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Bilateral trade with Brazil may go beyond $10bn
05 Jun '07
3 min read
India and Brazil need to create world market by supporting each other and need private sector to cooperate in this effort, said President Lula. He said that Brazil is running 'Growth Acceleration Program' with an investment of $250 billion with a focus on development of infrastructure and Indian entrepreneurs can directly invest in the infrastructure sector.
He said that India and Brazil have not even identified 10% of the bi-lateral trade opportunities and there is lot of potential in the exchange of technology and engineering capabilities. Brazil can contribute to India's agricultural sector whereas India can provide pharmaceutical technology to Brazil, he added.
President Lula said the government and business community from both the countries should focus on increasing the bi-lateral trade with the increased opportunity in the current world market.
India and Brazil have already emerged as the strong voice of developing nations in the Trade negotiations, said Mr. Kamal Nath, Minister of Commerce and Industry, Government of India.
The business delegation accompanying the President from Brazil will give positive signals to the business community on both sides and will further strengthen the relations leading to further increase in trade and investments between both the countries, said the minister.
Brazil is the third largest trade partner in the Latin America and the trade between the two countries should rise to $10 billion as targeted.
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He said that India and Brazil have not even identified 10% of the bi-lateral trade opportunities and there is lot of potential in the exchange of technology and engineering capabilities. Brazil can contribute to India's agricultural sector whereas India can provide pharmaceutical technology to Brazil, he added.
President Lula said the government and business community from both the countries should focus on increasing the bi-lateral trade with the increased opportunity in the current world market.
India and Brazil have already emerged as the strong voice of developing nations in the Trade negotiations, said Mr. Kamal Nath, Minister of Commerce and Industry, Government of India.
The business delegation accompanying the President from Brazil will give positive signals to the business community on both sides and will further strengthen the relations leading to further increase in trade and investments between both the countries, said the minister.
Brazil is the third largest trade partner in the Latin America and the trade between the two countries should rise to $10 billion as targeted.
Click here to read more:
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