The Vietnam-Brazil Business Forum, held in Rio de Janeiro on July 5, revealed that Vietnamese and Brazilian firms want to deepen cooperation in agriculture, fisheries, energy, and oil and gas.

Fabio Maia, Investment Director at JBS Group, said that the company plans to establish distribution centers in Haiphong and Ho Chi Minh City for exporting products to neighboring markets such as China.

During Prime Minister Pham Minh Chinh’s visit to Brazil, JBS launched its first shipment of Brazilian beef to Vietnam, marking a new milestone in the partnership.

Maria Antonietta Cervetto, CEO of Cecil Group, said both countries have immense potential for cooperation in heavy industry and metallurgy.

The Cecil Group is willing to supply engineering products, logistics support, and technology transfer, or to jointly develop solutions with Vietnamese partners in key economic growth sectors.

Vietnamese companies also proposed collaborating on energy, particularly deepwater and pre-salt oil exploration in Brazil.

Tran Binh Minh, a board member of the Vietnam National Oil and Gas Group, offered to partner on digital transformation and science and technology initiatives.

He said the cooperation should focus on low-carbon oil production, an area in which Brazil is a global leader.

Minh also suggested importing Brazilian crude oil and enzymes for distribution in Vietnam and Southeast Asia.

In agriculture, Huynh Van Thon, Chairman of the Loc Troi Group, pitched leveraging each country’s strengths — Vietnam’s expertise in wet rice cultivation and Brazil’s large-scale, mechanized farming.

He said that Vietnam could develop drought-resistant rice varieties suitable for Brazil’s climate, and Brazil could share post-harvest processing and mechanization technologies to help Vietnam improve crop yields.

At the forum, Nam Viet Corporation and AV09 Comercio Exporter signed a fisheries deal, and Trong Khoi Co. Ltd. and Brazil’s Fujikura Quail Genetics signed a $200 million investment agreement for quail farming.

The Ho Chi Minh City Football Club and Brazil’s Grêmio Foot-Ball Porto Alegrense signed a $3 million, three-year partnership for youth soccer training.

Prime Minister Pham Minh Chinh described the current state of bilateral relations between Vietnam and Brazil as the best since the two countries established diplomatic relations in May 1989.

He urged both nations to strengthen their cooperation to promote peace, stability, and development in their respective regions and around the world.

As regional economic powerhouses, Vietnam and Brazil have complementary strengths and can serve as bridges between Southeast Asia and South America, Chinh said.

He called on businesses to boost their cooperation in agriculture, science and technology, digital transformation, telecommunications, and mineral extraction and processing.

The Vietnamese prime minister announced that the two countries agreed to further open their markets to each other's agricultural and aquatic products and sign a long-term food security agreement, in which Vietnam will supply rice to Brazil.

Chinh encouraged joint investment in agricultural processing in each country. For example, he suggested that Vietnamese companies grow and process rice in Brazil and that Brazilian firms raise livestock and process meat in Vietnam.

Chinh added that Vietnam and Brazil, the world’s second- and first-largest coffee producers, respectively, have agreed to strengthen their cooperation in the coffee business.

The two governments plan to establish a joint production and export alliance, explore creating a coffee exchange, and co-develop a shared brand that reflects both nations' coffee cultures.

Prime Minister Chinh called for accelerating free trade agreement negotiations between Vietnam and MERCOSUR in the second half of 2025, as well as initiating bilateral FTA talks with Brazil.

He also pledged to improve legal frameworks on investment and labor, facilitate visas, and establish direct flights.

“The Vietnamese Government is committed to creating favorable conditions for Brazilian investors to succeed and grow sustainably in Vietnam,” said Prime Minister Chinh.

Brazil is currently Vietnam’s largest trading partner in Latin America, while Vietnam is an important partner for Brazil in Southeast Asia.

Bilateral trade between the two countries increased 12% last year, reaching nearly $8 billion. This figure accounted for one-third of Vietnam’s trade with all Latin American economies.

Both countries aim to increase this figure to $10 billion by 2025 and $15 billion by 2030. From January to May of 2025, bilateral trade amounted to $3.3 billion.