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Brazil hopes to grow trade to $25 bn

With an aim to boost trade ties as relations with neighbour Argentina deteriorate, Brazilian President Jair Bolsonaro is set to visit India in the coming week. Due to India’s strong economic growth of 7% in the last decade, Brazil sees huge potential for exports of food and commodities, as expressed by Marcos Troyjo, the special secretary of foreign trade and international relations at the Economy Ministry. “International experience shows us that people eat more and invest in infrastructure when their income doubles,” Troyjo said in an interview in Brasilia. The country hopes to increase bilateral trade to US$ 25 billion in the next few years from US$ 7 billion currently.