Taking advantage of the 35th anniversary of diplomatic relations between the two nations, the secretary presented the New Industry Brazil (NIB), the industrial policy launched by the Brazilian president in January of this year, with opportunities for partnerships in areas such as research and development.

The Executive Secretary of the Ministry of Development, Industry, Trade and Services of Brazil, Márcio Elias Rosa, has received a high-level delegation from Vietnam, led by Vice Minister of Industry and Trade, Phan Thi, with whom he has discussed actions to strengthen bilateral relations and explore new opportunities for cooperation between the two countries.

Taking advantage of the 35th anniversary of diplomatic relations between the two nations, the secretary presented the New Industry Brazil (NIB), the industrial policy launched by the Brazilian president in January of this year, with opportunities for partnerships in areas such as research and development and sustainable technologies, aligning with global environmental objectives and the energy transition.

"Vietnam inspires us to invest in very significant strategic sectors related to high technology, such as semiconductors," said Elías Rosa, reiterating Brazil's interest in receiving investments in highly technologically complex sectors.

"Brazil has a friendly system for the development of semiconductors, we have a company established in Rio Grande do Sul and there is a public policy to encourage the development of semiconductors, in addition to having a great competitive advantage because we work with a very high level of sustainability," he said.

The Executive Secretary reiterated Brazil's proposal for an Investment Cooperation and Facilitation Agreement (ICFA) to provide greater legal certainty and predictability to bilateral investors. He also highlighted the importance of partnerships in the agricultural, sustainable energy and aviation sectors.

In response to Vietnamese interest in moving towards a possible Free Trade Agreement between Vietnam and Mercosur, the secretary has mentioned that he will take the issue to Mercosur partners, after having highlighted the intense negotiating agendas of the bloc at this time.

Vietnam was Brazil's 17th foreign supplier and 18th destination for Brazilian exports in 2023. In 2023, Brazilian exports to Vietnam grew by 8.9% compared to the previous year, from US$3.4 billion to US$3.7 billion.

Brazilian imports from Vietnam grew by 0.8% compared to the previous year, from US$2.9 billion to US$3 billion.