Gateway for Vietnamese goods to enter Mercosur

(NLDO)- Vietnam is ready to act as a bridge for Brazil to access the ASEAN market. In return, Brazil will support Vietnam to enter the South American Common Market (Mercosur).

Within the framework of the State visit to Vietnam of Brazilian President Luiz Inácio Lula da Silva, on the morning of March 29, Prime Minister Pham Minh Chinh and President Lula da Silva attended the Vietnam - Brazil Economic Forum with leaders of ministries and business communities of the two countries.

Prime Minister Pham Minh Chinh and Brazilian President Lula da Silva attend the Vietnam - Brazil Economic Forum. Photo: VGP

Despite global economic challenges, Vietnam-Brazil trade turnover reached nearly 8 billion USD in 2024, with the target of 15 billion USD in 2030. The two sides agreed to strengthen trade and investment cooperation and promote negotiations on a preferential trade agreement between Vietnam and the Southern Common Market (Mercosur).

The Brazilian President affirmed his readiness to facilitate Vietnamese goods to penetrate the Mercosur market. He also expressed his joy at witnessing Vietnam’s strong development and emphasized the potential for cooperation between the two countries in aviation, mechanics, energy, agriculture and science and technology.

At the Forum, businesses from both countries proposed solutions to promote cooperation in areas of strength such as processing industry, retail, and food export. Brazil committed to investing in a beef processing plant in Vietnam to access the ASEAN market, while Vietnam is ready to supply seafood and electronics to Brazil.

Prime Minister Pham Minh Chinh said that during the visit, the two sides signed an Action Plan to implement the framework of the Strategic Partnership; agreed to upgrade the Intergovernmental Committee; and continue to promote high-level visits to further develop political, diplomatic and economic relations.

Prime Minister Pham Minh Chinh and President Lula da Silva witnessed the signing ceremony and exchange of the Memorandum of Understanding on investment cooperation in Vietnam between three parties: JBS Group, the Investment Promotion, Information and Support Center (Ministry of Finance) and Sao Do Investment Group. Photo: VGP (JBS SA Brazil is the world's largest livestock and poultry meat processing group - PV)

The two sides also agreed to promote trade in a more balanced direction, in which Brazil opens its doors to Vietnamese tra fish, basa fish and shrimp, while increasing imports of Vietnamese products with strengths such as electronics and agricultural and aquatic products. Vietnam affirmed its readiness to contribute to ensuring food security for Brazil. Vietnam is ready to participate in Brazil's initiatives to contribute to peace, stability, cooperation and development in the world, especially the anti-poverty initiative.

Vietnam called on Brazil to invest in the green economy, digital transformation, renewable energy and supporting industries. The two countries also agreed to study the establishment of joint funds to promote investment, science and technology and human resource training.

Vietnam is committed to improving the investment environment, reducing administrative procedures, developing transport, energy and information technology infrastructure, and is ready to act as a bridge for Brazil to access the ASEAN market. In return, Brazil will support Vietnam to enter the Mercosur market.

Prime Minister Pham Minh Chinh stressed that the Vietnam-Brazil relationship has no limits and can develop in all areas. He called on businesses from both countries to cooperate closely, realize commitments, and contribute to promoting economic growth and bilateral relations.

Source: https://nld.com.vn/brazil-cua-ngo-de-hang-hoa-viet-nam-vao-mercosur-196250329155014848.htm