Saturday, April 14, 2007

outcome of visit of Brazilian and Cuban Foreign Ministers 10-13 April

During the visit of Cuban foreign minister 10- 11 April, the Government of India announced the waiver of Cuban debt of 62 million dollars. The principal amount is 29 million dollars and interest accumulated since 1990 was 33 million dollars. Since this issue has now been resolved, trade can be resumed now. Cubans are interested in import of pharmaceuticals, consumer goods and industrial products.

In the Indo- Brazil Joint Commission meeting 12-13 April, a trade target of 10 billion dollars was fixed for 2010. A large Brazilian business delegation will visit India in the first week of June 2007. A Indo-Brazil CEO Forum will be launched soon.

There are opportunities for Indian companies to do railway projects in Brazil and supply locomotives and wagons.
Brazilian infrastucture companies are interested in entry into India.

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