President Jair Bolsonaro and his entourage will travel to Moscow on Monday (14) to meet with Vladimir Putin and hold bilateral meetings. “Russia is a significant market with a population of 140 million people. Brazil is interested in increasing its exports, primarily of food. Besides, there is the chance of organization some cooperation initiative within the BRICS”, said former Foreign Trade Secretary Welber Barral, a partner at BMJ Consultores Associados. Brazil sold a total of US$1.7 billion in products to Russia in 2021, accounting for 0.6 percent of total exports, the lowest share in at least two decades. The food items most sold to the Russians are soybeans, poultry meat, beef, coffee, sugar, and peanuts, which makes the country an especially strategic partner for Brazilian agribusiness. Conversely, fertilizers dominate Russia’s exports to Brazil, accounting for roughly 60% (R$3.5 billion) of the R$5.6 billion spent in Russian imports to Brazil in 2021, according to official data on the Brazilian trade balance.
Sources: CNN Brasil/Datamar News