The office of the Vietnam Chamber of Commerce and Industry in Ho Chi Minh City (VCCI-HCMC) in conjunction with the Brazil Embassy in Vietnam held a seminar in the city on October 5 to boost the bilateral cooperation in trade and investment.

Tran Ngoc Liem, Deputy Director of the VCCI-HCMC, said that the trade relation between Vietnam and Brazil has been unceasingly strengthened and developed over the past years. The bilateral trade turnover reached almost 937 million USD in 2010 and exceeded 1 billion USD for the first time in 2011.

The two countries have also signed many agreements, creating legal basis and favourable conditions for the bilateral cooperation in many fields, especially in economics, trade and investment.

According to Victoria Alice Cleaver, Brazilian Ambassador to Vietnam , the country’s businesses are trying their best to seek investment opportunities in the Vietnamese market. Therefore, the two countries’ investment promotion agencies should update information and incentives, as well as answering queries for businesses wishing to penetrate into the market.-VNA