Brazil, India sign cooperation agreements

Brazil and India signed on Tuesday a series of cooperation agreements at the ongoing India-Brazil-South Africa (IBSA) Dialogue Forum summit in Brazil's capital of Brasilia, reports reaching here said.

One agreement envisaged establishing cooperation on exploitation and trade of oil and gas between the two countries, according to Brazil's state-owned oil and gas giant Petrobras President Jose Sergio Gabrielli, who attended the meeting.

Other agreements involved cooperation between Brazil and India in technology, science, agriculture, aviation, culture and mining.

According to Brazilian Minister of Development, Industry and Foreign Trade Luiz Fernando Furlan, the Brazilian government intended to double the country's exports to India, which currently account for just 2 percent of Brazil's total exports.

Furlan also expressed optimism on the prospects of cooperation on ethanol, a fuel made from sugar canes, between Brazil and India, both with climates that favor the production of sugar canes.

Using environment-friendly ethanol like fuels would generate a great number of job opportunities in Brazil and reduce the dependence on fossil fuels, said Furlan.

The IBSA summit, held on Sept. 12-13, has brought together government representatives and entrepreneurs from Brazil, India and South Africa to discuss business opportunities in those countries.

Source: Xinhua