Temer meets with Prime Minister of Spain

President Michel Temer today (April 24) met with the Prime Minister of Spain, Mariano Rajoy, in what has been the first visit of a Spanish head of government to Brazil in nine years.

After a closed-door meeting, Temer and Rajoy had an extended meeting with ministers from both countries and Spanish business leaders. The topics of discussion included bilateral cooperation and Mercosur's negotiations with the European Union.

The two country leaders are expected to sign memoranda of understanding for cooperation in water resources, economic and business cooperation, infrastructure, and transport, as well as a cooperation agreement between the diplomacy schools of the two countries.

The water deal covers such areas as the revitalization of the São Francisco river basin and the sharing of experiences in natural resource conservancy led by Itaipu, a Brazilian-Paraguayan hydropower dam.

The infrastructure and transport agreement includes cooperation on road building quality control, road transport management, railway system technologies, and regulatory upgrade to streamline the port and air transport industries.

A joint statement on development cooperation will further the bilateral collaboration between Brazil and Spain in such areas as renewable energy, racial equality, and improve the living standards of vulnerable families living in semi-arid regions.

With investments increasing each year, Brazil and Spain are key trade partners. In 2016, the trade between the two countries totaled $5.2 billion.

In the first three months of this year, Spain injected $819.4 million into the Brazilian economy by buying mineral and vegetable commodities, chiefly soybeans. Brazil, in turn, imported $639 billion worth of Spanish products, most notably in petrochemicals.

Translated by Mayra Borges