Brazil, France ink infrastructure cooperation deal

Brazil's Planning Minister Dyogo Oliveira and French Economy and Finance Minister Michel Sapin signed an agreement to strengthen cooperation in infrastructure between the two countries and promote investment. The pact was forged Friday (Mar. 31). The first meeting between representatives from both nations on the joint efforts under the initiative is to be held in June.

“It's a deal that can contribute significantly to the development of infrastructure in Brazil, especially by means of a public-private partnership, which also includes concessions and permits overseas,” said the Brazilian minister.

The French minister said that the implementation of new infrastructure is key to the growth of the countries. “The world will only be capable of resuming solid growth if we have the conditions to strengthen our infrastructure. The exchanges that take place as part of the public-private partnership—the object of the deal we signed—will make it possible to find new financing methods to implement useful infrastructure in both countries.” Sapin is following his schedule of official visits in Brasília and should also fly to São Paulo and Minas Gerais states.

Sapin maintained that the commercial agreement between MERCOSUR and the European Union should be signed as soon as possible. “The accord between the European Union and MERCOSU is of great importance to us. There may be different interests at first. Brazil must be concerned with the future of its industry, and it is legitimate that Europe also worried about its agriculture, but there's no solution in isolationism,” he remarked.

Sapin said that, in today's global landscape, marked by the election of Donald Trump, the need for international dialog must be stressed. A deal between the European Union and MERCOSUR, he said, would be the best answer for those who promote isolationism.

Translated by Fabrício Ferreira