RIO DE JANEIRO: US President Barack Obama will address Brazilian people in a speech Sunday hailing the country's global prominence and the importance of bilateral trade.
In the speech, which will be delivered at Rio de Janeiro's Municipal Theater, "the president will discuss the deeply held values and interests that bind our countries together," the White House said in a statement.
"This relationship is particularly important because of Brazil's role as a rapidly emerging power on the global stage," the statement noted.
Obama, who hopes to further cement economic ties and drum up business for US firms, noted Saturday Brazil's "extraordinary rise" to global power and said the United States wants to become one of Brazil's "best customers" when it starts selling oil.
But the first day of what is expected to be Obama's signature first-term trip within the Western Hemisphere was overshadowed by the Libya crisis.
The United States and Britain launched more than 100 missiles on Libyan air defense targets in an effort to prevent Moamer Qadhafi's forces from crushing a month-old uprising against his rule.
Brazil, however, was one of five countries that abstained from the UN Security Council vote that authorized the use of "all necessary means" to protect Libyan civilians.
President Dilma Rousseff took the occasion to lobby for South America's largest nation to obtain a permanent Security Council seat in the world's most important decision making body.
"I am equally concerned with the slow pace of the reforms in the multilateral institutions that still reflect an old world," said Rousseff, echoing an opinion held by other emerging countries.
Obama did not endorse the Brazilian position but pledged to "continue our efforts to make sure that the new realities of the 21st century are reflected in international institutions."
Rousseff welcomed her counterpart to the presidential palace with a 21-gun salute, and the two signed agreements aimed at reducing trade barriers, facilitating bilateral investment, broadening Brazilian oil and gas production in the Gulf of Mexico, and outlining an "open skies" accord expanding commercial flights between the two nations.
"We seek more fairness and balanced trade relations," Rousseff said. "For us it's fundamental that we should break away from the barriers that have arisen against our products, like ethanol, beef, cotton, orange juice, airplanes and so on."
Obama, who flew to Rio de Janeiro late Saturday, has US jobs on his agenda during the five-day trip that includes stops in Chile and El Salvador.
Brazil, host of the 2014 World Cup and 2016 Olympics, has made an amazing economic leap in recent years, lifting millions of its people from poverty and capturing a new global influence.
"In the last two centuries, there has never been a moment of greater promise for Brazil," the US president told a gathering of business leaders.
"It's time for the United States to treat our engagement with Brazil on economic issues as seriously as we do with nations like China and India."
Obama earlier hailed the country's "extraordinary rise," saying the two nations laid foundations for greater cooperation and that the United States wants to help Brazil develop its huge offshore oil reserves.
Oil recently discovered off Brazil's coast could amount to twice the US reserves.
"We want to help you with the technology and support to develop these oil reserves safely, and when you're ready to start selling, we want to be one of your best customers," Obama said.
"At a time when we've been reminded how easily instability in other parts of the world can affect the price of oil, the United States welcomes the potential for a new, stable source of energy," he said, referring to unrest in the Middle East and North Africa.
But Obama was also pushing his country's goods, saying exports to Brazil $50 billion worth per year "have more than doubled over the last five years... faster than our exports to China."
Washington sees the visit as a chance to reassert US weight in a region attracting global interest, and investment dollars, from as far away as China another major oil importer.
Later it was announced that Rousseff had accepted Obama's invitation to visit Washington sometime in the second half of 2011.
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