The EU has accused Brazil of protectionism in the past.
But leaders tried to put those differences to one side at a joint trade summit in Brasilia.
European Commission president Jose Manuel Barroso and European Council president Herman Van Rompuy both attended the event.
Brazilian President Dilma Rousseff said her country’s ties with Brussels were key to economic growth.
“What is very relevant is the fact that in Brazil there are a great number of European companies that help to sustain growth in our country and that create jobs,” she said.
Brazil has hiked import tariffs on a number of products, including cars and pharmaceuticals.
It argues cheap money created by foreign central banks has flowed into the country, pushing up the real and crippling its exports.
The latest data which is available shows Brazil sells 20 percent of its exports to the European Union.
The EU, in turn, wants to boost the volume of goods sold to Brazil as a means of creating jobs and growth in Europe.
The IMF predicts the country’s economy will grow by 3.5 percent this year and four percent next year.
The European Commission has been negotiating a free trade deal with the Mercosur trading bloc, of which Brazil is a member, for the past twelve years.
Copyright © 2015 euronewsMore about:
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2The power of the pen: Cartoonists worldwide react to the Charlie Hebdo attack | euronews, world news
- 3Immigration, racism in sport and the rise of extremism – Cantona shares his views | euronews, interview
- 4[LIVE] 12 dead after gun attack at French satirical weekly Charlie Hebdo | euronews, world news
- 5[LIVE NOW] Massive unity rally in Paris, with similar marches in other French cities | euronews, world news
- 6[LIVE] Second hostage crisis erupts in Paris as police close in on Charlie Hebdo suspects | euronews, world news
- 7Muslim groups fear backlash after terrorist attacks in Paris | euronews, news
- 8“ISIL is the baby of George W Bush” | euronews, news
- 9Medieval Bruges is to get its own underground beer pipeline | euronews, world news
- 10International breaking news | euronews online world breaking news in video
- 11Almost four million turn out for unity rallies across France | euronews, world news
- 12euronews apps : iPhone, iPad, Android, Windows Phone 8, Windows 8, Nokia S40, Nokia Asha, Smart TV and Google Glass
- 13Key questions around the Charlie Hebdo killings go unanswered | euronews, world news
- 14eurovibes - a selection of Europe’s best music talent
- 15A defiant Charlie Hebdo: it’s not the front page the terrorists would’ve wanted | euronews, world news
- 16France: Angouleme council takes down anti-homeless cages around benches after outcry | euronews, world news
- 17HarperCollins wipes Israel off the map | euronews, world news
- 18NewsWires : euronews : the latest international news as video on demand
- 19Grim task of retrieving bodies after wreckage of missing AirAsia plane found | euronews, world news
- 20Charlie Hebdo: Israeli paper deletes women from Paris march | euronews, world news