Business

Vietnam-Brazil trade up 16 percent

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.
Vietnam-Brazil trade up 16 percent ảnh 1Illustrative image (Source:Forbes)
Hanoi (VNA) – Two-way tradebetween 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 VietnamCommercial 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 goodsworth 1.065 billion USD toBrazil, an increase of 46 percent.

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

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

Experts said Brazil is one of the most important markets of Vietnam in LatinAmerica. However, trade between thetwo nations declined in recent time due to the ongoing unstable politics in theLatin American nation.-VNA
VNA
#Two-way trade #Vietnam #Brazil #Latin America #export #trade protection #lawsuits #important markets #Vietnamese exporters #Brazilian importers Brazil Vietnam
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