Brazil’s Lula Strengthens Economic Ties with Vietnam Amid Global Trade Shifts

Brazilian President Luiz Inacio Lula da Silva is visiting Vietnam with a high-level business delegation to deepen trade and economic cooperation as global trade tensions persist. Scheduled to meet Vietnamese President Luong Cuong in Hanoi on Friday, Lula aims to expand bilateral ties in agriculture, defense, energy, and technology.

This marks Lula’s second official visit to Vietnam. It comes at a strategic time, as Vietnam—facing U.S. pressure to reduce its trade surplus—has pledged to increase imports, including soybeans, of which Brazil is a leading exporter. Brazil also hopes to boost exports of beef and aircraft, with representatives from Embraer and JBS among the 40-plus executives accompanying Lula.

The two countries are expected to sign multiple cooperation agreements, including a joint action plan. Following his meeting with Cuong, Lula will attend a signing ceremony and deliver a press statement without taking questions.

Lula is expected to propose launching trade negotiations between Vietnam and Mercosur, the South American trade bloc currently presided over by Brazil. He also mentioned in Tokyo that similar talks with Japan are on the horizon.

In addition, Brazil is pushing to deepen Vietnam’s involvement with BRICS. Although Vietnam's Prime Minister Pham Minh Chinh attended the 2023 BRICS summit in Russia as an observer, the country has yet to formally join. Lula is likely to extend a fresh invitation to Chinh for the BRICS summit he will host in July.

On Saturday, Lula and Chinh will attend a Brazil-Vietnam business forum, further signaling growing bilateral economic interest.

With strategic trade discussions and high-level engagement, Brazil is positioning itself as a key partner in Vietnam’s expanding global economic landscape.