Vietnam boosts cooperation with Canada, Chile

(VOVWORLD) -Vietnam on Wednesday welcomed Chilean President Michelle Bachelet and Canadian Prime Minister Justin Trudeau. The visits by the leaders were made at the invitation of President Tran Dai Quang and Prime Minister Nguyen Xuan Phuc.
Vietnam boosts cooperation with Canada, Chile - ảnh 1PM Nguyen Xuan Phuc welcomes PM Justin Trudeau in Hanoi, November 8, 2017. 

Vietnam established diplomatic ties with Chile in 1971 and with Canada in 1973. Over the years, Vietnam and Chile have maintained regular contacts and bilateral cooperative mechanisms like the Bilateral Free Trade Council and deputy minister-level political consultations. Chilean Ambassador Claudio de Negri told VOV:

“Chile was the second Latin American to establish diplomatic relations with the Democratic Republic of Vietnam. I believe Vietnam will continue to serve as a bridge linking Chile and Latin America as a whole with Southeast Asia. Chile’s future is inseparable from the Asia-Pacific region.”

Vietnam and Chile have signed cooperation agreements on economics, trade, science, technology, and visa exemption. A bilateral free trade pact took effect in 2014. Two-way trade jumped from 170 million USD in 2005 to more than 1 billion USD in 2016, making Chile one of four Latin American countries posting trade revenues of at least 1 billion USD with Vietnam.

“Vietnam and Chile are promoting trade ties, expanding export markets, and participating in the global value chain. We also seek cooperation opportunities in emerging areas, greater technology application in industry, and mutual support in economic development,” Ambassador Negri said.

Vietnam is Canada’s biggest trade partner in Southeast Asia and a priority of Canada’s Global Markets Action Plan. Bilateral trade totaled 4.1 billion USD in 2016. Canada ranks 14th of 112 countries and territories investing in Vietnam. Notable projects include the Ho Tram tourist complex in Ba Ria-Vung Tau province, a hospital in Hai Duong province, and a wind power plant in Ninh Thuan province.

Canada is one of Vietnam’s biggest ODA providers, focusing on economic reform, poverty reduction, agriculture, and the environment. Canada recently announced an ODA package of approximately 13 million Canadian dollars for a project to develop Vietnamese cooperatives until 2020. Canada’s existing ODA projects in Vietnam are worth 60 million Canadian dollars.