The Minister of State and Foreign Affairs of Portugal, Rui Machete, will visit Brazil between May 4 and 7, when he will attend scheduled events in Brasilia, Rio de Janeiro and São Paulo. This is the first visit of Minister Machete to Brazil since he took office in July 2013.
In Brasilia, on May 4th, the Portuguese Foreign Minister will hold work meetings with the Minister of Foreign Affairs, Ambassador Mauro Vieira. On the occasion, they will address topics on the bilateral agenda, particularly those related to trade, investments and cooperation in science, technology and innovation. Subjects regarding the Community of Portuguese Language Speaking Countries (CPLP) and multilateral themes will also be discussed.
Portugal is one of Brazil's major partners in terms of investments, with some 600 Portuguese companies operating in the country. Brazilian investments in Portugal are also significant: between January and July of 2014, they summed to nearly US$ 4 billion, exceeding Brazilian total direct investments in that European country in the four previous years. That amount ranks Brazil as the biggest foreign investor in Portugal. According to the Brazilian Central Bank, Portugal was the second main destination of Brazilian direct foreign investments in 2014.
Also in 2014, trade between the two countries amounted to US$ 2.15 billion.