Cecília Jorge
Reporter Agência Brasil

Brasília – The joint declaration by the presidents of Austria, Heinz Fischer, and Brazil, Luiz Inácio Lula da Silva, which was released yesterday following talks during the first ever visit to South America by an Austrian head of state, emphasized the enormous potential the two countries have.

"We intend to explore areas of interest... There is a lot of room for expanded cooperation and commerce between our two countries," said the document.

Fischer pointed out that bilateral trade reached US$300 million in 2004, with Brazil exporting mostly machinery, vehicles and pharmaceutical products. He added that he hopes an agreement between Mercosur and the EU can be reached by May of 2006, when Austria will be the president of the European block and a European-Latin American/Caribbean summit is scheduled.

Lula said he was pleased with Austria's interest in closer ties, something that takes on added significance in light of the fact that that country will occupy the rotating presidency of the EU at the beginning of next year.

Fischer and a delegation of Austrian businessmen and investors will participate in a Brazil-Austria Business Forum in São Paulo today.

Translator: Allen Bennett