India, Brazil sign 15 pacts to bolster defence, trade ties

NEW DELHI: Reaffirming a strategic partnership, India and Brazil on Saturday signed 15 agreements as Prime Minister Narendra Modi held talks with Brazilian President Jair Bolsonaro who will also be the chief guest at the Republic Day parade at Rajpath on Sunday.
India wants to open up its relations with Latin American countries, and Brazil could become New Delhi’s gateway to the continent.
The two sides signed a joint statement and an action plan to deepen cooperation in defence and security; trade and investment; agriculture and energy; civil aviation; energy; environment; and health and innovation.They promised to work together to conclude an agreement to deal with international terrorism. The major focus was on boosting bilateral trade and investment as both the large economies have been hit by economic slowdown.
The 15 agreements cover a wide range of areas including oil and gas, mineral resources, traditional medicine, animal husbandry, bio-energy and trade and investment.
India and Brazil drew up ambitious plan to boost their stuttering economies by expanding cooperation in oil, gas and minerals sectors, and set a target of USD 15 billion in bilateral trade by 2022. “Your visit to India has opened a new chapter in ties between India and Brazil,” Modi said. Tweeting later, Modi said, “Apart from bilateral cooperation, India and Brazil are working together at various multilateral forums. We see immense synergies on various issues including the need to uproot the menace of terrorism. India and Brazil will keep working together for a better planet.”