March 29, 2024

India and Brazil sign over a DOZEN trade treaties as Bolsonaro makes first visit to New Delhi

President Bolsonaro, who became the first Brazilian head of state to visit India, had a seemingly productive one-on-one with Prime Minister Modi earlier in the day. The two leaders exchanged pleasantries and warm words before proceeding with talks – the most closely watched part of the meeting.

“Your visit to India has opened a new chapter in bilateral ties between India and Brazil,” Modi said in his media statement while greeting Bolsonaro.

At the end of the day, Brazil and India – both members of the informal BRICS bloc – inked 11 agreements, among them a Strategic Partnership Action Plan and a Bilateral Investment Treaty. Other documents related to bio-energy, cyber security, investment, health, and medicine.

Aside from key ministers, Bolsonaro’s delegation also included representatives of 50 major Brazilian companies ranging from civil aviation and agriculture to defense. As a so-called “chief guest,” he will attend Republic Day – India’s biggest holiday – later on Sunday.

While India and Brazil are the world’s largest emerging economies after China, they perform beyond their potential with bilateral trade amounting to some $8.2 billion a year. India’s red carpet rollout for Bolsonaro signals that New Delhi and Brasilia want their economic ties to thrive.

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Article source: https://www.rt.com/business/479157-brazil-india-investment-trade/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

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