Look forward to welcome Brazil’s Prez Lula da Silva to India: PM Modi
In a significant development, Prime Minister Narendra Modi spoke to Brazil’s President Luiz Inácio Lula da Silva on Thursday, expressing his eagerness to welcome the Brazilian leader to India. The conversation between the two leaders comes at a time when both countries are working to strengthen their bilateral ties and address common challenges, including tariff-related tensions with the United States.
According to a statement released by the Prime Minister’s Office, PM Modi and President Lula da Silva reviewed the strong momentum in the India-Brazil Strategic Partnership, which has been gaining traction in recent years. The two leaders emphasized the importance of close cooperation between their countries, particularly in advancing the shared interests of the Global South. This cooperation is crucial for promoting economic development, social justice, and environmental sustainability in the region.
The India-Brazil Strategic Partnership was established in 2006, with the aim of promoting bilateral cooperation in areas such as trade, investment, science and technology, and defense. Since then, the partnership has grown significantly, with both countries working together on a range of initiatives, including joint research projects, trade agreements, and cultural exchanges.
One of the key areas of cooperation between India and Brazil is trade. Both countries have been working to increase trade volumes and diversify their trade relationships. In 2020, India and Brazil signed a trade agreement aimed at reducing tariffs and increasing market access for Indian and Brazilian goods. The agreement has helped to boost trade between the two countries, with bilateral trade reaching $7.8 billion in 2020-21.
However, despite the progress made in trade relations, both India and Brazil are facing challenges in their trade relationships with the United States. The US has imposed tariffs on certain Indian and Brazilian goods, citing concerns over trade deficits and unfair trade practices. These tariffs have had a significant impact on the economies of both countries, with Indian and Brazilian exporters facing difficulties in accessing the US market.
In their conversation, PM Modi and President Lula da Silva discussed the need for cooperation in addressing these trade challenges. They agreed that the Global South must work together to promote fair trade practices and resist protectionism. The two leaders also emphasized the importance of reforming the global trade architecture to make it more equitable and responsive to the needs of developing countries.
The visit of President Lula da Silva to India is expected to provide a significant boost to bilateral relations between the two countries. During his visit, the Brazilian leader is expected to hold talks with PM Modi and other Indian leaders on a range of issues, including trade, investment, and defense cooperation. The two countries are also expected to sign several agreements and memoranda of understanding (MoUs) in areas such as renewable energy, agriculture, and education.
The visit is also expected to provide an opportunity for India and Brazil to strengthen their cooperation in regional and international forums, such as the BRICS grouping and the G20. Both countries have been working together to promote the interests of the Global South and to address common challenges, such as climate change and pandemics.
In conclusion, the conversation between PM Modi and President Lula da Silva reflects the growing importance of the India-Brazil Strategic Partnership. The partnership has the potential to promote economic development, social justice, and environmental sustainability in both countries and to contribute to the advancement of the Global South. As PM Modi looks forward to welcoming President Lula da Silva to India, there is a sense of optimism and excitement about the possibilities that this visit holds for the future of India-Brazil relations.
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