Brazil, said Vice President Joe Biden on a recent visit there, has long since taken its place as one of the world's great democratic economic powers. It now has the seventh largest economy in the world. Forty million people have risen from poverty to the middle class, which is now 100 million strong. Brazil is demonstrating that vibrant, responsive democracy is fully consistent with socially inclusive economic growth.
The United States and Brazil already have a thriving relationship on many fronts, including trade. Commerce between the two countries now exceeds $100 billion a year. There's every reason to expect that number to continue growing. Our trade and commercial partnerships in bio-fuels, renewable energy and unconventional fuels are equally important for promoting sustainable growth, innovation and job creation in both countries
The best days of partnership between Brazil and the United States are yet to come.
Energy is an area of potential greater cooperation between the United States and Brazil. Brazil is a world leader in biofuels and renewable energy. The United States has much expertise in deepwater extraction and unconventional fuels and petrochemicals. Each country – and the region’s energy future -- stands to gain from sharing its respective knowledge.
Together the United States and Brazil are also in a position to work collaboratively to support humanitarian solutions, as well as global development. Indeed, Brazil is now a leader in global development. It has written off $900 million of African debt, and contributed joint projects to fight hunger and poverty in Ghana and Mozambique.
Both countries have decided to increase people-to-people ties to build trust and understanding. President Barack Obama's “100,000 Strong in the Americas” initiative will bring 100,000 students from the Latin America and the Caribbean to the United States to study and send an equal number throughout the region. Brazil's "Scientific Mobility Program" complements that goal, and has already sent 5,000 Brazilian students to study in the United States.
The best days of partnership between Brazil and the United States are yet to come, said Vice President Biden. "I'm absolutely confident together we can seize this moment and take some of the tough decisions on the economy, energy, global affairs."