At a MoU signing ceremony between the Vietnamese Ministry of Industry and Trade and the Ministry of Trade, Industry and Tourism of Colombia (Photo: MIT) The trip was part of a series ofbusiness matching events under the 2023 national trade promotion programme heldby the Ministry of Industry and Trade.
Addressing over 100 Vietnamese and Colombianenterprises at a workshop in Bogota on September 28, Deputy Minister ofIndustry and Trade Do Thang Hai said Colombia is currently the fifth largesttrading partner of Vietnam in Latin America, and the two sides target bilateraltrade at 1 billion USD by 2025. They hold much potential to become entrepôts ofcargo and investment flows connecting with others in the regions and the world.
Heexpressed his hope that as an active member of the Pacific Alliance, Colombiawill act as a bridge helping Vietnamese goods enter Latin America, includingmember countries of the alliance.
In return, Vietnam is ready to pavethe way for Colombian goods to expand presence in the Association of SoutheastAsian Nations (ASEAN) countries and the Asia-Pacific as a whole, Hai remarked.
Forher part, Soraya Caro Vargas, Deputy Minister of Trade, Industry and Tourism ofColombia, voiced her delight at the progress of bilateral trade in recentyears, especially amid the sustained coordination and mutual support atinternational organisations, multilateral forums, and inter-regionalcooperation mechanisms.
At the event, enterprises operatingin the textile - garment, handicraft, consumer goods, food, and oil and gas industriesfrom both countries met and sought cooperation opportunities.
OnOctober 2, a Vietnam - Chile business forum took place in Santiago with theparticipation of over 100 companies of the two countries. The forum updated participating companies oneach country’s policies, issued forecasts, and suggested measures for helpingenterprises access each other’s markets, maximise current incentives, and tapinto potential.
Vietnamese Ambassador to Chile Pham Truong Giang noted that bilateral economicand trade ties have been flourishing and producing positive results over the pastyears. Chile now ranks fourth among trading partners of Vietnam in LatinAmerica, after Brazil, Mexico and Argentina, while Vietnam is the biggesttrading partner of Chile in ASEAN.
He held that considering the twomarket sizes and openness to international trade, much room remainsfor economic, trade, and investment partnerships to develop on par withpotential. To facilitate bilateral trade and investment, apart from theGovernments’ will and policies, it is critically important to enhance theconnectivity between their enterprises.
Chilean businesses said Vietnamesegoods are becoming increasingly popular in this market thanks to good quality,diverse designs, and relatively competitive prices thanks to preferentialtreatment under the Vietnam - Chile Free Trade Agreement and the Comprehensiveand Progressive Agreement for Trans-Pacific Partnership (CPTPP)./.
VNA
