Two-way trade between Vietnam and Brazil is well on track to reach US$2 billion by the year’s end, according to the Vietnam Trade Office in Brazil.
During the first half of this year, bilateral trade hit US$970 million with US$500 million coming from Vietnamese exports, fulfilling its target set for the whole year.
The impressive export turnover has revealed the great efforts made by Vietnamese enterprises to penetrate and exploit business opportunities in the market.
Bilateral trade is expected to reach US$5 billion by 2018 and US$8 billion by 2020, creating foundation for the two countries to successfully improve their economic, trade and investment climates and boost the confidence of investors.
The Trade Office suggested domestic firms better utilise opportunities in Brazil – a huge market with strong purchasing power and an increasing demand for imported goods.
Currently, the market share of Vietnamese exports accounts for only 0.3% of import demand in Brazil.
Alongside seafood, footwear, electronic parts, textiles and garments, Brazil also has a strong demand for cosmetics and medicine.
The country is also seeking foreign investment in sectors such as seaports, ship building, oil and gas and bio-fuels.
Brazil opened a consulate earlier this year in Ho Chi Minh City to support businesses in seeking partners.
Đăng ký: VietNam News
