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VietNamNews

Trade with Brazil surges by 35% during first half

Update: July, 19/2012 - 10:59

HA NOI — Two-way trade between Viet Nam and Brazil topped U$876 million during the first half of this year, representing a significant increase of 35 per cent, according to the Brazil's Ministry of Development, Industry and Foreign Trade.

During the period, Viet Nam exported $369.6 million worth of goods to the Latin American country, including footwear, frozen fillet fish and printing machines, up 23.4 per cent year-on-year, while Brazil's imports from Viet Nam rose by 45 per cent, hitting $507 million, said the ministry.

Last year, trade turnover between the two countries exceeded $1 billion for the first time, surging 53.8 per cent against 2010.

Footwear cleared

After a nine month investigation, Brazil has concluded that Vietnamese footwear manufacturers are not evading anti-dumping duties, according to Viet Nam's Competition Management Department under the Ministry of Industry and Trade.

The department came to this conclusion after officials from Brazil's Department of Commercial Defence (DECOM) had investigated and interviewed two of Brazil's biggest importers, as well as 11 Indonesian and Vietnamese export companies, according to the Lao Dong (Labour) newspaper.

On October 4 last year, DECOM launched an investigation after the Brazilian Footwear Industries Association filed a complaint against Chinese footwear exports.

The complaint said Chinese footwear was entering Brazil via a third country, including Viet Nam and Indonesia, to evade anti-dumping tariffs levied on Chinese shoes.

Chinese footwear exports to Brazil have paid an average anti-dumping tax of $13.85 per pair of shoes since March 2010. — VNS

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