Vietnam, Chile seek to foster economic, trade cooperation

06/08/2020    169

Deputy Minister of Industry and Trade Do Thang Hai on August 4 held a virtual meeting with Rodrigo Yáñez Benitez, Under-Secretary for International Economic Relations at the Chilean Ministry of Foreign Affairs, to boost economic and trade cooperation between the two countries.

The meeting aimed at promoting bilateral collaboration amid COVID-19, taking full advantage of the Vietnam-Chile Free Trade Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Both sides expressed their delight at growth in bilateral trade in 2019, as Chile became Vietnam’s fourth-largest partner in Latin America with revenue of 1.23 billion USD, up 12.95 percent year-on-year.

Notably, two-way trade then reached nearly 568 million USD in the first half of 2020 despite the serious impact of COVID-19, down just 1.04 percent year-on-year.

The two officials proposed intensifying supply chains as well as the production and export of face masks and protective gear, and to step up trade promotion activities both online and offline.

Regarding the CPTPP, Hai expressed his hope that Chile will soon carry out procedures domestically to ratify the agreement and create a new driving force for trade relations between Chile and Vietnam in particular and between other signatories in general.

The Chilean official suggested maintaining bilateral cooperation mechanisms to exchange information and foster collaboration in trade promotion, customs, e-commerce, and digital economy.

He asked Vietnam to help strengthen the relationship between Chile and ASEAN, given the country has assumed the ASEAN Chair for this year.

Source: Vietnam Plus