Brazil's President Luiz Inacio Lula da Silva is scheduled to visit Vietnam next week, accompanied by a business delegation that includes representatives from aircraft manufacturer Embraer and food company JBS. Both companies are in discussions for potential business deals in Vietnam. This visit is significant as Vietnam is looking to reduce its trade surplus under pressure from the Trump administration and is aiming to increase imports from the United States, particularly agricultural products like soybeans, in which Brazil is a key exporter to Vietnam.

Lula's upcoming trip to Vietnam, his second as president, is planned for March 27-29 following his visit to Japan. During the visit, he is expected to extend an invitation to Vietnam to attend a BRICS summit in Brazil in July. Brazil has been eager to enhance cooperation with Vietnam in defense, agriculture, and energy sectors, particularly in ethanol production, where Brazil holds a significant global position as a producer.

Brazil is keen on boosting exports to Vietnam and is seeking approval from Hanoi to import Brazilian beef. This approval is crucial for JBS, which is contemplating investing in a meat processing facility in northern Vietnam. Additionally, Embraer is in discussions to potentially sell aircraft to Vietnam Airlines, including E190 narrow-body jets and C-390 military transport planes. The Vietnamese aviation market is rapidly growing, and local airlines are looking to expand their fleets.

Vietnam is also engaged in talks with the U.S. to procure C-130 military transport planes manufactured by Lockheed Martin. Both Brazil and Vietnam are exploring various avenues to strengthen their economic and trade relations during President Lula's visit.