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Vietnam - Brazil: Commercial cooperation has achieved positive results PDF Print
Wednesday, 11 October 2017 17:32

VIETRADE - Brazil is one of the largest and potential trade partners of Vietnam in Latin America. Trade cooperation between the two countries has been very dynamic and achieved significant outcomes over the first 6 months of this year.


Maintaining the trade surplus

The two-way trade exchange between Vietnam and Brazil increased significantly in the first 6 months of 2017, after a decline in 2016 due to the difficult economic situation in Brazil. Notably, thanks to a considerable increase in exports, Vietnam has maintained the trade surplus with the Brazilian market during the first half of this year.


According to the Vietnam Trade Office in Brazil, in the first 6 months of 2017, the two-way trade turnover between Vietnam and Brazil reached about US$ 1.73 billion, an increase of approximately 16% over the same period last year. The export turnover of Vietnam to Brazil was estimated at more than US$ 1.06 billion, a year-on-year increase of 46%. Vietnam also imported from Brazil with the import value worth of US$ 665 million, a decrease of 13% compared to the same period last year. Thus, in the first 6 months of this year, Vietnam had a trade surplus of about US$ 400 million to Brazil.


The Vietnam Trade Office in Brazil said that most of the Vietnamese main exports to Brazil witnessed a sharp increase in the first 5 months of this year, of which the exports of telephones and electronic devices rose by 57%; aquatic products by 43%; rubber and rubber products by 73% compared with the same period of 2016. In particular, the exports of synthetic fibers from Vietnam to Brazil increased remarkably by more than 300%. In addition, garment and textile products, iron/steel products, plastics and foodstuffs also had higher year-on-year export turnovers.


According to economic experts, Brazil is one of Vietnam's largest market in Latin America. However, in recent years, the political instability in Brazil has strongly influenced the demand for imported goods and trade activities between this country and others, including Vietnam. That the export turnover of Vietnam to Brazil increased in recent time is a very positive result.


There is much potential for cooperation

According to economic experts, the Brazilian market has great potential for businesses in Vietnam. Although Vietnam and Brazil have many similarities, the goods of the two countries do not directly compete but complement each other. These are favourable conditions for Vietnamese enterprises to increase exports of appropriate products to Brazil.


Commenting on the trade relations between the two countries in the coming time, Vietnam Trade Office in Brazil said that in the context where the Brazilian economy is showing signs of recovery after a long recession, many businesses of this country are increasingly seeking goods supply to meet its domestic demand. This is a precious opportunity for Vietnamese businesses to boost exports from Vietnam to this potential market.


Brazilian enterprises also confirmed that there is much great potential in bilateral trade cooperation between Vietnam and Brazil.


Speaking at the trade conference between Vietnam and the southern region of Brazil, recently held by the Vietnam Trade Office in Brazil in cooperation with the Commerce Chamber of São Paulo City , Mr. Edson N. Oliveira representing the São Paulo Supermarkets Association said that Brazilian consumers have very diverse demands for goods. Therefore, supermarkets always look for supply of high quality goods for import to serve the consumers. Moreover, members of the Supermarkets Association also have a great need to find partners who can provide equipment for displaying products in supermarkets and equipment for shopping that Brazil has not been able to produce or been able to produce but the price is not competitive.


Therefore, Mr. Edson N. Oliveira desired to introduce Vietnamese businesses that have reputations in manufacturing and supplying the above-mentioned equipment to members of the Supermarkets Association. At the same time, he also requested the Vietnam Trade Office in Brazil to be a bridge for Vietnamese exporters to boost the consumption of made-in-Vietnam products in supermarkets systems represented by the Supermarkets Association.


As for the cooperation in the coffee sector, Mr. Roberto Ticulat, Vice President of the Trade Association of São Paulo State (Brazil) said that the coffee industry of the two countries has great advantages for cooperation and complements each other. Therefore, he has pledged to quickly seek Vietnamese partners to develop trade in the coffee industry. At the same time, he has also suggested that the Vietnam Trade Office in Brazil should be a bridge for reaching this objective.


Be cautious about barriers

Although Brazil has great potential and opportunities for exports, this market also has many challenges, requiring Vietnamese enterprises to pay attention to product quality and keep updated with market movements to respond appropriately to the trade barriers.


The Vietnam Trade Office in Brazil said that the Brazilian market tends to increasingly apply trade defence measures and technical barriers to protect domestic manufacturers.


In response to this situation, dealing with trade barriers and promoting exports to Brazil, the Vietnam Trade Office in Brazil has recommended that Vietnamese businesses need to work closely with Brazilian importers to handle complaints of the related industry associations in this country to prevent lawsuits on trade defence.


Furthermore, in order to increase exports to Brazil, Vietnamese enterprises should actively participate in international trade fairs and shows, especially those in the economic centre of São Paulo, and approach the systems of import-export distribution centres in this country.

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