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

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil and Argentina Join Forces in Cyberwar Against the US

Brazilian Defense minister Celso Amorim met his Argentine counterpart Agustín Rossi and offered to ...

Pataxí³ Indians Resist Police in Brazil

The Pataxó Resistance and Struggle Front and the Cassiana community, in the South of ...

Reading Brazilian Piñon, I Was Glad I Wasn’t the Caliph

Nélida Piñon is among Brazil’s best known writers, and Voices of the Desert is ...

Brazilians Go to Dubai’s Gulfood and Make Deals Worth at Least US$ 30 Million

Gulfood 2010, the largest food sector fair in the Middle East, which ended February ...

Despite World Cup Brazil’s Retail Sales Fall Brisk 3%

Retail sales declined 3% month-on-month in April, in Brazil, with only two of the ...

The Sublime Madam

Eny Cezarino, arguably was Brazil’s most famous and powerful courtesan ever. Her Casa de ...

Lula Swears In Three Ministers He Didn’t Choose

In the Planalto Palace, today, Brazil’s President Luiz Inácio Lula da Silva empowered three ...

Brazil Concerned with Venezuela’s Restlessness But Not Too Much

Brazilian Foreign Minister, Celso Amorim, speaking in Davos, Switzerland, at the World Economic Forum, ...

Chico Xavier: A Brazilian Saint for Whom World Was a Big Family

This year on Good Friday, April 2, Brazil is celebrating what would have been ...

Accused of Corruption, Brazil’s Senate President Might Resign Any Minute

Brazilian senator José Sarney, the president of the Senate and a key ally of ...