The purpose of this study is to analyze the relevance of the Community of Portuguese Language Countries to the Brazilian and Portuguese foreign policy agendas, over a time period that extends from its creation in 1996 to the tenth anniversary of this international organization in 2006. The hypotesis to be confirmed points out that there was a considerable variation regarding the levels of importance conferred to this Community in defining and implementing the foreign affairs strategies of these two countries. The organization occupied a high position in the Portuguese agenda, as it was placed at the center of a strategy which aimed to increase international participation by the articulation within some specific international institutions in which Portugal is a member. As for Brazil, the Community of Portuguese Language Countries played a role of minor importance, as the strategy to achieve Brazilian foreign policy goals had priorities other than the lusosphonic space.