During their talks, the two countries signed accords regarding technology transfer, biotechnology, agriculture and public health.
Under Lula, Brazil has provided money and corporate muscle to Cuba, at a time when its economy has suffered in the global economic recession.
The trip was Lula´s third to Cuba in two years, AND his last official visit before his term expires.
Brazilian officials say it was meant to signal Cuba´s importance to whomever is elected his successor in Brazil´s October election.
Brazil´s state-controlled oil giant Petrobras is studying whether to drill for oil off Cuba.
And a Brazilian construction firm is heading a massive remake of the port of Mariel, west of Havana, into Cuba´s main commercial port.
Brazil´s state-run National Development Bank has given $300 million to the company to build new highways, rail lines, and other facilities at Mariel,
The port now is best known as the site of a 1980 exodus, in which thousands of people fled Cuba for the United States.