A multibillion-dollar weaponry contract for the transfer of key technologies has been signed between Brazil and France.

The value of the contract is estimated to be $12.3bn of which $9bn will be for the purchase of French military equipment. It is scheduled to be executed by 2021.

The deal includes building five submarines, one of which will be nuclear-powered, as well as the purchase of 50 EC-725 helicopters by Brazil.

Eurocopter, an affiliate of EADS, will cooperate in the manufacture of helicopters in Brazil.

Brazil will also begin negotiations individually for the purchase of 36 Rafale combat aircraft from the French firm Dassault Aviation.