Vietnam, Brazil Aim for US$1 Bln Trade Value in 2010

Bilateral trade between Vietnam and Brazil is expected to reach US$1 billion in 2010, up 200.3 per cent against 2007, said Brazilian Foreign Minister Celso Nufiez Amorim during his three-day visit to Vietnam started February 26.

 

At the “Brazil-Vietnam: New business opportunities” seminar held in Hanoi February 27 by the Vietnam Chamber of Commerce and Industry (VCCI), the minister noted that the target of US$1 billion bilateral trade is reachable as both countries report high economic growth rates.

 

The Vietnamese market is also very attractive to Brazilian businesses as Vietnam is an exemplary model of development, he added.

 

Speaking at the seminar, Vietnamese Deputy Industry and Trade Minister Bui Xuan Khu said that the Vietnamese Government will create favorable conditions for Brazilian businesses to come to Vietnam.

 

Vietnam-Brazil trade posted at US$333 million last year, up 58 per cent on-year. Vietnam incurred a high trade deficit of US$230 during the year.

 

Vietnam mainly exports coal, footwear, rubber, printers, motorbike and bike tyres, doll, and stockinet cloth to the American country while importing paper pulp, cashew nut, sawn timber, soybeans, beef and cotton. (Pioneer, VNS)