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The Russian President highlighted mutual investment and cooperation in the industry as keynotes of the meeting.
Russia-Brazil ties were cemented with the formation of BRICS.
Vladimir Putin stressed on introducing widespread use of national currencies – the ruble and the real – in bilateral payments.
“This will make business cooperation between our two countries more resistant to shocks in the global economy and help build up strong technological ties between our companies,” said Putin.
Bilateral trade between the two nations grew by over 10 per cent to $6.5 billion in 2011.
Russian President Putin said he expects it to soar further: “Our goal is to reach not less than $10 billion in the nearest future”
Sales to Russia account for over 40 per cent of Brazil’s beef export.
Following the meet, Brazil and Russia signed a Joint Statement and Further Steps for Fulfilling the Strategic Partnership Plan of Action.
The two leaders oversaw the signing of a package of bilateral documents on economic, sports and military cooperation, as well as a plan for holding political consultations and a contract outlining the basic terms and conditions for supplying Ka-62 helicopters.
In what could also be described as a significant endorsement of Russia’s foreign policy on Syria, the Brazilian President reiterated cooperation.
“We understand Russia’s concerns over tensions in Syria and support Moscow in what it has been doing to settle the conflict”, Rousseff said.