Trade between Vietnam and Brazil increased to 6.78 billion USD in 2022 from 29 million USD in 2001 and 3.35 billion USD in 2014. (Photo: VNA) Talking to the Vietnam News Agency, Dr. Ruvislei Gonzalez Saez, a senior researcher at the Cuban Centre for International Policy Research (CIPI), said the visit from September 23-26 is the first to a Latin American nation by Chinh in his capacity as the government leader.
The expert said Brazil and Vietnam rank first and second, respectively, in coffee export in the world, adding although they are competing in this field, the two economies are reciprocal in others.
He pointed to opportunities for Vietnamese automakers like Vinfast to access Brazil in the context that Vietnam is stepping up its outbound investment, especially in auto and renewable energy.
Other favourable conditions include their regular dialogue mechanisms, including the political consultation and the joint committee, along with many bilateral cooperation documents in science-technology, health care, technology and energy.
Brazil has removed Vietnam from its anti-dumping list in footwear and approved a list of 74 Vietnamese businesses eligible to seafood export, González Saez, said, adding that in 2019, Brazil decided to terminate anti-dumping duties on cold-rolled stainless steel from Vietnam.
Two-way trade increased to 6.78 billion USD in 2022 from 29 million USD in 2001 and 3.35 billion USD in 2014, making Brazil a key partner of Vietnam in Latin America and the Caribbean.
As of August this year, Vietnam’s export to Brazil reached 1.68 billion USD, mainly phones and components, computers, and transportation accessories, while importing 2.79 billion USD worth of corn, soybeans, and animal feed from the country.
The expert noted that the dynamism of the bilateral economic relations has helped elevate Brazil's position as Vietnam's primary trade partner in Latin America and the Caribbean.
The presence of the Vietnamese PM in the South American nation will contribute to promoting new economic and trade agreements, he stressed./.
VNA
