India, Brazil sign 15 pacts
India and Brazil agreed on an action plan to strengthen bilateral partnership and signed fifteen pacts in sectors ranging from agriculture to energy following talks between Prime Minister Narendra Modi and Brazilian President Jair Bolsonaro who is on a four-day visit to India and the Chief Guest at India’s Republic Day celebrations.
The action plan provides for following up in a coordinated manner the outcomes and activities of the existing institutional mechanisms and the implementation of cooperation initiatives in all areas of bilateral relations.
As per the action plan, all the new goals identified by the two sides to strengthen ties as well as the existing mechanisms would be grouped in six major thematic areas: political and strategic coordination; trade & commerce, investments, agriculture, civil aviation and energy mechanisms; science, technology and innovation, space cooperation, environment and technical cooperation, health mechanisms; defence and security mechanisms; culture and education mechanism; consular issues, social security and legal cooperation mechanism.
Important areas covered by the agreements signed include health, bio-energy cooperation, cultural exchange, geology and mineral resources, animal husbandry and science & technology.
As the main mechanism for high-level political dialogue and cooperation between the two countries, the India-Brazil Joint Commission for Political, Economic, Scientific, Technological and Cultural Cooperation shall be the main forum for monitoring the implementation of the action plan of the strategic partnership.
The Joint Commission will convene every two years and will evaluate the bilateral cooperation in all areas in accordance with the present action plan. New institutional mechanisms that might be established to meet the demands of the bilateral relations will be framed in accordance with the present action plan.
Major Indian exports to Brazil include agro-chemicals, synthetic yarns, auto components and parts, pharmaceuticals and petroleum products. Brazilian exports to India include crude oil, gold, vegetable oil, sugar and bulk mineral and ores.