The visits aim to strengthen the ties of friendship and economic and trade cooperation between Vietnam and these countries.
Cuba is an archipelago of islands located in the northern Caribbean Sea near the Gulf of Mexico. Cuban is rich in resources such as copper, manganes and oil. Cuba boasts fourth world largest reserves of nickel which is considered as the most important mineral resource. Its key trade items are tourism services, drugs, bio-tech products, nickel, sugar, and cigars. Cuba’s principal imports are food, fuels and staple products.
Since the establishment of diplomatic ties on December 2, 1960, Vietnam and Cuba have steadily developed bilateral relations. Cuba has always been in the frontline of supporting Vietnam's struggle for independence and freedom and national construction. Cuba attaches great importance to improving cooperation with Vietnam, especially in the fields of construction, transportation, biotechnology, health care, agriculture and sports.
Over the past few years, the two countries have frequently exchanged high-ranking visits. Vietnamese leaders who have visited Cuba include Party General Secretary Nong Duc Manh, former State President Tran Duc Luong, former Prime Minister Phan Van Khai and former National Assembly Chairman Nguyen Van An and the visits to Vietnam are as following: President Fidel Castro, Vice President Raul Castro and President of Cuba's National Assembly Ricardo Alarcon.
Trade between the two countries has steadily increased. The two countries have also co-operated in the fields of oil and gas, consumer goods manufacturing, electronics, services investment, telecommunications and tourism.
After Cuba, President Triet will visit Chile. Chile has great reserves of sodium, coal, and wood. It leads the world in copper reserves. It has achieved a high rate of sustainable growth. According to the World Economic Forum, in 2009 Chile ranks 25 out of 117 countries in terms of competitive edge and will become a developed country by 2015. Chile has signed 57 bilateral and multilateral trade agreements, including 12 free trade agreements with other countries and invested US$38 billion overseas.
Vietnam-Chile relations have made significant progress in recent years through exchanges of high-ranking visits. During a visit of Party General Secretary Nong Duc Manh to Chile in May 2007, the two countries issued a joint statement toward establishing a comprehensive partnership. They also signed a number of co-operative documents in the fields of politics, diplomacy, economics, trade, science and technology and culture and tourism.
Trade has increased gradually, dipping in 2008 due to the global financial crisis, which reduced two-way trade to US$173 million. Vietnam exports footwear, garments, coffee, plastic products, vegetables and fruits and wood products and imports nonferrous metals, fish paste, unprocessed wood and red wine.
To boost economic co-operation, the two countries have held three rounds of talks on a free trade agreement and are scheduled to hold the fourth round in Santiago in late September 2009. Chile supports Vietnam’s entry into the UN Economic and Social Council and has announced its recognition of Vietnam’s market economy status.