Much Room for Elevating Vietnam-Brazil Trade Ties

6:56:23 AM | 6/13/2023

Brazilian Ambassador to Vietnam Marco Farani started his term in Vietnam two months ago. On this occasion, he had a meeting with VCCI President Pham Tan Cong to discuss the cooperation potential between the two countries, as well as measures to further promote the relationship. Our reporter conducted an interview with Ambassador Marco Farani about the meeting.

VCCI President Pham Tan Cong receives the Brazilian delegation led by Brazilian Ambassador Marco Farani

Could you please tell us the purpose of your visit?

I have been in Vietnam now for two months. My mission from the Brazilian government is to make the relationship between the two countries closer. One of the pillars of our relationship of course is the economy, besides the political. Therefore, the purpose of my visit here is to meet VCCI President, to learn more about VCCI and to be ready to explore with VCCI the opportunities that we can create for Brazil and Vietnam here and there in terms of trade and investment.

What can you comment on the trade cooperation between the two countries?

We both have large population. Brazil has 222 million people and is a middle-income country. Brazil now has a new government very open to international relations. Vietnam has a population of 100 million and a fast-growing economy with the goal of becoming a developed country by 2045.

Brazil is largest trading partner for Vietnam and is in the top 3 of Vietnam in the Americas, usually just behind the United States. The total two-way trade turnover between Vietnam and Brazil in 2022 reached US$6.78 billion, up 6.6% compared to 2021. Vietnam's exports to Brazil reached more than US$2.24 billion, down 1%; Vietnam's imports from Brazil reached US$4.55 billion, up 11% compared to 2021.

Currently, enterprises of the two countries mainly carry out trade, import and export activities to meet the production needs and domestic market for both sides. Bilateral trade is still limited because of the long geographic distance, and limited information on each other’s market. However, the two countries have good traditional relationship and I believe that our leaders will pay much more attention to further the relationship to a new height.

In addition, the trade relation is not competitive but complementary. Brazil exports to Vietnam agriculture products while Vietnam exports to Brazil cellphones, technology, and rice. I am sure there are many opportunities for both countries and I want to dedicate my time together with the VCCI President in particular and VCCI in general to find out how we can tackle these opportunities.

 It is known that the two countries will have many high-level exchange visits to strengthen the relationship, especially when the two countries celebrate the 35th anniversary of diplomatic relations. Could you reveal about these meetings?

There will be a series of high delegation exchange visits from the two sides. The Prime Minister of Vietnam is scheduled to visit Brazil in September. We are also preparing for a visit of the Minister of Science and Technology from Brazil to Vietnam in the second semester.

I have a letter of invitation from the Minister of Agriculture of Brazil to the Minister of Agriculture of Vietnam to visit Brazil. I delivered this letter personally this week to the Minister of Agriculture. We also expect our Minister of Agriculture will visit Vietnam during the current year.

President Lula has already indicated his wish to come to Vietnam at some moment next year on the occasion of 35 years of diplomatic relationship.

There is a lot to do together, in the cultural field also, as well as in the economy and trade areas for governments and the private sector from both countries. With the commitment of the leaders of the two countries, the bilateral trade relations definitely will develop in the future.

Thank you very much!

 Vietnam and Brazil have many things to do to promote trade ties. Last year, the trade relations reached nearly US$7 billion. This number can be much bigger.
 Brazil is not only the biggest market in Latin American countries but also a gateway to Mercosur. Now Vietnamese companies are seeking this new market. Vietnam imports agricultural products and Vietnam exports garments, seafood, cell phones and technology products to Brazil.
VCCI has a network of branches all over Vietnam and more than 200,000 member companies. VCCI provides the Vietnamese business community with information on the Brazilian market and can organize seminars and conferences on the Brazilian market. VCCI can also support Brazil in organizing business delegations so that businesses from both countries can find partners or do business together.
VCCI President Pham Tan Cong

Source: Vietnam Business Forum