India, Brazil sign three pacts

February 19th, 2008 - 8:18 pm ICT by admin  

New Delhi, Feb 19 (IANS) India and Brazil signed three pacts covering infrastructure, poverty alleviation and sports as External Affairs Minister Pranab Mukherjee wrapped up a visit to South America’s largest nation. Mukherjee, on a three-day visit, held talks with his Brazilian counterpart Celso Amorim in Brasilia and discussed a wide range of bilateral, regional and global issues, Indian officials said here.

“The two ministers signed three MoUs on Infrastructure, combating hunger and poverty alleviation and cooperation in sports and youth affairs which will impart added momentum to the multifaceted bilateral engagement of India and Brazil,” foreign ministry spokesman Navtej Sarna said.

The two ministers also sought to energise the CEOs Forum which was set up in June last year during the visit of Brazilian President Lula da Lula to India.

Trade ties between India and Brazil, separated by vast distances, are growing but remain below potential, both countries feel. In a renewed effort to increase bilateral trade and investment, Brazilian Minister of Development, Industry and Foreign Trade Miguel Jorge will visit India next month with an entourage of top businessmen.

New Delhi will host the third summit of IBSA regional grouping that comprises India, Brazil and South Africa - the three emerging powers of Asia, Latin America and Africa - later this year.

Arlindo Chinaglia, president of Brazil’s Chamber of Deputies, told Mukherjee that a preferential trade arrangement (PTA) between India and Mercosur (the Southern Common Market) will be ready for voting soon by a plenary session of the Chamber of Deputies. This will lead to a quantum jump in business ties between the two countries.

In a special gesture, Chinaglia invited Mukherjee to briefly attend a Plenary Session of the Chamber of Deputies.

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