Business

Vietnam eyes opportunities in Chile as gateway to South American markets

In 2024, two-way trade reached nearly 1.8 billion USD, with Vietnam’s exports, mainly seafood, coffee, rice, and cement, accounting for 1.4 billion USD.

Experts provide information about investment and business opportunities in Chile and South America at the seminar. (Photo: VNA)
Experts provide information about investment and business opportunities in Chile and South America at the seminar. (Photo: VNA)

HCM City (VNA) – Chile and South America offer promising opportunities for Vietnamese businesses looking to expand investment and trade, particularly in green and digital economic sectors, heard a trade promotion seminar held in Ho Chi Minh City on April 22.

The event, jointly organised by the HCM City Investment and Trade Promotion Centre (ITPC) and Chile’s Export Promotion Bureau (ProChile), highlighted the potential of Chile as gateway to South American markets, including Brazil, Argentina, and Peru.

Speaking at the event, ITPC Deputy Director Ho Thi Quyen noted that amid deepening global economic integration, Vietnam, particularly HCM City, is focusing on market expansion, trade diversification, and attracting foreign investment.

The Vietnam–Chile Free Trade Agreement (VCFTA), which took effect in 2014, along with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have created a favourable legal framework for bilateral cooperation, Quyen said.

In 2024, two-way trade reached nearly 1.8 billion USD, with Vietnam’s exports, mainly seafood, coffee, rice, and cement, accounting for 1.4 billion USD.

ITPC Deputy Director Ho Thi Quyen speaks at the trade promotion seminar on April 22. (Photo: VNA)

ITPC Deputy Director Ho Thi Quyen speaks at the trade promotion seminar on April 22. (Photo: VNA)

Quyen highlighted Chile as a transparent and stable investment destination, noting that with HCM City’s export turnover to Chile estimated at 53.3 million USD in 2024, there remains ample room for growth and broader cooperation.

Meanwhile, Bui Hoang Yen, who is in charge of the Ministry of Industry and Trade's Vietnam Trade Promotion Agency's Southern Office, noted that while 40.9% of exports to Chile used VCFTA tariff preferences in 2023, the CPTPP usage remained low at just 6.3%. She called on Vietnamese businesses to improve logistics and invest in technology to overcome trade barriers.

ProChile representative Pablo Arancibia encouraged Vietnamese exporters to diversify products and stabilise supply chains, noting that Vietnam’s presence in major South American markets remains limited.

Chile is emerging as a strategic investment hub in South America, offering Vietnamese firms opportunities in seafood, wood processing, and clean energy. As both a trade gateway and strategic partner, it supports Vietnam's market expansion in a region with a 4 trillion-USD GDP. Regular trade promotion and market support are the key to unlocking this potential, he said./.

VNA
#Chile #South American markets #trade promotion seminar #Vietnam–Chile Free Trade Agreement #trade promotion #CPTPP Chile Vietnam
Follow VietnamPlus

Post-pandemic recovery

Related News

State President Luong Cuong at the 31st APEC Economic Leaders' Meeting in Peru. (Photo: VNA)

State President’s Chile, Peru trip a success: official

Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son has affirmed the success of State President Luong Cuong’s attendance at the 2024 APEC Economic Leaders’ Week as well as his official visits to Chile and Peru.

Vietnamese State President Luong Cuong (R) and President of Chile Gabriel Boric Font (Photo: VNA)

Vietnam, Chile look to advance bilateral ties

Vietnamese State President Luong Cuong and President of Chile Gabriel Boric Font discussed measures to enhance the relationship between the two countries, making it more intensive, substantive, and pragmatic, towards advancing it to a higher level, during their talks in Santiago de Chile on November 11 morning (local time).

See more

Prime Minister Pham Minh Chinh (R) encourages workers and engineers at the Vietnam Exhibition Fair Centre project site. (Photo: VNA)

PM requests basic completion of Vietnam Exhibition Fair Centre in July

For the long term, PM Chinh stressed the need to develop the centre into a new symbol of Hanoi and the nation in terms of scale, culture, architecture, structure, environmental landscape, and governance, so as to reflect the national stature, worthy of the country's historical and cultural traditions, and especially to showcase its achievements after 40 years of ‘Doi Moi’ (Renewal).

Prime Minister Pham Minh Chinh (3rd from left) at the symbolic button-pressing ceremony to kick off the construction of the Tu Lien bridge in Hanoi on May 19. (Photo: VNA)

Prime Minister launches construction of Tu Lien bridge in Hanoi

PM Chinh stressed that the Tu Lien bridge will not only enhance connectivity and promote socio-economic development across Hanoi’s districts, but also link regional cities and provinces involved, national transport routes, and international gateways via Noi Bai and Gia Binh international airports.

The FBC ASEAN 2025 International Manufacturing Business Matching Event will take place from September 17–19 in Hanoi. (Photo: FBC ASEAN)

Vietnam to host int’l manufacturing exhibition in September

The exhibition gathers a significant number of manufacturers and buyers seeking suppliers in Vietnam, including major brands. The event continues to serve as a key platform for branding, trade promotion, and sustainable international business networking.

A corner of Ho Chi Minh City seen from above (Photo: nhandan.vn)

Efforts needed to enhance role of private sector in expanded HCM City

The resolution affirms that in a socialist-oriented market economy, the private sector is one of the most important driving forces of the national economy. On that foundation, the upcoming mergence of Binh Duong and Ba Ria–Vung Tau provinces into Ho Chi Minh City will create conditions to form a mega-urban region integrating industry, finance, seaports, and innovation.

Cuban President Miguel Díaz-Canel at a meeting with a delegation of Vietnamese businesses led by the Thai Binh Group. (Photo: VNA)

Cuba strengthens economic ties with Vietnamese businesses

Both sides discussed opportunities to expand cooperation in Cuba’s priority development sectors. The Vietnamese delegation reaffirmed its commitment to sustaining and expanding its operations in the Mariel Special Development Zone (ZEDM), a key driver of Cuba’s economic growth.

Deputy Minister Tran Thanh Nam (front line, in a red tie) takes a photo with representatives of German associations and businesses at the event. (Photo: VNA)

Vietnam explores agricultural partnerships in Germany

A major highlight of the visit was a trade promotion forum on Vietnam–Germany agro-forestry-aquatic products, which attracted participation from various trade associations, vocational training institutions, German distribution channels, supermarket chains, and nearly 50 companies specialising in the production, processing, and logistics of agricultural, forestry, and aquatic products.

Ministerial-level negotiation session between Vietnamese Minister of Industry and Trade Nguyen Hong Dien and US Trade Representative Jamieson Greer (Photo: VNA)

Vietnam, US promote negotiations on reciprocal trade agreement

Vietnamese Minister of Industry and Trade Nguyen Hong Dien and US Trade Representative Jamieson Greer reached a high consensus on principles, approaches, content orientations, and negotiation plans, thereby establishing a foundation for subsequent negotiation sessions to achieve positive outcomes.

Le Thanh Lam, CEO of TOPSKILLS, shares insights into the role of AI in modern HR management at the launch event of the AI-Powered TMS system in HCM City on May 16. (Photo: courtesy of the organisers)

AI helps businesses build resilient, adaptable succession teams

Experts said that in the context of digital transformation and AI increasingly becoming key drivers of business innovation, building a capable succession team—those who will lead the company toward sustainable growth—has become an urgent priority.

Prime Minister Pham Minh Chinh and Thai Prime Minister Paetongtarn Shinawatra witnessed the exchange of the MoU between the Ministry of Industry and Trade and Thailand's Central Group. (Photo: VNA)

MoIT, Thailand’s Central Group forge partnership to boost Vietnamese exports

The MoU, signed as part of Thai Prime Minister Paetongtarn Shinawatra’s official visit to Vietnam from May 15-16, was the result of extensive discussions between the two sides, aimed at enhancing the presence and competitiveness of Vietnamese products, particularly consumer goods, and agricultural and aquatic products.

Chu Lai Port welcomes the Chana Bhum, a Singapore-flagged vessel operated by RCL, marking the opening of the Chu Lai–India shipping route. (Photo: VNA)

Vietnamese firm, Thailand-based shipping line cooperate to launch Chu Lai - India direct call service

The direct call service helps cut transportation time, reduce costs, increase competitiveness by bypassing major transshipment ports in northern and southern Vietnam. At the same time, it opens up new trade opportunities, promotes logistics activities, develops supply chains, strengthens regional connectivity, and enhances the position of Chu Lai Port on the international maritime map.