11:11:49 AM | 15/7/2008
Banco do Brasil, the largest financial organization in Brazil, will consider ing a branch in Vietnam, said Admilson Monteiro Garcia, the bank&rsquos regional general director for Asia.
Banco do Brasil will expand network to Asia in the coming months, and the ing of a branch in Vietnam is possible, he said on the sideline of the forum &ldquoBrazil-Vietnam: Building new partnerships&rdquo in Hanoi July 10.
The rising two-way trade between Vietnam and Brazil in recent years and the two governments&rsquo commitments for stronger bilateral economic ties are important factors for Banco do Brasil to consider ing a branch in Vietnam, Garcia said.
Brazilian businesses are interested in Vietnam, he said, given that as many as 30 senior officials from 16 Brazilian leading companies are accompanying President Luiz Inacio Lula da Silva on a visit to Vietnam from July 9-10.
Meanwhile, Vietnamese enterprises are eyeing Brazil as a potential market.
During the forum, Banco do Brasil and the Bank for Agriculture and Rural Development of Vietnam (Agribank) signed a memorandum of understanding on exchanging information and supporting the Brazilian and Vietnamese businesses in their import and export activities.
The signing was witnessed by Brazilian President Luiz Inacio Lula da Silva and Vietnamese Deputy Prime Minister Hoang Trung Hai.
This is the first step of the two banks&rsquo cooperation in the future, Garcia said. (VNA)
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