Boeing and Embraer have signed an agreement this week to cooperatively work on improved aircraft safety, operational efficiency and manufacturing productivity.

Aimed at ensuring the mutual cooperation of both corporations, they have agreed to also collaborate on research and aviation biofuels. According to a statement released on Monday, the companies also plan to look ‘for other areas to work together to bring mutual benefit and value to customers’.

The agreement was signed in Washington, D.C. by Boeing Commercial Airplanes president and CEO Jim Albaugh and Embraer president and CEO Frederico Curado. On the same day, Brazil and the U.S. signed an aviation partnership memorandum of understanding (MOU) to secure more active cooperation between the two countries.

Jim Albaugh, CEO of Boeing Commercial Airplanes said:

“This significant agreement between two proven aerospace leaders provides real opportunities to reduce customers’ operational costs and enhance fleet efficiency.
We look forward to working with Embraer to grow our industry and build a productive relationship that will benefit our companies and our countries.”

Although no mention was made of collaborating to develop new products such as commercial aircraft carriers, the connection between the two industry leaders does lead plausibility to the theory that this may be a future development.

Boeing and Embraer are already known for joint corporate cooperation. In 2011, the two companies announced plans to jointly fund research in the production of sustainable aviation jet fuel from sugarcane, and earlier this year Boeing, Embraer and Airbus announced an MOU to work together on the development of affordable aviation biofuels.

Embraer is the world’s largest manufacturer of commercial jets up to 120 seats, and one of Brazil’s leading exporters. Boeing is the largest global aerospace company and manufacturer of commercial jetliners.