Friday, December 9 2005 19:05 Hrs (IST) - World Time -

Kolkata: Indo-Brazil bilateral trade in first 10 months of 2005 grew 120 per cent in comparison with the entire trade figure last year, Brazilian Ambassador in India Jose Vicente Pimentel said here today (Dec 09, 2005).

Pimentel said in an interaction with CII that there were open avenues of cooperation with India in energy, agriculture and in scientific and technological fields, with opportunities identified in some other sectors, like leather, steel, cotton and tyres.

Large Brazilian companies, such as PETROBRAS and CVRD, were likely to open their offices in India, he added.

Stating that Brazil was looking forward to the Prime Minister Manmohan Singh's visit to that country, possibly in the first quarter of 2006, Pimentel said that the bilateral Joint Commission meeting, to be held in Brazil on January 30, would further enhance the bilateral agenda.

Indian Prime Minister's visit, he said, could reap the benefit of the 'best possible political climate', adding that Indian businessmen negotiation rounds in Brazil would complement both these governmental meetings.

In addition, he said, a trilateral maritime agreement was presently under negotiation within India-Brazil-South Africa Forum (IBSA) that should help develop direct shipping link and reduce freight costs over time.