Vietnam steps up trade, investment cooperation with Ecuador
The Vietnamese Embassy in Chile and Ecuador and Ecuador’s Chamber of Commerce of Quito recently organised the Vietnam-Ecuador Business Forum to promote trade and investment between the two countries.
At the Vietnam-Ecuador Business Forum (Photo: VNA)
Hanoi (VNA) – The Vietnamese Embassy in Chile and Ecuador andEcuador’s Chamber of Commerce of Quito recently organised the Vietnam-EcuadorBusiness Forum to promote trade and investment between the two countries.
The event drew the participation of officials from Ecuador’s Ministry ofForeign Affairs and Ministry of Foreign Trade and Investment, and more than 90businesses.
According to Vietnamese Ambassador to Chile and Ecuador Nguyen Ngoc Son, thisis the best time for the two countries to enhance trade and investment ties,particularly when the Vietnamese Government’s policies are to enhance economiccooperation with Latin American nations and Ecuador in particular.
Ecuadorian products will have opportunities to enter the 620-million-strong ASEANmarket via Vietnam. Meanwhile, Vietnamese goods to Ecuador share the samechances to get in Latin American countries, he said.
Also, the Vietnamese diplomat spoke highly of the Ecuadorian Government’sdecision to open its embassy in Hanoi as well as accelerate the signing of severalcooperation documents with Vietnam. In addition, Ecuador’s process to join thePacific Alliance is a vivid illustration for the country’s interest in promotingtrade with Asia in general and Southeast Asia in particular.
President of the Chamber of Commerce of Quito Patricio Alarcon Proano affirmedthat the business forum is an important event for the bilateral economic-tradecooperation.
He said that Vietnam, with progress in economic growth, foreign investmentattraction, competitiveness, and socio-economic stability, is a typical examplefor Ecuador to learn from.
At the event, Vietnam’s potential exports like food, equipment for agriculturaland fishery sectors, and garments were introduced to Ecuadorian businesses.
According to a report from the Central Bank of Ecuador, Vietnam is a strategicexport market of Ecuador in Asia, with export revenue reaching over 1.4 billionUSD in 2017. However, Vietnamese shipments to the Latin American country arestill modest, with a value of 150 million USD. Thus, both sides still see hugepotential for further cooperation in the future.-VNA
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At the Vietnam-Ecuador Business Forum (Photo: VNA) 
