Prime Minister Pham Minh Chinh has a rountable discussion with Brazilian enterprises, September 24, 2023, during his official visit to Brazil. (Photo: VNA)

During a roundtable discussion in Sao Paulo, PM Chinh acknowledged the positive development of bilateral relations in all areas since diplomatic ties were established almost 35 years ago, adding that the two governments need to promote two-way trade and investment flows based on mutual benefit, increase business delegation exchanges, and strengthen trade and investment relations.

Affirming that Vietnam fully supports Brazilian investors to engage in successful, sustainable, and secure investments in Vietnam, the PM said he hopes that Vietnamese and Brazilian businesses will connect and cooperate to establish value chains that link the two countries and the global market.

Brazilian groups and businesses expressed an interest in collaborating with Vietnam in agriculture, food processing, renewable energy, and aerospace.

Vietnam is Brazil’s largest trading partner in Southeast Asia and Brazil is Vietnam’s largest trading partner in South America. Their trade turnover reached a record level of nearly 6.8 billion USD last year, up 6.6% from the previous year, and has tripled in the past decade.