Vietnam Brazil Trade Expands Rapidly

Trade between Vietnam and Brazil reached US $379 million 300 thousand in the first 8 months of this year, an increase of 17.34% over the whole year of 2007.

According to statistics from the Ministry of industry and foreign trade of Brazil, Vietnam exported more than US $123 million to Brazil at the end of August, and imports exceeded US $225 million 620 thousand, an increase of 98.14% and 111.44% respectively.

Brazil's main exports to Vietnam are frozen chicken products, processed leather, wheat, timber, tobacco, iron and steel products, wood pulp, raw cotton and beef.

Brazil President Lewis • &#8226 • Da Silva (Luiz Inacio Lula Da Silva) visited Vietnam last July, predicting that trade between the two countries will reach 1 billion US dollars by 2010.

In 2007, bilateral trade between Vietnam and Brazil increased by 58%, reaching a new high of 323 million 200 thousand dollars.