PM’s trip to bolster Vietnam-Brazil comprehensive partnership

Prime Minister Pham Minh Chinh (L) meets with Brazilian President Luiz Inácio Lula da Silva on May 21, 2023 (Photo: VNA)

This trip marks a significant milestone as the two sides are celebrating 35 years of diplomatic relations (May 8, 1989 – 2024) and 17 years of their comprehensive partnership (May 2007 – 2024).

35 years of close cooperation, strong trust

Despite the geographical distance, the people of Vietnam and Brazil share many things in common such as sincerity, hospitality, and a deep sense of friendship. On May 8, 1989, the two countries formally established diplomatic relations, ushering in a long-lasting and stable period of bilateral cooperation. Since then, they have built a solid and comprehensive relationship based on mutual trust and understanding.

In May 2007, during the official visit of Party General Secretary Nong Duc Manh to Brazil, the two countries elevated their ties to a comprehensive partnership, which has significantly deepened bilateral ties across all fields, including Party, State, parliamentary, and people diplomacy.

Both nations see each other as key partners in their respective region, with Brazil recognising Vietnam as a vital partner in the Asia-Pacific, and Vietnam’s high evaluation of Brazil's growing international stature.

Political relations between the two countries have become increasingly robust, as reflected in numerous high-level visits and exchanges.

Prime Minister Pham Minh Chinh paid an official visit to Brazil in September 2023, which led to the signing of several important agreements, contributing to boosting bilateral cooperation in diplomacy, trade, security, science and technology, as well as cultural exchange.

The two countries have maintained close cooperation within international organisations and multilateral forums, particularly at the United Nations and the World Trade Organisation (WTO). Additionally, they have worked closely together to promote collaboration between ASEAN and the South American Common Market (MERCOSUR).

A leading trade and economic partner

Brazil is currently Vietnam's leading trade partner in Latin America. Trade between the two countries has grown significantly, from 1.53 billion USD in 2011 to 6.78 billion USD in 2022. The figure surpassed 7.1 billion USD in 2023, and reached 6.58 billion USD in the Jan-Oct period of 2024. Both nations aim to increase bilateral trade to 10 billion USD by 2025 and 15 billion USD by 2030.

Vietnam primarily exports seafood, rubber, textiles, footwear, and steel to Brazil, while importing soybeans, wheat, corn, animal feed, and cotton. Brazil also plays an important role in global food security as one of the world’s largest food exporters.

In terms of investment, Brazil had committed 3.85 million USD in seven projects in Vietnam as of October 2024, mainly in the manufacturing, retail, and science-technology sectors.

According to Brazilian Ambassador to Vietnam Marco Farani, his country is one of the world's largest food exporters and plays a key role in global food security. This is one of the main reasons why the Brazilian government has been highlighting the issue of hunger and poverty in the world, so that everyone can be free from the threat of hunger and malnutrition.

Furthermore, science, technology, and innovation are pillars of development in Brazil and the government has dedicated resources to the implementation of projects in these areas, such as artificial intelligence, semiconductors production and digital transformation. It has green technology and a mature vision of how to harmonise production levels with sustainability, said the diplomat.

The ambassador held that the Brazilian and Vietnamese economies have similarities, but also a high degree of complementarity, which helps attract entrepreneurs from various sectors and increase the prospects for new opportunities in this sector.

The two countries have the conditions to further enrich and diversify bilateral cooperation with stability in their economies and policies , a growing population, low inflation rates, high employment rates, and a commitment to innovation, environmental sustainability and social inclusion, he added.

Meanwhile, Vietnamese Ambassador to Brazil Bui Van Nghi highlighted Brazil as a member of the MERCOSUR which counts nearly 300 million consumers, representing about 70% of South America's population, a highly promising market for Vietnam’s exports, including textiles, footwear, handicrafts, and processed foods. He highlighted that Vietnam is keen on starting negotiations for a free trade agreement with the MERCOSUR.

Nghi said that Brazil can serve as a gateway for Vietnam to access Latin American markets, as well as the broader MERCOSUR bloc. Meanwhile, Vietnam can act as a bridge for Brazil to enter the vast ASEAN market, home to over 650 million people, and an even larger market of 800 million people within the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Opening of new cooperation opportunities

PM Chinh's trip to Brazil is an important step in further strengthening the bilateral relationship. Ambassador Nghi highlighted that the visit showcases Vietnam’s strong support for Brazil and represents the political will of both countries to advance their partnership to new heights.

Ambassador Farani said that it testifies a relevant degree of progress in mutual trust built between these two countries over the years, which reaffirmed positive prospects for deepening bilateral relations in important areas of bilateral cooperation. At the same time, it illustrates Vietnam's commitment to issues of great importance on the international stage, such as sustainability, poverty reduction, and a more equitable distribution of decision-making power in the world.

According to Deputy Foreign Minister Pham Thanh Binh, the trip will significantly deepen political trust, open new areas for cooperation, and ensure tangible benefits for both peoples. During the G20 Summit, PM Chinh will hold talks with Brazilian President Lula da Silva to review high-level agreements and explore further actions to enhance the bilateral relationship./.