Vietnam, Brazil Foster Agricultural Cooperation

This information was affirmed at the Vietnam - Brazil Business Forum themed “New prospect of trade and investment in agriculture” held recently in Hanoi by the Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with the Embassy of Brazil. The event concurred with the working visit to Vietnam by Brazilian Minister of Agriculture, Livestock and Food Supply, Blairo Maggi, from September 15 to 17, 2016.

 

The forum attracted 30 Brazilian enterprises engaged in processing and trading agricultural products such as soy, corn, wheat, rice, manioc, cereals, dried fruits, fruit juices, pork, poultry meat and eggs, beef, frozen cattle offal, Amazon native fish, organic foods and drinks, animal feeds, bio-energy, wood products, agricultural machinery, logistics, financial services and investment advisory.

 

This was an opportunity for Vietnamese companies to update information on Brazilian agricultural product market and directly meet and exchange information with big Brazilian firms engaged in agribusiness and processing, such as BTO, ABIOVE, BRF Brasil, AVIPE, VIVA LÁCTEOS and ABIEC.

 

Vietnam and Brazil have achieved leapfrog development in economy and trade. The bilateral trade value jumped from only US16 million in 1989 to US$3.9 billion in 2015, of which agricultural imports from Brazil accounted for US$1.8 billion. The two-way trade revenue was US$1,567 million in the first six months of 2016.

 

Vietnam’s major exports to Brazil included footwear, computers and electronic components, seafood and apparels, while Brazil’s key agricultural exports to Vietnam comprised of maize, livestock fodder, wheat, materials for garment and textile production, leather and footwear.

 

VCCI Secretary General Pham Thi Thu Hang said Vietnam and Brazil have great potential for cooperation. Brazil is an important gateway to penetrate the South American market, while Vietnam is a member of the ASEAN Economic Community (AEC) and a series of free trade agreements (FTAs) such as the Trans-Pacific Partnership (TPP) and Vietnam - EU FTA (EVFTA). Therefore, this is an opportunity for businesses of both countries to invest in each other's market, especially cooperation in transfer of cleaner agricultural production technologies. She added that geographical distance is not a big issue, but how to unlock business cooperation opportunities between the two countries.

 

Brazilian Minister of Agriculture, Livestock and Food Supply Blairo Maggi said, with its sustainable agriculture, Brazil is one of leading producers and exporters of agricultural products in the world. The country hopes to further commercial agricultural cooperation with Vietnam and wants to see this as an important bilateral cooperation field, he added.

 

Therefore, this visit aimed to share information on agriculture and promote bilateral relations in agriculture and food.

 

Mr Maurício Antonio Lopes, President of the Brazilian Agricultural Research Company, said, as Brazil and Vietnam both have developed agriculture, the forum is an opportunity for Vietnamese and Brazilian companies to discuss and sign new cooperation agreements on agricultural investment.