Prime Minister Pham Minh Chinh affirmed that Vietnam fully supports Brazil's opening of an office of the Brazilian Chamber of Commerce and Industry in Vietnam, and suggested that Brazilian and Vietnamese businesses further promote science and technology transfer.
On the morning of September 24 local time, in Sao Paulo City (Brazil), Prime Minister Pham Minh Chinh attended and spoke at a seminar with Brazilian businesses, within the framework of his official visit to this country, at the invitation of President Lula da Silva.
According to the Prime Minister, the diplomatic relationship between Vietnam and Brazil is a traditional friendship, but due to the great geographical distance, the scale of trade is not commensurate, there is still much room. "Tomorrow in the talks with the President of Brazil, we will definitely discuss major solutions to solve this problem," said the Prime Minister.
Prime Minister Pham Minh Chinh meets with representatives of Brazilian businesses
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Minister of Industry and Trade Nguyen Hong Dien said that in 1989, when Vietnam and Brazil established diplomatic relations, bilateral trade turnover was only 16 million USD, but now it has reached 6.8 billion USD. "6.8 billion USD is less than 1% of Vietnam's turnover with the world. If you do business with Vietnam, you will not only do business with a market of 100 million people but also be the gateway to the market of 600 million people in the ASEAN region. Similarly, if Vietnam opens the market with Brazil, it will not only be a market of more than 200 million people in Brazil but also an opportunity with the South American market of more than 400 million people," said Minister Dien.
Brazilian Ambassador to Vietnam Marco Farani hopes to promote cooperation between the two countries in the fields of agriculture, technology, and renewable energy .
Promote science transfer
At the end of the discussion, Prime Minister Pham Minh Chinh said that Vietnam is focusing on three strategic breakthroughs: perfecting the market economy institution, oriented towards socialism; administrative reform, training high-quality human resources, meeting labor needs in the new period; developing infrastructure, especially transport and telecommunications infrastructure, to help businesses reduce input costs and increase competitiveness. Thereby, the Prime Minister hopes that Brazilian businesses will give Vietnam feedback in this process.
Affirming that Vietnam fully supports Brazil's opening of an office of the Brazilian Chamber of Commerce and Industry in Vietnam, the Prime Minister suggested that Brazilian and Vietnamese enterprises further promote the transfer of science and technology; strengthen connections to understand, share and cooperate, and develop together. Along with that, with a rich culture and developed high-performance sports, Vietnam and Brazil continue to promote cooperation in the fields of culture, tourism and sports.
The Prime Minister hopes that with the current good political relations, more Brazilian enterprises will come to Vietnam to invest, produce and do business in the spirit of win-win, "harmonious benefits, shared risks".
Appreciating the goodwill of Brazilian enterprises to cooperate, the Prime Minister said that Vietnam is actively negotiating with Brazil on free trade agreements, investment protection, double taxation avoidance, etc., creating favorable conditions for enterprises to cooperate and develop. Therefore, he suggested that enterprises of both sides actively participate and concretize cooperation mechanisms into specific programs and projects. Striving to bring two-way trade turnover to 10 billion USD by 2025, reaching 15-20 billion USD by 2030 in a more balanced direction.
Bilateral trade continues to grow
Vietnam and Brazil established diplomatic relations in 1989. The two countries established a comprehensive partnership framework in May 2007 during the official visit to Brazil by General Secretary Nong Duc Manh.
In terms of trade, Brazil is Vietnam's largest trading partner in Latin America and second in the Americas (after the US). In 2022, two-way trade turnover reached a record of 6.78 billion USD, up 6.6% over the same period in 2021, of which Vietnam exported 2.24 billion USD and imported 4.55 billion USD.
Trade exchange in the first 6 months of 2023 reached approximately 3.3 billion USD, of which Vietnam exported 1.29 billion USD (up 15.4% over the same period in 2022) and imported 2.01 billion USD (down 20.4 billion USD).
Vietnam's main export items to Brazil are phones of all kinds and components, computers, electronic products and components, machinery, equipment, other spare parts, means of transport and spare parts, iron and steel of all kinds, footwear of all kinds, textile fibers and yarns of all kinds, seafood...
Vietnam's main import items are ores and other minerals, cotton of all kinds, animal feed and raw materials, soybeans, corn, wood and wood products, textile, garment and footwear raw materials...
Regarding the negotiation of a free trade agreement (FTA) between Vietnam and the South American Market Community (MERCOSUR), Vietnam is actively lobbying Brazil to pay attention to promoting the early launch of FTA negotiations during its presidency in the last 6 months of 2023.
Regarding investment, Brazil currently has 6 investment projects in Vietnam with a total registered capital of 3.83 million USD, mainly in the field of manufacturing and processing industry (accounting for 68% of registered capital); wholesale and retail (26.6%); professional scientific and technological activities (2.8%); Vietnam has 1 investment project in the field of commercial business of Ton Nhat Huong Trading Company Limited and 1 capital adjustment project with a total registered capital of 300,000 USD in Brazil.
Thanhnien.vn
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