, Ambassador Portocarrero spoke very positively of Vietnam's efforts in promoting this cooperation and facilitating the exchange of experience among developing nations. She noted that for Peru, international technical cooperation is an important element of foreign policy, formalized in the National Policy on International Technical Cooperation through 2030 and managed by the Peruvian Agency for International Cooperation (APCI).

The Ambassador recalled that in 2025, Vietnam established the Working Group on South-South Cooperation in Agriculture under the Ministry of Agriculture and Environment. Peru values the similar development paths of both countries as they gradually transition from aid recipients to providers of knowledge and capability for other developing nations, with Peru engaging in Latin America and the Caribbean, and Vietnam drawing on its experience with African countries.

Peru highly appreciates Vietnam's role within ASEAN and its efforts to share development experience with countries in the region, while reaffirming her belief that Vietnam can serve as a bridge between Asia and Latin America, facilitating experience sharing among nations facing common challenges in sustainable development, food security, agriculture, climate change, digital transformation, and small and medium-sized enterprises (SMEs).

Therefore, according to the Ambassador, Peru identifies Vietnam as a potential partner for technical cooperation projects in areas where both countries possess complementary strengths. She added that relevant Peruvian agencies are coordinating closely with their Vietnamese counterparts to carry out these projects.

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