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. Last Updated: 07/27/2016

Brazil President Hopes Visit Boosts Trade Ties

Brazilian President Fernando Henrique Cardoso arrived Sunday in Moscow for a four-day official visit that both nations hope will boost trade ties and foster a new strategic partnership.

"Stability in Europe and Asia is dependent on Russia to a big degree," Cardoso was quoted as saying in an interview with Itar-Tass. "Brazil, a country that plays a strategic role in South America, believes it is essential to maintain a partnership with a global power like Russia."

Cardoso was scheduled to meet with President Vladimir Putin on Monday. The two leaders were expected to sign an extradition treaty and a joint declaration on cultural, educational and sports exchanges, according to Interfax.

Cardoso and Putin were also expected to discuss the global fight against terrorism, the situation in the Middle East, international financial systems and the financial crisis in Argentina.

While Brazil's economy and financial markets have been little affected by the social and economic woes of its southern neighbor in recent weeks, Cardoso has still taken a lead in lobbying for support for Argentina.

The Brazilian delegation also planned to meet with Russian business leaders to discuss ways to take advantage of a major increase in trade between Brazil and Russia.

Last year, trade between the two nations jumped 50 percent above the previous year to $1.5 billion, according to the Economic Development and Trade Ministry .

Russia primarily exports raw materials and semifinished products to Brazil. Brazilian imports to Russia include raw sugar, coffee and tobacco. The two nations may explore new links in the military-technology sector and in the aerospace industry, according to Russian news agencies.

While in Moscow, Cardoso also planned to open an exhibit celebrating the link between Russia's famous Bolshoi Theater and Brazil. The Russian theater opened its first and only ballet school abroad in the Brazilian city of Joinville in the spring of 2000.

Cardoso is expected to leave Moscow for the Ukrainian capital, Kiev, on Wednesday.