Chile is a potential export market for Vietnamese consumer goods, as the nation’s living standard has experienced significant growth in recent years, Ambassador to the country Pham Truong Giang has said.
Vietnamese Ambassador to Chile Pham Truong Giang (Photo: VNA)
Hanoi (VNA) – Chile is a potential export market for Vietnamese consumer goods, as the nation’s living standard has experienced significant growth in recent years, Ambassador to the country Pham Truong Giang has said.
Speaking to the Vietnam News Agency on January 17, the diplomat stressed that Chile was among the first Latin American countries to sign a free trade agreement (FTA) with Vietnam, and both nations have effectively utilised the pact. Their bilateral trade volume topped those recorded between other ASEAN member states and Chile during the 2019-2023 period.
President Vo Van Thuong (R) and former Chilean President Michelle Bachelet. (Photo: VNA)
In 2023, the export-import turnover between Vietnam and Chile exceeded 1.4 billion USD, down by over 15% from the previous year’s record high of 1.7 billion USD and roughly equivalent to that in 2021. Vietnam's key exports include various types of phones and components, computers, electronic products, machinery, textiles, garments, and footwear.
According to Giang, the Chilean market is not as stringent regarding product quality as the US, Japan, and EU countries, hence a significant advantage for Vietnamese exports.
Vice Chairman of the National Assembly Tran Quang Phuong (R) and Vice President of the Chilean House of Representatives Daniella Cicardini at their talks in Chile in December last year. (Photo: VNA)
Both countries also have substantial potential for cooperation in the green hydro and renewable energy sectors, such as wind and solar power. In Chile, renewable energy accounts for 40% of the total electricity production, with 13% of global green hydro coming from the country’s southern region.
Vietnamese businesses can also diversify their sources of production material supply through importing wood, copper, and lithium from Chilean partners.
Vietnam's key exports to Chile include various types of phones and components, computers, electronic products, machinery, textiles, garments, and footwear. (Photo: VNA)
Giving insightful observations into other aspects of the countries’ ties, the ambassador highlighted their sustained traditional cooperation and mutual support in international forums and activities. Currently, both are members of the United Nations Human Rights Council for the 2023-2025 term. In 2023, the sides organised numerous high-level meetings and exchanges on the sidelines of major international events. For this year, they plan to continue alternatingly organising deputy ministerial-level political consultations between their foreign ministries and a meeting of their free trade council./.
Vietnam highly values Chile’s role and always considers Chile one of its top important partners in the region, Minister of Industry and Trade Nguyen Hong Dien told Ambassador of Chile to Vietnam Sergio Narea during a reception in Hanoi on July 6.
With a continuous rise in bilateral trade in recent years, Chile has become the fourth largest trade partner and one of the biggest markets of Vietnam in the Latin American region.
Latin America is always one of the most important markets for Vietnam, an official of the Ministry of Industry and Trade (MoIT) told the recent Vietnam International Sourcing 2023.
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The country is willing to participate in collective efforts to promote cooperation and mobilise resources to advance the current priority issues of developing countries, such as trade, investment, infrastructure connectivity, making the most of scientific and technological advances for development, and people-to-people exchanges, Hang said.
During the negotiations, the US highly evaluated Vietnam’s goodwill and efforts, affirmed its appreciation for the bilateral relationship, acknowledged Vietnam’s proposals and concerns, and considered these an important basis for continuing discussions and moving towards a final agreement.
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The ministry has instructed Vietnamese representative agencies in Israel, Iran, as well as those in neighbouring countries, to closely monitor the situation and request local authorities to ensure absolute safety for Vietnamese citizens living, studying, and working in high-risk areas.
Vietnamese Ambassador to Chile Pham Truong Giang (Photo: VNA) 
President Vo Van Thuong (R) and former Chilean President Michelle Bachelet. (Photo: VNA) 
Vice Chairman of the National Assembly Tran Quang Phuong (R) and Vice President of the Chilean House of Representatives Daniella Cicardini at their talks in Chile in December last year. (Photo: VNA) 
Vietnam's key exports to Chile include various types of phones and components, computers, electronic products, machinery, textiles, garments, and footwear. (Photo: VNA) 
