Brazil and the United States have announced a new partnership to boost research and production of ethanol and other biofuels. The agreement, signed in Sao Paulo today, paves the way for increased research and common standards for biofuels to be commercialized in international markets. Together, the United States and Brazil account for 72 percent of global ethanol production.
Under a memo of understanding signed earlier in the day by U.S. Secretary of State Condoleezza Rice and Brazil Foreign Minister Celso Amorim, the two nations pledged closer cooperation on researching alternative energy production, promoting alternative fuels in the region and developing industrywide standards and codes that could lay the groundwork for a global biofuels market.