ST. PETERSBURG (Pakistan Point News / Sputnik - 01st December, 2022) Bilateral trade between Russia and Brazil may reach $10 billion by the end of 2022, Brazilian Ambassador to Russia Rodrigo de Lima Baena Soares said on Wednesday.
"By September, (the trade) amounted to $7 billion. We expect ($10 billion), but we are not sure... By the new year, there may be $10 billion. This is a forecast. It is quite possible, maybe $10 billion," the ambassador told reporters.
The diplomat noted that Brazil, Russia's main trading partner in the Latin American region, currently buys much more fertilizers and fuel from Russia. He also said that Brazil exports soybeans and sugar, as well as equipment to Russia, and plans to increase beef supplies.
"First of all, we supply agricultural products. These are coffee, tobacco, fruits and other goods. Russia is now the main supplier of fertilizers to our country. Fertilizers are of great importance for the development of our agricultural sector," the ambassador added.
Brazil and Russia have great opportunities for the growth of bilateral trade, including in industrial products, according to the ambassador.
