(VOVWORLD) - The Southern Common Market (Mercosur) and Vietnam have launched negotiations for a preferential trade agreement, Brazilian Foreign Minister Mauro Vieira announced at the bloc's 67th summit in Foz de Iguazu on Saturday.
 Seafood is one of Vietnam’s key export products to Brazil. (Photo:VGP) |
Vieira, representing Mercosur's rotating presidency, described Vietnam as an important trading partner for the South American bloc. Brazil is currently Vietnam’s leading trading partner in Latin America.
In recent years, trade between Vietnam and Brazil has grown strongly, reaching 7.7 billion USD in 2024. Both countries aim to increase bilateral trade to 10 billion USD in 2025 and 15 billion USD by 2030.
Vietnam’s key exports to Brazil include seafood, rubber, garments, footwear and steel, while major imports consist of soybeans, grains, animal feed and cotton.