AsemconnectVietnam - On the evening of July 29, 2025, Vietnamese Deputy Minister of Industry and Trade Phan Thi Thang held a phone call with Brazil's Executive Secretary of the Ministry of Development, Industry, Trade and Services, Mr. Marcio Elias Sosa, to promote economic and trade cooperation between the two countries.

The two sides agreed to continue working together to open their markets to potential products such as shrimp and rice from Vietnam, and beef and pork from Brazil. Previously, Vietnam had approved the import of Brazilian beef, while Brazil had opened its market to Vietnamese pangasius and basa fish.

Notably, both Deputy Ministers highly appreciated the potential for establishing a Free Trade Agreement (FTA) between Vietnam and the MERCOSUR bloc, of which Brazil holds the rotating presidency in the second half of 2025. Vietnam proposed that Brazil promote internal discussions to initiate the FTA negotiation process and affirmed its readiness to closely cooperate in completing the technical procedures.

Brazil welcomed Vietnam as a dynamic economy and an active participant in several major FTAs, viewing this as an opportunity for Brazil to access ASEAN and broader Asian markets. Both sides also committed to holding an in-person meeting soon to further discuss the FTA roadmap and bilateral technical cooperation mechanisms.

Currently, Vietnam is Brazil’s largest trading partner in ASEAN, while Brazil is Vietnam’s top partner in South America.

Source: Vasep