Brazil should increase trade with other countries like Russia, Mexico and Venezuela, Brazilian President Luiz Inacio Lula da Silva said Tuesday.

But the nation should avoid aggravating trade rivalries with other emerging powers, Lula said in the central state of Goias, adding that "to buy a little and sell a little, is what makes foreign trade somewhat fair."

According to the trade ministry, Brazil's two-way trade reached an all-time high in January this year.

Brazil has an annual trade surplus of 3.4 billion U.S. dollars with Russia, and 3.2 billion with Venezuela and 4.4 billion with Mexico, Lula said.

"The eyes on us get bigger, the scrutiny increases, the rivalry increases and our adversaries also grow," Lula said, adding that Brazil has become a world leader in exports of beef, chicken, soy, sugar and cotton.

Brazilian exports grew by 18.3 percent year-on-year to 10.9 billion U.S. dollars. In January, imports to Brazil amounted to 8.5 billion dollars, up by 31.3 percent from a year ago. As a result, the trade surplus fell from 2.82 billion dollars to 2.49 billion dollars.

Imports are increasing at a faster pace than exports, as Brazil is purchasing more raw materials and capital goods from abroad, according to the ministry.

Source: Xinhua