Hanoi (VNA) – Prime Minister Pham Minh Chinh has called for accelerating negotiations toward the signing of a free trade agreement (FTA) between Vietnam and the Southern Common Market (MERCOSUR) while receiving Renato Costa, CEO of Friboi under Brazil’s JBS S.A. – one of the world’s largest meat processing companies operating in 24 countries, including Vietnam.
At the reception in Hanoi on February 13 which also saw the attendance of Brazilian Ambassador to Vietnam, the Government leader underscored the need to step up trade and investment cooperation to match the potential of both countries and translate into reality their strategic partnership, which was established in November 2024.
Amid shifting global trade dynamics and economic uncertainties, PM Chinh recommended the two sides to strengthen bilateral cooperation, including in sectors of interest to JBS S.A. He urged the Brazilian Government and business community to advocate for the Vietnam-MERCOSUR FTA, as well as the two countries’ agreements on trade, investment, labour, visas, and double taxation avoidance. Additionally, he called on Brazil to recognise Vietnam’s market economy status, paving the way for balanced trade and stronger business ties.
The PM encouraged JBS S.A. to expand its operations in Vietnam, particularly in livestock farming, meat processing, industrial crops, and coffee processing. He also suggested collaboration in the diversification of markets, products, and supply chains. Furthermore, the leader invited JBS S.A. to help connect other Brazilian enterprises with Vietnam partners to foster partnership and investment.
Informing his guests on Vietnam’s interest in deepening cooperation with Brazil in the mineral sector, PM Chinh affirmed the country readiness to serve as a gateway for Brazilian businesses seeking to enter Southeast Asian and its other FTA-linked markets. He also pledged favourable conditions for JBS S.A.’s operations in Vietnam, ensuring mutual benefits and shared risks.
For his part, Costa noted that his visit aimed to explore investment and business opportunities in Vietnam toward catering to its demand, given the country’s strong economic growth and potential.
He expressed JBS S.A.’s commitment to expanding cooperation and urged the Vietnamese Government to continue supporting its business ventures.
Costa also reaffirmed the company’s promise to strengthen business ties between Vietnam and Brazil in line with the PM’s recommendations./.
