- Vietnam and Brazil are promoting negotiations for a Free Trade Agreement (FTA) between Vietnam and MERCOSUR.
- The FTA aims to diversify export markets and supply sources for businesses in both regions.
- The agreement is expected to strengthen positions in the global supply chain amidst global economic fluctuations.
- Brazil supports the FTA proposal and will present it at the upcoming MERCOSUR meeting in early September 2025.
- The FTA is anticipated to open opportunities in sectors like agriculture, processed goods, and consumer products.
- Brazil is committed to collaborating with MERCOSUR members to initiate formal negotiations during its presidency in late 2025.
- Vietnam’s Minister of Industry and Trade emphasizes the economic benefits and sustainable trade commitment the FTA represents.
- Both countries plan to hold a meeting in early September to declare the start of negotiations.
- Brazil is Vietnam’s second-largest trade partner in the Americas and the largest in Latin America.
- In 2024, bilateral trade between Vietnam and Brazil reached nearly 8 billion USD, a 12.2 percent increase from 2023.
Source: baochinhphu.vn
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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