 Prime Minister Pham Minh Chinh is on a 4-day official visit to Brazil (Photo: VOV) |
Prime Minister Pham Minh Chinh is the first Party and government leader of Vietnam to pay an official visit to Brazil since former Party leader Nong Duc Manh’s visit in 2007. Mr. Chinh’s visit is of great importance to boosting bilateral cooperation in the coming time.
Brazil – an important partner of Vietnam in South America
Vietnam and Brazil established diplomatic relations on May 8, 1989. Vietnam opened its embassy in Brasilia in 2000 and Brazil opened its embassy in Hanoi in 1994. The two countries established a Comprehensive Partnership in May 2007.
Over the past 34 years, Vietnam-Brazil relations have developed steadily on the basis of shared values of peace, cooperation, and development. The two countries have expanded the exchange of visits at all levels. They share views on many international issues and support each other at multilateral forums. Vietnam and Brazil have enhanced bilateral cooperation in diplomacy, defense, agriculture, science, technology, education, training, and culture.
Brazil is Vietnam’s leading economic partner in South America. Brazil, the world’s 5th largest country, with a population of more than 211 million people, is a high-potential market for Vietnamese businesses. Brazil is also a gateway for Vietnam to penetrate other Latin American markets.
Vietnam is a gateway for Brazilian businesses to penetrate markets in ASEAN and other Asian countries. Vietnam exports to Brazil seafood, animal fat, rice, iron, steel, ceramics, electronic components, footwear, and clothing, and imports from Brazil zinc, plastic, meat, by-products for food processing, rubber, textiles, and fibers. In 2022 bilateral trade totaled nearly 6.8 billion USD. Brazil now has six investment projects in Vietnam with a combined registered capital of more than 3.8 million USD. The two have the potential to expand current development cooperation, as the South American Common Market (MERCOSUR), including Brazil, wants to strengthen economic, trade, and investment cooperation with Vietnam.
New opportunities for bilateral cooperation
In celebrating 35 years of their diplomatic ties in 2024, Vietnam and Brazil are further strengthening bilateral cooperation, promoting the Joint Committee and Political Consultation mechanisms, expanding dialogue and cooperation between ministries, sectors, and businesses, fine-tuning the legal framework to promote cooperation in trade, investment, and agriculture, as well as people-to-people exchanges and cooperation between friendship organizations and localities.
Prime Minister Chinh's visit is expected to open up opportunities for bilateral cooperation in climate change response, new energy development, digital transformation, energy and food security, regional integration, sustainable growth, and equality in international relations.
During Mr. Chinh's visit, the Vietnam-Brazil Business Forum will be held, creating opportunities for further cooperation between the two countries’ businesses. Promoting strengths and potentials in economics, trade, and technology will have a synergistic effect on socio-economic development in both countries.
The Vietnamese PM's visit also aims to strengthen political trust, deepen multifaceted cooperation, and make bilateral cooperation more practical and effective in politics, diplomacy, economics, trade, investment, culture, education and tourism. The visit is expected to bring the Vietnam-Brazil Comprehensive Partnership to a new height.