Singapore, Brazil agree to expand trade relations hinh anh 1Singaporean Prime Minister Lee Hsien Loong and Brazilian President Michel Temer before a bilateral meeting on the first day of the G-20 summit on November 30. (Photo: Straitstimes)

Buenos Aires (VNA) Singaporean Prime Minister Lee Hsien Loong and outgoing Brazilian President Michel Temer on December 1 pledged to continue strengthening cooperation and expanding bilateral trade ties.

During their meeting on the sidelines of the G20 Summit, which freshly wrapped up in Buenos Aires, Argentina, Temer informed about Brazil’s economic achievements over the past two years and said his country is preparing to welcome foreign investments through an investment partnership programme, including a number of private projects in the field of infrastructure.

For his part, the Singaporean leader said Brazil is an important trade partner and a main poultry meat exporter of Singapore. He voiced his support for the economic policy that Brasilia is implementing to help the Southeast African nation to escape from economic downturn and continue developing in the coming year.

G20 is a forum of the world’s 20 largest economies, including Argentina, Australia, Brazil, the UK, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, the Republic of Korea, Turkey, the US and the EU.

The group represents two thirds of the global population, creates 85 percent of the world’s gross domestic product (GDP), and accounts for 75 percent of international trade.-VNA