Hope Brazil supports Vietnamese enterprises to participate more deeply and substantially in global supply chains

The forum was organized by the Vietnamese Ministry of Finance in coordination with the Brazilian Embassy in Vietnam. Also attending were Deputy Prime Minister and Foreign Minister Bui Thanh Son, ministers, leaders of ministries, sectors and localities of the two countries.

Currently, bilateral economic and trade relations continue to grow strongly. With bilateral trade turnover reaching nearly 8 billion USD in 2024, Brazil has always maintained its position as Vietnam's largest trading partner in Latin America and Vietnam is Brazil's leading trading partner in ASEAN. The two sides are aiming to achieve the goal of bringing bilateral trade turnover to 15 billion USD by 2030.

The two sides agreed to direct relevant agencies to strengthen measures to facilitate bilateral trade and investment relations, and discussed the possibility of initiating negotiations on a preferential trade agreement between Vietnam and the Southern Common Market (Mercosur).

Regarding investment, as of October 2024, Brazil has 7 investment projects in Vietnam with a total registered capital of 3.85 million USD, mainly in the fields of manufacturing and processing industry, wholesale and retail, and scientific and technological professional activities.

Prime Minister Pham Minh Chinh and Brazilian President Luiz Inácio Lula da Silva attend the Vietnam-Brazil Economic Forum. (Photo: TRAN HAI)

At the Forum, delegates agreed that the room for economic cooperation between the two sides is still very large and not commensurate with the potential and political and diplomatic relations, especially after the two countries upgraded their relations to Strategic Partnership in November 2024.

The business communities of the two countries were introduced to each other's potential, strengths, and investment cooperation desires; at the same time, solutions were proposed to promote cooperation between the two countries, especially in areas where one side has potential and strengths and the other side has demand such as: aviation, mechanics, agriculture, etc.

Prime Minister Pham Minh Chinh and Brazilian President Luiz Inácio Lula da Silva at the Vietnam-Brazil Economic Forum. (Photo: TRAN HAI)

Speaking at the Forum, expressing his admiration for President Ho Chi Minh, the national liberation hero, world cultural celebrity, friend of the peoples of the world, Brazilian President Lula da Silva emphasized that he visited Vietnam not only as the President of Brazil but also as a close friend of Vietnam; was happy to witness the remarkable development of Vietnam between his two visits to Vietnam; and believed that Vietnam is a model for many countries to learn from.

The President said that during his visit, he had meetings with the leaders of the Party, State, Government and National Assembly of Vietnam. The two sides had very open and favorable discussions, achieving practical results, with many important cooperation documents being signed.

The Brazilian President said that although Vietnam and Brazil are geographically far apart, they are very close. Vietnam with 100 million people and Brazil with 196 million people are quite large markets for each other. Vietnam and Brazil both have diverse and unique cultures; people love sports, especially football; they are the two largest coffee producers and exporters in the world...

However, the President assessed that with nearly 8 billion USD/year as present, the trade turnover between the two countries is still modest, not commensurate with the relationship between the two countries and the desires of each country. Therefore, both sides need to make efforts to exploit the maximum trade agreements between the two countries and other frameworks that the two countries participate in to promote trade.

Delegates attending the Vietnam-Brazil Economic Forum. (Photo: TRAN HAI)

Thanking Prime Minister Pham Minh Chinh for announcing the permission to import beef from Brazil, President Lula da Silva said that Brazil will invest in beef processing plants to penetrate the ASEAN market through Vietnam; in return, Brazil is ready to act as a gateway for Vietnamese goods to enter the Mercosur bloc.

Introducing the cooperation potentials that Brazil has strengths in such as aviation, biofuel, sports, agriculture, etc., the Brazilian President suggested that businesses of the two countries, especially private enterprises, connect with each other, promote investment cooperation activities, realize and deepen the Vietnam-Brazil Strategic Partnership; suggested that the two sides study the establishment of joint funds to promote investment, develop science and technology, creating favorable conditions and trust for businesses of the two countries to cooperate and invest.

View of the Brazil-Vietnam Economic Forum. (Photo: TRAN HAI)

For his part, Prime Minister Pham Minh Chinh respectfully thanked the Brazilian President for bringing to Vietnam the warm feelings from Brazilian friends and the President himself; especially Brazil and more than 70 other countries have recognized Vietnam's market economy status.

The Prime Minister affirmed Vietnam's consistent stance of supporting an independent, strong, powerful Brazil with an increasingly important role in the region and the world; and the Brazilian people becoming increasingly happy and prosperous.

Brazilian President Luiz Inácio Lula da Silva speaks at the Vietnam-Brazil Economic Forum. (Photo: TRAN HAI)

During the President's visit, the two sides signed an Action Plan to implement the new framework of relations; agreed to upgrade the Intergovernmental Committee; and continue to promote high-level visits to further develop political, diplomatic and economic relations.

The two sides also agreed to promote trade in a more balanced direction, in which Brazil will increase imports of Vietnamese products with strengths such as electronics and agricultural and aquatic products; and open its doors to Vietnamese tra fish and shrimp.

The Prime Minister affirmed that Vietnam is ready to contribute to ensuring food security for Brazil. Vietnam is currently implementing a program of 1 million hectares of high-quality, low-emission rice.

Representatives of Brazilian corporations and businesses attended the Forum. (Photo: TRAN HAI)

The Prime Minister said that Vietnam is ready to participate in Brazilian initiatives that contribute to peace, stability, cooperation and development in the world, especially the anti-poverty initiative.

According to the Prime Minister, the Vietnam-Brazil relationship has so far converged on five main similarities and complementarities. These are similar ideals and trust; close cultural identities, especially patriotism, respect for friends, loyalty, and people-oriented development; complementary and mutually promoting economies, where the strengths of one country are the needs of the other; warm and sincere feelings; a common aspiration to fight poverty, build a strong, prosperous, civilized country, a desire for peace, cooperation, development, and strong growth, bringing happiness and prosperity to the people.

The Prime Minister gave an example of areas where both sides have strengths, so they can cooperate, such as researching the establishment of coffee trading floors. Brazil also has strengths in minerals while Vietnam is in need of strong development of the metallurgical industry. During this visit, Vietnam opened its beef market to Brazil and Brazil immediately invested with the spirit of "what is said is done, what is committed must be done".

According to the Prime Minister, there are currently many Brazilian players playing in Vietnam, and some naturalized Brazilian players have made important contributions to Vietnam winning the Southeast Asian Championship for the third time. The sincere and warm feelings we have for each other can be clearly felt. Cooperation between the two sides has no limits, no obstacles, and can be done in all areas.

The Prime Minister emphasized that by 2025, Vietnam aims to achieve GDP growth of at least 8% and is determined to achieve double-digit growth in the coming years; Vietnam really wants Brazil to cooperate to achieve this goal.

The Prime Minister hopes that in the coming time, the two sides will continue to promote cooperation, businesses will connect more, and promote the affection and cooperation mechanisms between the two countries.

The Prime Minister affirmed that Vietnam is ready to act as a bridge and an important fulcrum for Brazil to enter the ASEAN market with a population of over 600 million, the world's most dynamic economic region and the center of growth. Vietnam also thanked Brazil for being ready to act as a bridge for Vietnam to enter the Mercosur region and Latin America.

Regarding investment, the Prime Minister proposed promoting projects in the fields of green economy, digital economy, circular economy, knowledge economy; science and technology, innovation, digital transformation; energy conversion, renewable energy; minerals; agriculture, high-tech industry, etc.; focusing on "strengthening supply chains, developing supporting industries, and building a highly skilled workforce".

The Prime Minister asked Brazilian investors to continue supporting and creating conditions for Vietnamese enterprises to participate more deeply and substantially in global supply chains. Vietnam hopes that Brazilian enterprises will support Vietnam in accessing shifting investment sources, green and sustainable financial sources such as investment sources for science and technology, innovation, and the development of international and regional financial centers in Ho Chi Minh City and Da Nang.

The Prime Minister asked the Brazilian Government to support and promote the early launch of FTA negotiations between Vietnam and the Mercosur bloc; create a more favorable legal framework for bilateral business and trade activities through the signing of important cooperation documents such as investment protection agreements, agreements on labor, education and training, visa exemption, etc.

The Prime Minister said that Vietnam commits to “3 guarantees” and “3 togethers” with the Brazilian business community and investors, accordingly, the “3 guarantees” include: Ensuring that the economic sector with foreign investment capital is an important component of the Vietnamese economy; Ensuring the legitimate and legal rights and interests of investors; Ensuring the maintenance of independence, sovereignty, political stability, security, safety and security of the people.

“3 together” include: Listening and understanding between businesses, the State and the people; Sharing vision and action to cooperate and support each other for rapid and sustainable development; Working together, winning together, enjoying together, developing together; sharing joy, happiness and pride.

The Prime Minister called on businesses of the two countries to strengthen cooperation, investment, and mutual support in the spirit of "what is said must be done, what is committed must be done", valuing time, promoting intelligence and timely decisiveness, bringing benefits and material wealth to the people of the two countries, further enhancing the affection and relationship between the two countries and contributing to peace, stability, cooperation and development in the region and the world.

Source: https://nhandan.vn/mong-brazil-ho-tro-doanh-nghiep-viet-nam-tham-gia-sau-thuc-chat-hon-cac-chuoi-cung-ung-toan-cau-post868613.html