:: Info for Indian Exporters :: Bilateral Agreements ::

Bilateral Agreements/MOUs in the area of Trade
signed between India and Brazil

JOINT DECLARATION ON TERMS OF REFERENCE FOR
THE INDO-BRAZILIAN COMMERCIAL COUNCIL

WHERE AS, the further strengthening and development of trade, investment and commercial ties between India and Brazil businesses are shared objectives;

RECOGNISING that an increase in mutual understanding and shared experiences will greatly assist in the growth of the bilateral relationship between India and Brazil businesses;

RECOGNISING that the India and Brazil are actively encouraging and working to assist their respective businesses to develop closer commercial relations that will stipulate growth and increase trade and investment between the two countries;

NOTING that this development and cooperation will be best enhanced through an organized effort of the two governments by encouraging their businesses;

IT IS RESOLVED that INDO-BRAZILIAN COMMERCIAL COUNCIL (IBCC) is hereby formed and organized pursuant to the Terms of Reference set forth below.

TERMS OF REFERENCE

These terms of reference are intended to provide a general framework to guide cooperation between the Indian Ministry of Commerce and Brazilian Ministry of Foreign Relations and the respective businesses in the two countries.

STRUCTURE AND ORGANISATION OF IBCC

1. IBCC is a cooperative forum designed to facilitate further development of trade, investment and commercial relations between Indian and Brazilian businesses.
2. The Council will be made up of Representatives of Government, APEX Business Chambers, Trade Bodies and Private Sector representatives to be nominated by the Indian Minister of Commerce and Brazilian Minister of Foreign Relations.
3. It is envisaged that the Council will have a balanced number of representatives from the India and Brazil. There will be two Co-Chairmen, one from each side. The Commerce Secretary shall be the Co-Chairman from the Indian side and the Secretary General for External relations shall be Co-Chairman from the Brazilian side. Wherever possible the Meeting of the Council will be addressed by Indian Minister of Commerce and the Brazilian Minister of Foreign Relations.
4. One Apex Business Chamber of both India and Brazil shall be designated for providing secretarial support to the IBCC.
5. The structure and composition of the Council should focus on the business sectors of India and Brazil, including the needs of small and medium sized enterprises.
6. The Council may invite representatives from appropriate Government agencies, Ministries, Apex Business Chambers, Trade Bodies or Private Sector Companies to participate in the Council meetings.

ACTIVITIES OF THE COUNCIL

The IBCC shall conduct following activities to further develop and strengthen trade, commercial and investment ties between Indian and Brazilian businesses:

1. To identify both specific and general opportunities for bilateral trade and investment.
2. To agree, if required, appropriate ways of promoting those opportunities in both countries.
3. To encourage the private and the public sectors of both countries to discuss commercial cooperation in specific sectors.
4. To promote trade missions, conferences, exhibitions, seminars, joint ventures and other events between Indian and Brazilian enterprises.
5. To identify obstacles to the development of bilateral trade and investment and to explore ways of facilitating them.
6. To develop sector-wise data base for identifying commercial opportunities and providing for its dissemination.
7. To establish data base linkages through computer networking.

OPERATIONAL PROVISIONS

1. The Council shall meet annually and meetings shall be held alternatively in Brazil and India.
2. An agenda will be agreed by both sides before each meeting and discussions will take place at the inaugural meeting in the joint plenary session. The Council meetings will usually include opening and closing plenary sessions.
3. The inaugural meeting of the Council may consider whether detailed discussions on some areas/fields should be delegated to the Working Groups and these Working Groups can be constituted by the Council. The continuance of the Working Groups or formation of new Working Groups will be decided in the subsequent Council meeting.
4. Both international and domestic travel costs of civil servants and government representatives attending the Council meetings, Working Groups meetings or any other event, will be paid by their respective Governments.
5. The representatives of Apex Business Chambers, Trade Bodies and private sector representatives are required to cover all of their expenses associated with participation in the Council meetings. Working Group meetings , functions or events will serve the Council without compensation. While extending full support to the work and goals of the IBCC, neither government is obliged or required to provide any funding for such participation.
6. After each meeting the Council will draw a record of the discussions which will be agreed upon within 8 weeks of the Council meeting. It will also draw out a practical and realistic action list which should be agreed at the end of each meeting of the Council. Between the meetings of the Council, both sides will maintain a regular contact with a view to establish a constant exchange of information and to ensure that action points are put into effect.
7. The structure and future of the Council will be reviewed jointly by both governments after two meetings.

DONE AT NEW DELHI on the 27^th January, 1996 in six originals, two each in Hindi, Portuguese and English languages, all texts being equally authentic, except in case of doubt when the English text shall prevail.