Vietnam boosts trade, investment with Latin America

Latin America is a promising market for Vietnamese firms, experts said at the Vietnam-Latin America trade and investment forum in Ho Chi Minh City on Tuesday.

Deputy Minister of Industry and Trade Do Thang Hai said Latin America's economy is active and stable with abundant natural resources, adding that the region has recently become an important trade partner for Vietnam, with 20 percent annual growth. Experts said Vietnam's products can reach the Latin America to help diversify the export market, reduce pressure for traditional markets, and lower risk for Vietnamese enterprises. Vietnam is set to raise the bilateral trade to 18 billion USD and attract 3 billion USD of investment from Latin America by 2021.

The Chilean and Peruvian Ambassadors to Vietnam both said cooperation potential is great thanks to complementary advantages, adding that both sides need to increase information sharing to create more opportunities for enterprises and breakthroughs for the partnership.

Source: VOV5