The Prime Minister affirmed his wish to work with the Brazilian Government to promote bilateral trade and investment relations to develop more strongly, commensurate with the potential of the two countries.
On the afternoon of February 13, receiving Mr. Renato Costa, General Director of Friboi Company under JBS SA Brazil and the Brazilian Ambassador to Vietnam, Prime Minister Pham Minh Chinh proposed to promote negotiations and sign the Vietnam-South American Common Market (MERCOSUR) Free Trade Agreement.
At the reception, welcoming the leaders of JBS SA Brazil to visit Vietnam, Prime Minister Pham Minh Chinh recalled the good impressions during his visit to Brazil in September 2023, the occasion of attending the G20 Summit in Rio de Janeiro in November 2024 and having a working session with the leaders of JBS SA Brazil to promote cooperation and investment in Vietnam.
JBS SA Brazil is the world's largest livestock and poultry processing enterprise with revenue of 74 billion USD in 2023, investing and doing business in 24 countries, including Vietnam.
The Prime Minister expressed his delight at the fact that the Vietnam-Brazil relationship continues to make substantial progress, especially the upgrading of the relationship to a Strategic Partnership in November 2024.
Brazil continues to be Vietnam's largest trading partner in Latin America with two-way turnover in 2024 reaching approximately 8 billion USD (an increase of 12.2% compared to 2023).
The Prime Minister affirmed his desire to work with the Brazilian Government to promote bilateral trade and investment relations to develop more strongly, commensurate with the potential of the two countries and to concretize the Strategic Partnership framework.
Sending regards to the Brazilian leaders and saying that Vietnam looks forward to Brazilian President Lula da Silva's return to Vietnam soon, Prime Minister Pham Minh Chinh said that although the two countries are geographically far apart, their political and diplomatic relations are very close, the two economies have many complementary advantages, and the people of the two countries have good feelings for each other.
In the context of many new developments in the world and the region such as trade tensions, the two countries need to strengthen cooperation, including areas of interest to JBS SA.
The Prime Minister asked the Brazilian Ambassador to Vietnam and the Brazilian business community to have a voice in promoting negotiations and signing of the Vietnam-South American Common Market (MERCOSUR) Free Trade Agreement, as well as agreements between the two countries on trade, investment, labor, visas, and double taxation avoidance; and Brazil's recognition of Vietnam's market economy status.
On that basis, the two sides will strengthen trade cooperation in a balanced direction, promote investment, and boost business connections to promote complementary advantages between the two economies.
The Prime Minister said that Vietnam has many advantages and potentials, and has many policies to encourage the development of the agricultural sector - a pillar that plays a very important role in the economy.
Vietnam's market is quite large with 100 million people, high and stable growth, rapidly increasing consumer demand; has a system of 17 Free Trade Agreements with over 60 important economic partners, along with a strategic location and a strongly developing logistics infrastructure system, easily connecting with markets in Asia, Europe and America.
The Prime Minister suggested that JBS SA expand cooperation and investment in Vietnam in areas where the group has strengths such as livestock farming, meat processing, research and cooperation in the fields of industrial crops, coffee processing, etc.; cooperate to diversify markets, products, and supply chains; and connect other businesses to cooperate and invest with Vietnam.
Informing that Vietnam wants to strengthen mineral cooperation with Brazil and is ready to act as a bridge between Brazilian businesses and Southeast Asia as well as markets with which Vietnam has signed FTAs, the Prime Minister affirmed that Vietnam will create favorable conditions for the group to do business in the spirit of harmonious benefits and shared risks.
Thanking Prime Minister Pham Minh Chinh for taking the time to meet him, Mr. Renato Costa said that the working trip aimed to discuss with relevant agencies and partners to explore the potential for expanding investment and cooperation with Vietnamese enterprises, meeting the needs of the Vietnamese market which is growing strongly, has great potential, and has very open investment opportunities, as well as taking advantage of opportunities from Vietnam to penetrate the Southeast Asian market in particular and Asia in general.
Mr. Renato Costa expressed his hope that the Vietnamese Government would continue to create favorable conditions for JBS SA in its business activities and investment expansion; committed to further promoting connections between Brazilian and Vietnamese businesses, promoting cooperation in areas as suggested by the Prime Minister./.
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