The State of Israel and The Argentine Republic, The Federative Republic of Brazil, The Republic of Paraguay, and the Oriental Republic of Uruguay (Member States of MERCOSUR) have established the Common Market of the South between the Argentine Republic, the Federative Republic of Brazil, the Republic of Paraguay and the Oriental Republic of Uruguay (“MERCOSUR”). The State of Israel has signed the Framework Agreement with MERCOSUR on December 8, 2005.
On May, 25th Brazil and Israel launched their first call for the presentation of proposals in connection with R&D between companies in Israel and Brazil. This call is the result of the Memorandum of Understanding signed between both countries in 2007 on the bilateral cooperation in R&D. The full text can bee accessed here.