Brazil President Jair Bolsonaro’s India’s visit: Food, Energy and Space Cooperation areas of focus 

By: |
Published: January 22, 2020 9:31:05 PM

President Bolsonaro who is coming on a State Visit from January 24-27 at the invitation of Prime Minister Modi is accompanied by seven senior ministers, top officials and a large business delegation with CEOs of big companies from different sectors.

Brazil President, Jair Bolsonaro, Jair Bolsonaro India visit, Bio Energy, BRICS Summit, Ministry of External AffairsThe Brazil leader is the chief guest at India’s 71st Republic Day Parade on January 26. (Reuters photo)

Talks between Prime Minister Narendra Modi and President of Brazil Jair Bolsonaro later this week will focus on economic and financial dialogue, Bio-Energy, Oil and Gas and Mineral Resources, Science & Technology, Defence and Space Cooperation. Also, the two leaders will talk about Brazil’s role in India’s Energy and Food Security. The Brazil leader is the chief guest at India’s 71st Republic Day Parade on January 26.

As has been reported earlier, Brazil has offered help in boosting the production of ethanol and to help in the opening of the Indian market for the biofuel. At the end of talks the leaders are going to witness the signing of at least a dozen MoUs in various sectors including an action plan to strengthen the Strategic Partnership, an Investment treaty & MoU in the field of energy & Cyber Security are expected to be inked.

President Bolsonaro who is coming on a State Visit from January 24-27 at the invitation of Prime Minister Modi is accompanied by seven senior ministers, top officials and a large business delegation with CEOs of big companies from different sectors.

According to the Ministry of External Affairs (MEA), the last Presidential level visit from that country was by President Michel Temer in October 2016 when he had come for the VIII BRICS Summit in Goa. Last November, Modi had visited Brasilia to attend the XI BRICS Summit.

India has had Brazil Presidents as Republic Day chief guest in 1996 and 2004.

Ahead of the visit of the Brazil President, the Union Cabinet approved an MoU to be inked in the field of oil and natural gas which includes collaboration in Liquefied Natural Gas projects in Brazil, India & third countries.

Andre Aranha Correa da Lago, ambassador of Brazil to India in an earlier interaction with Financial Express Online said “` Action Plan for strengthening Strategic Partnership and a dozen more agreements are to be signed at the end of bilateral talks between the two sides.”

As has been reported by Financial Express Online, for its Energy Security, India is looking at increasing its crude imports from the South American nation.

Today, the South American nation holds the 10th position as the largest producer with 150 million tonnes (mt) oil globally and is followed by Mexico on the 11th position with its production at 110 mt.

The bilateral trade between the two countries has increased to $ 8.2 billion in 2018-19. While the Indian investments in Brazil were around $6 billion, Brazilian investments in India are estimated at $ 1 billion in 2018.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1J&K encounter: Militant killed in Kashmir’s Pulwama district
2Pakistan has ‘limited options’ to respond to India’s decision on Jammu and Kashmir, says US CRS report
3Defence Ministry approves procurement of indigenous military hardware worth Rs 5,100 crore, construction of six submarines