Brazil has started negotiations with Russia on acquisition of Pantsir-S1 air defense systems. The corresponding agreement was reached in the presence of Russian prime-minister, Dmitry Medvedev, and Brazilian vice-president, Michel Temer. The major round of negotiations will be started in March, Vzglyad.ru reports with reference to Defense News.

Brazil is interested in development of its own defense industry that is why the Brazilian party intends to come to an agreement with Russia on co-development of new weapons and participation of strategic Brazilian companies in the manufacturing processes with a complete transfer of technologies.

Ministry of Defense of Brazil is interested in purchasing three Pantsir-S1 air defense systems, air defense missile batteries and two man-portable air defense systems.

As previously reported, Dmitry Medvedev said that Russia is ready to cooperate with Brazil in all the areas including military-technical cooperation.

Dmitry Medvedev confirmed that the possibilities in the area of military-technical cooperation were discussed on Wednesday with the president of Brazil, Dilma Rousseff, and the vice-president, Michel Temer. The premier noted that Russia “is ready to transfer some technologies, but this process should be mutually profitable».

«There is no point in giving the technologies away and losing money. If this refers to joint ventures useful for both Russia and Brazil and if we would earn profit, then that scenario is acceptable», – Russian prime-minister said.