According to the Ministry of Industry and Trade, two-way trade between Vietnam and Brazil will possibly reach US$2 billion this year.
Many queries from Brazilian companies have been received asking for introductions to local companies as possible future business partners.
In 2012, two-way trade between Vietnam and Brazil exceeded $1.73 billion, an increase of 14.5 percent compared to the previous year. Of which, exports alone hit $710 million, up 18.9 percent year-on-year, while imports touched $1.05 billion, up 11.9 percent.
Brazil is the fastest developing industrialized country in South America with annual imports exceeding $225 billion and average growth rate of more than 15 percent per annum. Last year, the country’s export products accounted for 20.6 percent of total manufactured goods.