Brazil expands its commerce with Russia
Date
7/23/2023 9:04:19 AM
(MENAFN) Brazil is eager to expand its commerce with Russia, according to Foreign Minister Mauro Vieira, who spoke with RIA Novosti previously in the week.
The high-ranking representative praised last year's increase in trade turnover among both nations, saying it had the potential to develop much further.
“It is necessary to make progress in trade relations, which have great potential for growth. In 2022, we set a new record in our trade turnover, approaching the $10 billion mark, but it can grow even more,” Vieira said.
Due to the minister, the Brazilian administration is exploring methods to diversify mutual commerce, that presently consists primarily of fertilizers as well as agricultural items, with high-value-added outputs. He also mentioned the possibility of working with Russia on initiatives in innovation, science, and technology, in addition to culture and education.
As stated by Vieira, Brazil is interested in adopting local currencies in commerce with Russia as well as additional global partners to lessen reliance on American dollar and euro. The Brazilian government is now in discussions with its BRICS allies, mainly Russia as well as China, over the issue.
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