Latest News

Brazil's Lula will meet Vietnam's leaders in order to boost trade relations

Luiz inacio Lula da silva, Brazil's president, will meet Vietnam's leaders on Friday at Hanoi as he travels to the Southeast Asian country with a large delegation of businessmen to try to strengthen trade and economic links under the shadows of a trade war. Lula's visit comes at a time when Hanoi is under pressure to reduce its huge trade surplus by the Trump administration. Hanoi has also pledged to increase U.S. Imports, which includes farm products like soybeans that Brazil is the top exporter of to Vietnam. A Brazilian official familiar with the agenda stated that both countries will sign an action plan for defence, agriculture and energy, as well as other pacts regarding information exchange and diplomatic issues.

According to the tentative schedule, the signing ceremony will take place after Lula's meeting with Vietnam President Luong Cuong on Friday morning. It will be followed, without questions, by a press conference.

Lula will discuss possible negotiations between Mercosur and Vietnam, which is a major industrial hub in the region, for a new trade agreement during Brazil's second-half presidency of South America bloc, the official said.

Lula, who spoke in Tokyo on Tuesday, said that similar talks between Japan Mercosur will be launched later this Year.

Brazil also wants to improve Vietnam's relationship with BRICS. This is a group it leads along with Russia, India China and South Africa. Pham Minh Chinh, the Prime Minister of Vietnam, attended a BRICS Summit in Russia as an observer for the first-time last year. However Vietnam has not yet accepted an invitation to join the club.

The Brazilian official stated that Lula will likely invite Chinh at the BRICS Summit he will be hosting in July.

Lula and Chinh will attend a business forum on Saturday with Brazilian and Vietnamese firms.

Sources say that among the 40 or so executives who accompanied Lula were representatives of Embraer, a Brazilian planemaker, and JBS, a food giant, both of which are considering doing business in Vietnam. (Reporting and editing by John Mair; Additional reporting by Timothy Kelly, Tokyo)

(source: Reuters)