Business · Vietnam Bureau
Vietnam urges Brazilian business support for Mercosur trade agreement
Vietnam's top diplomat in Brazil has appealed to the country's business community to back ongoing negotiations for a preferential trade agreement between Hanoi and the Mercosur trade bloc, as the two nations deepen economic ties.
LSN Vietnam ·
Vietnamese Ambassador to Brazil Bui Van Nghi has called on Brazilian businesses to actively support negotiations for a Preferential Trade Agreement (PTA) with the Southern Common Market (Mercosur), signaling Vietnam's push to strengthen commercial links with South America's largest economy.
The appeal reflects Vietnam's broader strategy to expand its trade footprint in the region, particularly as bilateral commerce between the two countries has shown significant momentum. Brazil has emerged as a major importer of Vietnamese agricultural products, with purchases of Vietnamese tilapia alone reaching nearly $35 million in recent years—a 289-fold surge from earlier periods.
Vietnam and Brazil are also pursuing enhanced cooperation across multiple sectors, including digital transformation initiatives aimed at modernizing both economies. The proposed preferential trade agreement is expected to facilitate smoother market access and lower tariffs for Vietnamese goods entering the Mercosur bloc.
Official discussions have focused on identifying ways to further promote bilateral trade and investment cooperation, with both countries recognizing the potential for expanded economic engagement. Vietnamese policymakers view Brazilian business support as crucial to advancing the PTA negotiations and ensuring favorable terms for Vietnamese exporters and investors seeking market opportunities in the region.