Vietnam and Chile signed their FTA in November 2011. The document came into effect on January 1, 2014. This is the first FTA Vietnam has signed with a Latin American country.
The now possible bilateral trade between Vietnam and Chile bridges and strengthens their economies. The Vietnam-Chile Free Trade Council (VCFTA) at its first meeting in Santiago, Chile on November 3-4 figured out that during the first eight months of this year it reached 540.5 million USD, which stands for an increase of 55.3%. To show the strength of the export, it increased with 120% to 302.2 million USD, in comparison to the same period last year.
Many favorable conditions for goods from both countries are signed to meet demand of Chile such as: seafood, dragon fruit and other tropical fruit, and rice as well of Vietnam as salmon, poultry, beef and dairy products, etc…
Up to now, Vietnam is the second largest trader in Southeast Asia to the Chilean market after Thailand.
