Thursday, 27 Nov, 2008 Politics

Russia and Brazil to Reach $10Bln Trade


Yesterday the Russian President Dmitry Medvedev mentioned that the trade between Russian Federation and Brazil is going to reach the annual value of $10 billion.

"Our trade relations have already reached the level of $6 billion. This year we have a chance to exceed this figure, and soon reach 10 billion dollars," said the Russian President, who recently paid a visit to Brazil.

It is worth mentioning that in 2007 the trade between two countries reached $5.2 billion. After meeting the Brazilian president Luiz Inacio Lula da Silva, Dmitry Medvedev told the reporters that both Russian Federation and Brazil should build a "technological alliance."

"I believe the task of forming a technological alliance between the Russian Federation and Brazil can be successfully fulfilled, and very soon," said Mr Medvedev.

In addition to Russia's interests in raw materials, Dmitry Medvedev also added that the cooperation between the two parties will also involve working on high-tech products in power industry, space research, telecommunications and support in military and technical fields.

It is also worth mentioning that the director of the Russian military-technical cooperation service, Mikhail Dmitriyev, stated that Brazil became interested in acquiring Russian military hardware, including aircrafts and armored vehicles, reported Russian News Agency RIA Novosti. Mr Dmitriyev mentioned that Russia would sign an agreement on the issue.

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