Brazil’s defense industry seeks new business opportunities with India

The Indian Minister of Foreign Affairs, Subrahmanyam Jaishankar, and his entourage were received in Brasilia (Federal District) by the Brazilian Minister of Foreign Affairs, Carlos França.

The two ministers chaired the 8th Meeting of the Brazil-India Joint Commission for Political, Economic, Scientific, Technological, and Cultural Cooperation.

The Brazilian Association of Defense and Security Industries (Abimde), represented by its president, Roberto Gallo, participated in the meeting.

“Through ABIMDE, our BIDS was privileged to participate in this important meeting with the Indian delegation, which should generate good results for both countries. This approach will further strengthen our relations and may pave the way for new partnerships, business, and technological exchanges,” Gallo stated after the meeting.

ABIMDE has the support of the Brazilian Agency for the Promotion of Exports and Investments (APEX-Brazil) to bring the Defense and Security Industrial Bases of the two countries closer together.

STRATEGIC PARTNERSHIP

Brazil and India have been strategic partners since 2006. According to data from the Ministry of Foreign Affairs (MRE), in 2021, bilateral trade reached US$11.5 billion, and India was Brazil’s fifth-largest trading partner.

Between January and July 2022, the exchange between the two countries reached almost US$8 billion.

During the meeting, Subrahmanyam Jaishankar expressed satisfaction with Brazilian investments, mainly in defense products, IT services and equipment, machinery, energy, auto parts, fintechs, and healthcare equipment.

Both sides expressed their strong will to intensify cooperation in science and technology, defense, and healthcare. The two parties also welcomed the visit of the frigate INS Tarkash to Brazil, which contributed to strengthening ties in the defense sector.

UN, IBSA, & BRICS

In a statement, the MRE revealed that the two ministers highlighted the close coordination between Brazil and India at the United Nations Security Council in 2022, when both countries will coincide as elected members.

They also reaffirmed the urgent need for a comprehensive reform of the Security Council, especially its expansion to permanent and non-permanent categories, to make it more representative, effective, and responsive to contemporary challenges to international peace and security.

They also agreed to give new impetus to IBSA, which brings together India, Brazil, and South Africa, three major democratic, pluralistic, and multi-ethnic societies from three continents, in the interest of the developing world and South-South cooperation.

Both ministers also highlighted the cooperation within the framework of the BRICS, which has generated important results for both countries since its creation.

The next meeting of the Joint Commission will be held in India in 2024, at a date yet to be determined.

With information from InfoDefensa

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error