MIAMI – On Sunday, the governments of Brazil and the U.S. signed an agreement to develop defence projects to give Brazil access to financing.
According to the agreement, this is a partnership for the development of defence technology by private companies which will use public financing from the two countries.
Companies can request for funding from the U.S. defence research fund.
The defence industry in Brazil has over 220 companies and is exported globally to 85 countries.
Even though Brazilian President Jair Bolsonaro is inclined towards closer cooperation between Brazil and the U.S. for defence and intelligence matters, the South American country’s decisions on 5G technology pose a potential hurdle.
China’s Huawei is a big equipment supplier to Brazil’s telecom sector and this may prevent strong cooperation between the two countries.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.