The two sides expressed their pleasure at growth in trade, with two-way trade value reaching nearly 6.8 billion USD in 2022 and nearly 3.3 billion USD in the first half of this year, affirming Brazil’s position as Vietnam’s leading and most promising partner in Latin America.
The two sides agreed to raise two-way trade to 10 billion USD by 2025 and 15 billion USD by 2030.
They also consented to continue promoting the beginning of negotiations over a free trade agreement between Vietnam and the Southern Common Market (MERCOSUR), to strengthen business, trade, and investment cooperation between Vietnam and MERCOSUR member countries.
Prime Minister Chinh proposed that Brazil create the necessary conditions to increase the importation of Vietnamese products, to contribute to ensuring balanced trade between the two countries, and to soon complete the process of Brazil recognizing Vietnam’s market economy status.
The two sides also agreed to promote the signing of an agreement on double taxation avoidance.
They were also in agreement over strengthening cooperation in defence and security through promoting the negotiation, signing, and effective implementation of related cooperative agreements and to coordinate in multilateral mechanisms and activities.
Vietnam affirms that it is willing to support Brazil in cooperating with ASEAN and to facilitate ASEAN-MERCOSUR relations to match the potential and fortes of both sides.
Brazil voiced its support for the peaceful settlement of disputes in the East Sea to ensure security, safety, and freedom of navigation and aviation, including adherence to UNCLOS 1982.
Prime Minister Chinh and the Brazilian President approved a joint communiqué on the visit and witnessed the signing of bilateral cooperative documents on several fields.
They also hosted a press conference to discuss the outcome of the talks with the media./.
