He made the statement while receiving Renato Costa, CEO of Friboi under Brazil’s JBS S.A, one of the world's largest meat processing companies operating in 24 countries, including Vietnam.

At the meeting in Hanoi on February 13, which was also attended by the Brazilian Ambassador to Vietnam, the Government leader underlined the need to bolster trade and investment cooperation to match the potential of both countries and translate their strategic partnership, established in November 2024, into concrete results.

Amid shifting global trade dynamics and economic uncertainties, PM Chinh urged both sides to deepen bilateral collaboration, particularly in sectors of interest to JBS S.A. He called on the Brazilian Government and business community to support the Vietnam-MERCOSUR FTA, as well as bilateral agreements on trade, investment, labor, visas, and double taxation avoidance. Additionally, he urged Brazil to recognize Vietnam’s market economy status to facilitate balanced trade and stronger business ties.

The PM encouraged JBS S.A. to expand its presence in Vietnam, particularly in livestock farming, meat processing, industrial crops, and coffee processing. He also suggested cooperation in diversifying markets, products, and supply chains. Furthermore, he invited JBS S.A. to connect more Brazilian enterprises with Vietnamese partners to boost trade and investment.

Expressing Vietnam’s interest in stepping up cooperation with Brazil in the mineral sector, the Vietnamese cabinet leader reaffirmed the country’s readiness to serve as a gateway for Brazilian businesses entering Southeast Asia and other FTA-linked markets. He also pledged favorable conditions for JBS S.A.’s operations in Vietnam, ensuring mutual benefits and risk-sharing.

For his part, Costa said his visit aimed to explore investment and business opportunities in Vietnam, recognizing the country’s strong economic growth and potential.

He affirmed JBS S.A.’s commitment to expanding cooperation and called on the Vietnamese Government to continue supporting its business ventures. Costa also reiterated the company’s willingness to strengthen business ties between Vietnam and Brazil in conformity with the PM’s recommendations.

Brazil solidifies position as Vietnam's biggest trade partner in Latin America

With bilateral trade hitting US$7.1 billion in the first 11 months of this year, Brazil remains Vietnam's largest trading partner in Latin America, according to Vietnamese Ambassador to the Latin American nation Bui Van Nghi.