On the evening of August 27, 2025 (Hanoi time), Minister of Industry and Trade Nguyen Hong Dien held a phone call with Brazilian Minister of Foreign Affairs Mauro Vieira to advance negotiations on the Vietnam-MERCOSUR FTA.

The call followed recent high-level exchanges, including Brazilian President Luiz Inácio Lula da Silva’s state visit to Vietnam in March 2025 and Prime Minister Pham Minh Chinh’s trip to Brazil for the expanded BRICS Summit in July.

During the talks, Minister Mauro Vieira announced that Brazil would present a proposal to launch FTA negotiations with Vietnam at the next MERCOSUR meeting in early September. He stressed that the agreement would create opportunities for both sides, particularly in agriculture, processed industries and consumer goods. Brazil, currently holding MERCOSUR’s rotating presidency, pledged to push internal consultations to pave the way for formal negotiations later this year.

Minister of Industry and Trade Nguyen Hong Dien welcomed Brazil’s support, saying the FTA would help both economies diversify export markets and supply sources amid global economic volatility, while strengthening their positions in global supply chains. He suggested that both sides aim to hold an inaugural meeting in early September to declare the start of negotiations and prepare for a first negotiating round as soon as possible.

The two ministers also agreed to step up technical coordination to promote bilateral trade and investment.

Vietnam - Brazil trade reached a record US$8 billion in 2024, up 12,2% from 2023. In the first seven months of 2025, bilateral turnover stood at around US$4,45 billion, down 3% year-on-year. Vietnam’s main exports to Brazil include phones, electronics, machinery, steel, footwear, textiles and seafood, while key imports are ores, cotton, soybeans, corn, animal feed, and wood products.

Brazil is Vietnam’s second-largest trading partner in the Americas after the United States, and its top partner in Latin America.