On the other hand, the signing of many economic and trade cooperation agreements between the two countries has laid a favorable legal foundation, creating conditions for import-export and investment activities.
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| Prime Minister Pham Minh Chinh receives the Brazilian Minister of Foreign Affairs. (Photo: VGP) |
Achievements of 35-year cooperation and development
At a recent international seminar to seek solutions to promote the Vietnam-Brazil relations in the new contex, Associate Professor, Dr. Ta Minh Tuan, Vice President of Vietnam Academy of Social Sciences, said that the relationship between the two countries has made significant progress over the past 35 years, from Friendly Cooperation to Comprehensive Partnership in 2007. In the context of increasingly deep globalization, the importance of bilateral cooperation between the two countries is increasingly affirmed.
Brazil is now Vietnam’s largest trading partner in Latin America with two-way trade turnover of 7.11 billion USD as of 2023. The two countries are making efforts to promote negotiations on the Free Trade Agreement between Vietnam and the Southern Common Market (MERCOSUR). This will promote economic cooperation between the two sides.
Associate Professor Ta Minh Tuan said that despite large geographical distance, the two countries still share many similarities in culture, history and development, creating a solid foundation for the process of expanding and strengthening cooperation in many fields. However, he commented that the relationship between the two countries is not consistent with the actual needs and potential of each side, and it is necessary to maximize cooperation opportunities in the future.
According to Dr. Le Thi Van Nga, Director of the Center for Latin American Studies (Institute of American Studies), since establishing diplomatic relations in 1989 and becoming comprehensive partners in 2007, Vietnam and Brazil have had many important steps forward in cooperation in fields such as agriculture, renewable energy, technology, education and defense. Notable cooperation agreements include the Agreement on Cultural Cooperation, Defense Cooperation, and Science and Technology. In the field of agriculture, Vietnam and Brazil are both large exporting countries, with complementary product structures, creating many opportunities for cooperation. Regarding defense, the two countries signed a Memorandum of Understanding in 2023 to strengthen cooperation. In the field of technology, both countries are developing strongly and have the potential to cooperate in the global supply chain.
Brazil, an untapped market for Vietnamese enterprises
On the business side, many companies and organizations proposed establishing direct flights, organizing Vietnam Festival in Brazil; and building information connection points for businesses. Mr. Truong Tuong Lan, Director of Nam Cuong Travel Joint Stock Company, shared that he has decided to set up a representative office in Brazil and use Vietnamese human resources there. However, seeking qualified personnel who know Portuguese is still a big challenge. “We also plan to invite tourism survey delegations from Brazil to Vietnam to learn about and expand the market, hoping to open up many new cooperation opportunities,” said Mr. Lan.
Meanwhile, Mr. Nguyen Kim Thai, Director of One Material Production and Export Company Limited, shared that this enterprise is looking for opportunities to expand the market to South America, especially Venezuela and Brazil.
“To realize the move, we have cooperated with the embassy and local partners, and plan to conduct a market survey trip and meet potential partners,” he said.
In response to the need to look up official information about businesses in the host country, Mr. Nguyen Kim Thai emphasized the importance of connection and support from embassies and trade offices to achieve the set goals.
“We hope to receive more support from state agencies in promoting trade and connecting businesses. Clear information about business channels, industries and the needs of each market will help us carefully prepare for meetings and agreements,” said Thai.
Vietnam and Brazil have a lot of potential and many bright spots for cooperation due to many similarities, young populations, development needs, shared interests in science and technology, as well as many visits by leaders of both sides. Brazil always supports Vietnam in the development process of the country. These are important factors, creating the premise for deeper and more sustainable cooperation between the two countries in the future. /.