India-Brazil to Strengthen Cooperation in Making Drugs and Medicines

Shri Anand Sharma, the Union Minister for Commerce, Industry and Textiles, led a delegation of officials, CEOs, FICCI (Federation of Indian Chambers of Commerce and Industry) leaders and pharmaceutical companies, to Sao Paulo from 13-14 June 2012.

Minister Sharma invited companies from Brazil to invest in India`s national infrastructure, manufacturing in Special Economic Zones and the food-processing sector.

In addition, India and Brasil had a round table discussion focusing on the pharma industry’s multiple testing requirements, registration and import licenses. Since both countries have similar issues, they agreed to constitute an industry level working group to identify hurdles in further strengthening pharmaceutical cooperation.

Shri Sharma also welcomed the soft launch of the CEOs forum and the first meeting between the Indian and Brazilian Chairs of this Forum during the visit. The Ministers also noted with satisfaction the progress being made in establishing a sectoral dialogue in areas such as infrastructure, IT and services, mining and agriculture.

Earlier, Shri Sharma met the Foreign Minister of Brazil, Ambassador Antonio Patriota, in Rio de Janeiro on June 12. The Foreign Minister of Brazil hosted a private dinner for the Indian Minister and his delegation. During the meeting and the dinner, the two Ministers had discussions on the international economic situation, the Eurozone crisis and its impact on our countries, the need to consolidate South-South cooperation, and trade issues including the Doha Round.

The Minister and the delegation also met the President of the National Development Bank, Dr. Luciano Coutinho. Issues relating to inter-bank cooperation between BNDES and EXIM Bank, the proposal of a BRICS Bank, agreement on trade in local currency among BRICS countries, and the role that BNDES can play in financing joint ventures between Brazil and India, were discussed.


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