Addressing a Viet Nam-Brazil trade and investment forum with the participation of representatives of about 100 enterprises from both countries, Deputy Prime Minister Vuong Dinh Hue highlighted the potential for bilateral cooperation.

On Tuesday, the Deputy PM visited Sao Paulo, the largest financial and industrial hub of Brazil and one of the most important in the Americas, as part of his ongoing visit to Brazil.

Viet Nam had recorded a high growth rate over the past decade, and would be a gateway for Brazil to access ASEAN markets and free trade areas of which Viet Nam is a member, while Brazil could help Viet Nam penetrate the South American trade bloc (MECOSUR), he said.

Deputy PM Hue expressed his belief that ties between the two countries would thrive in the future through specific programmes. Viet Nam could become a top importer of Brazil’s maize and soybean, and would consider buying beef from the country, he said, suggesting that Brazil import more coffee, tra fish and shrimp from Viet Nam. He underscored that Viet Nam was willing to co-operate with Brazil in farming machine manufacturing, safe agricultural production, tourism, education and training, and pharmaceuticals.

Alencar Burti, President of the Sao Paulo Chamber of Commerce, said that the forum created a chance for Viet Nam to attract more investment from Sao Paulo, and foster partnership between the business communities of both sides.

Along with the agreements signed on aviation, agriculture and cooperation deals between the Chambers of Commerce and Industry of the two countries, Viet Nam and Brazil finalised agreements on defence, especially in the defence industry, while heading towards the signing of an investment protection agreement and another on double taxation avoidance.

Earlier the same day, at a meeting with Ambassador Rubens Barbosa, President of the Federation of Industries of Sao Paulo State (FIESP), Deputy PM Hue proposed that the FIESP strengthen cooperation with Viet Nam’s big cities such as HCM City, while engaging in the restructuring and acquisition of State-owned enterprises as well as the reform of banking system and the construction of agricultural processing plants in Viet Nam, thus deepening involvement in Viet Nam and ASEAN markets.

During his stay in Sao Paulo, Deputy PM Hue also held meetings with some leading enterprises and business associations of Brazil such as the Brazilian Association for Fisheries Promotion (ABRAPES), the Brazilian Association of Fisheries Industries (ABIPESCA), aerospace companies Embraer and Avibras and Eurofarma medical company. — VNS