This marks President Luong Cuong’s first overseas trips in his new position. His visit, which is the first of a Vietnamese head of state to Chile in 15 years, takes place in the context that the two countries’ relations are experiencing positive growth. Vietnam and Chile established diplomatic relations on March 25, 1971, and in May 2007, elevated their ties to a comprehensive partnership. Despite the vast geographical distance, the two nations have maintained frequent exchanges at all levels, especially high-level ones, and cooperation mechanisms. They have actively collaborated through various international organizations and multilateral forums. Economically, Chile is Vietnam's fourth-largest trading partner in Latin America, while Vietnam is Chile's largest trading partner in ASEAN, with bilateral trade reaching USD 1.5 billion in 2023 and USD 1.29 billion in the first nine months of 2024, a 5% year-on-year increase.
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State President Luong Cuong leaves for the trips. Photo: VNA |
President Luong Cuong’s visit to Peru is a first official visit by a high-level Vietnamese leader. It takes place in the context that the two countries are celebrating the 30th anniversary of diplomatic relations (November 14, 1994 –2024). Vietnam - Peru relations have strengthened significantly in recent years, shown through frequent meetings between senior leaders of the two countries at international conferences. Both nations have also maintained regular political consultations and inter-governmental committee meetings. In trade and investment, Peru ranks as Vietnam’s sixth-largest trading partner in Latin America and hosts Vietnam’s largest direct investment in the region. In 2023, bilateral trade reached USD 486 million, and in the first seven months of 2024, it reached USD 294 million. Vietnam’s the Military Industry-Telecoms Group (Viettel) and Petrovietnam have invested USD 1.24 billion in Peru through two major projects.
In Peru, President Luong Cuong will lead the Vietnamese delegation to attend the 2024 APEC Leaders’ Week in Lima. Since its foundation in 1989, APEC has become a leading economic cooperation mechanism in the Asia-Pacific, fostering diverse, comprehensive cooperation among its 21 member economies. The 2024 summit, marking the 35th anniversary of APEC’s foundation day, provides a vital opportunity for members to review past achievements and shape future collaboration in the context that the world and regional situations continue to develop complicatedly and unpredictably. With the theme “Empowerment, Inclusion and Growth,” the host Peru focuses on trade and investment, innovation and digital transformation, and sustainable growth.
Since its participation in APEC 26 years ago, Vietnam has made actively and pro-active contribution to the forum, contributing to promoting regional peace, stability, cooperation, and economic integration. Vietnam has twice hosted APEC successfully and is one of the most active contributors of APEC initiatives and projects. The country has held several key APEC positions. Since the beginning of 2024, Vietnam has introduced many initiatives in structural reform, finance, science and technology, innovation, human resources development, tourism, agriculture, climate change response, and sustainable and inclusive growth. Vietnam currently chairs the APEC Structural Reform Agenda for 2026-2030 and is leading the development of the APEC Economic Policy Report 2025. Vietnam will also host APEC in 2027.
President Luong Cuong’s trips aim to further implement Vietnam’s foreign policy of independence, self-reliance, multilateralization and diversification of relations. It demonstrates Vietnam’s pro-activeness and activeness in integrating deeply and comprehensively in the world and elevating multilateral diplomacy, as guided by the spirit of the 13th National Party Congress, contributing to fostering peace, cooperation, economic integration, and regional connectivity, reflecting Vietnam’s consistent commitment to strengthening and enhancing deep, practical, and effective relationships with Chile and Peru.
It is believed that the trips by President Luong Cuong will be successful, creating new momentum to strengthen ties with Chile and Peru. In addition, his participation in APEC Leaders’ Week 2024 will be an opportunity for Vietnam to affirm its active, responsible role in APEC and expand cooperation with member economies.
Translated by Tran Hoai