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Brazil Property News: Brazil to strengthen trade links
15th October 2007 03:11
Brazil will attend a summit in South Africa this week in a bid to strengthen its international trade links.
The second India-Brazil-South Africa (IBSA) Heads of State Summit will kick off on October 17th in Pretoria.
At the meeting President Thabo Mbeki of South Africa, Prime Minister Manmohan Singh of India and Brazilian president Luiz Inacio Lula da Silva are expected to sign a trade agreement.
Jerry Matjila, deputy director-general of the South African foreign affairs ministry, said that his country would be increasing its "aviation capacity" with Latin America in the coming months.
He said: "We will soon be flying to Argentina to increase capacity. We hear that one of the Indian airlines will be flying from India to South Africa very soon. There is a need to create such a capacity."
Mr Matjila added that the talks would also consider the issue of maritime connectivity.
It is estimated that the trade volume between the three developing countries currently stands between $6 billion (£2.94 billion) and $7 billion (£3.4 billion) with a goal to increase this figure to $10 billion (£4.9 billion) over the next ten years.
IBSA aims to promote dialogue and co-operation between the three southern-hemisphere countries.
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