Brazil's President Luiz Inacio Lula da Silva will visit Vietnam next week with a business delegation that includes executives from planemaker Embraer and food giant JBS, both of which are engaged in discussions for potential deals in the Southeast Asian nation.
This marks Lula's second visit to Vietnam as president, occurring amid pressure on Vietnam from the Trump administration to decrease its significant trade surplus with the United States, which includes agricultural products like soybeans, a key export from Brazil.
Lula will be in Vietnam from March 27-29 after visiting Japan. During this visit, he is expected to invite Vietnam to participate in the BRICS summit in Brazil in July. Vietnam was invited last year to become a BRICS partner but has yet to act on the invitation.
The two countries are anticipated to finalize an action plan focusing on defense, agriculture, and energy, which could enhance cooperation on ethanol, a fuel for which Brazil is a leading global producer. Brazil is also seeking to boost exports to Vietnam and is requesting that Hanoi authorize imports of its beef, confirming earlier reports from Vietnamese state media.
The opening of the Vietnamese market to Brazilian beef is a precondition for a potential investment by JBS in Vietnam. The company is considering establishing a meat-processing hub in northern Vietnam, its first facility in Asia, with a possible investment of tens of millions of dollars.
Separately, Embraer is in negotiations concerning the sale of ten E190 narrow-body jets to Vietnam Airlines. The company is also pursuing a sale of C-390 military transport planes, with a potential showcase flight planned for May.
Additionally, Hanoi is looking to procure C-130 military transport planes produced by Lockheed Martin. Vietnam is among the fastest-growing aviation markets globally, and local carriers have been actively working to expand their fleets.
Recently, senior executives from aviation giants Airbus and Boeing met with top Vietnamese officials, and Vietnam has shown interest in China's COMAC jets.