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Chile : Vietnam welcomes open gateway to the Latin American market

16/04/2014

From 1.1.2014 , many export items of Vietnam in Chile market will be exempt from import tax . This is the agreement signed between Vietnam and Chile under free trade agreements ( FTAs ) signed bilateral month 9/2011 .

In the field of economic cooperation with Chile , Tran Van Dinh , Vietnam Commercial Counsellor in Chile had some share around this problem .

- In early 2014, a Free Trade Agreement Vietnam - Chile came into force , he said how about a chance to promote export of Vietnam in this market ?

Free Trade Agreements - Chile Vietnam was signed on 11/11/2011 and officially went into effect on 01/01/2014 . In my opinion , this is a great opportunity for our goods penetrate deeper into this market . As soon as there is some effect of the Vietnam goods will immediately enjoy 0 % tax rate , such as footwear , handicraft goods , fertilizers , wood furniture , home appliances ...

The tax rate of 0 % is also creating competitive advantages for our products than other countries in the region have the same strength .

Besides, Chile as well as other markets in Latin America requires quality merchandise not too strict as the EU , should Japanese goods in Vietnam can absolutely satisfy even very good competition .

Since 2010 the past , exports from Vietnam to Chile consistently achieved over 20 % growth expected in 2013 will reach about $ 250 million . This is a good premise for us to raise the proportion of exports to this market .

Especially , when the Vietnam now has put the goods into the Chilean market is also capable of conquering all 33 markets of Latin America . This is really a great opportunity for our business .

- Could you tell me more about opportunities to exploit Latin American markets through commodity markets of Chile Vietnam ?

We can say Chile , Mexico , Peru , Colombia is the open market , there are degrees of freedom is very large commercial , currently contributing 50 % of the total import and export value of the sector . Recently it has established 4 Union Pacific, this is the largest trade organization , has resonated .

Currently, many Asian countries applying for membership of the informal organization . Chile also has Free Trade Agreement with the countries in the region . Thus, if Vietnam's goods can get into the Chilean market can also penetrate other markets in the Union Pacific and the neighboring markets .

Furthermore, Chile is the country with the largest foreign investment in Latin America . Chile mainly invest in commercial center , supermarket sales , supermarkets have their own in most Latin American countries . Therefore, with 0% tax advantages , through distribution channels of Chile , Vietnam goods have the opportunity to introduce and market presence in Latin America .

Vietnam had trade relations with all Latin American countries but trade value is not high but the growth rate is relatively high , 2011 was $ 5 billion , in 2013 is approximately $ 6.5 billion . However, with a population of around 600 million people , greater purchasing power , per capita income $ 11,500 / year as the Latin American market , then there are plenty of opportunities for businesses in Vietnam.

- To be able to exploit the Latin American market , primarily to take advantage of a Free Trade Agreement Vietnam - Chile , he recommends what the business community in Vietnam ?

Latin America is a new market very far back should we trade promotion activities of firms in this market have to be very strict and thorough preparation if not we're going to take a lot of cost .

Siting go commercial promotion of businesses also need careful consideration because Latin America is divided into two areas , including: The South American and Central American countries , the Caribbean .
We should choose to go in the direction of South America are more favorable because the countries we have trade relations are relatively good as Brazil , Argentina , Peru ... Conversely, if we choose to go in the direction of Central American countries and Caribbean countries should choose together to save time and cost .

In my opinion , to trade promotion activities are most effective , businesses , industry associations should contact the regional Trade in Latin America , for assistance in various forms such as customer Introduction support trade promotion , mount local business with local firms .

Moreover, the deal could also help assess the reliability , solvency of partners . First of all enterprises in the country should send product samples for us to display at the Trade and introduce to your business .

Although Latin America is far to the Vietnam market , but a lot of potential , I believe that if you prepare thoroughly for the trade promotion activities , quality merchandise , Vietnam now fully capable of opening this market operators .

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