Japan and Brazil sign mutual cooperation treatiesBy AP News Aug 02, 2014 12:15PM UTC
BRASILIA, Brazil (AP) — Japan has agreed to lend Brazil nearly $1 billion to be invested in offshore oil platforms and in the production of grains.
The loans were announced Friday at the end of a meeting between Japan’s Prime Minister Shinzo Abe and Brazilian President Dilma Rousseff.
Japan will lend $500 million for the construction of eight ship hulls for offshore oil platforms and $200 million for the production of soybeans and corn.
The two leaders also signed mutual cooperation treaties in the infrastructure, pharmaceutical, energy, mining and educational areas.
The two leaders discussed ways to increase bilateral trade which last year amounted to $15 billion.
Brazil is the last stop of Abe’s five-nation tour of Latin American and the Caribbean that also included Mexico, Trinidad and Tobago, Colombia, and Chile.