Vietnam-Peru - A chance to align on broader regional and international agendas: Peruvian Ambassador
WVR - In an interview with The World & Vietnam Report, Peruvian Ambassador to Vietnam Patricia Yolanda Ráez Portocarrero highly stressed the significance and shared her expectations for President Luong Cuong’s upcoming visit to attend the 2024 APEC Economic Leaders’ Week and bilateral activities in Lima, Peru from November 11-16, 2024.
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| Peruvian Ambassador to Vietnam Patricia Yolanda Ráez Portocarrero. (Source: Embassy of Peru in Vietnam) |
Dear Your Excellency, could you touch on the significance of the Vietnamese President Luong Cuong’s upcoming visit to Peru, especially this month marks 30th anniversary of Vietnam and Peru diplomatic relations? What are your expectations for this visit?
President Luong Cuong's upcoming visit to Peru in November 2024 is particularly significant as it coincides with the 30th anniversary of diplomatic relations between Vietnam and Peru, established on November 14, 1994. This milestone visit underscores the importance both nations place on strengthening their ties and deepening bilateral cooperation across several areas, especially in fields such as trade, telecommunications, agriculture and tourism. Over the years, these diplomatic relations have grown to include cultural exchanges that have benefited both countries.
During this occasion, President Luong Cuong will have a meeting with the President of Peru, Mrs. Dina Boluarte, where they will discuss important topics of the bilateral relations. There will also be high level meetings with Ministers, the Congress and Judiciary of Peru to enhance friendship and promote ties with their Vietnamese counterparts. These encounters will create opportunities for cooperation in diverse areas as well.
This visit also offers both countries a chance to align on broader regional and international agendas, particularly in the Asia-Pacific Economic cooperation forum (APEC) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), where Vietnam and Peru share commitments to fostering economic stability, open trade, and multilateral cooperation.
The talks are expected to include discussions on peace, security, and collaborative support within within the frameworks of the Pacific Alliance and Association of Southeast Asian Nations (ASEAN), where Peru participates as a development partner.
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| Peru holds the Presidency of APEC in 2024, for the third time since joining the forum in 1998. (Source: Andina) |
How do you evaluate the relationship between the two countries over three decades? What are the prospects of developing the relations between the two countries in the coming time?
Over the past three decades, Vietnam and Peru have developed a constructive and mutually beneficial relationship, marked by growing economic ties, cultural exchanges, and cooperation on multilateral platforms such as APEC and the CPTPP.
Recently, this partnership has further deepened with Peru becoming a Development Partner of ASEAN, reflecting a shared commitment to fostering regional integration and economic stability. This status enhances opportunities for Peru to collaborate with Vietnam and other ASEAN member states on issues of economic development, trade, and cultural exchange, reinforcing Peru’s strategic role in connecting the Asia-Pacific and Latin American regions.
Regarding bilateral cooperation, Peru and Vietnam signed, in the last few years, more than eight cooperation agreements in terms of culture, science and technology, anti-drug and fishery, among others, which will open new platforms for both countries to enhance the cooperation in the coming years.
Since 2020, two-way trade turnover between the two countries has exceeded 500 million USD, making Vietnam-Peru's largest trading partner in Southeast Asia. The exchanges reached more than 700 million USD in 2023, and between January and August 2024, reached 509 million USD compared to 483 million USD in the same period of 2023.
Vietnam exports electronic equipment and footwear to Peru, while Peru supplies Vietnam with various products, including zinc, fishmeal, wood, seafood, quinoa, chia seeds and table grapes. This trade relationship highlights a complementary exchange, with each country leveraging its production strengths to meet market demands in the other.
Vietnamese investments have been a key factor in strengthening these ties, particularly through Bitel and PetroVietnam. Bitel, a subsidiary of Viettel, celebrates its 10th anniversary in Peru this year, marking a decade of significant contributions to the country's digital landscape. Since its entry in 2014, Bitel has focused on expanding telecommunications infrastructure, especially in rural and remote areas, where it has provided affordable mobile and internet services.
In addition, PetroVietnam has been exploring and investing in Peru’s energy sector, focusing on oil and gas exploration and production. These ventures not only reinforce economic cooperation but also position Vietnam as a strategic partner in advancing Peru’s energy and technological sectors.
Looking ahead, both countries are well-positioned to further strengthen their relationship. Prospects for growth include deepening trade ties through continued tariff reductions under the CPTPP, as well as exploring cooperation in sectors such as agriculture, sustainable development, and digital infrastructure. Additionally, there are opportunities for cultural exchange and tourism, as both nations see value in promoting their cultural heritage and natural landscapes.
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| Peruvian Ambassador (3rd from right) at a trade event organized by the Embassy in Ho Chi Minh City in May 2024. (Source: Embassy of Peru in Vietnam) |
From November 11-16, APEC Leader’s Week will take place in Lima, Peru. Could you please share on the significance and contents of discussion at the 31th APEC Economic Leader’s Meeting?
During the APEC Leaders' Week in Lima, Peru, on November 11-16, 2024, a set of significant ministerial declarations and frameworks is expected to be adopted by consensus, reflecting shared priorities for sustainable and inclusive economic development across the Asia-Pacific region. Thus, four Ministerial Declarations covering the Digital Economy, Sustainability and Resilience, Inclusive Trade and Investment, and Food Security are anticipated to receive unified approval from all member economies.
A central highlight of the week will be the signing of the Roadmap for Transition to the Formal and Global Economy. This roadmap aims to address economic disparities in the Asia-Pacific region by promoting formalization, particularly by integrating informal sectors into the formal economy. It seeks to leverage digitalization and inclusivity to enhance access to global markets, aligning with APEC’s commitment to sustainable and inclusive growth.
How does Peru’s participation at this year’s APEC Leader’s Week contribute to the overall success of the Summit?
Peru holds the Presidency of APEC in 2024, for the third time since joining the forum in 1998. To date, more than 7,000 delegates have already participated in APEC and more than 270 meetings have been held. Around 5,000 delegates will participate in the Summit of Economic Leaders; 1,200 businessmen at the Business Summit; and 2,500 journalists.
One of the main achievements of the Peruvian Chairmanship of APEC 2024 has been the restoration of consensus in the forum, after two years in which it was not possible due to the complexity of the current international scenario.
To date, 15 outcomes have been unanimously adopted, including 10 Ministerial Declarations and five technical policy instruments on the economic inclusion of persons with disabilities; the development of low-emission hydrogen in the Asia-Pacific region; principles to prevent and reduce food loss and waste; the fair energy transition initiative; and the sustainable finance initiative for voluntary information sharing and capacity building on sustainable finance issues.
Peru’s focus on inclusivity, sustainability, and digital innovation has also fostered collaboration among APEC members, aiming for a unified approach to shared challenges. This effort at consensus-building highlights Peru’s commitment to facilitating decisions that will shape APEC’s impact for years to come. Through these initiatives, Peru’s role is essential not only in setting a collaborative tone but also in aligning APEC’s goals with global sustainability and resilience objectives.
Finally, as stated by the Minister of Foreign Affairs, Elmer Schialer, one of the key legacies Peru aims to leave from its pro-tempore presidency of the APEC forum is progress toward establishing a comprehensive free trade area in the Asia-Pacific region and advancing the transition from an informal to a formal economy.
Thank you, Your Excellency!
