Vietnam, Brazil collaborate to establish trade offices, strengthen partnership

28 Jan, 2025

Vietnamese Ambassador to Argentina, Bui Van Nghi, recently concluded a working visit to Brazil’s Espirito Santo state to enhance cooperation in economic, trade, investment, and education sectors. During his meeting with Governor Renato Casagrande, the Ambassador proposed establishing trade representative offices to leverage the strategic partnership between Vietnam and Brazil. This initiative aims to strengthen bilateral economic ties and increase trade exchanges between the two nations. The proposal was positively received, and both parties agreed to work towards creating a dedicated space for showcasing Vietnamese and Espirito Santo products, fostering cultural exchange and business collaboration.

Ambassador Nghi also commended Espirito Santo’s modern seaport infrastructure and strengths in natural resource extraction, agriculture, and tourism. He expressed Vietnam's interest in deepening ties with the region and pledged to facilitate twin relations between Vietnamese and Brazilian localities with similar economic conditions. This initiative is expected to create new opportunities for businesses and encourage further investments in various sectors, including logistics, manufacturing, and tourism. The cooperation is seen as a significant step in promoting sustainable economic growth and mutual development.

According to the Vietnam News Agency, the trade volume between Vietnam and Brazil reached an all-time high of US$7.9 billion in 2024, compared to US$7.1 billion in 2023. This growth highlights the increasing economic collaboration between the two countries. The establishment of trade representative offices is anticipated to further boost trade and investment opportunities by facilitating business connections, promoting Vietnamese products, and expanding market access for Brazilian enterprises.

The visit by Ambassador Nghi signifies Vietnam's commitment to strengthening diplomatic and economic relations with Brazil. It also underlines the potential for deeper cooperation in sectors of mutual interest, contributing to the long-term strategic partnership between the two nations. The collaboration is expected to drive innovation and economic development in both countries.

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