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Russia and Brazil have finally started to cooperate in the high-tech, space, energy and military sectors after years of false starts.

When President Dmitry Medvedev visited Rio de Janeiro in November, Brazilian President Luis Inacio Lula da Silva hosted the Russian delegation in what was called “a new strategic partnership between the two countries.” Medvedev affirmed that both nations would achieve more in the next two or three years of this partnership than what was obtained in almost 200 years of diplomatic relationship combined.

As a first step, the Brazilian air force bought 12 Russian Mi-35M attack helicopters. Brazil is getting a guarantee of technology transfer and personnel training, while Russia is getting its feet wet in a large arms market.

Second, Brazil and Russia will work together on developing the next generation of satellite launchers using shared technology. In addition, the space agencies in both countries signed an agreement for the use and development of Glonass, the Russian satellite global navigation system. Up until now, most nations in Latin America, including Brazil, have preferred to use the GPS system, which is based on U.S. technology.

In the tourism sector, visa requirements for both countries will be abolished for stays of up to 90 days, an old complaint of businessmen and tourists of both sides.

In economic terms, Brazil is Russia’s main trade partner in Latin America. Bilateral trade grew to $7.3 billion between January and October of 2008, a significant increase from the previous year. The Brazilian president remarked, however, that trade between them must include more value-added products as a means to benefit both countries’ industrial sectors. Russia is the biggest external market for Brazilian meat products, for instance, and Moscow lately has been investing in diversifying local chicken broiler production as an attempt to reduce external dependence on U.S. imports.

Gazprom and Russia’s other leading energy companies are looking eagerly at Brazil’s energy sector, particularly after the discovery in 2008 of new giant fields of oil and gas in the Brazilian subsalt offshore basin. Gazprom seeks participation in the Brazilian market, and Petrobras, the Brazilian national oil and gas company, seeks cooperation from Russia in the area of gas transportation and pipelines.

Gazprom plans to open a representation office in Rio de Janeiro in the upcoming months. Gazprom deputy chairman, Alexander Medvedev, who was included in the Russian delegation in  meetings in Rio in November, said cooperation with Petrobras on new oil and gas bearing fields was among the company’s most important priorities. The Brazilian oil giant agreed that “it intends to intensify the relationship with Gazprom in Brazil and in other countries.”

Now, it is only a matter of time to see whether Russian ballet can do well under the tropical sun and whether Brazilian samba can perform equally well in Russia’s harsh winter. Interestingly enough, Brazil is the only country on the planet to have a Bolshoi Ballet School under the direct supervision of its Moscow headquarters. Perhaps it is time to open a Carnaval season in Moscow in 2010.

Bernardo Arnaud is CEO of Lentia Trading in Rio de Janeiro. Richard Lourie is on vacation.