Lula to Vietnam business leaders: ‘’Milestone for new stage of cooperation’’

''This is the most productive and most important trip that Brazil has ever made to Vietnam. It marks a new phase of cooperation." With these words, at the closing of the Brazil-Vietnam Economic Forum this Saturday in Hanoi, President Luiz Inácio Lula da Silva highlighted the significance of his State visit to the Asian country, which, among other achievements, led to the opening of the Vietnamese market to beef produced from Brazil.

>>> President Lula’s full speech

“Having Brazil as a trusted partner is important for Vietnam, deepening our commercial discussions to find similarities between our countries, and establishing a more robust trade policy. The opening of the Vietnamese market to Brazilian beef is the first step in this direction. The negotiation of a Mercosur-Vietnam agreement, which Brazil plans to launch upon assuming the bloc's presidency, will also contribute to this goal. Brazil will be Vietnam’s gateway to Latin America,” emphasized the Brazilian leader.

Also present at the event, Vietnamese Prime Minister Pham Minh Chính echoed Lula’s words. “Vietnam will serve as the gateway to Brazil. We are willing to facilitate the entry of Brazilian goods into the Asian market. We wish to thank Brazil for being the gateway for Vietnamese products into the Mercosur market. Vietnam has already paved the way for the entry of Brazilian beef, and Brazil for our agricultural products,” he affirmed.

Having Brazil as a trusted partner is important for Vietnam, deepening our commercial discussions to find similarities between our countries, and establishing a more robust trade policy. The opening of the Vietnamese market to Brazilian beef is the first step in this direction’’

Luiz Inácio Lula da Silva, President of the Republic

MARKET ECONOMY – This is Lula's second visit to Vietnam. Since his first trip to the country 17 years ago, trade between the two nations has grown significantly, increasing from USD 534 million in 2008 to USD 7.7 billion in 2024, a record high in the historical series, with a positive Brazilian balance of USD 405 million. The joint goal is to reach USD 15 billion by 2030.

SYNERGIES – For Lula, this is proof that even distant countries can find synergies and opportunities. "In a time when protectionism threatens to disrupt global value chains, we are allies in the fight for a fairer international trade, based on multilaterally agreed  rules. The decision to recognize Vietnam as a market economy, which I had the honor of announcing yesterday, is a result of the maturity of our economic relationship," he emphasized.

OPPORTUNITIES – The president mentioned the potential to deepen partnership opportunities in areas such as education, science, and culture. "It is important for us to deepen the relationship among our specialists and researchers. Our universities need to communicate more. We must deepen our cultural relationship because Vietnam has a very rich culture, and Brazil has a very rich culture as well. We also need to strengthen our relationship in sports," the President said. He also expressed gratitude for Vietnam's support of the Global Alliance Against Hunger and Poverty, launched by Brazil within the framework of the G20 in 2024.

EMBRAER – After Brazil secured the sale of 15 Brazilian Company of Aeronautics (Empresa Brasileira de Aeronáutica AS /EMBRAER) jets to All Nippon Airways (ANA), Japan's largest airline, with the possibility of acquiring five more aircraft, in a deal worth nearly BRL 10 billion in investments, Lula envisions that the same path could be followed in the Vietnamese market. "The company is ready to provide Vietnam Airlines with aircraft that are ideal for enhancing connectivity in Southeast Asia. The offer includes the installation of a training and maintenance center in Vietnam. The signing of the Memorandum of Understanding on Defense Cooperation in 2023 paved the way for partnerships in this sector. The EMBRAER multi-role C-390 Millennium aircraft could also perfectly meet the needs of the Vietnamese Air Force."

RENEWABLE ENERGIES – Another item highlighted by the Brazilian President concerns the potential for partnerships in the field of renewable energies. “Decarbonization is not a choice, it is a necessity and an opportunity. We have decades of experience in biofuels, which are low-cost alternatives for the automotive and aviation sectors, and the same for electricity generation. There is potential for cooperation in wind and solar energy, as well as in green hydrogen. The private sector has an important role to play in reducing emissions and financing climate,” stated Lula.

COP30 – Referring to COP30, to be held in November in Belém, Lula disclosed that Brazil will launch the proposal for the Tropical Forest Forever Fund (Fundo Florestas Tropicais para Sempre) at the event and hopes for Vietnam’s support. “During Brazil’s presidency of the G20, we proposed the Tropical Forest Forever Fund, which we intend to launch at COP30. The goal is to generate a permanent flow of financial support to tropical countries that, like Brazil and Vietnam, conserve forests for the benefit of all humanity. Brazil calls on all countries to submit ambitious NDCs (Nationally Determined Contributions) aligned with the goal of limiting global warming to one and a half degrees,” urged the Brazilian leader.

ACTION PLAN – On Friday (March 28), Lula and the President of Vietnam, Luong Cuong, signed the Action Plan for the Implementation of the Strategic Partnership. The plan brings together priorities for the bilateral relationship in topics such as defense, economy, trade and investments; agriculture; food and nutritional security; science, technology and innovation; environment and sustainability; energy transition; as well as social and cultural cooperation and consular affairs. The Strategic Partnership aims to deepen political dialog, strengthen economic cooperation, increase trade flow and investments, enhance coordination on multilateral agenda issues, and drive new cooperation initiatives.

PANELS – The Brazil-Vietnam Economic Forum brought together business leaders from the bioenergy, animal protein, general food, agricultural research, logistics, aeronautics and textile industry, and mining sectors, as well as representatives from the Brazil-Vietnam Chamber of Commerce. The event also featured a ministerial panel, with the presence of Brazilian ministers Luciana Santos (Science, Technology, and Innovation), Alexandre Silveira (Mines and Energy), Renan Filho (Transport), Marina Silva (Environment), Silvio Costa Filha (Ports and Airports), and Carlos Fávaro (Agriculture and Livestock).

VISIT – Before attending the Brazil-Vietnam Economic Forum, President Lula visited the Vietnam Military History Museum, accompanied by the Vietnamese Vice President, Vo Thi Anh Xuan.