India and Brazil have emphasized the urgent need for a comprehensive reform of the United Nations Security Council (UNSC) to help it address contemporary challenges to international peace and security. This agreement was reflected in a joint communiqué issued after the 8th Meeting of the Brazil-India Joint Commission (JCM), the Ministry of External Relations informed on Saturday.
Foreign Minister co-chaired the meeting
The Joint Commission meeting, which was held in Brasilia on August 24, was co-chaired by Foreign Minister S. Jaishankar and his Brazilian counterpart, Carlos Alberto Franco Franca. According to a Foreign Ministry statement issued on Saturday, the strategic partnership established in 2006 has been deepened. This partnership is based on shared democratic values, a common global vision, and a commitment to promoting economic growth with social inclusion and sustainable development for the well-being of our people.
The MEA said the two countries also cooperate extensively in multilateral organizations, including the United Nations, and in multilateral forums such as G20, BRICS, IBSA, BASIC and G4.
Discussion on all aspects of bilateral relations
During the talks in Brazil, the two foreign ministers discussed all aspects of bilateral relations. They reviewed trade and economic ties and expressed satisfaction with the steady growth in bilateral trade despite the challenges posed by the COVID-19 pandemic.
“Total bilateral trade increased by 63.5 percent to the US $11.53 billion in 2021 over the previous year and India became Brazil’s fifth largest trading partner,” the Foreign Ministry said. It noted the great potential for growth and diversification of bilateral trade and urged the private sector to explore opportunities in the respective markets.
Both sides expressed satisfaction with the recent progress in mutual cooperation.
The Indian Foreign Minister mentioned Brazil’s investments in sectors such as IT services and equipment, machinery, energy, auto parts, defense products, fintech, and health goods.
The Brazilian foreign minister acknowledged that a large number of Indian companies are investing in Brazil in sectors such as petroleum, mining, engineering, tractor manufacturing, information technology, pharmaceuticals, agrochemicals, and power transmission.
The two ministers agreed on the possibility of expanding the areas in which companies have invested in both Brazil and India.
Both sides expressed satisfaction with recent progress in bilateral cooperation in ethanol production, cattle breeding, and dairy development.
They also expressed a strong desire to increase the level of cooperation in the areas of defense, science and technology, and health.
In this regard, the Brazilian side thanked the Government of India for the supply of COVID-19 vaccines during the pandemic.
The two ministers appreciated the close coordination between the two countries at the UN Security Council in 2022 when the two countries reconciled as elected members.
The Foreign Ministry said the two ministers emphasized the urgent need for a comprehensive reform of the UN Security Council, in particular, its expansion to permanent and non-permanent categories, making it more representative of contemporary challenges to international peace and security. Be effective and responsive.
Both ministers stressed the importance of the G20.
The two ministers stressed the importance of the G20 and agreed to cooperate closely during the next presidencies of India (2023) and Brazil (2024). Ministers Franca and Jaishankar agreed to give a new impetus to IBSA, which brings together three major democratic, pluralistic, and diverse societies of the developing world, India, Brazil, and South Africa, three continents.
The two ministers also welcomed the cooperation under BRICS, which has yielded fruitful results for both countries since its inception.
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