Bolsonaro trip to India will see him sign up to 12 trade and investment agreements

Brazilian president Jair Bolsonaro will travel to New Delhi, India, for a state visit, between January 24th and 27th. The highlight of the visit is expected to be the signing of 10 to 12 trade and investment agreements, according to Brazil’s Ministry of Foreign Affairs.

In 2019, Brazil exported US $ 2.76 billion to India, a number the Brazilian government views as low, and hopes to see increase especially considering the potential growth in sectors like food and energy. Last year, Brazil registered a deficit of $ 1.49 billion in its trade with India, a reversal of the $ 246 million surplus registered in 2018, according to updated data from the Ministry of the Economy.

“There is a lot of potential to be explored,” said ambassador Reinaldo José de Almeida Salgado, secretary of bilateral negotiations in Asia, the Pacific and Russia. “We need to improve, and that is one of the objectives of the visit,” he said.

Brazil and India are set to sign agreements to facilitate mutual investments and cooperation in cybersecurity, bioenergy and health.

“The objective [of Bolsonaro’s trip] is to have a close look at Asia, by far the most dynamic region in the world and also a region that has 65% of the world’s population. With India, we still have a lot of room to improve trade ”, reinforced the diplomat.

At least six ministers are confirmed in the presidential entourage: Ernesto Araújo (Foreign Affairs), Tereza Cristina (Agriculture), Bento Albuquerque (Mines and Energy), Marcos Pontes (Science and Technology), Augusto Heleno (Institutional Security Office) and Osmar Terra (Citizenship).

Source: Agência Brasil

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