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On Wednesday, November 17, the Minister of Economic Development of Russia Maxim Reshetnikov had a working meeting with the Minister of Agriculture, Livestock, and Food Supply of Brazil, Tereza Cristina da Costa, who was on a visit to the Russian capital.
The parties pointed out that despite the decline in mutual trade last year due to the effects of the pandemic, it was possible to reverse the negative trend in 2021 and enter a growth trajectory. In January-September, Russian-Brazilian trade increased by 74.6% to USD 4.9 billion compared to the same period in 2020, already exceeding the 2020 totals by 18.3%.
"Since 2010 Brazil has firmly maintained its position as Russia's number one trading partner in Latin America, with a share of 33% of our country's trade turnover with the region," said the head of the Russian Ministry of Economic Development.
The ministers commended the 11th meeting of the Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation and expressed readiness to further deepen cooperation within the Intergovernmental Commission.
Maxim Reshetnikov also invited representatives of Brazil to participate in the 25th anniversary St Petersburg International Economic Forum in June 2022, as well as in the INNOPROM-2022 international industrial exhibition in Yekaterinburg in July.