The potential for bilateral trade between Vietnam and Brazil remains largely untapped, a Viet Nam Chamber of Commerce and Industry official has said.
Nguyen The Hung, deputy director of the chamber in HCM City, said Vietnamese exporters should seek more trade opportunities in Brazil, which has a population of 198 million.
Hung spoke yesterday in HCM City at a seminar on the promotion of agricultural trade between the two countries.
Despite the increase in bilateral trade in recent years, Vietnam could export more rubber and fishery products, which are in high demand in Brazil.
Bilateral trade rose from US$204 million in 2006 to $556.18 million last year, Hung said, adding that last year Vietnam exported products valued at $183 million to Brazil and imported $373.9 million worth of goods from the country.
Viet Nam’ s exports to Brazil include seafood, fruit and vegetables, textiles and garments, shoes and handicrafts.
Its imports from the country include wheat, milk and dairy products, eucalyptus wood, and materials for the garment and textile sector.
Eduardo Sampaio Marques from Brazil’s Ministry of Agriculture, Livestock and Food Supply said Brazil was the world’s largest supplier of sugar, coffee, orange juice, beef and poultry.
He said Brazilian companies would like to increase the amount of exported soybean meal, fruit, corn and dairy products to Vietnam.
Marques encouraged Vietnamese companies to make more business trips to seek investment and trade opportunities in the Brazilian market.
According to the Brazil-Vietnam Chamber of Commerce, it will support Vietnamese businesses to display their products at showrooms in Brazil.
Hung said his chamber planned to set up a delegation of Vietnamese businesses to travel to Brazil to seek partners.
Co-organised by the Vietnam Chamber of Commerce and Industry and the Ministry of Agriculture, Livestock and Food Supply of Brazil, the seminar was attended by a delegation of leading Brazilian companies operating in a variety of sectors, including meat, cheese and coffee.
The companies also plan to participate in the 5th International Food and Drinks, Hotel and Restaurant Exhibition in HCM City from October 1-3.