U.S., Brazil set target to double bilateral trade in five years

WASHINGTON (Reuters) – The United States and Brazil aim to double bilateral trade in the next five years from around $100 billion currently, Todd Chapman, the U.S. ambassador to Brazil said on Tuesday.

Chapman told an event hosted by the U.S. Chamber of Commerce that new trade agreements signed by the two countries on Monday marked a substantive advance in trade ties, and would pave the way for expanding bilateral trade in coming years.

He said the United States and Brazil were also discussing ‘strategic level’ cooperation among their militaries and looking at practical ways to increase an exchange of technology.