On April 24, 2023, Brazil and Portugal signed an economic cooperation agreement that covers topics such as economic cooperation in the markets of the countries of the Community of Portuguese Speaking Countries (Comunidade de Países de Língua Portuguesa, CPLP), development and internationalization of startups, and promotion of small and medium-sized companies.
The memorandum was signed by the Brazilian Export Promotion Agency (Agência Brasileira de Promoção de Exportações do Brasil, Apex-Brasil) and by the Portuguese Agency for Investment and Foreign Trade (Agência para o Investimento e Comércio Externo de Portugal, Aicep). According to the Brazilian government, the agreement aims to promote cooperation based on the principles of benefit, equality, and mutual respect for full sovereignty in accordance with current laws and regulations.
The memorandum mentions three priority cooperation fronts: actions to promote the development and internationalization of startups identified by both countries as having high growth potential and a strong technological foundation and as being supportable by investment programs and funds; actions to increase economic and commercial cooperation through institutional coordination in the markets of the countries of the CPLP through the sharing of information, good practices, training, and the creation of measures that increase competitiveness and economic security for companies and entrepreneurs in both countries; and actions for the promotion and development of businesses between small and medium-sized companies in both countries.
Eduardo Soares, Law Library of Congress
May 25, 2023
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