State President’s visit to forge deeper ties with Chile, Peru

State President Luong Cuong’s official visits to Chile and Peru and attendance at the 2024 APEC Economic Leaders’ Week in Lima from November 9 – 16 will help consolidate the traditional friendship and enhance political confidence with the two nations and the Latin American region while deepening the relationship with the APEC member states, according to Deputy Foreign Minister Nguyen Minh Hang.

Charting new course in Latin America

In an interview with the Vietnam News Agency, Hang underscored the significance of Cuong’s first overseas trip since taking office, elaborating it is a bold step to carry out Vietnam’s consistent foreign policy of diversification and multilateralisation and affirm the nation as a trustworthy partner and a responsible member of the international community.

The trip will give impulse to make the Vietnam - Chile comprehensive partnership and the Vietnam - Peru multi-faceted cooperation develop in a more dynamic, substantive and effective fashion as well as strengthen the country’s position in the Asia-Pacific region and the world as a whole, she said.

According to Hang, this is the first visit to Chile by a Vietnamese State President in 15 years. It will coincide with the 55th anniversary of the historic meeting between President Ho Chi Minh and Chilean President Salvador Allende, a watershed that made Chile as Vietnam's first diplomatic partner in South America.

The bilateral relationship has flourished over the past years, particularly the economic sphere. Two-way trade has experienced remarkable growth, quadrupling over the past decade to reach 1.5 billion USD in 2023. Chile, the first Latin American nation to sign a free trade agreement with Vietnam in 2024, has been a leading important partner of the Southeastern country in the region.

Cuong’s visit is expected to bring a "new vitality" to the Vietnam - Chile relationship, particularly in areas where both countries still have significant potential for cooperation, she stated.

The Peru visit, Hang said, marks an unprecedented milestone as the first-ever visit by a Vietnamese State President to the nation. It will take place when the two nations celebrate their 30th anniversary of diplomatic relations, expected to consolidate the sound political foundation between them while improving cooperation efficacy in potential domains towards developing the bilateral ties to a new high.

She went on to stress that Peru has emerged as a crucial economic partner, becoming Vietnam's largest direct investor in Latin America and sixth-largest trading partner in the region. Bilateral trade reached nearly 500 million USD in 2023, and nearly 300 million USD in the first seven months of 2024.

Deepening ties with APEC members

The Vietnamese leader’s participation in the 2024 APEC Economic Leaders’ Week, which will coincide with the 35th anniversary of the establishment of the forum, will affirm the country’s positive contributions and responsibility to handle regional and global issues, especially accelerating the process of international economic linkage, create new motives for regional growth, and consolidate APEC’s roles as a leading economic bloc that accounts for 77% of Vietnam’s trade volume, 81% of the nation’s foreign direct investment flow, and 85% of the tourist arrivals, Hang said.

Vietnam, as the host of the event in 2027, will have an opportunity to concretise the APEC Vision 2040 that the country initiated and has developed with other members since 2017, she added.

Since its entry to APEC in 1998, Vietnam has made significant, responsible and effective contributions to delivering on the bloc’s cooperation targets and visions as well as enhancing the forum’s roles amidst challenges of the international economic cooperation and linkage.

Vietnam has proposed and launched nearly 190 initiatives and projects within APEC across various areas, including structural reform, human resources development, women’s empowerment, climate change response, food security and e-commerce, helping APEC adapt to international situations, catch up with new development trends, and affirm its indispensable role in promoting growth and economic integration in Asia - Pacific and the world.

Hang said, the country’s contributions have shaped APEC’s long-term vision, particularly the APEC Vision 2040 for a dynamic, resilient and peaceful Asia - Pacific community for the prosperity of all people and future generations.

At this year event, themed “Empower. Include. Grow.”, President Cuong will put forth strategic and breakthrough proposals to enhance the role and position of APEC in international economic cooperation and response to global and regional challenges.

Additionally, he will convey the message about the aspiration for the nation’s rise in the new era as well as the country’s orientations for development, foreign policy and international integration, with Asia - Pacific and APEC being top priorities. He will call on APEC member economies and the regional business community to continue supporting Vietnam in its goal to become a developed nation with high income by 2045, she added./.