Vietnam, Brazil to begin discussing Mercosur trade agreement

THE HANOI TIMES — Vietnam and Brazil may soon begin negotiations on a preferential trade agreement between Vietnam and the South American trade bloc Mercosur, a meeting between President Luong Cuong and Brazilian President Luiz Inácio Lula da Silva heard on March 28.

The two leaders welcomed the strong growth of bilateral ties, particularly the decision to upgrade relations to a Strategic Partnership in November 2024. This milestone marks 35 years of diplomatic relations and reflects their shared vision for future ties.

Recognizing the vast potential for cooperation, both presidents agreed to focus on key areas such as defense, security, science and technology, digital transformation, innovation, clean energy, education, culture, sports, and people-to-people exchanges.

They also encouraged sectoral cooperation programs and the negotiation of legal agreements to support the Strategic Partnership.

Both sides emphasized the importance of implementing an Action Plan to advance the Strategic Partnership and agreed to maintain high-level visits and engagements.

Statistics show that bilateral trade between Vietnam and Brazil hit nearly US$8 billion in 2024. Brazil is Vietnam's largest trading partner in Latin America, while Vietnam is Brazil's top partner in ASEAN.

Both leaders recognized the complementary nature of their economies and pledged to increase trade to $15 billion by 2030.

During the meeting, President Lula da Silva announced that Brazil has decided to recognize Vietnam as a market economy, joining some 70 other nations.

Expressing his pleasure to return to Vietnam after 17 years, the Brazilian president admired the country's history and congratulated its people for their remarkable achievements in economic reform and global integration.

President Lula da Silva said that Brazil is committed to strengthening its Strategic Partnership with Vietnam, in line with Brazil's broader strategy to deepen ties with ASEAN and the Asia-Pacific region.

He cited football as a unifying passion between the two countries and cheered Vietnam's triumph in the Southeast Asian Championship.

He made special mention of Rafaelson, a Brazilian-born player who became a Vietnamese citizen under the name Nguyen Xuan Son, saying the player's success as a cup winner and top scorer of the championship was proof of the potential of Vietnam-Brazil cooperation.

President Luong Cuong warmly welcomed President Lula da Silva as a long-time friend of Vietnam.

The visit, which comes after Vietnamese Prime Minister Pham Minh Chinh's visit to Brazil for the 18th G20 Summit in November 2024, underscores the close and trusting ties between the two countries.

President Luong Cuong thanked President Lula da Silva and the Brazilian people for their historic support to Vietnam during its struggle for independence and its ongoing development.

He also expressed his appreciation for Brazil's recognition of Vietnam's market economy status as a step towards deeper economic cooperation and achieving the goal of $15 billion in trade by 2030.

At the end of their talks, President Lula da Silva invited President Luong Cuong to visit Brazil in the near future, which President Luong Cuong accepted.

Strengthening parliamentary cooperation

Vietnam's National Assembly strongly supports the establishment and deepening of the Vietnam-Brazil strategic partnership to promote cooperation in various fields for the mutual benefit of the two nations, Vietnam's top legislator Tran Thanh Man said on March 28.

Vietnam values its ties with Brazil, the only Latin American country with which it has established a Strategic Partnership, he told the meeting with Brazilian President Luiz Inácio Lula da Silva.

Vietnam wants to strengthen inter-parliamentary cooperation with Brazil to support broader bilateral relations and collaborate on multilateral parliamentary platforms.

Vietnam’s National Assembly is committed to approving and implementing agreements in key sectors such as defense, agriculture, finance, telecommunications, education, healthcare, aviation, semiconductors, and digital transformation, Man said.

Chairman Tran Thanh Man also welcomed recent cooperation agreements in politics, trade, security and sports, as well as Brazil's recognition of Vietnam's market economy status.

President Lula da Silva expressed confidence in Vietnam's continued development and international influence, and praised the National Assembly's role in shaping policies that drive national progress.

He noted the growing parliamentary ties between the two countries, including reciprocal visits and the establishment of bilateral friendship groups.

He encouraged both nations to continue working together on global issues such as climate change, poverty reduction and multilateral cooperation, and underscored the importance of legislative engagement in fostering stronger bilateral relations.

Chairman Tran Thanh Man and President Lula da Silva agreed to increase high-level parliamentary exchanges, foster closer ties between legislative bodies, and facilitate knowledge sharing in lawmaking and governance.

Chairman Tran Thanh Man extended an invitation to the President of the Senate of Brazil, Davi Samuel Alcolumbre, and the Speaker of the Chamber of Deputies, Hugo Motta, to visit Vietnam in the near future.

Vietnam, Brazil sign key agreements During their meeting, President Luong Cuong and his Brazilian counterpart, Luiz Inácio Lula da Silva, witnessed the signing of a number of agreements, as follows: The Action Plan for Implementing the Strategic Partnership An Agreement on the Employment of Family Members of Diplomats A Government-to-Government Information-Sharing and Confidentiality Agreement A Memorandum of Understanding on Trade and Industry Cooperation between the Vietnamese Ministry of Industry and Trade and the Brazilian Ministry of Industry, Trade, and Services A Memorandum of Understanding on Football Cooperation between the Vietnam Football Federation and the Brazilian Football Confederation.