Vietnam and Brazil are striving to bring their two-way trade to 3 billion USD in 2014 and over 12 billion USD by 2020.

The targets were heard at a workshop held recently in Brazil, which aimed to promote partnerships between the two countries’ businesses.

To reach these goals, in the coming time, the two countries should prioritise trade promotion via exhibitions and fairs in order to help their businesses tap cooperation opportunities, said participants.

Last year, two-way trade between Vietnam and Brazil hit 2.4 billion USD, 150 times higher than the figure reported in 1989, which was only 16 million USD.

In the January-April period, the two countries’ import-export turnover surpassed 1 billion USD, nearly 473 million USD of which came from Vietnam ’s exports, up 58.5 percent year-on-year.

Major currency earners of Vietnam were telephone, footwear, frozen fish fillet, computer and electronic products.

Meanwhile, the country mainly bought from Brazil maize, soybean, tobacco, cotton, footwear materials, and scrap steel.

The surge was recorded despite the fact that Brazil experienced a year-on-year drop of 1.48 percent to 105.4 billion USD in foreign trade in the first quarter.-VNA