President Sang made the proposal on November 12 while meeting with his Chilean counterpart Sebastian Pinera on the sidelines of the 19th Asia Pacific Economic Cooperation Forum (APEC) summit in Hawaii, USA.

Mr Sang thanked Chile for its fine sentiments towards Vietnam in the past and expressed hope to strengthen ties with the South American country.

Although Vietnam and Chile established diplomatic ties 40 years ago, trade cooperation is not on par with their potential.

President Sang also invited his counterpart to visit Vietnam in the future. The Chilean President expressed his delight at the strong developments in Vietnam-Chile relations and said that his country is willing to enhance cooperation with the Southeast Asian nation.

Chile had the second biggest trade turnover in Latin America and it has also established a free trade area with Vietnam, he said, adding that trade between the two countries should be boosted.

Earlier the same day, President Sang visited the East-West Centre and delivered a speech on Vietnam’s development policies. He affirmed that Vietnam has gained rapid development over its 25 years of renewal process.

Vietnam has escaped from the underdevelopment status to become a middle-income nation.

The State leader also affirmed Vietnam’s development strategy for the next ten year with a focus on restructuring the economy, combating corruption, ensuring social welfare, and expanding cooperation with all nations over the world.