Russia views Brazil as important strategic partner - Putin

Interfax, 14.11.2019

BRASILIA. Nov 14 (Interfax) - Russia deems its cooperation with Brazil to be important, Russian President Vladimir Putin said.

"We expect that, after all government bodies are formed and everything functions well, all of our cooperation institutions will be restored," Putin said at a meeting with Brazilian President Jair Bolsonaro.

Russia is looking forward to a visit by the Brazilian chief of staff of the presidency in the near future and a meeting of the Russian-Brazilian intergovernmental commission in 2020, he said.

Putin thanked Bolsonaro for hospitality and the organization of the BRICS summit, which concluded in the Brazilian capital on Thursday. "We view Brazil as an important strategic partner," he said.

Putin recalled that the two countries marked the 190th anniversary of the establishment of diplomatic relations in 2018.

Brazil accounts for over 30% of Russia's trade with Latin America, Putin said. Trade turnover between Russia and Brazil amounted to $5 billion in 2018, he said.

Russia covers all of Brazil's needs for titanium and 17% of its demand for potassium fertilizers. The accumulated Russian investments in Brazil's economy amount to about $1.5 billion.

"The Russian Direct Investment Fund is working with Brazilian partners to form a Russian-Brazilian investment platform, and there are good prospects in the development of space navigation," he said.

Bolsonaro said he was happy to meet with his Russian counterpart and described the negotiations as a good chance to make progress in resolving various issues.