January 24, 2011
Chilean firms target Vietnam's seafood sector
A growing number of Chilean firms are seeking industry gateways to operate in Vietnam that includes the field of seafood and fruit production, said the Vietnam Trade Office in Chile.
Chile, in return, also encourages Vietnamese businesses to increase investment and trade cooperation with the country.
Vietnam now ranks 42nd among Chile's trade partners accounting for 0.16% of the country's total export value.
In the first seven months of 2010, export revenue from Vietnam to Chile reached US$49.9 million and that from Chile to Vietnam surpassed US$166 million.
Chile exports copper, pine wood, fish oil, paper pulp and wine and imports coffee, sport shoes, garment, rice from Vietnam.
Experts said that Vietnamese businesses will have a better chance to access the third markets which are already Chile's partners, such as Latin American countries and to enjoy preferential taxes and tariffs under the free trade agreements Chile has signed with many other countries.
As Vietnam abounds in natural minerals and resources and Chile is very experienced in mining, the Vietnamese Ministry of Industry and Trade should step up trade promotions and increase export earnings for mutual benefits.