Vietnam Sees Opportunities to Deepen BRICS Engagement: Trade Counsellor

Vietnam is exploring opportunities to deepen its engagement with BRICS (Brazil, Russia, India, China, South Africa). A Vietnamese Trade Counsellor indicated potential for enhanced cooperation across four key areas: expanding trade and market access; attracting and promoting two-way investment; deeper involvement in global supply chains and logistics networks; and advancing cooperation in science-technology, innovation, and digital transformation. This statement coincides with the Vietnamese Prime Minister's visit to New Delhi, India, for the BRICS Summit and bilateral activities. Vietnam-India relations are expected to gain fresh momentum towards more substantive cooperation after a decade of growth. Vietnam's strategic move to actively participate in multilateral forums like BRICS aims to accelerate economic growth and increase its influence on the international stage. Within Vietnam's one-party system, economic development is crucial for maintaining the legitimacy of the government, and expanding international partnerships is a vital means to support this growth. Especially given its strong economic ties with China, engagement with BRICS can be seen as a way to balance economic and geopolitical interests.