Russia and Brazil plan joint ventures
Several joint ventures are being planned by Russia and Brazil in the food, leather and manufacturing sectors to cement the growing economic ties between the two countries. The Russian ministry of economic development and trade has calculated that trade between Russia and Brazil has increased by 50% in 2001 to a total of $1.5 billion, compared with 2000. The figures were reported to the Russian press in preparation for a visit by the Brazilian president Fernando Henrique Cardoso to Moscow.
Plans include a joint leather operation in Russia and joint assembling of buses and trolleys on Russian-made chassis in Brazil. Russia mainly exports raw materials and semi-finished products to Brazil, and imports Brazilian food products such as sugar and coffee.
