India's Minister of Commerce, Anand Sharma, invited Brazilian investment in the recently launched National Infrastructure and Manufacturing Special Economic Zone (SEZ) as well as in the food processing industries at a meeting with the Brazilian Minister of Development, Industry and Foreign Trade, Fernando Pimentel, in Brasilia on June 11.

Sharma met Pimentel in pursuance to the invitation extended to him by the Brazilian Foreign Minister for advancing the bilateral economic and commercial relations between the two countries.

After the meet, both sides have agreed that that the establishment of a Working Group in the Pharmaceuticals and Life Sciences would be a welcome step towards furthering the cooperation between India and Brazil in this area.

Brazil expressed keen interest in collaboration with India in joint production of essential drugs for fighting HIV Aids, malaria, etc.

During the recent state visit of Brazilian President Dilma Rousseff to India in March 2012, President herself had invited the Minister to visit Brazil to address the larger issue of making essential drugs available at affordable prices to our population.

Both sides stressed the importance of re-launching the India-Brazil CEOs Forum, a decision taken in the form of declaration at the Summit level in March 2012. They also agreed that the proposed meeting of the two Co-chairs of CEOs Forum would be a positive step in taking this initiative forward.

The cooperation in the plurilateral as well as multilateral context was also discussed during the Ministerial Dialogue and both sides expressed satisfaction at the increased level of our cooperation in this context.

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A Memorandum of Understanding between the Council of Scientific and Industrial Research (CSIR), through National Physical Laboratory (NPL) and the National Institute of Metrology (INMETRO), Brazil was also signed for scientific and technological cooperation in chemistry, physics, engineering measurement sciences, development of certified reference materials for thermo physics properties, nanometrology, and analysis of surface and thin films, biofuels, and biotechnology.

The purpose of this Memorandum is to provide a framework for the exchange of scientific and technological knowledge services and the enhancement of scientific and technical capabilities of the two sides in the areas of chemistry, physics, and engineering measurement sciences.