President Michel Temer will attend the swearing-in of Chile's President-elect, Sebastián Piñera, to take place in Valparaiso, on March 11. The President will be accompanied by minister Aloysio Nunes Ferreira.
Brazil is the main destination for Chilean investments, with a stock of 31 billion dollars, and its biggest trading partner in South America. Chile is Brazil's second largest trading partner in the region, with bilateral trade totaling 8.5 billion dollars in 2017. The two countries signed an Investment Cooperation and Facilitation Agreement in 2015, and are currently negotiating agreements on government procurement and financial services.
Brazil and Chile have shared fundamental values such as the promotion of democracy and the protection of human rights. The two countries are also engaged in the process of rapprochement between Mercosur and the Pacific Alliance.