Both countries expand their collaborations in the field of infrastructure.
France and Brazil have signed an agreement to nourish their cooperation in the field of infrastructure. The document was signed on March 31st, in the Brazilian capital, Brasilia, during a visit by the French Minister of Economy and Finance, Michel Sapin.
According to the minister, the agreement will allow for a fruitful exchange of information regarding infrastructure, financing and the management of public private partnerships. He shared the information during the press event where the agreement was signed, with Minister of Planning Dyogo de Oliveira, signing on behalf of Brazil.
“There is a true appetite for French companies to invest in Brazil. This agreement will allow us to strengthen our cooperation,” added Mr Sapin, who concludeda three day South America trip in Brazil. From Brasilia, he traveled to the states of Sao Paulo and Minas Gerais, in the Southeastern region on the country.
Down the years, the nations have had many partnerships in various fields, including on economic matters. Brazil is France’s largest economic partner in South America, with more than 500 French companies operating in its territory, employing more than 250,000 workers.
A rundown of the recent bilateral developments:
In 2012, Brazil’s Ministry of Development of Industry and Commerce and France’s ministries of Industry and Higher Education signed a document to foster a partnership between both countries, aiming to develop units of solar energy.
On November 26th, 2016, representatives of Brazil’s National Confederation of Industry and of the Movement for the Enterprises of France gathered in Paris for the Economic Forum Brazil-France, where business leaders of both countries met up to nourish partnerships.
On December 21st, 2016, the Brazilian state-owned oil company Petrobras and France’s Total signed an agreement estimated in $2.2 billion dollars. The cooperation transferred the right to explore certain oil fields in Brazil to Total, as both companies collaborate in the development of new technologies for oil mining and geological research.
Additionally, on March 6th, 2017, the French automaker Renault revealed that it aims to keep investing in Brazil, with an emphasis on the SUV (Sports Utility Vehicle) segment, as the company foresees a recovery of the Brazilian economy.
As Brazil continues to recover from its economic and political turmoil, a partnership with France is one of the bets the country places to stimulate its economy and leave its monetary crisis in the past.