PM Modi’s Brazil Visit: Key Agreements Signed to Boost Bilateral Cooperation

Brasilia: Prime Minister Narendra Modi met with Brazilian President Luiz Inácio Lula da Silva at Alvorada Palace in Brasilia today, marking a significant milestone in the bilateral relations between the two countries. The meeting was part of PM Modi’s state visit to Brazil, where he was warmly received by President Lula and accorded a colorful ceremonial welcome.

The two leaders discussed strengthening bilateral trade, including the expansion of the India-MERCOSUR Preferential Trade Agreement, with a target to increase bilateral trade to $20 billion over the next five years. They also explored investment opportunities in the hydrocarbon and renewable energy sectors, given the immense potential in both countries.

PM Modi thanked Brazil for its solidarity and support extended to India in the aftermath of the terrorist attack in Pahalgam, emphasizing the need for zero tolerance on terrorism. Both leaders reaffirmed their commitment to multilateralism and reform of global governance institutions, including the UN Security Council, and agreed to work together to strengthen global action on climate change.

The meeting resulted in the finalization of agreements in areas such as digital cooperation, including India Stack, and intellectual property rights. The two countries also agreed to cooperate in combating international terrorism and transnational organized crime, agricultural research and development, and renewable energy.

A luncheon banquet was hosted by President Lula in honor of PM Modi, where both leaders exchanged views on regional and global issues of mutual interest. PM Modi invited President Lula to visit India, which he graciously accepted. The meeting marked a significant step forward in strengthening the strategic partnership between India and Brazil.