U.S., Brazilian presidents meet for stronger ties U.S. President Barack Obama (R) meets with visiting Brazilian President Dilma Rousseff i...

U.S., Brazilian presidents meet for stronger ties

U.S. President Barack Obama (R) meets with visiting Brazilian President Dilma Rousseff in the Oval Office of the White House in Washington D.C., capital of the United States, April 9, 2012. (Xinhua/Zhang Jun)

WASHINGTON, April 9 (Xinhua) -- U.S. President Barack Obama on Monday met with his Brazilian counterpart Dilma Rousseff at the White House in an effort to foster stronger ties between the two biggest economies in the Western Hemisphere.

According to a joint statement released after their meeting in the Oval Office, the two leaders discussed their countries' ongoing relationship on a "broad range of bilateral, regional, and multilateral issues."

They welcomed the growth of trade and investment ties between the two biggest economies in the Americas, which has hit a record high of 74 billion U.S. dollars in two-way trade in 2011, said the joint statement, adding that they further emphasized the importance of stimulating more investment and trade.

It is widely believed that the meeting has a strong focus on economic ties, as both leaders are trying to prop up economic growth and create more jobs by increasing the bilateral trade and investment. Obama has promised to double the U.S. exports by 2015.

The economic focus can also be told by the leaders' schedule. Both Obama and Rousseff participated in the U.S.-Brazil CEO forum held here on Monday which brought together business leaders from both countries. U.S. Secretary of State Hillary Clinton and Brazilian Foreign Minister Antonio Patriota are also expected, later in the day, to sign an aviation cooperation agreement aimed at promoting air travel between the two countries.

In the press availability at the White House after their meeting, Obama first appreciated the hospitality he received when he visited Brazil in March last year.

He heralded the "extraordinary progress" that Brazil has made under Rousseff and her predecessor former President Luiz Inacio Lula da Silva, including embarking on a high growth path and lifting millions out of poverty.

Noting the record levels of trade and investment between the United States and Brazil, Obama said that he and Rousseff discussed a wide range of issues, including global economic growth, Middle East, the upcoming Summit of the Americas, among others.

In her remarks, Rousseff said that she brought up the issue of monetary policy with Obama during the meeting.

She expressed Brazil's concerns about the "expansionary monetary policies" adopted by rich countries, saying that they will ultimately lead to the "depreciation of currencies of developed countries, thus impairing growth."