The Canadian government announced the signing of a scientific agreement with Brazil, which will promote the creation of common research and development projects, including the aerospace sector.

This agreement will make it possible for Canada to "close essential alliances and associations in commercial terms", stated Canada’s Minister for International Trade, Stockwell Day, who signed a memorandum of understanding with the Minister of Science and Technology of Brazil, Sérgio Machado Rezende.

The two countries collaborated, as of now, in an “expanded” way in the sectors of aerospace, agriculture, biotechnology, nanotechnology, pharmaceutics, and in the sector related to renewable energies, revealed the same source.

The Canadian government shall disburse 1.5 million Canadian dollars (1.2 million US dollars) over the next two years to finance projects promoted jointly by Brazilian and Canadian institutions, said Day.

In 2007, trade exchange between Brazil and Canada reached 4.9 billion dollars (4.010 billion US dollars).

Source: Yahoo