Putin, Rousseff discuss trade facilitation
July 14, 2014, 10:29 pm

Putin with President of the Federative Republic of Brazil Dilma Rousseff on 14 July 2014 [PPIO]

“Brazil is a major trade and economic partner to Russia in Latin America” and trade turnover has been growing steadily over the past decade, Putin said. He admitted, however, that the volume of trade between the two countries had slightly decreased over the past two years, 3.2% in 2013.

“It was high time we met to talk about all the problems we are facing and map out ways to solve them. We discussed with Madame Rousseff possible practical steps and measures aimed at reversing this situation,” Putin said.

The two leaders discussed easing trade restrictions on investment and high-tech funding, aiming to increasing trade flow from $5.6 billion to $10 billion annually.

Putin and Rousseff witnessed the signing of a slew of agreements to further cooperation in defense, trade, aviation, science and technology.

“We are partners not just in trade, we also emphasized the importance of defense cooperation and the peaceful use of nuclear energy,” Rousseff said in Brasilia.

In a press conference after the talks, Rousseff said although since 2004, bilateral trade has doubled the two sides have agreed on the need to increase it to reach the goal of $10 billion.

“We discussed the prospect of concluding the Summit of the BRICS with an agreement to set up the Development Bank of the Brics. Russia expressed interest in participating in this increasingly closer relationship within the BRICS, “said Rousseff.

She also said Moscow will aid the country in organizing the Olympics that Brazil is set to host in 2016.

“Brazil and Russia will cooperate in the organization of mega sports events, like the 2018 World Cup and the 2016 Olympics,” Rousseff said.

According to an ITAR Tass report, the two Presidents also discussed Syria and the situation in the Middle East.

“Russia and Brazil have common approaches to the resolution of key global problems with the central and coordinating role of the United Nations and with international law taking precedence in solving regional conflicts,” said Putin.

Putin is now headed to Fortaleza for the 6^th BRICS Summit.

 TBP