To attend the India Brazil Trade Monitoring Mechanism, the Commerce Secretary travels to Brazil
From October 1 to October 4, 2023, Sunil Barthwal, Secretary, Department of Commerce, Ministry of Commerce & Industry, made an official trip to Brazil for the sixth meeting of the India-Brazil Trade Monitoring Mechanism (TMM). A group of 20 business executives from the Confederation of Indian Industry (CII) accompanied him. The visit took place against a backdrop of rapid expansion in bilateral trade, which doubled in size over the previous two years to reach US$16 billion. It was intended to strengthen the rapidly expanding commercial ties between the two nations.
The Commerce Secretary expressed India's commitment to supporting Brazil when it takes over the G20 Presidency during his contacts with Brazilian officials, thanking Brazil for its assistance during India's G20 Presidency.
The Indian delegation met with representatives from important Brazilian organisations, such as the Confederation of Industries of Brazil, the Commercial Association of Sao Paulo, the Federation of Industries of the State of Sao Paulo (FIESP), and businesses in Rio de Janeiro to discuss new trade opportunities and show their commitment to advancing international trade and investment prospects.
The delegation took part in a number of trade facilitation events on October 2, 2023, with the goal of fostering the expanding commercial links between India and Brazil. A fruitful discussion with the So Paulo Commercial Association served as a forum to discuss prospective business alliances. The day came to a close with an interactive session with Indian businesses doing business in Brazil, strengthening links within the business community and seeing fresh chances to advance trade.
Brazilian businesses that have invested in India were invited to a breakfast meeting on October 3 to discuss the Indian government's commitment to assisting foreign investors. The topic of fresh trade and investment potential was also covered at this meeting. Shri Barthwal met with the Federation of Industries of the State of So Paulo (FIESP), a significant industry chamber in the area, as well as representatives from top MICE (Meetings, Incentives, Conferences, and Exhibitions) organisations in Brazil.
The Secretary of Commerce co-chaired the sixth meeting of the India-Brazil Trade Monitoring Mechanism (TMM) on October 4, 2023 in Brasilia with Tatiana Lacerda Prazeres, Secretary of Foreign Trade for the Federative Republic of Brazil. Both parties engaged in comprehensive discussion of issues pertaining to bilateral trade and laid forth a plan for its further development.
To further the economic and commercial relationship between the two countries, Barthwal also had extensive conversations with H.E. Mr. Marcio Elias Rosa, Vice Minister of Development, Industry, Trade, and Services of Brazil.
The Secretary of Commerce co-chaired the sixth meeting of the India-Brazil Trade Monitoring Mechanism (TMM) on October 4, 2023 in Brasilia with Tatiana Lacerda Prazeres, Secretary of Foreign Trade for the Federative Republic of Brazil. Both parties engaged in comprehensive discussion of issues pertaining to bilateral trade and laid forth a plan for its further development.
To further the economic and commercial relationship between the two countries, Barthwal also had extensive conversations with H.E. Mr. Marcio Elias Rosa, Vice Minister of Development, Industry, Trade, and Services of Brazil.