Prime Minister Shinzo Abe and his Brazilian counterpart, President Michel Temer, agreed Wednesday to pursue economic cooperation in infrastructure projects, while the new Brazilian president seeks foreign investment in a bid to shore up the nation's battered economy.

The two leaders reached a deal to set up a committee for infrastructure projects as Japan aims to export its quality infrastructure to the South American agricultural powerhouse, which has a population of 200 million.

"Brazil offers a chance for Japan with a big investment opportunity in infrastructure projects," Abe said at the joint news conference with Temer.