Minister Antonio de Aguiar Patriota will make a working visit to Santiago on April 1, 2011, when he will hold a meeting with the Minister of External Relations of Chile, Alfredo Moreno.
On the occasion, they will hold the 2nd Meeting of the Bilateral Commission, a mechanism for annual consultations presided by the Foreign Ministers of both countries. Its main goal is to follow up on the high level bilateral political dialogue and foster cooperation initiatives in several areas.
Before the Bilateral Commission, preparatory meetings will be held on issues including cooperation on Antarctic, energy and agricultural affairs, in addition to the negotiation of an agreement on investments and the Brazilian willingness to join the “E-ELT” project for the largest ground-based observatory in the world, to be based in Chile. At the regional level, they will devote particular attention to the presence of both countries in Haiti and the coordination within UNASUR.
In 2010, Chile was the second largest market for Brazilian products in Latin America. Brazil, in turn, was Chile’s fourth main trading partner. Trade exchange reached US$ 8.3 billion, a 58% increase from 2009.
Brazilian investment in Chile, currently at US$ 2 billion, are on the rise, with a significant share of large Brazilian companies in sectors such as energy, mining, finances and civil construction. The estimated stock of Chilean investment in Brazil is US$ 10 billion, making the country the main destination of Chilean investments abroad for the second consecutive year.