Prime Minister Pham Minh Chinh witnessed the signing ceremony of the cooperation agreement between the Vietnam Chemical Group and Oceanside One Trading LLC. Photo: VOV

At the invitation of the President of the Federative Republic of Brazil, Chair of the Group of 2024 (G20) leading developed and emerging economies (G20) Luiz Inácio Lula da Silva and his wife, Prime Minister Pham Minh Chinh, his wife and the high-ranking Vietnamese delegation attended the G20 Summit and conducted a number of bilateral activities in Rio de Janeiro, Brazil.

The Prime Minister's official delegation on this trip included Ms. Tran Thi Lan Anh, Secretary General of the Vietnam Chamber of Commerce and Industry (VCCI), and leaders of a number of central ministries and branches.

Specifically, at the Vietnam - Brazil Business Forum, Prime Minister Pham Minh Chinh said that on the basis of good political and diplomatic relations, the two countries have similar ideals, unique and close cultures, economies with complementary strengths, close and sincere feelings, and a common aspiration for peace and national development; the conditions and space for development and cooperation between the two countries are very open in many fields, especially in economics, trade, investment and promoting people-to-people exchanges and cultural cooperation. Notably, Brazil has a very large area, a market with large purchasing power with a population of more than 200 million people. However, economic relations are not yet commensurate with the space, conditions for cooperation and the desires of the two sides. The Prime Minister called on Vietnamese enterprises to invest in Brazil and Brazilian enterprises to invest more in Vietnam, promoting bilateral trade; especially agricultural cooperation, ensuring food security; renewing traditional growth drivers and promoting new growth drivers, cooperating with Vietnam in exploiting new development spaces such as outer space, sea space, underground space.

To further promote cooperation between the business communities of the two countries in the coming time, at the Forum, VCCI General Secretary Tran Thi Lan Anh had a meeting with Mr. Rodrigo Santiago, Vice President of the Confederation of Industry of Rio de Janeiro.

Accordingly, Mr. Santiago expects the free trade agreement between Vietnam and the Southern Common Market (MERCOSUR) to be signed as soon as possible, with Vietnam's great potential, strategic position in Southeast Asia and as a bridge connecting Brazil with ASEAN.

Prime Minister Pham Minh Chinh and delegates attending the Vietnam - Brazil Business Forum. Photo: International Relations Department, VCCI.

In fact, VCCI and Brazilian trade promotion agencies have had many cooperation activities such as signing a cooperation agreement with the Brazilian Trade and Investment Promotion Agency (APEX) on July 2, 2018 in Brazil during the official visit to Brazil of Deputy Prime Minister Vuong Dinh Hue. In 2024, VCCI welcomed a delegation led by the Deputy Minister of Agriculture and Livestock of Brazil and 25 enterprises to visit and work with VCCI.

Currently, more and more Brazilian enterprises are wishing to cooperate with Vietnamese enterprises. Leaders of the Confederation of Industry of Rio de Janeiro, the Brazilian Chamber of Commerce and Industry and representatives of Brazilian enterprises also assessed Vietnam as one of the key and important partners in Asia.

Therefore, the Secretary General of VCCI and Mr. Rodrigo Santiago, Vice President of the Confederation of Industry of Rio de Janeiro discussed promoting business cooperation in potential areas such as agricultural machinery, animal feed ingredients; export of wood and wood products, seafood, cashew nuts, rubber, vegetables, rice, textiles, footwear to contribute to realizing the target of increasing bilateral turnover to 10 billion USD in 2025 and 15 billion USD in 2030.

The two sides also expressed their hope that the FTA between Vietnam-Mercosur and Mercosur-ASEAN will be signed soon, creating a framework for extensive cooperation between the two regions.

Cam Anh (Business Forum Magazine)