(Photo: danvan.vn)

Strengthening relations with Latin American countries

President Luong Cuong’s visit to Chile will be the first by a Vietnamese President in 15 years. It will coincide with the 55th anniversary of the historic meeting between President Ho Chi Minh and late President Salvador Allende, an event laying the foundation for Chile to become in 1971 the first South American country to establish diplomatic relations with Vietnam. Over the years, Vietnam-Chile relations have progressed significantly, with two-way trade turnover increasing fourfold to 1.5 billion USD in 2023.

Chile is one of Vietnam's leading partners in the region, and in 2014 became the first Latin American country to sign a free trade agreement with Vietnam. President Cuong’s visit will breathe new vitality into Vietnam-Chile relations.

President Cuong’s visit to Peru will be a historic milestone as the two countries celebrate the 30th anniversary of diplomatic relations this year. It will contribute to consolidating the good political relations between the two countries and elevate cooperation to a new level.

Peru is the largest recipient of Vietnam’s direct investment and Vietnam’s 6th largest trading partner in Latin America. Vietnam is Peru's largest trading partner in ASEAN. Bilateral trade turnover reached nearly 500 million USD last year, and 300 million USD in the first 7 months of this year.

Conveying the message of Vietnam’s rising era

The 2024 APEC Economic Leaders’ Week in Peru is an opportunity for President Luong Cuong to meet with APEC leaders, including many comprehensive strategic partners and strategic partners of Vietnam.

As the event will take place on the 35th founding anniversary of the APEC Economic Leaders’ Week, Mr. Cuong’s attendance will affirm Vietnam's active and responsible contributions to solving regional and global issues, especially promoting international economic integration, generating new momentum for regional growth, and continuing to consolidate APEC's role as the leading economic forum, which gathers a third of the world's largest economies, and accounts for about 77% of trade, 81% of foreign direct investment, and 85% of tourists to Vietnam.

As Vietnam will host the APEC Economic Leaders’ Week in 2027, this is an opportunity for Vietnam to promote the APEC Vision to 2040 that Vietnam initiated and has implemented with other members since 2017.

This year’s summit takes the theme "Empower-Include-Grow" with 3 priorities: trade and investment for inclusive and connected growth; innovation and digitalization to transit to a formal economy and a global economy; and sustainable growth for resilient development.

APEC's priorities are completely consistent with Vietnam's development orientation. Vietnam can cooperate with APEC members on e-commerce, women's empowerment, climate change response, sustainable and inclusive growth, support for small and medium-size enterprises, promoting resilient supply chains, among others.

The Vietnamese President will spread the message of Vietnam’s aspiration to rise up in the new era and its major orientation on development, foreign affairs, and international integration, in which the Asia-Pacific region and APEC are among the top priorities. He will also call on APEC members and the business community to accompany Vietnam in realizing the goal of becoming a high-income, developed country by 2045.

President Luong Cuong's participation in the APEC Economic Leaders’ Week and official visits to Chile and Peru are important steps in implementing Vietnam's consistent foreign policy, creating new impetus for the Vietnam-Chile Comprehensive Partnership and the Vietnam-Peru multifaceted cooperation, and affirming Vietnam's new mindset, increasing role, and position in Asia-Pacific and the world.