EU and Brazil move towards greater cooperation through strategic partnership
The EU has said it would like to develop a strategic partnership with Brazil because of the country's increasing economic clout and presence on the world stage - a move that could boost trade and investment in the Latin American country to the benefit of property investors.
Commissioners at the EU identified a number of sectors in which cooperation could be strengthened and talked of a "major interest" in deepening already strong ties between the two entities.
Manuel Barroso, president of the EU, explained that Brazil's strong historic ties with Europe and its increasing capability to address world problems would make it a strong candidate to join the EU's "restricted club" of strategic partners.
Ferrero Waldner, EU commissioner, remarked: "This strategic partnership will allow us to further develop our co-operation in key sectors such as energy, maritime transport and regional development, and to build new and long-lasting links between our people."
Brazil is the most important trade market in Latin America for European countries and this could be furthered by increased cooperation, the EU concluded.
Recently, Brazil has been praised by a number of economists for transforming its economy from a debt-ridden system marked by high inflation into a prosperous and sustainable economy with lower external debt.
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