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Chilean official explores Vietnamese market
Carlos Honorato Coman dari, deputy director of Chilean Foreign Affairs Ministry's Export Promotion Bureau, visited HCM City last week to explore the Vietnamese market and foster bilateral ties. He spoke to Quynh Hoa about opportunities and areas of potential to boost commerce between both countries.
What would you say are your main "findings" on this trip? What have you learnt that you were not aware of earlier about the potential for bilateral economic and trade co-operation?
One of my main findings was that Viet Nam is a great, booming market right now. Walking through the city, one can see it in all the office buildings that are being built, the new premium shopping malls, gourmet shops and so on that would likely increase the consumption of products, whether they are local or from outside Viet Nam.
The great cuisine and French influence in Viet Nam give us great opportunities in the gourmet, wine and olive oil markets for example. Also, the need of a better understanding of agribusiness will give Chilean producers a chance to export their know-how, technology and ways to improve productivity.
What would be the reasons for Chilean entrepreneurs to favour the Vietnamese market over other countries in the region?
The Vietnamese economy is booming like no other (Besides China). During 2009, it grew more than 5 per cent even through the crisis. Our trade has also grown steadily during the last five years and it looks like it will continue to grow in the coming years as well. There are a lot of opportunities and the Chilean people need to start looking for new markets. Europe and the US are huge markets with a lot to offer, not just for Chile, but for the rest of the world as well. We need to look to Asian markets that are booming and wait for new opportunities.
What are the areas of interest for Vietnamese and Chilean entrepreneurs in either country?
During the last couple of months we've had some great wine tasting parties, olive oil presentations, dry fruit studies and other activities in order to reach Chilean entrepreneurs and induce them to come to Viet Nam, and to see it also as a way to enter the ASEAN market.
Vietnamese businesses have had the chance to keep their textile and furniture markets growing. I had the chance to visit a furniture company who was buying wood from Chile and exporting furniture.
What do you see as the respective strengths of both countries that can be used to boost socio-economic ties?
In Chile we have a lot of natural resources (Copper, wood), great seafood and a booming wine&gourmet industry. With all this plus the free trade agreements that we have there's a lot that Chile can offer to boost economic ties.
Viet Nam has a great textile industry and should try to become the new hub for the textile market, differentiating itself from other Asian markets.
Viet Nam is currently chair of the ASEAN bloc, which has forged multilateral agreements with other countries and regions. Do you see the potential for similar co-operation with South America in general and Chile in particular?
Chile is the most "open" and competitive economy in the world and we have a lot of agreements with groups like P4, Mercosur and others. I think that Viet Nam should try to get to Latin American countries through Chile at first and then start expanding through the region.
Currently, Chilean investment in Viet Nam is still modest. What is likely to change after this visit?
During the second half of the year, a few Chilean missions are coming to Viet Nam, one of them from the agribusiness association ASOEX, whose members would be looking for investment opportunities in their sector. I would definitely encourage not only this mission but also one from the wood industry.
Can you share with us some of your personal impressions on your visit to Viet Nam, your interactions with people, and the places you have seen?
I had the chance to meet with a great variety of people and organizations, from the Viet Nam Chamber of Commerce and Industry to a furniture company, some gourmet groups and a supermarket chain owner. They were all open to start working with Chilean products, they knew about Chilean wine, but now it is our job to show the potential of other industries like olive oil, dry fruit, gourmet products and others. I really enjoyed my visit to HCM City and hope to come back soon to visit it again as well as other cities like Ha Noi and the great islands you have.
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