According to the Ministry of Industry and Trade, in the first ten months of 2024, Việt Nam's trade value with the Americas region reached more than US$136.5 billion, an increase of 20.7 per cent over the same period in 2023.

The two leaders reaffirmed their commitments to advancing measures to increase bilateral investment in a responsible, sustainable, and inclusive manner, in accordance with principles of efficiency and integrity.

Despite several challenges, including global economic volatility, market competition and geographical distance, both Vietnam and Peru have plenty of opportunity to increase their trade by leveraging incentives from free trade agreements and cooperation mechanisms.

As members of two free trade agreements (FTA), there remains ample room ahead for both Vietnam and Chile to increase the trade turnover, including footwear products, according to insiders.

It has been five years since the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) came into effect, and Vietnam’s exports to countries in the pact have improved significantly. However, there is still much room and potential to further tap into this trade agreement in the future.

The US$3.5 billion mega-port of Chancay in Peru, set to be completed this year and expected to become a key logistics hub in Latin America, will open new opportunities for Việt Nam's logistics industry by enhancing maritime transport connections and facilitating trade between the two regions.

Vietnamese textile and garment exports to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) market during the initial eight months of the year recorded impressive growth, rising by 4.3% year on year to reach US$4.56 billion, reported the Vietnam Textile and Apparel Association (VITAS).

Indonesia has officially applied to become a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to boost its export growth.

Tariff preferences under the Comprehensive and Progressive Agreement for Trans-Pacific P\artnership (CPTPP) have given a significant boost to Vietnamese seafood exports to Australia.

In a US presidential election season defined by sharp differences over abortion, gun control, voting rights and other social issues, trade policy has so far got short shrift.