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Vietnam ready to beef up economic ties with Peru: Deputy Minister

Vietnam views Peru as an important partner in Latin America and stands ready to step up cooperation with the country to recover global trade and supply chains, said Deputy Minister of Industry and Trade Do Thang Hai.
Vietnam ready to beef up economic ties with Peru: Deputy Minister ảnh 1The second meeting of the Intergovernmental Commission on Economic Affairs and Technical Cooperation between Vietnam and Peru is held recently via video teleconference. (Photo: Ministry of Industry and Trade)

Hanoi (VNA) – Vietnam views Peru as an important partner in Latin America andstands ready to step up cooperation with the country to recover global tradeand supply chains, said Deputy Minister of Industry and Trade Do Thang Hai.

Theglobal economy is full of uncertainty so enhancing bilateral and multilateralrelations is critical to speeding up the global economic recovery, Hai told thesecond meeting of the Intergovernmental Commission on Economic Affairs andTechnical Cooperation between Vietnam and Peru, held recently via video teleconference.

Duringthe meeting, the two sides reviewed what had been done since the first meetingof the commission which took place in Lima in October 2017, and chalked outfuture plans to boost their multifaceted partnership, particularly in economy,trade and investment.

Bothsides spoke highly of the results of the two countries’ economic and traderelations in recent years despite the impacts of COVID-19. Data shows that Vietnam-Perutrade reached 633.8 million USD last year, a surge of 62% from 2020. It was thefirst time two-way trade had exceeded 500 million USD, making Peru Vietnam’s sixthlargest trade partner in Latin America.

Vietnamand Peru have together become signatories to a free trade agreement for thefirst time after they signed the Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP) with nine others in 2018. The trade dealentered into force in Peru on September 19, 2021, paving the way for expandingbilateral ties in trade and investment.

Giventhat their shares in each other’s markets remain modest, there is plenty ofroom for greater growth through the CPTPP.

DeputyMinister Hai asked Peru to provide continued support for Vietnamese investorscurrently doing business in Peru, and offer the best conditions for thoseplanning to invest in the Latin American country.

DeputyForeign Minister of Peru Enrique Chávez Basagoitia said the bilateralpartnership has been further reinforced through their accession to theAsia-Pacific Economic Cooperation (APEC), the Forum of East Asia-Latin AmericanCooperation (FEALAC), the CPTPP, and others

Haisuggested that now the COVID-19 pandemic is under control, authorities fromboth countries should increase market information exchanges and ramp up tradeand investment promotion events.

Bothsides later agreed to take measures to boost trade exchanges through theCPTPP, diversify import-export portfolios, foster trade of their key productsand facilitate market opening, especially for agricultural products.

Theyalso discussed the possibility of expanding cooperation in science-technology,fishery, health care and within multilateral frameworks.

Accordingto the Ministry of Industry and Trade, Vietnam-Peru trade rose by 79.1% from353.8 million USD in 2016 to 633.8 million USD in 2021.

ꦉ Vietnam’sexports to Peru soared 84.4% last year to 559.9 million USD. Key items includedphones, computers, electronics, footwear, clinker and cement, plastics, garmentsand textiles, and aquatic products./.

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Angolan President João Manuel Gonçalves Lourenço (L) and Vietnamese State President Luong Cuong at the farewell ceremony (Photo: VNA)

State President concludes visit to Angola

At their talks and meetings, President Cuong and Angola’s top leaders affirmed that the close brotherhood and traditional friendship are a valuable shared asset and a solid foundation for the two nations to advance into a new phase of development.
State President Luong Cuong poses for a commemorative photo with leaders of the ruling People’s Movement for the Liberation of Angola. (Photo: VNA)

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Under the guidance of Korean culinary instructor Kim Eun Ja, locals and tourists eagerly prepare kimchi using ingredients sourced from Da Lat. (Photo: VNA)

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Vietnamese State President Luong Cuong (L) and Angolan President João Manuel Gonçalves Lourenço (Photo: VNA)

Vietnam, Angola issue joint statement

The achievements of the five decades of Vietnam–Angola cooperation provide a strong and enduring foundation, as well as momentum for the two sides to consolidate, expand, and bring their partnership into a new phase of development.
Prime Minister Pham Minh Chinh addresses the 13th meeting of the Central Emulation and Commendation Council on August 8. (Photo: VNA)

🍨 Timely commendation of achievements helps fuel patriotism: PM

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National Assembly Chairman Tran Thanh Man addresses the “Meet Japan – Mekong Delta region” event in Can Tho city on August 8. (Photo: VNA)

🌳 Vietnam encourages Japanese firms to invest in key sectors: NA leader

Emphasising the need for sustainable, long-term collaboration, National Assembly Chairman Tran Thanh Man called on Japanese investors not only to bring in capital but also to share expertise and modern technology, especially in areas such as green transformation, the circular economy, and advanced corporate governance.
☕ Afternoon briefing on August 8

☕ Afternoon briefing on August 8

President Luong Cuong's activities during his state visit to Angola, the celebration of the financial sector's 80th traditional day, and the Foreign Ministry's flag-hoisting ceremony marking the 58th founding anniversary of ASEAN are among news highlights on August 8.
The ASEAN flag hoisting ceremony is an annual event organised on August 8 at the headquarters of the Ministry of Foreign Affairs to celebrate the founding anniversary of the regional bloc. (Photo: VNA)

♍ Flag-raising ceremony marks ASEAN’s 58th founding anniversary

The ASEAN flag-hoisting ceremony is observed by the 10 ASEAN member countries on August 8 every year, aiming to spread and promote the ASEAN identity and affirm the determination to unite and cooperate for the common aspiration of long-term peace and prosperity of Southeast Asian countries under the common roof of the ASEAN Community.
Vietnamese Minister of Foreign Affairs Bui Thanh Son (R) and Angolan Minister of External Relations Téte António. (Photo: vov.vn)

ඣ Vietnam, Angola seek stronger, more practical cooperation

At their meeting, which took place in the Angolan capital of Luanda on August 7 as part of State President Luong Cuong’s ongoing state visit to the African nation, the two officials also agreed to make full use of existing cooperation mechanisms, particularly the Vietnam – Angola Intergovernmental Committee, and step up exchanges of delegations at all levels.
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