The Deputy Minister of Foreign Affairs of the Italian Republic, Marina Sereni, visited Brazil on December 10 and was hosted by the acting Minister of State for Foreign Affairs, Ambassador Otávio Brandelli.
The parties stressed the historical and cultural ties of both countries, consolidated by the strong presence of Italians and descendants in Brazil and of Brazilians in Italy.
Both agreed to update the bilateral Strategic Partnership Action Plan, which will have been in force for 10 years by 2020, and to resume regular dialogue in established fora.
Brazil and Italy have undertaken to work towards the conclusion and implementation of the Association Agreement between MERCOSUR and the European Union, an essential initiative to create new business and investment opportunities for the benefit of European companies and MERCOSUR countries.
Italy is one of the largest investors in Brazil. There are more than one thousand Italian companies established in Brazil, which create about 150 thousand direct jobs. It is also one of Brazil's largest trading partners among the members of the European Union: it ranked 10th as the destination of Brazilian exports and 9th as the origin of Brazilian imports from that region.