At the invitation of Peruvian President Dina Boluarte, President Luong Cuong will pay an official visit to Peru from November 12-14 and attend the Asia-Pacific Economic Cooperation (APEC) Summit Week from November 15-16.
"This is President Luong Cuong's first official visit to Peru and participation in a multilateral forum at the invitation of President Dina Boluarte. This is of great significance, demonstrating Vietnam's strong support for multilateralism in general, as well as the APEC process in particular," Vietnamese Ambassador to Peru Bui Van Nghi told VNA.
The Vietnamese Ambassador to Peru pointed out that Vietnam has actively and proactively contributed to the APEC Forum, helping to promote peace, stability, cooperation, regional economic connectivity, and maintaining APEC's role as the leading economic connectivity mechanism in the Asia-Pacific region.
According to the Ambassador, the official visit of President Luong Cuong to the Republic of Peru in the context of the 30th anniversary of the establishment of diplomatic relations between Vietnam and Peru "is an important milestone, reflecting the positive development of bilateral relations from the political - diplomatic to economic - trade fields, a historic opportunity, a driving force to further deepen the friendship and cooperation between the two countries".
Vietnam and Peru established diplomatic relations in 1994. Over the past 30 years, despite being geographically distant, the two countries have made significant strides in promoting political, diplomatic, economic, trade and investment relations.
"The official visit of President Luong Cuong to Peru aims to continue implementing the foreign policy of independence, self-reliance, multilateralization, diversification, proactive and active international integration, comprehensive and extensive international integration, and raising the level of multilateral diplomacy, demonstrating Vietnam's consistent policy of always attaching importance to and wishing to strengthen and promote relations with Peru to continue to go deeper, more practical and effective" - Ambassador Bui Van Nghi said.
Regarding economic, trade and investment cooperation, Vietnam highly appreciates the role of Peru and always considers Peru one of Vietnam's important partners and leading investment locations in Latin America. Bilateral trade turnover in 2023 between the two countries reached 486 million USD, and in the first 7 months of 2024 it reached 294 million USD. Viettel Military Industry and Trade Group and Vietnam National Oil and Gas Group have 2 investment projects in Peru with a total capital of 1.24 billion USD.
The Ambassador pointed out that Peru is a Latin American country where Vietnam has important investment projects, especially Viettel (Bitel), however, there is still much room for Vietnamese manufacturing and service companies to invest, taking advantage of the competitive conditions that both countries have, most recently the CPTPP Agreement has officially come into effect for Peru, becoming an important tool to increase trade in goods, services as well as investment between the two countries.
The Ambassador also said that there are opportunities to enhance the capacity and efficiency of goods exchange as well as open up opportunities in the field of logistics services between Vietnam and Peru such as: Zero tariff advantage for many different products, the large Chancay port in Peru is about to open in November 2024, helping to shorten the maritime transport time between Peru and Vietnam from 40 days to 25 days.
