Trade with Colombia and Chile enhanced

(VEN) - Economic, trade and investment relations between Vietnam and Colombia and Chile have the huge potential for development. Tapping this potential needs connectivity between business communities, apart from efforts by authorities of relevant parties.
 Direct trade exchange between Vietnamese and Colombian businesses - photo: Ministry of Industry and Trade
Direct trade exchange between Vietnamese and Colombian businesses - photo: Ministry of Industry and Trade

A gateway to Latin American markets

Seventeen Vietnamese enterprises visited Colombia and Chile from September 26 to October 3 with a view to further tapping into the Pacific Alliance markets, comprising Chile, Colombia, Mexico and Peru, and others in Latin America. The trip was part of a series of business matching events under the 2023 national trade promotion program held by the Ministry of Industry and Trade (MoIT).

Deputy Minister of Industry and Trade Do Thang Hai expressed his hope that as an active member of the Pacific Alliance, Colombia will act as a bridge helping Vietnamese goods enter Latin America, including member countries of the alliance. In return, Vietnam is ready to pave the way for Colombian goods to expand presence in the Association of Southeast Asian Nations (ASEAN) countries and the Asia-Pacific as a whole, Hai remarked.

He said Colombia is currently the fifth largest Latin American trade partner of Vietnam, and the two sides target bilateral trade of US$1 billion by 2025. The General Department of Vietnam Customs’ data show that the Vietnamese-Colombian trade hit US$742 million in 2022, an increase of 11.4 percent over 2021. Vietnam mainly exported phones of all kinds and components, fibers and yarns of all kinds, machinery, equipment, tools and spare parts, computers, seafood, and textiles and garments, and imported textile-garment and leather and footwear materials, wood and wood products, plastic materials, foods and foodstuffs, and pharmaceuticals.

The two countries' economies are complementary and they hold much potential to become entrepôts of cargo and investment flows connecting with others in the regions and the world, Hai said.

Huge potential for Vietnam-Chile economic cooperation

Vietnamese Ambassador to Chile Pham Truong Giang noted that bilateral economic and trade ties have been flourishing and producing positive results over the past years. Vietnamese goods are becoming increasingly popular in this market thanks to good quality, diverse designs, and relatively competitive prices thanks to preferential treatment under the Vietnam-Chile Free Trade Agreement (VCFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

According to the General Department of Vietnam Customs, the bilateral trade value reached US$2.15 billion in 2022 (up nine percent from the previous year), including Vietnam's exports worth US$1.72 billion (up 4.1 percent) and the country’s imports worth US$431.9 million (up 34.3 percent). It has almost quadrupled since 2013 before VCFTA took effect on January 1, 2014.

Ambassador Pham Truong Giang held that considering the two market sizes and openness to international trade, much room remains for economic, trade, and investment partnerships to develop on par with potential. To facilitate bilateral trade and investment, apart from the Governments’ will and policies, it is critically important to enhance the connectivity between their enterprises.

The Ministry of Industry and Trade will further strengthen trade promotion and business connectivity to increase exports to Colombia and Chile, as well as other Latin American markets, and at the same time promote information system solutions and provide early warnings for businesses, as well as help businesses deal with arising problems and trade barrier-related risks.

The ministry will work with other ministries and sectors to increase connectivity and seek cooperation opportunities for businesses, and promote economic, trade and investment cooperation between Vietnam and Colombia and Chile.

According to the Ministry of Industry and Trade’s European-American Market Department, this is the first time a large-scale Vietnamese business delegation had direct trade connection activities with Colombian and Chilean businesses, distributors, retailers and importers. This event will pave the way for bringing Vietnamese-Colombian and Vietnamese-Chilean bilateral relations to new heights.
Khanh An

See also

Ministry ready to support partnerships between Vietnamese, Belgian firms

Ministry ready to support partnerships between Vietnamese, Belgian firms

The Ministry of Industry and Trade (MoIT) and relevant ministries and sectors of Vietnam are ready to work with the Belgian side to effectively support cooperation activities between the two countries’ enterprises, Minister Nguyen Hong Dien told a bilateral business forum in Brussels on December 1.
FTAP provides updates on imports, exports

FTAP provides updates on imports, exports

(VEN) - The Free Trade Agreement Portal (FTAP) introduces publications and documents pertaining to Vietnam’s trade with its FTA partners.
Agreement offers RoK market opportunities for Vietnamese goods

Agreement offers RoK market opportunities for Vietnamese goods

(VEN) - Free trade agreements (FTAs), including the Regional Comprehensive Economic Partnership (RCEP) Agreement, are offering increasingly more opportunities for Vietnam and the Republic of Korea (RoK) to develop bilateral trade relations.
Ample room remains for Vietnam-China trade: Meeting

Ample room remains for Vietnam-China trade: Meeting

The 12th meeting of the Vietnam-China Economic and Trade Cooperation Committee took place in Hanoi on November 27 under the co-chair by Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Chinese Commerce Minister Wang Wentao who is on an official visit to Vietnam from November 25 – 28.
FTA Index creates new impetus

FTA Index creates new impetus

(VEN) - The free trade agreement index (FTA Index) is expected to create an impetus for localities to help businesses effectively take advantage of FTAs.
Vietnam, Denmark cooperate in developing green agriculture

Vietnam, Denmark cooperate in developing green agriculture

Vietnamese and Danish officials, experts and enterprises in the agriculture and food sector shared experience and had dialogue on the application of technology and solutions in green agriculture and food production at a seminar held in Ho Chi Minh City on November 22.

See more news

Vietnam, Japan urge industrial, trade & energy cooperation

Vietnam, Japan urge industrial, trade & energy cooperation

(VEN) - At the sixth meeting of the Vietnam-Japan joint committee on cooperation in industry, trade and energy that took place in Hanoi on November 3, Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Japanese Minister of Economy, Trade and Industry Nishimura Yasutoshi reaffirmed the importance of the joint committee in tackling difficulties and ensuring stable and continuous development of bilateral trade and investment ties.
Trade remedy column launched on FTAP

Trade remedy column launched on FTAP

(VEN) - The Ministry of Industry and Trade (MoIT) has begun providing the latest information about trade remedies in foreign markets through the Free Trade Agreement Portal (FTAP).
FTAP provides comprehensive information about FTA implementation plans

FTAP provides comprehensive information about FTA implementation plans

(VEN) - The Vietnam Free Trade Agreement Portal (FTAP) is providing access to plans of ministries, sectors and localities on implementing free trade agreement (FTAs), which include extremely useful information for businesses.
PM hosts Romanian Minister of Economy, Entrepreneurship and Tourism

PM hosts Romanian Minister of Economy, Entrepreneurship and Tourism

Prime Minister Pham Minh Chinh received in Hanoi on November 20 Romanian Minister of Economy, Entrepreneurship and Tourism Stefan-Radu Oprea who is in Vietnam for the 17th session of the Vietnam-Romania Joint Committee on Economic Cooperation.
Vietnamese, Chinese localities discuss economic corridor cooperation

Vietnamese, Chinese localities discuss economic corridor cooperation

Discussions on investment and trade, culture, tourism, health care, education, transportation and logistics, as part of the 10th conference on economic corridor cooperation involving Lao Cai, Hanoi, Hai Phong, Quang Ninh of Vietnam and China’s Yunnan province, took place in Hanoi on November 13.
Joint efforts to take RCEP opportunities

Joint efforts to take RCEP opportunities

(VEN) - Malaysia and Vietnam are both members of the Regional Comprehensive Economic Partnership (RCEP) agreement. This has created a favorable condition for the two countries to promote bilateral trade cooperation.
Vietnam, France to enhance industrial and trade relations

Vietnam, France to enhance industrial and trade relations

(VEN) - On the afternoon of November 13, Vietnamese Minister of Industry and Trade Nguyen Hong Dien had a meeting with the new French Ambassador to Vietnam Olivier Brochet.
Vietnam, Hungary increase direct trade promotion

Vietnam, Hungary increase direct trade promotion

(VEN) - The Vietnamese trade office in Hungary believes the EU-Vietnam Free Trade Agreement (EVFTA) will continue to open opportunities for Vietnamese businesses to boost trade with and investment in the EU market in general and Hungary in particular, and vice versa.
Learning about EVFTA through FTAP

Learning about EVFTA through FTAP

(VEN) - The EU-Vietnam Free Trade Agreement (EVFTA) is a new-generation FTA between Vietnam and 27 EU member countries. The EVFTA and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are the two FTAs with the highest-level commitments covering the widest range of fields, to which Vietnam is a signatory so far.
Expanding economic cooperation with Saudi Arabia

Expanding economic cooperation with Saudi Arabia

(VEN) - At the invitation of Saudi Arabian King Salman bin Abdulaziz Al Saud, Vietnamese Prime Minister Pham Minh Chinh led a delegation of high-ranking officials to visit the Kingdom of Saudi Arabia from October 18-20 to attend the first-ever summit between ASEAN and the Gulf Cooperation Council (GCC). Minister of Industry and Trade Nguyen Hong Dien joined the delegation and significant external relations activities.
View more
Latest Most Read
Kiên Giang strives for tourism to spearhead economy by 2030

Kiên Giang strives for tourism to spearhead economy by 2030

With abundant natural resources, and numerous scenic spots and historical sites, Kiên Giang Province has favorable conditions for investment, exploitation, and development of tourism, as it aims to make it the province's spearhead economic sector.
HCM City seeks to build “film city”

HCM City seeks to build “film city”

The first HCM City International Film Festival (HIFF) is scheduled to take place in early 2024 and is expected to contribute to the establishment of HCM City as a "film city."
Initiatives proposed to develop sustainable financial policies

Initiatives proposed to develop sustainable financial policies

The Vietnam Finance Forum 2023 themed “Financial Policies to Overcome Challenges towards Sustainable Development” was held in Quy Nhon city, the central province of Binh Dinh, on November 30.
Lang Son province wants to attract Korean investors: official

Lang Son province wants to attract Korean investors: official

Chairman of the People’s Committee of the northern province of Lang Son Ho Tien Thieu worked with representatives of companies and groups from the Republic of Korea (RoK) to discuss the implementation of Ho Son 1 industrial cluster project in Huu Lung district.
Vietnamese PM meets leaders of Cuba, WB, Sweden at COP28

Vietnamese PM meets leaders of Cuba, WB, Sweden at COP28

Prime Minister Pham Minh Chinh had separate meetings with Cuban President Miguel Diaz-Canel, President of the World Bank Group Ajay Banga, and Swedish PM Ulf Kristersson in Dubai on December 2, on the sidelines of the World Climate Action Summit at the 28th UN Climate Change Conference (COP28).
kien giang strives for tourism to spearhead economy by 2030

Kiên Giang strives for tourism to spearhead economy by 2030

With abundant natural resources, and numerous scenic spots and historical sites, Kiên Giang Province has favorable conditions for investment, exploitation, and development of tourism, as it aims to make it the province's spearhead economic sector.
hcm city seeks to build film city

HCM City seeks to build “film city”

The first HCM City International Film Festival (HIFF) is scheduled to take place in early 2024 and is expected to contribute to the establishment of HCM City as a "film city."
agricultural products rural tourism go hand in hand

Agricultural products, rural tourism go hand-in-hand

Even though the quantity may not be sufficient for large-scale exports, OCOP products bring significant material and cultural value. The most valuable way to 'export' OCOP products is when these items are favoured by international tourists and brought back to their home countries.
quang ninh welcomes first chinese cruise ship tourists in 2023

Quảng Ninh welcomes first Chinese cruise ship tourists in 2023

This is the first cruise taking Chinese tourists to Hạ Long since China reopened borders and resumed international tourism activities earlier this year.
new points in vietnams visa policy for foreigners

New points in Vietnam's visa policy for foreigners

Vietnam's new visa policies for foreigners are expected to be a "leverage" to attract a large number of international visitors for the tourism industry.
Ministry of Finance issues Circular 69 for reorganisation of securities market

Ministry of Finance issues Circular 69 for reorganisation of securities market

A new circular has been issued, aiming to improve market transparency in Viet Nam.
New legal documents in first half of November 2023

New legal documents in first half of November 2023

VEN lists the latest legal documents issued by the Vietnamese Government, ministries and state agencies.
Ministry proposes continued tax and fee cuts to promote economic growth

Ministry proposes continued tax and fee cuts to promote economic growth

The Ministry of Finance (MoF) has continued to submit proposals to competent authorities and implement policies within its authority to grant exemptions, reductions and extensions on taxes, fees and charges.
Việt Nam issues national strategy on antimicrobial resistance prevention and control

Việt Nam issues national strategy on antimicrobial resistance prevention and control

Việt Nam is one of the first six countries in Asia-Pacific to have developed and implemented a national action plan on antimicrobial resistance prevention and control, deputy health minister Trần Văn Thuấn said during an event in Hà Nội on Monday.
VIMEXPO 2023 promotes connections for development

VIMEXPO 2023 promotes connections for development

(VEN) - The fourth Vietnam International Supporting Industry and Manufacturing Exhibition (VIMEXPO 2023) took place in Hanoi from November 15-17. The event connected Vietnamese companies with multinational firms and foreign businesses in supporting, processing and manufacturing industries.
Footwear industry strives for new standards

Footwear industry strives for new standards

(VEN) - Sustainable development solutions are an extremely important condition to meet increasingly high standards from Free Trade Agreements (FTAs), including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) agreement. General Secretary of the Vietnam Leather - Footwear and Handbag Association (LEFASO) Phan Thi Thanh Xuan talked with Industry and Trade Newspapers’ Bao Thoa about this issue.
Developing the carbon market is key to green transition

Developing the carbon market is key to green transition

Low-carbon economic development towards a circular economy is becoming an inevitable tendency in the framework of the green transition with the creation and development of carbon markets seen as an increasingly crucial tool.
Development framework needed for wind power sales

Development framework needed for wind power sales

The Singapore Government approved in principle the sale of 1.2GW from a 2.3GW wind farm offshore Việt Nam but the latter must come up with a framework to implement the deal within the next year.
Lang Son province wants to attract Korean investors: official

Lang Son province wants to attract Korean investors: official

Chairman of the People’s Committee of the northern province of Lang Son Ho Tien Thieu worked with representatives of companies and groups from the Republic of Korea (RoK) to discuss the implementation of Ho Son 1 industrial cluster project in Huu Lung district.
FDI flows into Vietnam go up 14.8% in 11 months

FDI flows into Vietnam go up 14.8% in 11 months

Nearly 28.85 billion USD in foreign direct investment (FDI) was registered as of November 20, rising 14.8% year on year, reported the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
PM sets target of disbursing at least 95% of public investment capital this year

PM sets target of disbursing at least 95% of public investment capital this year

Prime Minister Pham Minh Chinh urged the acceleration of public investment disbursement, striving to disburse at least around 676 trillion VND (27.8 billion USD) or 95% of the target this year while chairing an online meeting in Hanoi on November 27 between permanent Government members and ministries, agencies and localities.
RoK seeks to strengthen investment in central localities

RoK seeks to strengthen investment in central localities

The Consulate General of the Republic of Korea (RoK) in the central city of Da Nang on November 24 held a conference on the expansion of investment cooperation between the RoK and central localities of Vietnam.
Initiatives proposed to develop sustainable financial policies

Initiatives proposed to develop sustainable financial policies

The Vietnam Finance Forum 2023 themed “Financial Policies to Overcome Challenges towards Sustainable Development” was held in Quy Nhon city, the central province of Binh Dinh, on November 30.
Banks increase capital through paying dividends in shares

Banks increase capital through paying dividends in shares

Many large banks are implementing plans to issue shares to pay dividends in the last months of this year.
New circular aims to improve stock market transparency

New circular aims to improve stock market transparency

The Ministry of Finance has issued a new circular which aims to improve stock market transparency in Vietnam. ​
Ministries, SBV requested to boost corporate bond, real estate markets: PM

Ministries, SBV requested to boost corporate bond, real estate markets: PM

Prime Minister Pham Minh Chinh has urged greater efforts to promote credit access, thus boosting corporate bond and real estate markets in a safe, healthy and sustainable fashion.
HCM City speeds up relocation of houses along canals

HCM City speeds up relocation of houses along canals

HCM City authorities are finding solutions to speed up progress of relocating houses along canals by 2025.
Power Generation Corporation 1 pushes for green slag dumps

Power Generation Corporation 1 pushes for green slag dumps

(VEN) - The Power Generation Corporation 1 (EVNGENCO 1) under the Electricity of Vietnam (EVN) has been taking a number of solutions to protect the natural environment such as promoting clean production, applying modern technologies, handling the ash and slag volume created during the power generation process, and “greening” slag dumps.
Project helps put forth biodiversity conservation in Da Nang

Project helps put forth biodiversity conservation in Da Nang

With an array of effective models and programmes put in place, a biodiversity protection and environmental sustainability project in Da Nang, funded by the EU, has made contributions to promoting biodiversity and helping local people develop livelihoods, heard a workshop held in the central city on November 24.
Environmental protection efforts augmented in Ha Long Bay

Environmental protection efforts augmented in Ha Long Bay

Environmental protection is viewed as a focal, consistent, and priority task during the management, preservation, and sustainable promotion of the world natural heritage site of Ha Long Bay, stated head of the bay management board Vu Kien Cuong.
Startup, innovation must be crucial political task PM

Startup, innovation must be crucial political task PM

Prime Minister Pham Minh Chinh has said startup and innovation must be considered as a crucial political task that contributes to promoting robust economic growth, enhancing competitiveness edge and efficiency of production and business, increasing labour productivity, and opening up a new development space.
Only 27% of organisations in Vietnam fully prepared to deploy AI

Only 27% of organisations in Vietnam fully prepared to deploy AI

Only 27% of organisations in Vietnam are fully prepared to deploy and leverage Artificial Intelligence (AI)-powered technologies, according to Cisco’s inaugural AI Readiness Index released this week.
Australia shares experience in innovation with Vietnam

Australia shares experience in innovation with Vietnam

Australian experts shared experience in innovation at a workshop held by the Vietnamese Ministry of Science and Technology (MoST) in Hanoi on November 22.
Engineer Do Hong Quang – idea initiator of BSR

Engineer Do Hong Quang – idea initiator of BSR

(VEN) - For years working at Dung Quat Oil Refinery as an operations supervisor, Engineer Do Hong Quang has contributed many ideas and initiatives worth more than VND1 trillion. With those contributions, Do Hong Quang was honored to receive the 4th Nguyen Duc Canh Award in 2023.
Nestlé Vietnam joins hands to build image of Vietnamese women in new era

Nestlé Vietnam joins hands to build image of Vietnamese women in new era

From the commitment of Nestlé to empowering women and enhancing women’s empowerment, and the mission of promoting gender equality of the Vietnam Women’s Union, the “Nestlé accompanyies women” program has been implemented by both parties from December 2020 in 9 provinces, and expanded in November 2022 in 21 provinces nationwide.
Bình Dương takes steps to become centrally-run city by 2030

Bình Dương takes steps to become centrally-run city by 2030

The southern province of Bình Dương has issued a socio-economic development plan, focusing on becoming a centrally-run city by 2030, alongside major centres of Hà Nội, HCM City, Hải Phòng, Đà Nẵng, and Cần Thơ.
Co-operation between member countries key to Mekong sub-region sustainability: forum

Co-operation between member countries key to Mekong sub-region sustainability: forum

Co-operation between its various countries is key to promoting sustainable development in the Mekong sub-region, speakers told a forum held last Friday in HCM City.
V-SCOPE project enhances coffee and pepper value chains

V-SCOPE project enhances coffee and pepper value chains

The V-SCOPE project contributes to enhancing the sustainability, economic value and value chains of coffee and pepper grown in the Central Highlands provinces of Gia Lai, Dak Lak and Dak Nong.
Nui Beo: The biggest raw coal miner of VINACOMIN

Nui Beo: The biggest raw coal miner of VINACOMIN

(VEN) - Although it was founded as an open-pit coal mine in the most difficult times, the Nui Beo Coal Joint Stock Company, a member of the Vietnam National Coal & Mineral Industries Holding Corporation Limited (VINACOMIN), has become a leading coal mining unit achieving a spectacular growth rate.
Dramatic transformation seen in Vinacomin-Materials Trading JSC

Dramatic transformation seen in Vinacomin-Materials Trading JSC

(VEN) - With the goal to become a logistics company providing technical services and advanced, innovative, and environmentally friendly science and technology solutions for the mining and energy industries in Vietnam, Vinacomin-Materials Trading JSC has been striving to make a dramatic transformation and affirm its position in the market.
Pioneer in mining technology research and application

Pioneer in mining technology research and application

(VEN) - The Institute of Mining Science and Technology (IMSAT) under the Vietnam National Coal and Mineral Industries Group has undergone more than 50 years of development and become a pioneer in research of coal and mineral mining, sifting and processing technologies.
Great efforts to overcome difficulties

Great efforts to overcome difficulties

(VEN) - The VMMI La Hien Cement Joint Stock Company is one of the oldest cement producers in Thai Nguyen Province. Bringing into play the consensus of employees, the company has maintained production and sales, ensuring stable jobs and incomes for its workers.
HCM City seeks to build “film city”

HCM City seeks to build “film city”

The first HCM City International Film Festival (HIFF) is scheduled to take place in early 2024 and is expected to contribute to the establishment of HCM City as a "film city."
Phú Yên pioneers in building film production index

Phú Yên pioneers in building film production index

"We believe that through cinematographic pieces, we can proudly promote the breathtaking scenic spots and profound culture of Phú Yên," said Phạm Đại Dương, Secretary of the Phú Yên Province's Party Committee.
Snail delicacies make Hà Nội unforgettable

Snail delicacies make Hà Nội unforgettable

There are many ways to prepare chả ốc, like steamed with lemongrass, wrapped in betel leaves, fried, or steamed in bamboo tubes.
Bắc Giang historical festival recognised as national heritage

Bắc Giang historical festival recognised as national heritage

The festival is a traditional historical and cultural event held annually in Bắc Giang City in the early spring, on January 6 and 7 of the lunar calendar, to commemorate the historical victory of Chi Lăng - Xương Giang in 1427.
Kiên Giang strives for tourism to spearhead economy by 2030

Kiên Giang strives for tourism to spearhead economy by 2030

With abundant natural resources, and numerous scenic spots and historical sites, Kiên Giang Province has favorable conditions for investment, exploitation, and development of tourism, as it aims to make it the province's spearhead economic sector.
Agricultural products, rural tourism go hand-in-hand

Agricultural products, rural tourism go hand-in-hand

Even though the quantity may not be sufficient for large-scale exports, OCOP products bring significant material and cultural value. The most valuable way to 'export' OCOP products is when these items are favoured by international tourists and brought back to their home countries.
Hon Thom Cable Car: A must-visit attraction in Phu Quoc, endorsed by international media

Hon Thom Cable Car: A must-visit attraction in Phu Quoc, endorsed by international media

The Hon Thom cable car is a must-try experience when visiting Phu Quoc Island. This iconic attraction has been widely praised by international media for its breathtaking views and is a popular choice among tourists.
Quảng Ninh welcomes first Chinese cruise ship tourists in 2023

Quảng Ninh welcomes first Chinese cruise ship tourists in 2023

This is the first cruise taking Chinese tourists to Hạ Long since China reopened borders and resumed international tourism activities earlier this year.
Mobile Version