Russia, Brazil set to expand bilateral trade — head of business council

ST. PETERSBURG, June 4. /TASS/. The results of bilateral meetings between Russia and Brazil in 2026 will contribute to the further expansion of trade between the two countries, Pavel Cardoso, President of the Brazil-Russia Business Council, told TASS.

He recalled that a meeting of the Russian-Brazilian intergovernmental commission on trade, economic, scientific, and technical cooperation took place at the end of May, following the February talks between Brazilian Vice President Geraldo Alckmin and Russian Prime Minister Mikhail Mishustin.

"That meeting yielded specific results in each of the priority areas of trade relations between the two countries. [Russia and Brazil] are two teams working to remove obstacles in regulatory, sanitary, customs, and financial matters, especially in areas that are perceived by the countries as promising and important for investment, but where certain barriers still exist," the representative of the Brazilian delegation said on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

During the discussions, the parties noted that "two countries with a combined GDP exceeding $5 trillion have a bilateral trade volume of only about $10-12 billion."

"This is still very little," the Brazilian official said. Based on these conclusions, the intergovernmental commission agreed to accelerate discussions on issues raised at the high-level meeting between Alckmin and Mishustin, the official concluded.

SPIEF is taking place on June 3-6. This year's main theme is "Pragmatic Dialogue: The Path to a Stable Future." The forum's program focuses on shaping a new model of global development amid the transformation of the world economy. The Roscongress Foundation is the organizer of the forum, with TASS serving as its general information partner.