He added a bilateral commission was created Thursday to analyze

investment opportunities in Brazil.

Herman Van Rompuy, President of the European Council, hailed the summit, saying it "is marked by ambition, especially in economy and trade."

He said the EU was willing to work with Brazil, especially on economic and trade issues, and praised Brazilian investment in the European bloc.

Following the Brazil-EU summit, the leaders will meet again in Santiago, Chile at the weekend for the first summit between the Community of Latin American and Caribbean States and the EU.