Brazil considers recognizing VN as market economy

Deputy PM Vuong Dinh Hue meets Brazilian Minister of Development, Industry and Foreign Trade Marcos Jorge, Brazil, July 2, 2018 - Photo: VGP/Thanh Chung

At the meeting with Brazilian Minister of Development, Industry and Foreign Trade, Deputy PM Hue proposed the two sides strengthen delegation exchanges, organize trade promotion activities and join hand in harmonizing standards and regulations. 

He suggested facilitating the access of advantageous items from Viet Nam such as tra fish and shrimps, and beef from Brazil to each other’s market, requiring Brazil to consider reducing tariff imposed on stainless steel imported from Viet Nam. 

Mr. Marcos Jorge highly spoke of bilateral agreements inked during Mr. Hue’s official visit to Brazil, proposing the two sides soon negotiate to ink an investment protection agreement. 

He agreed to enhance trade investment activities, confirming to suggest the Brazilian Government soon recognize Viet Nam as a market economy in 2018. 

He suggested Viet Nam back the negotiation of a trade agreement between Brazil and ASEAN, adding that he will actively arrange a visit to Viet Nam as soon as possible, expecting he can make it in November 2018. 

Deputy PM Vuong Dinh Hue holds a working session with Brazilian Minister of Agriculture, Livestock and Food Supply Blairo Maggi, Brazil, July 2, 2018 - Photo": VGP/Thanh Chung

During the reception for Mr. Hue, Minister of Agriculture, Livestock and Food Supply Blairo Maggi agreed to boost agricultural cooperation between the two sides, including the establishment of legal documents to create a foundation for further cooperation. 

Brazil has a lot of experience in sustainable agricultural development and is willing to exchange experience with Viet Nam in this field, he said, proposing the two sides strengthen cooperation in quarantine and food safety, thus creating favorable conditions for their agricultural products to enter their markets. 

*On the occasion of Deputy PM Vuong Dinh Hue’s visit to Brazil, the two sides signed cooperative documents including the Government-level agreement on aviation cooperation, a memorandum of understanding (MoU) on agricultural cooperation and a MoU between the Viet Nam Chamber of Commerce and Industry and the Brazilian Trade and Investment Promotion Agency (APEX). 

By Thuy Dung