Hanoi, February 14, 2025 – The Europe Today: Prime Minister Phạm Minh Chính has urged the acceleration of negotiations for a free trade agreement (FTA) between Vietnam and the Southern Common Market (MERCOSUR), emphasizing its importance in strengthening bilateral economic ties. His remarks came during a meeting with Renato Costa, CEO of Friboi under Brazil’s JBS S.A., one of the world’s largest meat processing companies, on Thursday in Hanoi.
Also in attendance was the Brazilian Ambassador to Vietnam, underscoring the diplomatic significance of the discussions. PM Chính highlighted the necessity of enhancing trade and investment cooperation to fully leverage the strategic partnership between Vietnam and Brazil, which was established in November 2024.
Amid shifting global trade dynamics and economic uncertainties, the Prime Minister encouraged Brazil and its business community to support the Vietnam-MERCOSUR FTA, as well as agreements on trade, investment, labor, visa facilitation, and double taxation avoidance. He also urged Brazil to recognize Vietnam’s market economy status, a move that could facilitate balanced trade and stronger economic ties.
PM Chính welcomed JBS S.A.’s expansion in Vietnam, particularly in livestock farming, meat processing, industrial crop cultivation, and coffee processing. He also proposed collaboration in diversifying markets, products, and supply chains. Additionally, he invited JBS S.A. to connect Brazilian enterprises with Vietnamese partners to foster deeper trade and investment cooperation.
Addressing Vietnam’s interest in the mineral sector, the Prime Minister emphasized Vietnam’s readiness to serve as a gateway for Brazilian businesses looking to enter Southeast Asian and other FTA-linked markets. He assured that Vietnam would provide favorable conditions for JBS S.A.’s operations, ensuring mutual benefits and risk-sharing mechanisms.
For his part, Renato Costa stated that his visit aimed to explore investment and business opportunities in Vietnam, acknowledging the country’s robust economic growth and potential. He reaffirmed JBS S.A.’s commitment to expanding cooperation and called for continued government support in advancing its business ventures.
Costa also expressed the company’s willingness to strengthen business ties between Vietnam and Brazil in line with the Prime Minister’s recommendations, further reinforcing the potential for long-term economic collaboration between the two nations.
