Elevating Vietnam-Brazil Business Ties

President of the Vietnam Chamber of Commerce and Industry (VCCI) Pham Tan Cong recently had a meeting with Brazilian Deputy Minister of Agriculture and Livestock Roberto Serroni Perosa in Hanoi.

VCCI President Pham Tan Cong welcomes the delegation from Brazil led by Mr. Roberto Serroni Perosa, Deputy Minister of Agriculture and Livestock

Vietnam and Brazil are approaching their 35th anniversary of diplomatic relations in 2024. Currently, Brazil is Vietnam's largest trading partner in Latin America while Vietnam is also Brazil's largest trading partner in Southeast Asia. Over the past decade, Brazil has seen its trade with Vietnam triple, reaching a US$7.1 billion milestone in 2023. Projections indicate a continued upward trajectory, with trade values expected to hit US$10 billion by 2025 and US$15 billion by 2030.

During the meeting, VCCI President Pham Tan Cong highlighted Brazil’s high-standard agricultural development as a model for Vietnamese businesses seeking to integrate advanced technology for sustainable growth. He also noted Vietnam’s robust economic performance, bolstered by favorable geographic positioning, inducive policies, and an open investment climate - particularly in agriculture. This progress aligns with Vietnam’s vision to become a developed, high-income country by 2045, presenting lucrative opportunities for international investors, including those from Brazil.

Deputy Minister Roberto Serroni Perosa emphasized the mutual motivation and opportunities for enhanced cooperation. With both countries experiencing significant economic expansion, there’s a clear pathway for increased economic, trade, and investment collaboration. The focus now shifts to information sharing, understanding mutual needs and strengths, and facilitating trade and investment partnerships, all in service of fulfilling governmental commitments to access and grow agricultural markets.

As Latin America’s largest economy and the world’s 9th largest, Brazil stands as an important partner for Vietnam in accessing the Southern American Common Market (MERCOSUR). Deputy Minister Roberto Serroni Perosa emphasized the advantage for Vietnamese businesses to penetrate deeper into this market through Brazilian collaboration. Conversely, he also envisioned Vietnam as a conduit for Brazilian products to reach the dynamic ASEAN economies.

To capitalize on these opportunities, Deputy Minister Perosa called upon VCCI to work in tandem with Brazilian embassy, organizations, and business associations. This collaboration aims to facilitate market insights, partner connections, and potential cooperative ventures, thereby deepening mutual comprehension and economic ties.

Echoing this collaborative spirit, VCCI President Pham Tan Cong reaffirmed VCCI’s commitment to serving as a steadfast link between Vietnamese and Brazilian business sectors. He urged Brazilian entities to advance negotiations on both bilateral and multilateral free trade agreements, fostering a conducive legal environment that will nourish economic and trade relations in the coming time.

By Huong Ly, Vietnam Business Forum