Vietnam-Brazil trade up 16%

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• Vietnam-Brazil trade

Two-way trade between Vietnam and Brazil hit about US$1.73 billion in the last two quarters, representing a year-on-year increase of 16%, according to the Vietnam Commercial Affairs Office in Brazil.

The Latin American country’s export to Vietnam was estimated at US$665 million, down 13% against the same period last year.

Meanwhile, Vietnam shipped goods worth US$1.065 billion to Brazil, an increase of 46%.

The export of Vietnam’s staples to Brazil in the first five months of this year increased strongly again, especially synthetic fabric (over 300%), rubber and products from rubber (73%), telephones and electronic equipment (over 57%) and aquatic products (43%).

The Vietnam Commercial Affairs Office suggested Vietnamese exporters coordinate closely with Brazilian importers in handling complaints of relevant trade associations in Brazil, aiming to avoid lawsuits related to trade protection.

Experts said Brazil is one of the most important markets of Vietnam in Latin America. However, trade between the two nations declined in recent time due to the ongoing unstable politics in the Latin American nation.

Source: VNA