A seminar themed “Vietnam-Brazil relationship: potential and opportunities” was held in Hanoi on November 30 to provide a platform for discussions on ways to promote bilateral trade and investment.
Hanoi (VNA) – A seminar themed “Vietnam-Brazil relationship: potential and opportun🎐ities” was held in Hanoi on November 30 to provide a platform for dis💛cussions on ways to promote trade and investment between the two countries.
President of Vietnam’s Academy of Social Sciences (VASS) Nguyen Van Thang reviewed the outcomes of bilateral cooperation in recent years, especially in economics, trade and investment.
Two-way trade between Vietnam and Brazil hit 3.18 billion USD last year from 47 million USD in 2003. In 2008-2014, total exports and imports grew annually by 41 percent.
Brazilian Ambassador Marco Brandao touched upon business opportunities in aviation, agriculture, energy and transport, among others.
Cu Chi Loi, Director of the VASS’s Institute of American Studies, said Vietnam and Brazil are key bridges to enter regional markets. Bilateral ties are expected to grow robustly as the two countries integrate further into their respective regions.
He suggested formulating a free trade agreement, issuing trade and investment support mechanisms, promoting the launch of banks and convenient payment methods, and expanding people-to-people and cultural exchanges.
Participants discussed Brazil’s foreign policy and ties with Vietnam, business support for Vietnamese firms and Brazilian business activities in Vietnam.
The event was co-hosted by the Vietnam-Brazil Friendship and Cooperation Association and the VASS’s Institute of American Studies.-VNA
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Visiting Brazilian Minister of External Relations Mauro Luiz Vieira expressed his high expectations for the Brazilian President’s upcoming visit to Vietnam and the prospects of the bilateral ties during a meeting with Prime Minister Nguyen Tan Dung in Hanoi on July 27.
Brazil wishes to strengthen its comprehensive partnership with Vietnam with a view to lifting two-way trade to 10 billion USD by 2020, Brazilian President Dilma Rousseff has said.
Vietnam continually values Brazil’s increasing role in the Asia-Pacific and globally and looks to develop its bilateral cooperation in agro-industry, science and technology, biotechnology, aviation and education.
Vietnam’s bilateral trade with Brazil will possibly reach 4 billion USD this year, up nearly 20 percent from the previous year, the Ministry of Industry and Trade has said.
Vietnamese Ambassador to the US Nguyen Quoc Dung reviewed key milestones in the bilateral relationship, underscoring the essential and sustained contribution by businesses from both countries, from the time before the normalisation of bilateral ties in 1995 until today, when the two sides are comprehensive stategic partners of each other.
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Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
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A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
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