Dilma and Obama are expected to sign cooperation agreements on biofuels, among other items such as education and economic security. The US Embassy said that one of the priorities of the trip was to discuss energy cooperation and global finance. Brazil is becoming a net exporter of Petroleum due to a number of deep water oil finds off the coast of Rio and Espirito Santo states. Moreover, Brazil’s highly regulated banks were relatively immune from the 2008 financial blowout, casting a spotlight on the sector names like Itau Unibanco, Bradesco and the big Brazilian subsidiaryof Spanish bank Santander.
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After lunch, Obama and Dilma will participate in the VI US-Brazil CEO Forum happening in Brasilia on Saturday. There, Obama will meet with 10 Brazilian CEOs and 8 American CEOs. Company participants were not provided by the government at this time.
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The following officials are traveling with Obama.
Thomas Donilon, National Security Advisor
Timothy Geithner, US Treasury Secretary
Lisa Jackson, Environmental Protection Agency
Gary Locke, States’s Secretary of Commerce
Ron Kirk, Foreign Trade Representatitve
William Daley, White House Chief of Staff
Michael Froman, National Economic Council
Fred Hochberg, Pres, Export-Import Bank of the US