Brazil recognizes Vietnam as market economy

VOV.VN - President Luiz Inácio Lula da Silva announces that the Brazilian government has decided to join over 70 countries in recognizing Vietnam as a market economy.

 President Luong Cuong and his Brazilian counterpart Lula da Silva have discussed a score of measures to deepen the Vietnam-Brazil Strategic Partnership during their talks on March 28 in Hanoi right after the welcome ceremony for the latter.

During the talks, President Luong Cuong warmly welcomed President Lula da Silva, a long-time and close friend of the Vietnamese people, on his return visit to Vietnam. He emphasized that the visit holds special significance as it follows both nations’ decision to upgrade their relations to a Strategic Partnership in November 2024. This visit vividly demonstrates the strong and reliable friendship and cooperation between Vietnam and Brazil, serving as a driving force to elevate and materialize the newly established partnership framework.

In the lead-up to the 50th anniversary of the liberation of the South and national reunification, President Luong Cuong expressed his deep appreciation for the solidarity and invaluable support of President Lula da Silva personally, as well as the Brazilian people for Vietnam, both during its past struggle for national liberation and in its current efforts for national development.

President Lula da Silva showed his joy and emotion in returning to Vietnam after 17 years. He sincerely thanked President Luong Cuong, the State, and the people of Vietnam for their warm, respectful, and thoughtful reception extended to the high-ranking Brazilian delegation and himself.

He also expressed admiration for Vietnam’s glorious history and congratulated the country on their remarkable and comprehensive achievements in the Doi Moi (Renewal) process, as well as the country’s growing international stature and role. He stressed that his visit reaffirms Brazil's appreciation for and desire to strengthen its Strategic Partnership with Vietnam within its broader policy of developing relations with ASEAN and the Asia-Pacific region.

The two State leaders briefed each other on their respective countries' socio-economic development, reviewed recent bilateral cooperation, and compared notes on measures to further deepen and enhance the effectiveness of the Vietnam-Brazil Strategic Partnership. They also discussed regional and international issues of shared concern.

Host and guest expressed their delight at the robust and growing bilateral ties. They particularly welcomed the decision to upgrade relations to a Strategic Partnership in November 2024, marking an achievement in 35 years of diplomatic relations and demonstrating a shared vision for the future development of bilateral ties.

The two sides also underscored the importance of signing and carrying out the Action Plan for the Vietnam-Brazil Strategic Partnership, which was signed during this visit. They agreed to maintain high-level exchanges and contacts while accelerating and effectively implementing existing cooperation mechanisms to review, and realize their agreed-upon directions, measures, and objectives.

Amidst global economic challenges, both sides acknowledged the strong growth in economic and trade relations, with bilateral trade reaching nearly US$8 billion in 2024. Brazil remains Vietnam’s largest trade partner in Latin America, while Vietnam is Brazil’s leading trade partner in ASEAN.

On that basis, the two leaders concurred to direct relevant agencies to enhance measures facilitating bilateral trade and investment. They also discussed the possibility of initiating negotiations for a preferential trade agreement between Vietnam and the Southern Common Market (MERCOSUR).

President Luiz Inácio Lula da Silva announced that the Brazilian government has decided to join over 70 countries in recognizing Vietnam as a market economy.

President Luong Cuong thanked the Brazilian government for recognizing Vietnam as a market economy, highlighting this as a recognition of Vietnam’s economic reform progress and international integration efforts. This move is expected to boost bilateral ties and contribute to the goal of lifting trade turnover to US$15 billion by 2030. The two leaders also assigned their ministers to continue discussions to concretize the implementation of this important decision.

Acknowledging the huge and untapped cooperation potential between the two countries, the two heads of state consented to focus on ramping up cooperation in priority areas of mutual interest, including defence, security, science and technology, clean energy, education and training, culture, sports, and people-to-people exchanges. They encouraged the implementation of sectoral cooperation programs and the negotiation and signing of agreements to establish a legal framework for smooth cooperation within the Strategic Partnership.

The two sides also had in-depth discussions on international and regional issues of mutual concern. Sharing a vision for national development, supporting multilateralism, and working together to enhance the role of developing countries in global governance mechanisms, the two leaders agreed to strengthen coordination, cooperation, and mutual support in international organizations, multilateral forums, and interregional mechanisms. They reaffirmed their commitment to upholding and defending the principle of resolving international disputes through peaceful means, based on respect for international law and the United Nations Charter.

At the conclusion of the talks, President Lula da Silva expressed a wish to further promote substantive and effective bilateral cooperation and extended a formal invitation to President Luong Cuong to pay an official visit to Brazil in the near future and the invitation was graciously accepted.

Immediately after the talks, President Luong Cuong and President Lula da Silva, along with senior delegations from both countries, witnessed the signing and exchange of several important bilateral agreements, including the Action Plan for the Implementation of the Vietnam-Brazil Strategic Partnership, an agreement on employment with income for family members of diplomatic personnel, a government-level agreement on the exchange and protection of classified information, a memorandum of understanding on establishing a working group to promote trade and industrial cooperation between Vietnam’s Ministry of Industry and Trade and Brazil’s Ministry of Development, Industry, Trade, and Services, as well as a memorandum of understanding on football cooperation between the Vietnam Football Federation and the Brazilian Football Confederation.

Vietnamese State President Luong Cuong and Brazilian President Luiz Inacio Lula da Silva met with the press to inform about the outcomes of their earlier talks.

The two State leaders agreed to continue expanding cooperation and exchanging experience in mutually complementary fields such as high technology, green development, digital transformation, renewable energy, and innovation.

 

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