Joint Statements Following Discussions With the President of Brazil.

THE PRESIDENT of Brazil and the President of the United States are associated in their approval of the following statements:

[1.] The President of the United States of Brazil and the President of the United States of America have met in Washington, D.C., and have discussed at length the desirability of fostering economic development and social progress through the mutually beneficial interchange of technological data and trained specialists of all types, as well as through financial and economic cooperation. These conversations have been inspired by the traditional and unfaltering friendship which has prevailed for more than a century in the relations between the two countries.

The recently published report of the Joint Brazil-United States Technical Mission, which outlines a program of economic development for Brazil, was discussed. In reply to the expression of appreciation by President Dutra for services given by North American experts with this report, President Truman emphasized the past record of interdependence of the two countries, in times of peace and war, and assured the Brazilian President that the United States is now, and will continue to be, most interested in the further development of his country, either through the implementation of the recommendations made in the joint report or in other fields of related endeavor. It was suggested that technical discussions regarding this report might take place later in the year at the time of the visit of the Brazilian Minister of Finance to the United States.

President Dutra mentioned the need of foreign private investment in Brazil. The two Presidents recognized the important role of private investment in economic development and social progress. Accordingly, they have instructed technical experts of their respective Governments to commence immediately the negotiation of an appropriate treaty that would stimulate the mutually beneficial flow of private investment.

The two Presidents were also fully agreed that a comprehensive joint study of the tax relations between the two countries would be helpful. It was decided that conversations on this subject should be held with a view toward negotiating a convention between the two countries, similar to those already in force between the United States and other countries, which will, it is hoped, eliminate many of the factors that result in double taxation.

President Dutra also pointed to the great need in Brazil for trained technicians and specialists of all types. He was assured that every effort would be made to meet Brazil's requirements in the field of technical cooperation.

The two Presidents recognized the possibility of financing through public lending agencies appropriate development projects not suited to private financing, such as those projects which have already been accepted for financing by the International Bank for Reconstruction and Development and the Export-Import Bank. President Truman assured President Dutra that requests from Brazil would in the future, as in the past, receive the most attentive consideration of the United States Government.

[2.] The historical record of relations between Brazil and the United States reflects cordial and unbroken friendship and cooperation. During the present visit of Brazilian President Dutra, he and the President of the United States have reviewed this admirable record and have discussed means through which relations between the two States might be improved and broadened. In this connection both Presidents have agreed that a cultural convention, a treaty which would encourage and further stimulate the present cultural exchange between the two countries, would be desirable and have given their approval to the negotiation of such an instrument.