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Deputy Prime Minister Vuong Dinh Hue (middle) at the Vietnam-Brazil trade
and investment forum (Photo: VNA)
Addressing a Vietnam-Brazil trade and investment forum with the participation of
representatives of about 100 enterprises of both sides, the Deputy PM
highlighted cooperation potential between the two countries.
Vietnam has recorded a high growth rate over the past many years, and will be a
gateway for Brazil to access the ASEAN markets and free trade areas in which
Vietnam is a member, while Brazil can help Vietnam penetrate the South American
trade bloc (MECOSUR), he said.
Along with the agreements signed on aviation, agriculture and cooperation deals
between the Chambers of Commerce and Industry of the two countries, Vietnam and
Brazil have finalised agreements on defence, especially in the defence industry,
while heading to the signing of an investment protection agreement and another
on double taxation avoidance.
Deputy PM Hue expressed his belief that ties between the two countries will
thrive in the future through specific programmes.
Vietnam can become a top importer of Brazil’s maize and soybean, and will
consider buying beef from the country, he said, suggesting that Brazil import
more coffee, tra fish and shrimp from Vietnam.
He underscored that Vietnam is willing to cooperate with Brazil in farming
machine manufacturing, safe agricultural production, tourism, education and
training, and pharmaceuticals.
Alencar Burti, President of the Sao Paulo Chamber of Commerce, said that the
forum creates a chance for Vietnam to attract more investment from Sao Paulo,
and foster partnership between the business communities of both sides.
Earlier the same day, at a meeting with Ambassador Rubens Barbosa, President of
the Federation of Industries of Sao Paulo State (FIESP), Deputy PM Hue proposed
that the FIESP strengthen cooperation with Vietnam’s big cities such as Ho Chi
Minh City, while engaging in the restructuring and acquisition of State-owned
enterprises as well as the reform of banking system and the construction of
agricultural processing plants in Vietnam, thus involving deeper in Vietnam and
ASEAN markets.
During his stay in Sao Paulo, Deputy PM Hue also held meetings with some leading
enterprises and business associations of Brazil such as the Brazilian
Association for Fisheries Promotion (ABRAPES), the Brazilian Association of
Fisheries Industries (ABIPESCA), aerospace companies Embraer and Avibras, and
Eurofarma medical company.
At the meetings, the Deputy PM briefed the businesses on important agreements
reached during his visit, as well as political determination of leaders of both
countries in boosting two-way trade, positive response of Brazil to Vietnam’s
proposal to consider Vietnam’s market economy regulations in 2018, and the
building of legal framework for bilateral trade.
He held that the Vietnamese and Brazilian economies can supplement each other,
but current investment cooperation has yet to match the potential.
Vietnam welcomes businesses to take advantage of favourable conditions created
by the Vietnamese and Brazilian Governments to seek stronger partnership, he
stressed.
Brazilian enterprises expressed their interest in the Vietnamese market and
opportunities to import Vietnamese aquatic products such as shrimp and tuna, as
well as export soybean and beef to Vietnam.
They also sought partners to import under-150-seat airplanes, while showing
willingness to exchange experience with their Vietnamese peers in producing and
distributing ethanol petrol, forge stronger partnership in the defence industry,
and consider the expansion of cooperation to new areas of high technology,
finance-banking, education and medicine.
Deputy PM Hue pledged that the Government of Vietnam will support and encourage
domestic firms to seek partners in Brazil.
Source: VNA
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