Overview of the Vietnam Trade Office in Brazil

The Vietnamese Trade Office in Brazil functions to represent and protect the interests of Vietnam, Vietnamese businesses, and Vietnamese people in economic , trade, and industrial relations.

The goal is to achieve a bilateral trade turnover of US$15 billion by 2030.

Brazil is one of Vietnam's leading partners in the Latin American region. In 1989, the two countries officially established diplomatic relations, and in 2007, they upgraded their relationship to a Comprehensive Partnership, aiming to effectively implement bilateral cooperation. Over the past 35 years, relations between Vietnam and Brazil have developed positively in all fields, becoming deeper and more substantive; political relations have become increasingly close and trustworthy; and economic and trade relations have grown and achieved many positive results.

Currently, Brazil is Vietnam's largest trading partner in Latin America and the second largest in the Americas, after the United States. Conversely, Vietnam is Brazil's leading partner within the Association of Southeast Asian Nations (ASEAN). Economic and trade cooperation is becoming the foundation for a long-term relationship between the two countries.

On November 6, 2024, at the Ministry of Industry and Trade , Minister Nguyen Hong Dien met and worked with the Brazilian Ambassador to Vietnam, Marco Farani, to discuss bilateral economic and trade relations, particularly the promotion of negotiations for a Vietnam-MERCOSUR Free Trade Agreement (FTA).

In recent years, trade turnover between Vietnam and Brazil has witnessed strong growth, reflecting the deep and diverse trade partnership between the two countries. Vietnam and Brazil are promoting negotiations for a Free Trade Agreement (FTA) with the Southern Common Market (Mercosur - comprising Brazil, Argentina, Uruguay, and Paraguay) with the aim of using this FTA as a driving force to exploit export markets in the Latin American region.

Bilateral trade between Vietnam and Brazil has grown rapidly, from US$1.53 billion in 2011 to US$6.78 billion in 2022; over US$7.1 billion in 2023; and reaching US$6.58 billion in the first 10 months of 2024. The two countries aim to increase bilateral trade to US$10 billion in 2025 and US$15 billion in 2030. Vietnam is always ready to create favorable conditions for Brazilian businesses in the fields of agriculture, high technology, renewable energy, and logistics.

These impressive results are largely due to the significant contributions of Vietnamese representative agencies abroad, including the Vietnamese Trade Office in Brazil.

Contributions from trade offices

According to Decision No. 4376/QD-BCT dated August 8, 2008, of the Ministry of Industry and Trade, trade offices in countries, territories, and international organizations (trade offices), including the Vietnamese Trade Office in Brazil, are specialized agencies under the Ministry of Industry and Trade and are part of the organizational structure of the representative offices of the Socialist Republic of Vietnam abroad.

The Vietnamese Trade Office in Brazil is responsible for representing and protecting the interests of Vietnam, Vietnamese businesses, and individuals in economic, trade, industrial, and investment development, as well as commercial services in the Brazilian market ; and supporting Vietnam's trade promotion activities in this market.

In addition, the Vietnam Trade Office in Brazil is also tasked with coordinating with units inside and outside the Ministry of Industry and Trade to participate in activities related to negotiating and signing economic, trade, and industrial agreements; serving high-level Vietnamese delegations visiting Brazil; and carrying out other tasks related to international and regional economic integration as assigned by the Ministry's leadership. Simultaneously, it collects information, researches local market mechanisms and policies; and promotes trade, services, and industrial investment.

Over the years, to promote trade cooperation between Vietnam and Brazil, the Vietnamese Trade Office in Brazil has chaired and coordinated with domestic and foreign agencies to organize business forums, trade and investment seminars, Vietnam Day abroad, Vietnam Shopping Day, and participated in promoting Vietnamese goods on mass media and in supermarket chains in the host country...

Vietnam and Brazil are striving to increase bilateral trade to US$10 billion by 2025 and US$15 billion by 2030. Photo: Huynh Duong

Notably, the Vietnamese Trade Office in Brazil is currently working diligently with relevant agencies to promote negotiations on the Vietnam-MERCOSUR Free Trade Agreement (FTA), with the expectation that the agreement will create a breakthrough in trade relations, helping to boost the exchange of goods and investment between Vietnam and Brazil in particular, and with other countries in the bloc in general.

Mr. Ngo Xuan Ty, Head of the Vietnamese Trade Office in Brazil, noted that Brazil is currently a member of the Southern Common Market (MERCOSUR). With nearly 300 million consumers, accounting for approximately 70% of the South American population, MERCOSUR is a very promising market for Vietnamese exports such as textiles, footwear, handicrafts, and processed foods.

Through the FTA between Vietnam and Mercosur, Brazil can become a bridge helping Vietnam access the markets of Latin American countries as well as Mercosur. Meanwhile, Vietnam will become a bridge helping Brazil access the vast ASEAN market with over 650 million people and an even larger market of 800 million people under the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP).

When the Vietnam-MERCOSUR FTA is signed, it will bring many opportunities and benefits to Vietnam, from expanding export markets, attracting investment to strengthening cooperation in many different fields. This will not only contribute to Vietnam's economic development but also enhance Vietnam's position in the context of increasingly deep international integration.

In addition to its professional duties, the Vietnam Trade Office in Brazil proactively coordinates with media agencies within the Ministry of Industry and Trade, including the Industry and Trade Newspaper and other Vietnamese media outlets based abroad, to provide market information, promptly update on changes in host country policies, and advise relevant departments, divisions, and leaders of the Ministry of Industry and Trade as well as the Vietnamese Government on timely policy responses and protecting the production and business activities of the business community.

Information about the Vietnamese Trade Office in Brazil (also covering Bolivia, Guyana, Peru, and Suriname):

Contact person: First Secretary, Head of Trade Affairs Ngo Xuan Ty

Phone: 84937357008

Email: [email protected]; [email protected]

Address: Rua Paulo Orozimbo, 675-Conj. 91;92 CEP: 015-35001- Bairro da Aclimação; São Paulo - SP - Brasil

Phone: (+55) 11 32766776

Fax: (+55)11 2537 8040

Email:[email protected]; [email protected]

Website: http://www.ecoviet.com.br

Source: https://congthuong.vn/tong-quan-ve-thuong-vu-viet-nam-tai-brazil-366963.html