VNA reported that during the program to attend the BRICS Summit and bilateral activities in Brazil, on the afternoon of July 5 (local time), in the city of Rio de Janeiro, Politburo member and Prime Minister Pham Minh Chinh attended the Vietnam - Brazil Business Forum.
Currently, Brazil is Vietnam's largest trading partner in Latin America with an impressive trade turnover growth every year. Last year, two-way trade turnover reached nearly 8 billion USD.
Vietnam's main export items to Brazil include phones, phone components, computers, electronic products and components, machinery, equipment, other spare parts, means of transport and spare parts, steel and various types.
Vietnam imports from Brazil mainly other ores and minerals, cotton of all kinds, animal feed and materials, soybeans, corn, wood and wood products, textile accessories, footwear.
In terms of investment, Brazil currently has 6 investment projects in Vietnam with a total registered capital of 3.83 million USD, while Vietnam has an investment project in Brazil with a registered capital of 300,000 USD.
The two countries are striving to soon increase two-way trade turnover to 10 billion USD and increase it to 15 billion USD by 2030.
Speaking at the seminar, announcing the very good and successful results of the talks with Brazilian President Luiz Inacio Lula da Silva, Prime Minister Pham Minh Chinh reiterated President Lula da Silva's idea of affirming that the two sides will make the best efforts possible and the two economies have clear strengths to complement each other, demonstrated by "What Brazil lacks, Vietnam has potential, what Brazil has strengths, Vietnam needs". For example, the fruits of the two countries are very rich but have different seasons.
The Prime Minister called on businesses of the two countries to promote connections, cooperation, investment and concretize agreements between the two leaders, deploy three key and breakthrough areas of cooperation, including agriculture; science and technology, innovation, digital transformation, telecommunications; and exploitation and processing of minerals (forge, oil and gas...), further opening the market for each other's strengths.
The Prime Minister said that on this occasion, Brazil has exported the first batch of beef to Vietnam and Vietnam has exported a shipment of pangasius - basa and tilapia to Brazil.
Brazil affirms its readiness to import more seafood and rice from Vietnam. The two sides also agreed to sign an agreement on ensuring stable and long-term food security for Brazil, in which Vietnam will export rice so that Brazil can stabilize food.
In particular, in the context of Brazil and Vietnam being the first and second largest coffee producers in the world, the two sides agreed to promote cooperation in the coffee industry, promote the formation of coffee production and export alliances, research and build coffee exchanges, build a common coffee brand and elevate the coffee enjoyment culture associated with the culture of the two peoples.
The two sides also promote a new cooperation direction of investing in the production and deep processing of on-site agricultural products to serve the markets of the two countries and export to other countries, promoting the strengths of each country, optimizing costs and harmonizing benefits.
