SAINT PETERSBURG, June 5. /TASS/. Brazil hopes to reach $12 bln in trade turnover with Russia, Ambassador of Brazil in Moscow Rodrigo de Lima Baena Soares said at the Russia-Brazil session within the framework of the St. Petersburg International Economic Forum (SPIEF).

"Speaking about our bilateral trade, we have a very positive relationship and results. Our trade relationship is stronger than ever, it has crossed the $11 bln mark. Starting from 2024, we have also set a new record and thanks to it we hope to cross the $12 bln mark this year," he said.

The diplomat also noted that there is positive dynamics in the development of Russia-Brazil relations and effective mutual investments.

In turn, Russia’s Deputy Economic Development Minister Vladimir Ilyichev called on Brazilian partners to increase exports to Russia. "Economic cooperation is developing quite successfully. Unfortunately, we face the fact that Brazilian supplies to us are not growing. We discussed this with our Brazilian colleagues during a recent meeting of the intergovernmental commission in Moscow. We persistently recommended to our Brazilian colleagues to pay attention to this. We are ready to help even in expanding our supplies to Russia, and we are interested not only in some traditional goods that are present in Brazilian exports to us, but also in more high-tech goods. So far, we see that Brazilian supplies are shrinking instead of growing," he said.

The St. Petersburg International Economic Forum (SPIEF) is held on June 5-8. This year’s theme will be "The Formation of New Areas of Growth as the Cornerstone of a Multipolar World." Scheduled events include meetings for small and medium-sized businesses, creative industries, the SPIEF Youth Day, as well as the Drug Security, SPIEF Academy and SPIEF Junior forums. SPIEF is organized by the Roscongress Foundation. TASS is the information partner of the event.