Brazil and Vietnam Exchange Favors

During his visit to São Paulo, the president of Vietnam, Tran Duc Luong, declared that his country is favorable to UN reforms and the expansion of the Security Council.

“Brazil is a big Latin American country. When a formal request for our support is made we will examine it very favorably,” said Duc Luong during a press conference.


At the moment, Brazil and Vietnam are discussing the entrance of Vietnam into the World Trade Organization, which Brazil is expected to support.


Trade Relations


Commercial expansion was the main topic at a Brazil-Vietnam Forum in São Paulo yesterday sponsored by the National Industrial Confederation (CNI), the Vietnamese Chamber of Commerce and Industry and the Ministry of Foreign Relations.


“Bilateral trade is small when you take into consideration the potential. This forum will not only expand, but diversify our commerce with Vietnam,” declared José Frederico ílvares of the CNI.


According to ílvares, Vietnam is another emerging Asian country with high levels of growth where there are many business opportunities.


“They have been growing at an average of 7.5% annually and have made an enormous effort to be competitive in foreign trade,” he said.


Mercosur could benefit from this growing market, especially in construction, telecommunications, footwear and information technology.


And there is the fact that Mercosur attracts investments not only to member nations, but to Brazil and all of Latin America, explained ílvares.


The recent visits by the Chinese, South Koreans and now the Vietnamese, show that commercial possibilities in that region are being taken seriously, said ílvares.


In a globalized market there are various levels of activities, which means that from the corportate boardroom to new markets to regional markets, all are important in terms of investments and cooperation, concluded Alvares.


Agência Brasil
Translator: Allen Bennett

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