India-Brazil bilateral trade to touch $10 billion


New Delhi: India and Brazil on March 8 decided to forge stronger trade and economic ties and decided to work towards achieving a target of $10 billion bilateral trade over the next few years from the $7.73 billion in 2010.

This was agreed at a meeting between the Union Commerce and Industry Mini-ster, Anand Sharma and the visiting External Relations Minister of Brazil, Antonio Patriota here.

Sharma said India was desirous to forging stronger trade and economic ties with Brazil. The economic complementarities between the two countries would cement the trade and economic relations further and help in the inclusive growth of both the nations, he said. Both sides agreed for setting up of CEOs Forum and identified the priority sectors such as energy, oil, tourism, pharmaceuticals, value-added manufacturing, mining and agro-processing. Both the countries also signed an Air Service Agreement.

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