Brazilian President Lula da Silva and Prime Minister Phạm Minh Chính at the Việt Nam-Brazil Economic Forum in Hà Nội on Saturday. — VNA/VNS Photos Dương Giang

HÀ NỘI — Prime Minister Phạm Minh Chính and Brazilian President Lula da Silva attended the Việt Nam-Brazil Economic Forum in Hà Nội on Saturday as part of the latter’s State visit to Việt Nam.

Deputy Prime Minister and Minister of Foreign Affairs Bùi Thanh Sơn was also in attendance, along with leaders of ministries, agencies, and business representatives from Việt Nam and Brazil.

The senior leaders discussed collaboration opportunities between the two countries, stressing that although bilateral trade reached nearly US$8 billion in 2024, this figure did not reflect the full potential of their political and diplomatic relations.

It should keep growing, especially since the relations between the two countries were elevated to a Strategic Partnership in November 2024, they said.

The delegates also discussed the possibility of starting negotiations for a preferential trade agreement between Việt Nam and the Southern Common Market (Mercosur).

In his speech at the forum, President Lula da Silva emphasised that his visit to Việt Nam was not only as the President of Brazil but also as a close friend of Việt Nam. He expressed his joy at seeing Việt Nam's remarkable development between his two visits, saying Việt Nam is a model for many countries.

The Brazilian President said that despite the geographical distance, the two countries share several similarities.

“Both countries have rich, diverse cultures, a love of sports – particularly football – and are among the world's largest producers and exporters of coffee,” he said.

Brazilian President Lula da Silva speaks at the forum.

The two nations are large markets for each other, with 100 million people in Việt Nam and 196 million in Brazil, he added.

However, the two sides need to continue taking advantage of the trade agreements and other frameworks they are part of to increase bilateral trade value to $15 billion by 2030 and $20 billion in the future, he said.

Thanking PM Chính for approving beef imports from Brazil into Việt Nam, President Lula da Silva said that Brazil would invest in beef processing plants in Việt Nam, and consider Việt Nam a gateway to the ASEAN market.

“In return, Brazil is ready to serve as a gateway for Vietnamese goods into the Mercosur bloc,” he said.

For his part, PM Chính stressed that Việt Nam unwaveringly supports an independent, strong, and growing Brazil with an increasingly important role in the region and the world, as well as happier, more prosperous Brazilian people.

Prime Minister Phạm Minh Chính speaks at the forum.

During this visit by President Lula da Silva, the two sides signed an action plan to strengthen their partnership, agreed to upgrade the Joint Government Committee, and pledged to continue promoting high-level visits to further develop political, diplomatic, and economic relations, according to the PM.

Both sides also agreed to promote more balanced trade, with Brazil opening its market to Vietnamese products such as tra and basa fish and shrimp, while enhancing imports of flagship products from Việt Nam such as electronics and agricultural products.

Chính said Việt Nam stands ready to ensure food security for Brazil with the growing of one million hectares of high-quality, low-emission rice in the Mekong Delta, and is also willing to participate in Brazil's initiatives for global peace, stability, cooperation, and development, especially initiatives to fight poverty.

He urged Brazilian investors to help Vietnamese businesses to integrate more into global supply chains and gain access to green and sustainable financial sources, as well as invest in technology and innovation projects in Việt Nam and in the financial centres that are being formed in HCM City and Đà Nẵng.

He also requested the Brazilian Government to support and expedite the negotiation of a free trade agreement between Việt Nam and Mercosur, and create a more favourable legal framework for bilateral business and trade activities.

“This can be done through signing key cooperation documents such as investment protection, labour, education and training agreements, and providing visa exemptions for Vietnamese citizens,” he said. — BIZHUB.VN/VNS