Prime Minister Pham Minh Chinh still wants trade with Brazil to top US$10 billion by 2025 and $15-20 billion by 2030. Last September, speaking with business executives during his official visit to the South American country, he said the trust and partnership between the two countries have been growing for almost 35 years since they established diplomatic relations and especially since 2007 when they formed a Comprehensive Partnership. They are now each other’s biggest trade partners in their respective regions, with bilateral trade being worth $6.78 billion last year. Though the figure has tripled in the last decade, Chinh said there is still much room to grow. Vietnam could import cotton, soybean and corn from Brazil, and Brazil could buy footwear, garment, agriculture produce, and electronics from Vietnam, he said. "Brazilian businesses can have peace of mind when partnering with Vietnamese businesses or investing in Vietnam.

Brazilian business representatives meet with Vietnam Prime Minister Pham Minh Chinh in Brazil on Sep. 24, 2023. Photo by Nhat Bac