Brazil and Russia to strengthen trade relations

Brazilian Foreign Minister Mauro Vieira said that the country intends to expand trade and economic ties with the Russian Federation. Vieira recalled that in 2022 there was a serious increase in export-import operations between Brazil and Russia, and emphasised that today the prospects for expanding and deepening mutual trade between the two countries are seen as very promising, as reported by Toda Palavra, a partner of TV BRICS.

"Progress should be made in trade relations, which hold great promise. Last year we reached a record level in our trade turnover, approaching $10 billion, but there is still space for growth," noted the Brazilian Foreign Minister. The Brazilian government, he said, is working on ways to diversify mutual trade, which currently covers mainly fertilisers and agricultural products, with products of higher added value.

The minister also mentioned the two countries' cooperation in science, technology, innovation, education and culture.

In addition, Vieira pointed to Brazil's intention to expand the practice of settlements with Russia and other countries in national currencies in a bid to move away from the dollarisation of trade transactions. Currently, the government of the Latin American giant has organised consultations on this issue with other members of the "Five", including the Russian Federation and the People's Republic of China.

In 2023, the Republic of Brazil has already concluded a treaty with the Celestial Empire on mutual trade in national currencies, abandoning the dollar as an intermediary.

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