Vietnamese, Brazilian businesses eye stronger trade ties

Processing shrimp for export (Photo: VNA)

Hanoi (VNA) – A workshop to promote trade cooperation between Vietnamese and Brazilian enterprises has been held recently by the Vietnamese Embassy in Brazil and the Sao Paulo Trade Association in Sao Paulo.

The event, which also took place on Zoom, has helped Vietnamese businesses and localities introduce products, and enhance trade promotion activities in the Brazilian market.

Addressing the event, Vietnamese Ambassador Pham Thi Kim Hoa highlighted the significance of the workshop, saying that it contributed to promoting economic relations and creating cooperation opportunities for businesses of the two countries.

Representatives from Vietnamese localities of Dong Nai, Nghe An, Thai Binh and Tay Ninh introduced potential and strengths of their localities, and showed their wish to have specific cooperation programmes.

Vu Ba Phu, Director of Trade Promotion Agency of the Ministry of Industry and Trade said there remain many opportunities for Vietnam and Brazil to upgrade trade turnover because the structure of goods exchanged between the two countries is complementary.

Meanwhile, deputy head of the MoIT’s European-American Market Department Vo Hong Anh said that the bilateral trade between the two countries has achieved positive results, with the value of turnover being consolidated, the structure of the industry has changed significantly, and the categories of industries are increasingly diversified.

Truong Van Cam, Vice Chairman of the Vietnam Textile and Apparel Association (Vitas) introduced the potential for cooperation between the two countries in textiles and garment, and proposed implementing promotion activities in 2022.

Ambassador Raymundo Santos Rocha Magno from the Brazilian Ministry of Foreign Affairs applauded the organisation of the event, saying that it created an important bridge to promote trade exchange between the two countries.

At the event, President of the Sao Paulo Chamber of Commerce Alfredo Cotait Neto and Head of the Vietnam Trade Office in Brazil Ngo Xuan Ty signed a memorandum of understanding on promoting trade bond between the two countries in the coming time.

According to statistics from the General Department of Vietnam Customs, two-way trade between Vietnam and Brazil hit about 5.2 billion USD in the first ten months of 2021, up nearly 40 percent year-on-year.

Vietnam is leading ASEAN member nations in terms of trade cooperation with Brazil. The two sides has continued to study and negotiate a free trade agreement within the Southern Common Market (MERCOSUR)./.