Brazil calls for greater bilateral trade with India

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top 10 economies and we are both fighting in the WTO in the interests of the developing world."

Jorge is leading a strong business delegation to India.

Asia represents 20% of Brazilian foreign trade, about $ 43.7 billion and the region is responsible for the recent surge in Brazilian exports. India represents only 1% of Brazilian trade flow.

"In 2007 on a year-on-year basis, our bilateral trade with India increased by 30% amounting to $ 3.1 billion. We need to accelerate our trade so that the target of $ 10 billion is reached by 2010," Jorge said.

In 2007, Brazil's exports to India was valued at $ 957.9 million and India's exports to Brazil was valued at $ 2,164.9 million. Diesel was responsible for 50% of India's exports to Brazil.

Stressing on the need to diversify the export-import basket, Jorge said, "Brazil would also like to export electric and electronic products, food, machine and equipment, transport materials and many other value-added products."