Dear Reader,

Greetings. India and Brazil are countries with many similarities. While India is an emerging global economic power, Brazil is on the threshold of becoming a developed nation. Both India and Brazil, along with South Africa are part of the three-nation IBSA forum that strives to promote trilateral trade. Together India and Brazil have initiated various other measures to promote bilateral trade. The India-Brazil Joint Commission, which met in April this year, reviewed the progress of bilateral trade and set up the stage for Brazilian President Luiz Inacio Lula da Silva's three-day visit to India from 3 to 5 June, 2007. The landmark visit resulted in the signing of crucial agreements between the two countries, covering vast areas, from production of oil and natural gas to sharing data from Indian Remote Sensing Satellites. The cover story of the current issue of Indo-LAC Business details President Lula's path-breaking visit to India. Banking is the lifeline of Latin American economic development. The Focus of the current issue is on banking in Latin America, the challenges and opportunities that it offers. The Export Import Bank of India, which has been playing the key role of a catalyst in promoting bilateral trade between this country and Latin America, has announced excellent results for fiscal 2006-07, the year of its Silver Jubilee. We carry the report. Since 1986, Exim Bank has been holding the Commencement Annual Day Lecture, inviting eminent personalities from diverse disciplines, to deliver it. This year, it was Prof. David Hulme, an authority on issues concerning eradication of poverty, who argues convincingly that India has a role in tackling global poverty. We carry the key excerpts of the thought-provoking lecture. India's foreign trade in 2006-07 kept its momentum, showing an impressive growth in both exports and imports. We report. A study by the Exim Bank shows that India's service sector continues to be the star performer on the export front. Another study by the Bank talks about the advantage that India has in exporting the traditional arts and crafts, thereby mitigating rural poverty. The Andean Development Corporation (CAF), is one of the most active financial institutions in the Latin American region. We carry CAF news that gives a broad picture of the institution's support for developmental activities across Latin America. In tourism, we have India's eastern state of West Bengal launching an aggressive promotional campaign to draw tourists in large numbers. The issue carries, as usual, all other regular features.
Wish you happy reading,

 

Satya Swaroop
Managing Editor
satya@newmediacomm.biz