BRICS+ now comprises 56% of the world population and 44% of global GDP.
Vietnam's inclusion in BRICS reaffirms its independent foreign policy.
Trade between Vietnam and Brazil has grown significantly, reaching nearly $8 billion.
Both countries are working towards a Free Trade Agreement (FTA) by 2025.
PM Chính advocated for enhanced South-South economic connectivity and the application of AI and technology for sustainable development.
The expansion of BRICS signifies a shift in global economic power, with developing nations playing a more prominent role. Vietnam's strategic non-alignment, as demonstrated by its decision to join BRICS, underscores its commitment to independent foreign policy. The strengthening of Vietnam-Brazil relations is marked by increased trade, mutual support for FTAs, and cooperation in agriculture, technology, and innovation. These developments reflect a broader trend of South-South cooperation and the pursuit of multilateral solutions to global challenges. Brazil is Vietnam’s largest trading partner in Latin America, accounting for almost 35% of Việt Nam’s total trade with the region. A new coffee production and export alliance may also be in the works, as Brazil and Vietnam are the world's first and second largest coffee producing countries.
Q: What is the significance of Vietnam joining BRICS?
It reaffirms Vietnam's independent foreign policy and strengthens its ties with other developing nations.
Q: How has trade between Vietnam and Brazil evolved?
Trade turnover has increased from $1.5 billion in 2011 to nearly $8 billion, with both countries aiming for $10 billion soon and $15 billion by 2030.
Q: What are the key areas of cooperation between Vietnam and Brazil?
Economy, trade, investment, agriculture, science and technology, and innovation.
BRICS expansion signals a shift in global economic power.
Vietnam is solidifying its position as a key player in international relations.
Vietnam and Brazil are strengthening their strategic partnership through increased cooperation and trade.
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