Brazil strengthens trade partnership with Vietnam

Vietnam

Minister Tereza Cristina meets with Minister of Agriculture and Rural Development of Vietnam, Xuan Cuong, in Hanoi. Photo: Flickr Map

This year marks the 30 years of diplomatic relations between Brazil and Vietnam. Coincidently, in this remarkable year, a group of private and public sector leaders representing Brazilian agriculture are visiting Vietnam, with the main goal of reinforcing bilateral trade.

The group followed the Brazilian Minister of Agriculture, Tereza Cristina, on a series of meetings with key playing in the food and beverage markets. According to Ligia Dutra, head of International Relations at the Brazilian Confederation of Agriculture and Livestock, and a member of the delegation, “the meetings were very good and everything indicates that we will open important markets for our products”.

“Vietnam is an important trading partner for Brazil. […] With a population of 100 million people, which is growing 7% a year, needs more and more quality products, mainly Brazilian meat. It is one of the main markets that we want to reach more effectively”, said Minister Tereza Cristina.

In 2018, agribusiness accounted for 87% of Brazilian exports to Vietnam, totaling US$ 1.68 billion. The main products imported by the Vietnamese are corn, soybean meal, cotton, soybeans, tobacco, wood, dried beans, cellulose and leather. The country is the third largest importer of Brazilian corn, behind only Iran (1st) and European Union (2nd).

On the other hand, Brazil buys fish from Vietnam, such as pangasius, hake (merluza) and polish (polaca), as well as natural rubber, cinnamon and coconut.

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