Vietnam - Brazil Business Conference brings together many businesses from both countries looking for opportunities

The event organized by the Embassy of Brazil in Vietnam and VCCI saw the participation of Mr. Phung Duc Tien, Deputy Minister of Agriculture and Rural Development of Vietnam; Mr. Roberto Serroni Perosa, Deputy Minister of Agriculture and Livestock of Brazil; and Mr. Marco Farani, Ambassador of Brazil to Vietnam.

Ms. Tran Thi Lan Anh affirmed that over 35 years of diplomatic relations establishment (1989-2024), the friendship and cooperation between Vietnam and Brazil have continuously been strengthened and developed in all areas. Particularly, since the two countries established a comprehensive partnership framework, the economic and trade relations between Vietnam and Brazil have made remarkable strides.

Vietnam is currently the largest trading partner of Brazil in Southeast Asia, and conversely, Brazil is the largest trading partner of Vietnam in Latin America. In 2023, bilateral trade turnover reached a record of USD 7.11 billion. Furthermore, with complementary economic structures, Vietnam and Brazil still have ample room for development, aiming to increase bilateral trade turnover to USD 10 billion by 2025 and USD 15 billion by 2030.

To seize opportunities and cope with challenges in a rapidly changing world, Ms. Lan Anh emphasized that businesses of both countries need to be proactive, innovative, and more closely connected to overcome difficulties, seize the opportunity of the digital technology revolution, and strive for sustainable development. Especially in sectors where there are still many opportunities for cooperation and investment, such as agricultural machinery, animal feed ingredients, clean agriculture, biotechnology, and high technology.

The event was co-organized by the Brazilian Embassy in Vietnam and VCCI with the participation of Mr. Phung Duc Tien, Deputy Minister of Agriculture and Rural Development of Vietnam, Mr. Roberto Serroni Perosa, Deputy Minister of Agriculture and Livestock of Brazil , Mr. Marco Farani, Brazilian Ambassador to Vietnam.

Ms. Tran Thi Lan Anh affirmed that after 35 years of establishing diplomatic relations (1989-2024), the friendship and cooperation relationship between Vietnam and Brazil has been continuously strengthened and developed in all fields. In particular, since the two countries established a comprehensive partnership framework, economic and trade relations between Vietnam and Brazil have made great progress.

Vietnam is currently Brazil's largest trading partner in Southeast Asia and vice versa, Brazil is Vietnam's largest trading partner in Latin America. In 2023, two-way trade turnover has reached a record level of 7.11 billion USD. Not only that, with a complementary economic structure, Vietnam and Brazil still have much room for development, aiming to increase bilateral turnover to 10 billion in 2025, 15 billion in 2030.

To take advantage of opportunities and respond to challenges in a rapidly changing world, Ms. Lan Anh believes that businesses from both countries need to be more proactive, creative and connected to overcome difficulties and seize the moment. engine of the digital technology revolution, towards the goal of sustainable development, especially in areas where the two sides still have many areas for cooperation and investment such as agricultural machinery, animal feed materials, and agriculture. clean, biotechnology, high technology.

VCCI Secretary General Tran Thi Lan Anh affirms that she will support to promote bilateral trade between Vietnam and Brazil in the future.

The governments of both countries will continue to develop their good cooperation relationship based on the Comprehensive Partnership, promoting negotiations for a Free Trade Agreement (FTA) between Vietnam and the Southern Common Market (MERCOSUR), ASEAN-Mercosur, and creating a favorable legal framework to enhance economic and trade cooperation.

In its role as the national organization representing the business community, VCCI will strive to support Vietnamese enterprises in enhancing extensive economic cooperation with Brazil. Moreover, it can serve as a bridge to help Brazilian businesses effectively engage in business and investment in Vietnam, continuing to contribute to the good relationship between Vietnam and Brazil.

Brazil is the world's 10th largest economy with vast land area and abundant natural resources. Besides its strengths in industry and mining, Brazil is a leading global exporter of agricultural products such as coffee, sugar, soybeans, and poultry meat.

Meanwhile, with the goal of striving to become a high-income developed country by 2045, Vietnam's economy is projected to reach $1 trillion in the next 20 years. This potential forms the basis for Brazil to organize business delegations to visit and work in Vietnam, covering diverse fields from aviation, construction, real estate, medical equipment to leather goods, and agricultural products.

According to Truong Dang (Business Forum Magazine)