Peru's Ambassador to Việt Nam, Patricia Ráez Portocarrero. Photos courtesy of the Peruvian Embassy in Hà Nội

July 28 marks the 205th anniversary of the independence of the Republic of Peru. Writing for Việt Nam News,  Peru's Ambassador to Việt Nam, Patricia Ráez Portocarrero said this occasion serves as more than just a historical commemoration, it is a moment to examine the rapidly expanding diplomatic, economic and trade bonds between Peru and Việt Nam. 

Celebrating 32 years of diplomatic relations in 2026, our two nations maintain cooperation that has expanded across multiple sectors in the last years. We have been holding high-level meetings, bilateral political consultations and the Intergovernmental Commission on Economic Affairs and Technical Cooperation at Vice Ministers level. Two weeks ago we also had the visit to Peru of the Vice Minister of Public Security of Việt Nam who had meetings with the highest authorities of the Ministry of Interior of Peru to strengthen bilateral collaboration in law enforcement, information sharing and coordination mechanisms in areas of mutual interest.

Regarding the economic relationship, Peru stands as Việt Nam's sixth-largest trading partner in Latin America, while Việt Nam remains Peru's largest trading partner in Southeast Asia. Bilateral commerce has demonstrated consistent upward momentum with a two-way trade that reached US$850 million in 2025, marking an 11 per cent increase year-on-year.  Việt Nam's key exports include telephones and electronic components, footwear, apparel, and cement, while Peru supplies minerals, fishmeal, fresh fruits and coffee among other products.

The rapid integration of both markets is driven by mutual memberships in high-standard multilateral frameworks, specifically APEC and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Following the historic momentum generated by Peru hosting APEC in 2024, Peru affirms its strong commitment to participating in the upcoming APEC Forum in Việt Nam in 2027, a milestone event that underscores our enduring partnership and shared vision for the Asia-Pacific region. Peru seeks to collaborate closely with Việt Nam to advance economic integration, foster sustainable development, and champion inclusive growth across our economies.

Concerning CPTPP, both nations have been utilising the agreement as an economic cornerstone. Because this pact eliminates tariffs on the vast majority of products, it has drastically lowered the barrier of entry for local small and medium enterprises (SMEs) looking to cross the Pacific.

Furthermore, the full operational integration of the Chancay Megaport in Peru has redefined bilateral supply chains. By reducing maritime transit times between South America and Southeast Asia from 40 days down to just 25 days, it provides a very efficient corridor for both Peruvian and Vietnamese commercial exchange.

Investment ties have grown stronger. Việt Nam remains a top-tier Southeast Asian investor in Peru, anchored by over $1.2 billion in telecommunications and energy ventures, primarily through Bitel, a subsidiary of Viettel Group. It is considered Peru's fastest growing telecom provider and recognised for providing vast connectivity in rural and underserved regions.  

The Rainbow Mountain, or Vinicunca, as known by the locals, is one of the best tourist destinations in Peru today

In 2025 and 2026, Peru has enacted a new legal and regulatory framework for Private Especial Economic Zones designed to attract long term, private investment. It is subject to a dedicated tax and customs regime. We strongly hope that investors from Việt Nam will take an active interest in these opportunities to expand their operations in Peru.

To capitalise on this economic synergy, the Embassy recently organised several bilateral activities. Specialised trade delegations from Peru visited Hà Nội and Hồ Chí Minh City to meet with their counterparts to increase import/exports. There have been also initiatives in progress focused on market access for fresh agricultural goods.

Beyond the figures and commercial agreements that strengthen our economies, there is also a direct and sensory vehicle for integration: our gastronomy. Peruvian cuisine, like Vietnamese, is a living testament to our history, where the products of the land and the sea transform into an experience that unites our peoples.

On this regard, with great success we presented the Gastronomic Festival 'Peru: A Symphony of Flavours' at the JW Marriott Saigon in Hồ Chí Minh City, between July 16 to 19, where people enjoyed some traditional dishes of our renowned cuisine  that is a fusion of indigenous Incan and colonial Spanish influences, with additions from African, Chinese, Japanese and Italian immigrants. Several Peruvian restaurants consistently are in the list of the 'World's 50 best' and recently prestigious Time Out Magazine crowned Lima, the capital of Peru, as the Number 1 top culinary destination globally.

Behind the trade agreements and official meetings that solidify our bilateral agenda, arriving in Việt Nam in May 2024 marked the beginning of a rewarding chapter in my diplomatic career to contribute to the growing synergy between our nations. Living in Hà Nội and exploring various regions of the country has made me discover the similarities between Peruvian and Vietnamese cultures: our profound family values, deep respect of history, pride in our culinary identity, agricultural traditions and a strong sense of community serve as a foundation for a lasting partnership that we continue to strengthen. At the same time, we are both vibrant and growing economies.

As Peru celebrates 205 years of independence, does it so as an important Pacific neighbour to Việt Nam. Cooperating in different fields, leveraging APEC connectivity, CPTPP tariff advantages, cutting-edge maritime infrastructure and investment opportunities, both countries are creating a bridge of shared prosperity. — VNS