The European Union has signed a memorandum of understanding with Brazil to promote cooperation in agriculture and rural development, according to a statement on EU Commissioner Dacian Ciolos’ website.

The accord was signed by Ciolos, the EU commissioner for agriculture and rural development, and Mendes Ribeiro Filho, Brazil’s agriculture minister, according to the statement released today.

The EU and Brazil agreed to share knowledge on topics including sustainable agriculture and increasing farming productivity. The two sides may have working groups and annual meetings, with the first dialogue scheduled in Brussels at the end of this year or early 2013, according to the statement.

To contact the reporters on this story: Whitney McFerron in London at wmcferron1@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net