Hanoi, March 30, 2025 – Brazil is set to increase its imports from Vietnam, according to Brazilian President Luiz Inácio Lula da Silva. Speaking at the Vietnam-Brazil Economic Forum in Hanoi on Saturday, the president highlighted the potential for expanded trade between the two nations.
During the event, President Lula da Silva acknowledged Vietnam’s decision to allow the import of Brazilian beef, a move that he noted would facilitate the entry of the product into the ASEAN market through Vietnam. He also announced that a Brazilian company plans to invest $100 million in establishing a beef processing plant in Vietnam.
The two nations are currently negotiating a free trade agreement between Vietnam and the Southern Common Market (Mercosur). President Lula da Silva stated that such an agreement could enhance trade by positioning Brazil as a gateway for Vietnamese exports to Latin America.
In the aviation sector, Brazilian aerospace manufacturer Embraer is exploring opportunities to supply civilian aircraft to Vietnam Airlines. The company is also considering establishing a training center in Vietnam and collaborating with the country’s Air Force.
The Brazilian president encouraged stronger investment ties between businesses from both countries, particularly among private enterprises. He suggested the creation of joint funds to promote investment and technological development, facilitating cooperation across industries.
Vietnamese Prime Minister Pham Minh Chinh welcomed Brazil’s recent recognition of Vietnam as a market economy. He noted that this decision could open opportunities for Vietnamese exports such as tra fish, basa fish, and shrimp. To further balance trade, PM Chinh proposed increasing Brazilian imports of Vietnamese products, including electronics, agricultural goods, and seafood.
The Prime Minister emphasized Vietnam’s potential contribution to Brazil’s food security, citing the country’s efforts in developing one million hectares of high-quality, low-emission rice in the Mekong Delta region. He highlighted the complementary nature of the two economies, noting that Brazil’s strengths in minerals and food production align with Vietnam’s industrial and agricultural needs.
During their discussions, the two leaders explored potential collaboration in coffee trading, metallurgy, and supply chain development. The Vietnamese Prime Minister also encouraged Brazilian investment in sectors such as the digital economy, renewable energy, high-tech agriculture, and industry.
Vietnam has expressed interest in acting as a bridge for Brazil to expand its presence in the ASEAN market, which has a population of 600 million. Additionally, Vietnam seeks Brazil’s support in advancing negotiations for a free trade agreement with Mercosur, aiming to establish a more favorable legal framework for trade and investment.
The discussions also covered key areas such as investment protection, labor cooperation, education and training, and visa exemptions. Both sides underscored the importance of strengthening supply chains, supporting industries, and fostering a skilled workforce to enhance bilateral trade and economic collaboration.
With continued dialogue and cooperation, Vietnam and Brazil aim to further expand their economic partnership, leveraging their respective strengths to enhance trade and investment opportunities.
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