The two leaders said they would work to raise bilateral trade to 10 billion USD by 2025 and 15 billion USD by 2030.
They also agreed to continue promoting the start of negotiations on a free trade agreement between Vietnam and the Southern Common Market (MERCOSUR), of which Brazil is a member.
PM Chinh asked Brazil to provide conditions for increasing imports of Vietnamese goods to help balance bilateral trade.
PM Chinh and President da Silva agreed to promote consensus on Brazil’s recognition of Vietnam’s market economy status, and the signing of a double taxation avoidance agreement.
They agreed to enhance cooperation in defense and security, and coordinate within multilateral mechanisms and activities.
The leaders agreed to increase their collaboration in fighting trans-national crime and climate change, promoting sports, innovation, digital transformation, green development, renewable energy, and bio-fuel, conserving tropical forest ecosystems and biodiversity, and protecting the Mekong and Amazon river ecosystems.
PM Chinh said Vietnam is ready to help Brazil strengthen cooperation with ASEAN and put ASEAN-MERCOSUR relations on a par with the potential.
The two leaders shared the view that all parties need to resolve international differences and disputes by peaceful means, not use or threaten to use force, and respect international law and the UN Charter.
Brazil voiced support for the peaceful settlement of disputes in the East Sea (known internationally as the South China Sea) on the basis of international law and the guaranteeing of security, safety, and freedom of navigation and overflight in those waters.
Addressing a press conference after the talks, PM Chinh said he and the host agreed that the comprehensive partnership between Vietnam and Brazil has developed positively.
“High-level contacts and delegation exchanges between the Party, Government, and National Assembly of the two countries are being maintained. Vietnamese and Brazilian people have sincere feelings, trust, solidarity, and friendship for each other,” said Mr. Chinh.
He went on to say that bilateral economic and trade relations are developing well. Brazil is Vietnam's number 1 partner in Latin America and Vietnam is Brazil's largest trading partner in ASEAN.
“We have agreed to continue strengthening extensive, substantive, and effective cooperation in all fields. The President and other leaders in the Brazilian government will soon recognize Vietnam’s market economy status. This will promote economic, trade, and investment relations between the two countries in accordance with the wishes of their people,” according to PM Chinh.
Earlier PM Chinh and President da Silva witnessed the signing of cooperation agreements between their countries’ governments, ministries, and agencies.