Speaking at the event, Director of the Vietnam Chamber of Commerce and Industry (VCCI) branch in Ho Chi Minh City Vo Tan Thanh said two-way trade between the two countries hit USD 3 billion in 2016.

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In the first nine months this year, the figure neared USD 2.6 billion, up 13 percent annually. Vietnam mainly exports phones and electronic equipment, aquatic products, rubber, synthetic fiber and apparel to Brazil and imports industrial products, iron and steel, and beans.

In recent years, Brazil has been listed among the five largest emerging economies globally with a 200 million population. The two countries also have room for collaboration across agriculture, tourism, science-technology and education-training.

Vice Governor of Maranhao state of Brazil Carlos Brando said Vietnam and Brazil share similarities in soil and weather conditions and supplementary advantages. Vietnam has strengths in rice production, aquaculture, and fishing while Brazil has abundant land, mild climate, and low-cost workforce, making it easier for the two nations to partner in agriculture.

The Brazilian side wished that the two countries’ authorities would boost trade and investment promotion to contribute to bilateral ties.

Source: VNA