Forum seeks increased Vietnam-Brazil agricultural trade and investment

08:38 | 19/09/2016 Cooperation Follow Ven.vn on

A business forum highlighting new prospects for trade and investment in agriculture between Vietnam and Brazil was held in Hanoi on September 16.

VCCI General Secretary Pham Thi Thu Hang speaks at the event (Photo: VNA)

The event was held jointly by the Vietnam Chamber of Commerce and Industry (VCCI) in co-ordination with the Brazilian Embassy in Vietnam on the occasion of the visit to Vietnam made by a delegation of the Brazilian Ministry of Agriculture, Livestock and Food Supply.

Speaking at the event, Brazilian Ambassador to Vietnam Marco Antonio Diniz Brandao spoke highly of the encouraging outcomes witnessed in the enhanced co-operation between Vietnam and Brazil in various fields over recent years.

The Ambassador described the business forum as a good opportunity to strengthen and further promote multifaceted co-operation between the two countries, especially in trade, investment and agricultural development.

VCCI General Secretary Pham Thi Thu Hang highlighted recent fruitful outcomes in the bilateral ties. Vietnam’s bilateral trade with Brazil reached US$3.9 billion in 2015. Of the figure, Vietnam earned US$1.14 billion from exports to Brazil, representing a rise of 9.7% over the same period last year.

Most export products of Vietnam to Brazil posted good growth in the past year such as phones and components, computers and spare parts, machinery and equipment, and garment and textile products. Meanwhile, Vietnam mainly imported corn, animal feed and raw materials for garment and textile production from Brazil. Brazil currently has two investment projects in Vietnam and Vietnam has one investment project in Brazil.

It was both necessary and helpful to make exchanges and learn of the experiences of Brazil, especially as the Government is planning to develop agriculture in a comprehensive, effective and sustainable manner towards industrialisation and modernisation, Hang added.

According to the Brazilian Minister of Agriculture, Livestock and Food Supply Blairo Maggi, agriculture is accounting for over 46% of the country's total export value and for 21.5% of the country’s GDP.

The Minister also emphasised that the Brazilian government is creating favourable conditions for investment in the agricultural sector towards sustainable development, high quality, and practical application of advanced technologies, which will open up many opportunities and good prospects for co-operation between Vietnam and Brazil./.

Source: NDO

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