Peru is currently Vietnam’s sixth-largest trading partner in Latin America. However, the trade value, standing at 518 million USD, remains modest compared to the potential and real demand between the two complementary economies.
Leveraging the mega-port of Chancay in Peru as an optimal logistics solution, Vietnam can boost import-export turnover with Latin American partners, especially in the industrial and energy sectors.
Peru considers Vietnam an important partner in Southeast Asia, officials from Peruvian ministries and sectors told Vietnamese Ambassador to Brazil and Peru Pham Thi Kim Hoa during recent meetings with the diplomat.
Peru’s official ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to help boost trade between Vietnam and the South American nation.
Vietnam boasts huge potential to increase shipments to Mexico, Peru and Chile – the three Latin American nations having high tariff-reduction commitments under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Bitel, a subsidiary of the Viettel Military Industry and Telecomes Group in Peru, reported that its total revenue reached 274.2 million USD and profit before tax of 24.5 million USD in the first nine months of this year.
Bitel, a brand of the Viettel Military Industry and Telecoms Group (Viettel) in Peru, has recently carried out 5G tests in the American nation on the occasion of its fifth anniversary.
A delegation of six Peruvian aquatic businesses arrived in Ho Chi Minh City on November 7, beginning their tour of Vietnam to seek opportunities in the country.
Bitel, a telecom service of Vietnam's telecommunications group Viettel in Peru, reported a turnover of 201 million soles (59.2 million USD ) in the first half of the year.
Bitel telecommunication service provider, the Peru branch of Vietnam’s military-run telecom group Viettel, will invest an additional 250 million USD to increase its subscribers to 2.5 million people.
The Ministry of Industry and Trade and the Peruvian Ministry of Foreign Relations signed an agreement to establish an Inter-Governmental Committee on economic issues and technological cooperation.
