PM strengthens economic ties with Brazil

Agreements to facilitate trade, tourism and investment

Brasília, Brazil
8 August 2011

Prime Minister Stephen Harper, with Brazilian President Dilma Rousseff, today witnessed the signing of a bilateral Air Transport Agreement and a Social Security Agreement. The two leaders further committed to work together on common areas of interest with a Memoranda of Understanding on Olympic Games Cooperation and on International Development Aid Effectiveness.

“Brazil is a major global economic player and a key priority market for Canada,” said Prime Minister Harper.  “These agreements will benefit both countries by promoting greater two-way flow of people, goods and services, enhancing our competitiveness and further strengthening our partnership in key areas of shared interest.” 

The Air Transport Agreement is expected to benefit Canadian travellers and businesses in various sectors, including the tourism industry, by providing them with greater choices in airline services, destinations as well as lower prices.  Both countries have agreed to make the new air rights available to airlines immediately, pending the formal ratification of the agreement. 

The Prime Minister witnessed the signing of three additional agreements: 

  • The Agreement on Social Security between Canada and Brazil will bring immediate benefits to Canadians and Brazilians by coordinating pension benefits between both countries.  It includes a number of key measures that will improve access to benefits for Canadians and result in savings for Canadian companies operating in Brazil. 
  • The Memorandum of Understanding on Olympic Games Cooperation with Brazil will involve sharing Canada’s recent experience in hosting and organizing the 2010 Winter Olympic and Paralympic Games.  Brazil will host the Summer Olympic and Paralympic Games in 2016 in Rio de Janeiro.  
  • The Memorandum of Understanding on International Development Cooperation Effectiveness with Brazil advances the partnership between both countries on providing tangible and measurable development assistance to nations in need.

Brazil is a major economic player, not just in South America, but also globally as our 10th largest trading partner. Brazil is Canada’s largest merchandise trading partner in the Latin America and Caribbean region (excluding Mexico), and Canada-Brazil commercial relations are growing across the board.

Prime Minister Harper, along with President Rousseff, also took the opportunity today to announce the Canada-Brazil Strategic Partnership Dialogue, a new initiative that will serve as a forum between Canadian and Brazilian Ministers of Foreign Affairs. The Dialogue will ensure both countries deepen relations and develop new partnerships on key bilateral, regional and global issues.