Washington ( CNN ) -- President Barack Obama and visiting Brazilian President Dilma Rousseff on Monday stressed the importance of strong ties between their countries , despite Brazil 's concerns about U.S. economic policies that it says can work against emerging economies . In comments to reporters after a White House meeting , Obama and Rousseff highlighted the areas of cooperation on energy development , education and trade as the two leaders prepare to attend the upcoming Summit of the Americas in Cartagena , Colombia , beginning Friday . However , they made no mention of less collaborative topics , such as whether each country will purchase new military aircraft from the other , or whether the United States will support Brazil 's efforts to gain a seat at the U.N. Security Council . Two-way trade between Brazil and the United States last year totaled around $ 74 billion , according to the U.S. Census Bureau , and the balance has gone from a U.S. deficit to a surplus in recent years . Brazil has recently announced a series of measures to boost economic growth and rein in its overvalued currency , including slashing interest rates and levying taxes on short-term currency inflows . At the same time , Brazil complains that low U.S. interest rates amid a sluggish recovery are hurting foreign trade partners . On Monday , Rousseff and her foreign affairs minister both noted the U.S. trade surplus with Brazil , and Rousseff called for better balance in U.S. monetary and fiscal policies to prevent a depreciation of the dollar that harms emerging market trade partners . Expansionist monetary policies , such as holding down interest rates , in isolation of fiscal expansion through increased investments , `` ultimately lead to a depreciation in the value of the currencies of developed countries , thus impairing growth outlooks in emerging countries , '' Rousseff said . Earlier , in comments to U.S. business leaders , Foreign Minister Antonio de Agular Patriota cited increased trade between the countries despite the global economic downturn of recent years , but he also called the Brazilian trade deficit with the United States `` not ideal '' and `` a challenge . '' In particular , he said the United States now buys more Brazilian commodities and fewer of his country 's manufactured goods , adding , `` this is something we have to look at very seriously , and we will . '' In her comments , Rousseff noted that the global economy 's `` resumption of growth in the medium-term future certainly involves a substantial resumption of growth in the U.S . economy . '' `` We very much welcome the major improvements that have been found in the U.S. economy in the recent past , and I am quite certain that that will very much be the emphasis in the next few months and years ahead under the capable leadership of President Obama , '' she added in what amounted to either an endorsement or prediction of Obama 's re-election in November . It is Rousseff 's first official visit to Washington as Brazilian president and comes more than a year after Obama went to Brazil , shortly after Rousseff came to power in the South American country . In his own remarks to reporters , Obama emphasized Brazil 's rising influence in global affairs as a South American power that has become the world 's sixth-largest economy . He cited `` the extraordinary progress that Brazil has made '' to become `` not only a leading voice in the region , but also a leading voice in the world . '' In particular , Obama noted Brazil 's growing energy development and its growth into a leader in the biofuel industry as well as a major player in oil and gas development . `` The United States is not only a potential large customer to Brazil , but we think that we can cooperate closely on a whole range of energy projects together , '' Obama said at a time when he is under attack from Republicans over rising domestic gas prices . Speaking through a translator , Rousseff agreed that oil and gas development offered `` a tremendous opportunity for further cooperation , both as regards the supply of equipment and provision of services , and also as regards a wider role in our trade relations . '' In addition , she welcomed a recent U.S. decision to cut tariffs on Brazilian ethanol , which strengthened the partnership between the nations in biofuel development . Rousseff also touted her country 's Science Without Borders program , which seeks to send 100,000 students overseas for science education and training , including 20,000 to the United States . She will travel Tuesday to Boston to speak at two desired destinations of Brazilian science students : Harvard and the Massachusetts Institute of Technology . As part of its desire to raise its international status as a major emerging economy , Brazil is seeking membership on the U.N. Security Council . So far , the U.S. government has expressed support for India to join the Security Council but offered no position on Brazil , and the topic was not mentioned Monday . CNN 's Shasta Darlington and Becky Brittain contributed to this report .
NEW : Brazil 's president calls for a balanced U.S. economic approach . NEW : The two leaders discuss cooperation in oil and biofuel development . Two-way trade between Brazil and the United States totaled $ 74 billion in 2011 . Brazil is the world 's sixth-largest economy .