Brazil Is Losing Competition Race, Warns American Chamber of Commerce

“We are losing the race in relation to other countries” was the warning sounded yesterday, June 15, by the president of the council of the American Chamber of Commerce (Amcham), Hélio Magalhães.

Magalhães spoke during the seminar, Competitiveness Brazil, in which the challenges involved in the search for better business conditions are being debated in the Chamber of Deputies.


He pointed out that, despite the country’s recent, significant advances, the process has been slower than among the competitors.


According to Magalhães, Brazil’s share of global exports fell from 1.31% in 1995 to 1.31% in 2004. According to data from the Ministry of Development, Industry, and Foreign Trade, Brazil ranks 25th on the list of the world’s biggest exporters.


The heavy tax burden was cited by the president of the Amcham council as one of the factors detrimental to competitiveness.


Magalhães informed that in Mexico this burden is half of what it is in Brazil, adding: “We are losing foreign and domestic investments. We have a high cost that leads even Brazilian entrepreneurs to invest abroad.”


For Paulo Ferreira, who is representing the National Confederation of Industry (CNI) at the seminar, the absence of infrastructure also keeps Brazilian products from being more competitive.


This, according to the assessment made by the Minister of Development, Industry, and Foreign Trade, Luiz Fernando Furlan, who participated in the seminar, is one of the government’s concerns, along with reducing the fiscal burden.


The Minister informed that Brazil has been investing in ports to speed up operations and achieve lower costs.


ABr

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