Prime Minister Pham Minh Chinh attended Vietnam-Brazil Business Forum held on July 5 (local time) in Rio de Janeiro.

The forum was organized as part of the Vietnamese Prime Minister’s trip to Brazil to attend the 17th BRICS Summit hosted by the country.

Around 50 businesses from Vietnam and 30 enterprises from Brazil participated in the forum which was seen as a bridge for the business communities and promotes economic, trade, and investment cooperation between the two countries.

Brazil is Vietnam's largest trading partner in the Latin American region and the second largest in the Americas. In 2024, two-way  trade reached nearly $8 billion, an increase of 12.2 per cent compared to 2023, accounting for over 34 per cent of Vietnam's total trade with Latin America.

In the first five months of 2025, the trade value between the two countries amounted to $3.33 billion. Both countries have reaffirmed their commitment to raising trade value to $15 billion by 2030.

The Vietnamese Prime Minister was quoted by the Government News as saying at the forum that Brazil and Vietnam hold important positions and roles in South America and Southeast Asia respectively. He expressed his hope that the two nations will continue to serve as bridges between the two dynamic and developing regions.

He called on businesses from both sides to focus on three key areas including agriculture; science-technology, innovation, digital transformation, telecommunications; and mineral exploitation and processing.

Prime Minister Pham Minh Chinh noted that Brazil exported its first shipment of beef to Vietnam, while the Southeast Asian nation shipped pangasius, basa, and tilapia to Brazil.

Brazilian side affirmed its willingness to increase imports of Vietnamese seafood and rice. The two sides vowed to sign an agreement to ensure stable and long-term food security for Brazil, under which Vietnam will export rice to help stabilize Brazil's food supply.

Both sides also pledged to conclude the free trade agreement (FTA) negotiations between Vietnam and the Southern Common Market (MERCOSUR) in the second half of 2025, and promote a bilateral FTA between Vietnam and Brazil, thereby supporting each other amid current global challenges.

The two countries will work to improve the legal framework for cooperation in investment and labor, facilitate visa procedures, and expand direct flight routes to further strengthen business collaboration.

The Prime Minister urged both sides' businesses to carry out economic measures, enhance business linkages, and deepen economic integration, affirming that the Vietnamese Government is committed to creating all favorable conditions for Brazilian investors.

The Prime Minister witnessed the signing of several cooperation agreements, including a seafood cooperation agreement between Nam Viet Corporation (NAVICO) and AV09 Comercio Exporter Ltd; an investment cooperation agreement worth $200 million between Trong Khoi One Member Limited Liability Company and Brazil's Fujikura Quail Genetics in the field of quail farming; and a three-year contract between Ho Chi Minh City Football Club and Gremio Football Club for the training of young football players.