Promoting Vietnam – MERCOSUR FTA negotiations, opening the door to the Latin American market

(Chinhphu.vn) - Minister of Industry and Trade Nguyen Hong Dien highly appreciated Brazil's support for the proposal to negotiate the Vietnam - MERCOSUR FTA; emphasizing that in the context of many fluctuations in the global economy, the FTA between Vietnam and MERCOSUR will create conditions for businesses on both sides to diversify export markets and supply sources, consolidating their position in the global supply chain.

Minister of Industry and Trade Nguyen Hong Dien had a phone call with Brazilian Foreign Minister Mauro Vieira

In order to promote negotiations on the Vietnam - MERCOSUR (Southern Common Market) free trade agreement (FTA), on the evening of August 27, Minister of Industry and Trade Nguyen Hong Dien had a phone call with Brazilian Foreign Minister Mauro Vieira.

The phone call also aimed to concretize the exchange between the two countries' senior leaders during President Lula da Silva's State visit to Vietnam in March 2025 and Prime Minister Pham Minh Chinh 's working trip to attend the expanded BRICS Summit in Rio de Janeiro and bilateral work with Brazil in early July 2025.

During the phone call, Brazilian Foreign Minister Mauro Vieira announced that he would propose FTA negotiations with Vietnam at the next MERCOSUR meeting in early September 2025. Minister Mauro Vieira also highly appreciated the potential for cooperation with Vietnam and said that the signing of the FTA will open up many opportunities for businesses of both sides, especially in areas where the two countries have strengths such as agricultural products, processing industry and consumer goods. Brazil pledged to support and coordinate with MERCOSUR member countries to promote the internal process towards launching official negotiations during Brazil's rotating MERCOSUR presidency in the second half of 2025.

Minister of Industry and Trade Nguyen Hong Dien highly appreciated Brazil's support for the proposal to negotiate a Vietnam - MERCOSUR FTA. The Minister emphasized that, in the context of many fluctuations in the global economy, the FTA between Vietnam and MERCOSUR will create conditions for businesses on both sides to diversify export markets and supply sources, consolidating their positions in the global supply chain.

In particular, the signing of the Vietnam - MERCOSUR FTA not only brings specific economic benefits to the parties, but also demonstrates the trust and commitment to promoting sustainable trade between the regions.

Minister Nguyen Hong Dien proposed that the two sides soon hold the first meeting in early September with the goal of declaring the start of negotiations and organizing the first round of negotiations as soon as possible.

At the end of the phone call, the two sides agreed to soon hold a meeting to further discuss the roadmap for launching FTA negotiations and technical coordination mechanisms related to promoting the development of bilateral economic and trade relations.

Brazil is currently Vietnam's second largest trading partner in the Americas (after the United States) and Vietnam's first largest trading partner in Latin America.

According to statistics from the Ministry of Industry and Trade, in 2024, the total two-way trade turnover between Vietnam and Brazil reached a record of nearly 8 billion USD, an increase of 12.2% compared to 2023. Of which, Vietnam exported 2.6 billion USD to Brazil, and imported 5.4 billion USD from Brazil. In the first 7 months of 2025 alone, bilateral trade reached approximately 4.45 billion USD, down 3% compared to the same period in 2024; of which, Vietnam's export turnover to Brazil reached 1.53 billion USD, an increase of 0.3%. In the opposite direction, imports from Brazil reached 2.92 billion USD, down 4.7%.

Vietnam's main export items to Brazil are phones of all kinds and components, computers, electronic products and components, machinery, equipment, other spare parts, means of transport and spare parts, iron and steel of all kinds, footwear of all kinds, textile fibers and yarns of all kinds, seafood, etc.

Vietnam imports from Brazil items including ores and other minerals, cotton of all kinds, animal feed and raw materials, soybeans, corn, wood and wood products, textile, garment, leather, footwear materials, etc.

Anh Tho

Source: https://baochinhphu.vn/thuc-day-dam-phan-fta-viet-nam-mercosur-mo-rong-canh-cua-thi-truong-my-latin-102250828121432718.htm