Development of India, Brazil key to our relations: Brazilian President

Visiting Brazilian President Luiz Inacio Lula da Silva today said that India and Brazil should work together for the development of both countries.

New Delhi, June 4 : Visiting Brazilian President Luiz Inacio Lula da Silva today said that India and Brazil should work together for the development of both countries.

"India and Brazil are two major democracies. We both are on a path of major expansion of the economies. We need to work towards development of both countries to strengthen our trade relations and our country relations as well," said Lula after his ceremonial welcome in the forecourt of Rashtrapati Bhavan.

President A.P.J. Abdul Kalam and Prime Minister Manmohan Singh receivedula, who was given a tri-service guard of honour.

Later, External Affairs Minister Pranab Mukherjee called on Lula and discussed a range of bilateral, regional and global issues.

Lula is due to address captains of business and industry at a function jointly organised by CII, FICCI and Assocham, later in the day.

He will also have meetings with President APJ Abdul Kalam and Prime Minister Manmohan Singh. Lula and Manmohan Singh will interact with the newly formed India-Brazil CEO Forum.

Some bilateral agreements are also expected to be signed during the visit.

Congress party president Sonia Gandhi and Leader of Opposition LK Advani will also call on the visiting dignitary.

Lula, who had visited India in January, 2004 and as the Chief Guest for the Republic Day celebrations, is being accompanied by a large delegation comprising ministers, officials and businessmen.

Lula's state visit assumes significance as after Manmohan Singh's visit to Brazil in September 2006, bilateral relations have been upgraded to a 'strategic partnership'.

The third meeting of the Indo-Brazilian Joint Commission, held in New Delhi and co-chaired by Pranab Mukherjee and his Brazilian counterpart Celso Amorim, has covered cooperation in a number of areas such as agriculture, science and technology, trade and investment, energy, education, defence, space, nuclear energy, health, culture and sports.

It has been agreed that a Festival of Brazil will be organised in India in January-March, 2008 and a Festival of India will be held in Brazil in July-September, 2008.

On trade front, the two countries have seen significant increase in recent years. In 2006, India's exports to Brazil were 1470 million dollars and imports 937 million dollars. A number of Indian companies have made investment and joint ventures in Brazil in areas such as pharmaceuticals, IT and energy.

The Brazilian companies have also started targeting India for investment and business in areas such as infrastructure, food processing and energy.

India and Brazil work closely in multilateral fora, including UN, WTO and G-20. The two sides are also working together in the G-4 Group seeking permanent membership of UN Security Council.

ANI