15:33 | 18/10/2016 Cooperation
(VEN) - Recently in Hanoi, Minister of Agriculture and Rural Development Nguyen Xuan Cuong has talked with Brazilian Minister of Agriculture, Livestock and Supply Blairo Maggi about development cooperation in agriculture between the two countries.
Discussing measures to increase bilateral agricultural cooperation
Major areas of cooperation
The two ministers indicated priority areas of cooperation and discussed measures to boost bilateral trade in agricultural, forest and aquatic products. Selected fieds for cooperation include sugarcane planting, maize and soybean production, animal feed processing, coffee, wood, agricultural machinery, technology, organic farming, and biopersity.
Minister Cuong said the Vietnamese animal husbandry sector needs about 20 million tonnes of feed annually. The sector is forecast to grow about 10 percent per year and needs to import 5-6 million tonnes of maize, millions of tonnes of soybeans, and other materials for animal feed production annually. It also has demand for a variety of imported machinery, equipment and technologies for animal feed production. Therefore, Vietnam is a potential export market for Brazil and other countries.
According to Minister Cuong, Vietnamese and Brazilian agricultural products can complement each other, so bilateral cooperation will serve the demands of not only 200 million Brazilian consumers and nearly 100 million Vietnamese people but also regional and global consumers.
Minister Blairo Maggi said Brazil has a sustainable agriculture and is one of the world’s leading agricultural product and seafood producers and exporters. Agricultural exports contributed nearly 50 percent to this country’s export value in the first three months of this year. “Brazil wishes to further promote trade in agricultural products with Vietnam and consider this the most important area of bilateral cooperation. My visit to Vietnam this time aims to boost bilateral cooperation in agriculture and food supply,” he added.
At a recent Vietnam-Brazil Business Forum themed ‘New prospects for trade and investment in agriculture’, Brazilian Ambassador to Vietnam Marco Brandao said trade between the two countries has grown continuously in recent times. Last year, bilateral trade reached US$3.9 billion, including US$1.8 billion worth of agricultural imports from Brazil. According to Marco Brandao, the potential of bilateral cooperation remains great, especially in agriculture - the sector where Brazil has many advantages.
According to Vietnam Chamber of Commerce and Industry Secretary General Pham Thi Thu Hang, Vietnamese and Brazilian imports and exports can complement each other and the potential of bilateral cooperation is great. Brazil is an important gateway to the South American market, while Vietnam is a member of the ASEAN Economic Community and a number of free trade agreements such as the Trans-Pacific Partnership, and the EU-Vietnam FTA. Therefore, businesses of the two sides will have a lot of opportunities to invest in each other’s markets.
Statistics from the General Department of Vietnam Customs show that bilateral trade between Vietnam and Brazil reached more than US$1.56 billion in the first half of 2016. Major Brazilian exports to Vietnam included agricultural products such as maize, soybeans, cotton, and wheat, while imports included textiles and garments, electronic products, computers, and telephones.