Vietnam, Chile Prepare Free Trade Agreement

Hanoi, Jun 23 (Prensa Latina) The Government of Vietnam confirmed on Wednesday that this country will sign a free trade agreement with Chile in November during the 19th Forum Asia-Pacific Economic Cooperation Forum (APEC) in Hawaii.

The eighth and final round of negotiations ended last Saturday in Hanoi, where the parties completed the first treaty between Vietnam and a Latin American country.

The Vietnamese Ministry of Industry and Commerce explained that the agreement will promote trade exchange, expand the market and strengthen bilateral cooperation in all sectors.

According to official figures, trade between Vietnam and Chile increased by 37 percent annually, the most exported product at the moment is wine, although there is interest in metallurgy.

Vietnam ranks 42 among the recipients of Chilean products, mainly tuned bronze, wood, steel and paper pulp, among others.

Vietnam made a profit of $104 million USD last year on its exports of footwear, clothing and fish to Chile, reaching around 51 million USD so far this year.

Chilean Ambassador to Vietnam Fernando Urrutia told Prensa Latina that his country is very interested in expanding business with this country, the economic boom of which is widely recognized.

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