Brazil and India hold bilateral meeting to discuss trade deals

After taking part of the Brics summit, which finished yesterday, in India, the Brazilian President, Michel Temer, had today a bilateral meeting with Narendra Modi, Prime Minister of India.

According to the Brazilian press, Brazil wants to attract Indian investment and both countries have signed several commercial agreements. All the deals were carried out in order to guarantee that investors will have more legal security when investing in the country.  By the way, this point was also stressed by the Executive Secretary, Moreira Franco, last week, when he held meetings in London with infrastructure companies.

However, in an interview published by Folha de S. Paulo, the Agriculture Minister, Blairo Maggi, said that India is still a very protective country, such as presenting phytosanitary barriers to the importation of Brazilian commodities. According to the minister, these barriers must be lifted, particularly when it comes to pork and poultry meat.

At the 8th Brics meeting, several deals on agriculture and environment research were also signed. One of them, for example, says that India must cooperate with Brazil exporting genes of zebu cattle to Brazil.

At the moment, all Brics members (Brazil, Russia, India, China and South Africa) are enduring sluggish economies, with rising unemployment and falling GDP. India is the only exception, presenting a fast growth. Last year its economy grew 7.2%.

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