Trade turnover between Azerbaijan, Brazil growing

Brazilian Ambassador to Azerbaijan Manuel Adalberto Carlos Montenegro Lopes da Cruz has said that trade turnover between Azerbaijan and Brazil for the six months of 2023 increased by 27 per cent compared to the same period in 2022.

The ambassador made these remarks at an event dedicated to Brazil's Independence Day, Trend reports.

“According to the official data, our bilateral trade in the first half of 2023 increased by 27 per cent compared to the same period in 2022, confirming the upward trend. Our bilateral trade volume more than doubled in 2021 compared to 2020. Brazil was the biggest importer of Azerbaijani fertilizers during that period,” he said.

He noted that the constant development of mutually beneficial partnership is one of the priority issues on the common agenda of Azerbaijan and Brazil.

The ambassador said that the issue of convening an intergovernmental working group on trade and investment to consider broad opportunities for bilateral economic cooperation is currently being discussed.

He added that Brazil is still among the ten biggest trading partners of Azerbaijan in Latin America.

The ambassador also noted that a bilateral agreement on cooperation in space science and technology is expected to be presented in October.