Brazilian and Vietnamese delegates at the business seminar last Friday. — VNA/VNS Photo Van Diep

There is great potential to expand and diversify trade between Viet Nam and Brazil, and the two governments should enable that potential to be tapped into, the Brazilian ambassador to Viet Nam has said.

At a Viet Nam-Brazil business seminar held in Ha Noi last Friday, Fernando Apparicio da Silva said the countries had made great strides in diplomatic relations in the last 30 years.

Their leaders had held regular meetings and discussions to strengthen bilateral ties.

Last year bilateral trade had topped US$4.4 billion, making Brazil Viet Nam’s 21st largest partner.

To expand and diversify trade and capitalise on the huge potential, the two sides could open up to new products.

Brazil’s agricultural sector was highly competitive and seeking new markets.

The country could also supplying products to the aviation and defence industries.

Deputy Foreign Minister Bui Thanh Son said bilateral ties dated back to a long time before the two countries officially established diplomatic ties in 1989, and their relations had been developing consistently.

Trade had surged 58-fold since 2004 to $4.4 billion last year, making Brazil Viet Nam’s top trade partner in Latin America.

The two countries’ businesses actively sought and grasped investment and market expansion opportunities in areas in which both were strong like agriculture, aquaculture, manufacturing, and bio-energy.

Agriculture offered particular potential for co-operation and the countries’ products were complementary.

Viet Nam and Brazil had co-ordinated closely and supported each other at international organisations and multilateral forums. — VNS