Vietnam-Brazil trade up 16 percent

Illustrative image (Source:Forbes)

Hanoi (VNA) – Two-way trade between Vietnam and Brazil hit about 1.73 billion USD in the last two quarters, representing a year-on-year increase of 16 percent, according to the Vietnam Commercial Affairs Office in Brazil.

The Latin American country’s export to Vietnam was estimated at 665 million USD, down 13 percent against the same period last year.

Meanwhile, Vietnam shipped goods worth 1.065 billion USD to Brazil, an increase of 46 percent.

The export of Vietnam’s staples to Brazil in the first five months of this year increased strongly again, especially synthetic fabric (over 300 percent), rubber and products from rubber (73 percent), telephones and electronic equipment (over 57 percent) and aquatic products (43 percent).

The Vietnam Commercial Affairs Office suggested Vietnamese exporters coordinate closely with Brazilian importers in handling complaints of relevant trade associations in Brazil, aiming to avoid lawsuits related to trade protection.

Experts said Brazil is one of the most important markets of Vietnam in Latin America. However, trade between the two nations declined in recent time due to the ongoing unstable politics in the Latin American nation.-VNA

VNA