Vietnam-Brazil trade hits over $1.7b

30-Aug-2014 Intellasia | VOV | 6:00 AM Print This Post

Two-way trade between Vietnam and Brazil fetched $1.745 billion in the first seven months of the year, reported the Vietnamese Trade Office in Brazil.

Of the total, Vietnamese exports generated $770.3 million, up 29.5 percent compared to the same period last year, and its imports notched up $974.7 million, a rise of 41.4 percent.

Several Vietnamese products attaining high export growth included fibres (up 112 percent), mobile phones and components (109.5 percent), handbags, suitcases, hats and umbrellas (42.9 percent), and garments (45.2 percent).

The Trade Office said Brazil is the main supplier of material inputs for production in Vietnam. Major imports are corn seeds, wood and wood products, cotton, garment and leather accessories, tobacco materials, and animal feed.

To raise bilateral trade value to $3 billion this year, the Trade Office said it is seeking to expand markets, by keeping regular contact with local authorities and businesses and boosting trade promotion.

It said Vietnamese businesses should seize open opportunities in Brazil – the world’s seventh largest market in the world with a population of more than 200 million.

The office suggested that businesses increase trade promotion and showcase products at international trade fairs and exhibitions, especially those held at Sao Paulo economic centre, in order to explore the market, establish partnerships, and penetrate other markets in South America. billion/280619.vov


Category: Economy, Vietnam

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