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GV & SV EXTERIOR AND SIGN U.K. Foreign Office (2 shots)
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MV ZOOM INTO SV Callaghan (centre) and Brazilian Foreign Minister Silveira (left) with newsmen looking on (2 shots)
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SV ZOOM INTO CU PAN Callaghan and Brazilian Foreign Minister at table
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SV ZOOM OUT TO GV Callaghan and Brazilian Foreign Minister stand up and shake hands
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Script is copyright Reuters Limited. All rights reserved

Background: The Brazilian Foreign Minister, Antonio da Silveira signed an important agreement with British Foreign Secretary James Callaghan at the Foreign and Commonwealth Office in London on Tuesday (21 October) covering a wide range of issues including trade.

In the trade sphere the agreement provides for bilateral consultations on a wide range of subjects including future arrangements for manufactured goods and raw materials.

The agreement also includes economic and industrial co-operation between the two countries, the strengthening of commercial relations, participation in industrial development, investment banking and credits.

A spokesman for Mr. Callaghan said that constant close contact through diplomatic channels will be supplemented by meetings up to ministerial level.

Already deals being concluded between Britain and Brazil include a joint venture to construct a multi-million pound sterling offshore oil exploration platform. Others involve railroads.