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France and Brazil have entered into a arms deal worth millions of dollars which will enable the sharing of vital military technologies, developing submarines as well as purchasing helicopters.
The deal was inked by French President Nicolas Sarkozy and the President of Brazil, Luiz Inacio Lula da Silva, during a meeting of the two that was held in Brazil on Monday.
Now France and Brazil have been empowered for sharing military technologies, including the developing of five submarines by France as well as the purchase of 50 EC-725 helicopters by Brazil.
The $12.3 billion worth deal will be executed by 2021. About $9 billion have been earmarked to purchase French military equipments.
The choppers would be constructed in Brazil along with the Eurocopter firm, an affiliate of the European EADS group.
"It's only a decision to begin negotiations," Lula said at a joint press conference with Sarkozy on Monday.
