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The US and Brazil signed on Saturday a trade and economic cooperation agreement to boost commerce, coinciding with President Barack Obama's visit to the largest Latin American nation.
The accord creates a US-Brazil commission to expand bilateral trade between the two countries and remove non-tariff obstacles, according to a statement from the US Trade Representative (USTR) Ron Kirk's office.
The commission will be co-chaired by the USTR and officials from the Brazilian ministries of foreign affairs and of trade, industry and development.
President Obama, appearing with Brazilian President Dilma Rousseff in Brasilia on Saturday said Brazil is becoming a global economic leader and the two governments have an "historic opportunity" to deepen cooperation, international press reported.