Vietnam yet to tap brazilian market
HANOI - One of Vietnam's international economic advisers has identified computers, electrical parts, spare parts and consumer goods as potential exports to Brazil.
Vietnamese Commercial Counsellor to Brazil Pham Ba Uong said two-way trade between Vietnam and South America's biggest economy reached about US$199 million as of December 20, 2006, a year on year increase of 76 per cent. Of the amount, over $70 million came from Vietnamese exports, mostly footwear, coal, textiles, garments, rubber, electronics and computers.
Vietnamese products, however, still made up a tiny stake of Brazil market, said Uong. Vietnam exported $49.2 million worth of products to Brazil in the last nine months of 2006, accounting for only 0.0736 per cent of the countrys total import turnover.
With its recent entry into the World Trade Organisation, Vietnam has more opportunities to access financial resources, technology and management skills, which will help produce competitive products, the counsellor said.
Moreover, he also suggested domestic firms with high quality products take the lead in penetrating the Brazilian market and seeking new trade partners.
Vietnam and Brazil established diplomatic ties on May 8, 1989. In September 1994, Brazil opened its embassy in Hanoi, becoming the first South American country to have diplomatic head-quarters in Vietnam.
Vietnam News Agency - January 5, 2007.
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