FTAs boost Vietnam-Chile trade

Free trade agreements to which both Vietnam and Chile are signatories have given a boost to their bilateral trade ties, heard a virtual conference on September 23-24.

The event is jointly held by the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade (MoIT), the Trade Office and the Vietnamese Embassy in Chile, and the Chilean Chamber of Commerce in Vietnam.

With the participation of more than 50 enterprises from the two countries, the conference aims to help Vietnamese enterprises step up exports to Chile.

Statistics by the MoIT reveal that by the end of August, the two-way trade reached US$1.27 billion despite impacts of the COVID-19 pandemic, with Vietnam’s exports to Chile up 44% and imports up 15% year-on-year.

Vietnam mainly ships phones, components, machinery, equipment, footwear, and garment-textiles to Chile, while importing seafood, fruit and production materials from the South American country.

Le Hoang Tai, deputy head of Vietrade, said the conference gave businesses of both countries an insight into each other's markets, towards sustainable cooperation.

He said the Vietnamese Government has taken various measures to recover the economy like removing barriers in administrative procedures, promoting digitalisation, and creating optimal conditions for enterprises to join the global business network.

Source: Nhan Dan Online