US, Brazil sign memorandum on biofuel importance
Mar 13, 2007 2:53 PM
Secretary of State Condoleezza Rice and Brazilian Foreign Minister Celso Amorim have signed a memorandum of understanding to advance cooperation on biofuels that highlights the importance of biofuels as a transformative force in the region, according to State Department information.
The goal is to diversify energy supplies, bolster economic prosperity, advance sustainable development, and protect the environment. As the world's two largest producers of ethanol, the United States and Brazil intend to advance the research and development of new technologies to promote biofuels use. Reducing the cost of biofuels production, land use demands, and price pressures on feedstocks, are key to increasing global adoption of biofuels, the countries agree.
The United States and Brazil already are working through existing mechanisms such as the U.S.-Brazil Commercial Dialogue launched in 2006, the US-Brazil Consultative Committee on Agriculture established in 2003, the 1999 US-Brazil Memorandum of Understanding on Energy, the US-Brazil Common Agenda for the Environment established in 1995, and the US 1984 Framework Agreement on Science and Technology.
Regionally, the two nations intend to help third countries, beginning in Central America and the Caribbean, to stimulate private investment for local production and consumption of biofuels. The United States and Brazil expect to support feasibility studies and technical assistance in partnership with the Inter-American Development Bank, the United Nations Foundation, and the Organization of the American States.
Multilaterally, the United States and Brazil intend to work through the International Biofuels Forum to examine development of common biofuels standards and codes to facilitate commoditization of biofuels. Greater cooperation with Brazil is complementary to existing United States efforts in the Global Bio-Energy Partnership endorsed by the Group of Eight and the Asia-Pacific Economic Cooperation forum's Biofuels Task Force, the State Department said.
Bilateral cooperation on research, promotion of greater biofuels use in the region, and discussion of biofuels standards and codes advance energy security, reduce dependency on fossil fuels, lower greenhouse gases, and foster prosperity. Working together with Brazil to encourage greater adoption of biofuels has the potential to spur renewable energy investment, facilitate technology transfer, stimulate rural development, and boost job creation in countries around the world. The initiative does not include discussion of United States trade, tariffs, or quotas.
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