At the invitation of Chilean President Gabriel Boric Font and Peruvian President Dina Ercilia Boluarte Zegarra, President Luong Cuong will lead a high-level Vietnamese delegation on an official visit to Chile from November 9-12.

Following this, he will make an official visit to Peru and attend the APEC 2024 Leaders’ Week in Lima from November 12-16.

This visit marks President Cuong’s first foreign mission as the head of the State of Vietnam.

Vietnam-Chile relations: Vietnam and Chile established a comprehensive partnership in May 2007. In recent years, both sides have engaged in multiple high-level exchanges, strengthening diplomatic ties.  

Bilateral trade has grown significantly, increasing from USD 534 million in 2013 (prior to the Free Trade Agreement) to USD 2.15 billion in 2022, with 2023 figures reaching USD 1.57 billion. In the first nine months of 2024, trade approached nearly USD 1.3 billion.

Chile is currently Vietnam's fourth-largest export market in Latin America, while Vietnam is Chile’s largest trading partner within ASEAN. The two countries maintain solid cooperation at international organizations and multilateral forums.

Vietnam-Peru relations: Vietnam and Peru established diplomatic relations on November 14, 1994, with frequent high-level exchanges characterizing their relationship.  

Bilateral trade has surged by 79.1% over the past five years, from USD 353.78 million in 2016 to USD 600 million in 2022. By 2023, trade reached USD 486 million, and in the first nine months of 2024, it stood at USD 289.6 million.

In terms of investment, Vietnam has two key projects in Peru: telecommunications, led by Viettel (the Military Telecommunications Group), and oil and gas, managed by the Vietnam Oil and Gas Group (PVN), with a combined investment exceeding USD 1 billion. Both countries actively support each other at the United Nations and other multilateral forums.

Asia-Pacific Economic Cooperation (APEC): Established over 30 years ago, APEC remains a premier platform for regional economic integration, championing economic liberalization, trade, and investment in the region and globally.  

APEC’s 21 member economies include major global powers like the United States, China, and Japan, along with nine G20 members and various dynamic emerging economies.

Together, APEC economies represent about 38% of the global population, contribute 61% of global GDP, and account for 47% of world trade.

Since joining APEC 26 years ago, Vietnam has been an active and positive contributor, fostering peace, stability, cooperation, and economic integration across the region.

Vietnam has notably led initiatives and projects within APEC and proposed to host APEC Year 2027, a suggestion that gained strong support from member economies and was included in the joint statement at APEC 2023.

Tran Thuong