Brazil, Da Nang boost rubber tire export
Local rubber tire producer, Da Nang Rubber joint-stock Corporation and Oceanside One Trading company from Brazil have inked an agreement on rubber tire distribution contract in Brazil and the US market, promising an increase in export turn-over from US$70 million to US$150 million per year.
The contract, which was signed in the central city on April 28 on the occasion of the 35th anniversary of Vietnam-Brazil diplomatic ties, and the on-going Brazil-Vietnam Football Festival, marked as a significant promotion of the trading partnership between Vietnam and Brazil and Da Nang-Brazil co-operation.
Brazil is seen as one of a key market of the Da Nang-based tire manufacturer over past 15 years with an export turn-over of US$70 million per year.
General director of Da Nang Rubber Company, Le Hoang Khanh Nhut said the Brazilian partner -- Oceanside One Trading company – has aided in the penetration of the local key product into the South America and US markets over the past 15 years.
“The company was found 50 years ago, but Brazil has been considered a major destination of the made-in Da Nang rubber tire export. We plan to double the export turn-over in the coming years on the base of traditional trading partnership and key export market of the local product,” Nhut said at the signing ceremony.
"The company was founded 50 years ago. Brazil has emerged as a significant destination for the export of rubber tires made in Da Nang, said Nhut.
"The company plans to double the export turnover in the coming years. This growth will be achieved by leveraging the traditional trading partnership and capitalising on the key export market for local products."
“It’s very honour for us when the signing contract was witnessed by Brazilian ex-football stars and the Brazilian ambassador to Vietnam. The exchange of sport and co-operation between Da Nang and Brazil would help promote investment and trade of the two sides,” he said.
Rubber tire export to Brazil accounted 45% of total revenue of Da Nang Rubber Corporation, Nhat said.
Brazilian Ambassador to Vietnam, Marco Farani said the contract signing ceremony would contribute to trading ties between Vietnam and Brazil.
He said the two countries agreed to boost two-way trade turn-over of Vietnam and Brazil from US$7 billion to US$10 billion in 2030.
He said tourism, sports and trade between Brazil and Da Nang would grow strongly in the coming years.
