Lula of Brazil to Meet Vietnam's Leaders to Strengthen Trade Relations

Brazilian President Luiz Inácio Lula da Silva will meet with Vietnam’s leaders in Hanoi on Friday, leading a major business delegation to the Southeast Asian country in an effort to strengthen trade and economic relations amid the backdrop of a global trade conflict.

Lula's second visit to Vietnam comes at a time when Hanoi, under pressure from the Trump administration to cut its significant trade surplus, has committed to increasing U.S. imports, including agricultural products like soybeans, of which Brazil is a leading exporter.

A Brazilian official familiar with the agenda said the two countries are expected to sign an action plan covering defense, agriculture, energy, technology, and other agreements related to information exchange and diplomatic matters. The official noted that discussions are likely to include exports of beef and aircraft.

The signing ceremony is set to occur on Friday morning following Lula's meeting with Vietnam's President Luong Cuong, with a press statement afterward, though no questions will be permitted, according to the provisional schedule.

The official, speaking anonymously, said that Lula plans to discuss the potential initiation of trade negotiations between Vietnam, a key regional industrial hub, and Mercosur during Brazil’s presidency of the South American bloc later this year.

Lula also mentioned in Tokyo on Wednesday that similar talks with Japan and Mercosur are expected to begin later this year.

According to the officials of Brazil, the country has such a great interest in putting Vietnam closer to the fold of BRICS, a bloc co-headed by Russia, India, China, and South Africa.

For the first time last year at a summit in Russia, Prime Minister of Vietnam Pham Minh Chinh, attended a BRICS summit as an observer, but so far has not accepted an invitation to join the group as a formal partner.

The Brazilian official indicated that Lula is likely to invite Chinh to the BRICS summit he will host in July.

On Saturday, Lula and Chinh are scheduled to participate in a forum with Brazilian and Vietnamese companies.

Among the over 40 executives accompanying Lula are representatives from aircraft manufacturer Embraer and food giant JBS, both of which are reportedly exploring potential deals in Vietnam, sources say.