EU, Brazil to hold high level Summit in Brasilia

José Manuel Barroso, President of the EC, and Herman van Rompuy, President of the European Council, participated in the 5th EU/Brazil Summit with Dilma Rousseff, President of Brazil, readying for a cordial hand shake (from right to left). (EC Audiovisual Services).

José Manuel Barroso, President of the EC, and Herman van Rompuy, President of the European Council, participated in the 5th EU/Brazil Summit with Dilma Rousseff, President of Brazil, readying for a cordial hand shake (from right to left). (EC Audiovisual Services).

The European Union and Brazil are holding a bilateral Summit in Brasilia on 24 January. Already from 2007 the EU and the largest South American country have established a strategic partnership in recognition of both sides’ political and economic importance.

According to a Commission Press release, bilateral Summits are held annually and focus on key global challenges such as the maintenance of peace and security, climate change, developments in the international economy as well as the analysis of the respective regional situations. Five summits have been held so far.

In this context, the two sides will meet again at the highest level on the occasion of the 6th EU-Brazil Summit, which will be held in Brasilia on 24 January 2013. The two sides to underpin their strategic partnership have already adopted a second three-year (2012-2014) EU-Brazil joint action plan. It identified five priority areas for cooperation: peace and security through an effective multilateral system; sustainable development; regional cooperation; science, technology and innovation; people-to-people contacts and cultural exchanges.

Trade

One of the most important facets of this bilateral cooperation is trade. In spite of the crisis, trade flows between the EU and Brazil have been increasing in both directions. The EU remains Brazil’s main trading partner, accounting for 22.2% of the country’s total trade in 2010. Conversely, Brazil is the EU’s eighth (very similar level to South Korea and India) trading partner and made up around 2% of the EU’s total trade.

In the first nine months of 2012, EU exports in goods to Brazil increased compared to the same period in 2011. At the same time, imports fell, leading to a small surplus for the EU. Since 2000, the EU had always had deficits in trade in goods with Brazil. The EU is the destination number one of Brazil’s exports and imports. More than 21% of Brazil’s exports go to the EU. The EU continued to import primarily raw materials, food and drink: 70% of imports consisted of products such as soy beans, oilcake, iron ore, coffee or crude oil.

In 2011, trade in both goods and services between the EU and Brazil grew strongly. In the goods sector, EU exports to Brazil were worth € 35.7 billion, while imports grew by 17% to reach € 38.9 billion. Over 85% of EU exports to Brazil consisted of manufactured goods, such as machinery, vehicles and chemicals. At the same time, the EU exported € 11.5 billion worth of services, while the imports of services totalled € 7.1 billion.

Investments

It’s not only trade however that binds the two sides. The EU is also the biggest foreign investor in Brazil, with more than 40% of the total stock of Foreign Direct Investment (FDI) in the country: € 238 billion in 2011, more than double the EU FDI stocks in China. In 2011, EU FDI flows to Brazil totalled € 27.5 billion, while Brazilian FDI flows to the EU accounted for € 3.0 billion.

Political relations

Around 30 political dialogues have been established so far in a wide range of policy areas, including human rights, energy, climate change, environment, information society, regional development, science and technology, social policy, culture, education, air transport, economic affairs, financial services, tourism and agriculture.

A horizontal and an air safety agreement were signed at the summit in July 2010. A comprehensive air transport agreement (open-skies agreement) was initialed in March 2011, but has not yet been signed by both of the parties. The agreement would open markets, create new investment opportunities as well as improve the commercial and operational environment for carriers.

Two short-stay visa waiver agreements were signed in October 2010. The agreement for diplomatic passport holders entered into force on 1 April 2011 whereas the one for ordinary passport holders entered into force on 7 October 2012.

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

The sad show of Brexit

FROM THE FIELD: Powering up health care in Sub-Saharan Africa

These countries have the most doctors and nurses

EU’s Finance Ministers draft plan to raise tax bills of online giants like Google and Amazon

Youth Guarantee putting young people in jobs

The first-ever climate telethon has raised $2.6 million for new forests

These airports are now opening their doors to non-fliers

Global Citizen – Volunteer Internships

European Youth Forum and youngest MEPs call on President Juncker to keep his promise to Europe’s youth

Reducing deforestation means getting serious about environmental crime

European Parliament approves more transparency and efficiency in its internal rules

Mergers: Commission approves acquisition of Raytheon by UTC, subject to conditions

Climate changes and the imminent public health crises

European Commission determined to conclude EU-Mercosur trade deal this year despite French concerns

EU to manage external borders against the will of member states; Greece to be the first target

Novartis and Johnson & Johnson to deprive Europeans of their right to Health

UN chief condemns air strike that hit school bus in northern Yemen, killing scores of children

Brexit Update: EU endorses unprecedented compromise to help Cameron out of the referendum mess he got himself into

Global climate change: consequences for human health in Brazilian cities

Protection of workers from biological agents: how to classify COVID-19

UN expert condemns new sentence for jailed Venezuelan judge as ‘another instance of reprisal’

UN condemns deadly simultaneous terrorist attacks on military camps in Mali

EU Summit: Why was Poland isolated in opposing Tusk and the ‘multi speed’ Europe

India is building a high-tech sustainable city from scratch

EU announces record €550 million contribution to save 16 million lives from AIDS, tuberculosis and malaria

Intel @ MWC14: Our Love Story with Mobile – Transforming Wireless Networks

He died so I could live: UN peacekeeper pays tribute to fallen colleague

Central American migrants must be protected, urge UN experts

Lorenzo Natali Media Prize 2019: winners of EU’s development journalism award unveiled

Security Council beats midnight deadline, renews Syria cross-border aid in contentious vote

European Commission welcomes the positive assessment about how it has managed the EU budget

Trump systematically upsets global order and trade: Where does this end?

EU Summit/Migration: Parliament calls for joint solutions based on solidarity

European Banking Union: Like the issue of a Eurobond?

Data Protection Regulation one year on: 73% of Europeans have heard of at least one of their rights

Piracy and high seas crime growing, becoming more sophisticated, UN Security Council told

Fair minimum wages: Commission launches second-stage consultation of social partners

Concorde is a reminder that the only way for innovation is up

5 neuroscience hacks that will make you happier

WHO study reveals ‘game-changer’ drug with potential to save thousands of women’s lives in childbirth

Crop yields are up in Syria, but higher prices still cause major strain: new UN report

Education should be like everything else. An on-demand service

Inspiring medical students to choose primary health care

DR Congo: efforts to control Ebola epidemic continue, UN food relief agency doubles assistance to affected people

Canada has the most comprehensive and elaborate migration system, but some challenges remain

How AI can accelerate the search for treatments for emerging and intractable diseases

Future EU-UK relations: EU is offering ‘cooperation of an unprecedented nature’

Deep chasm still divides Athens and Brussels; can Eurozone use the nuclear arm of liquidity against Greece?

Ocean Conference has potential to be a ‘global game-changer’

4 ways to become a ‘business baobab’ on the African economic landscape

Can we create an empathic alternative to the capitalist system?

Migration and the climate crisis: the UN’s search for solutions

The big five EU telecom operators in dire straights

Migration crisis update: The “Habsburg Empire” comes back to life while EU loses control

ECB: Monetary policy decisions

De-escalation of fighting in Hodeida is key to ‘long-overdue’ restart of Yemen peace talks: UN envoy

These are the world’s most future-proof cities

This is what a planet-wide network of ocean sanctuaries could look like

EU Elections: new rules to prevent breaches of data used to influence elections

The shrinking Arctic ice protects us all. It’s time to act

More Stings?

Advertising

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s