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:

Ads

You May Also Like

Brazil and Latin America, a US$ 74 Billion Regional Trade Power

Trade among the Latinamerican Integration Association (ALADI) members, which include Brazil, Mexico, Argentina and ...

Americas’ First Wave Power Plant Is 100% Made in Brazil

In October, the first wave power plant on the American continent will commence operations ...

Brazil’s Lula to Tell Obama: Americas Are Big Family with Cuba and Venezuela

Luiz Inácio Lula da Silva, the President of Brazil and the first Latin American ...

Will the US Ever Comply with the WTO? Brazil Wants to Know.

The United States has still not complied with a World Trade Organization ruling that ...

Who’s Afraid of the PT?

Who is killing the PT leaders? Two main opposing views have surfaced. One is ...

Egypt Media Giant Al Ahram Wants to Invest in Brazil

Al Ahram group, the largest media group in Egypt, is studying the possibility of ...

Brazil Ready to Expand Help and Cooperation with Africa

Luiz Inácio Lula da Silva, the president of Brazil, is going to propose broad ...

World Bank Tells Brazil to Fight Poverty If It Wants to Catch Up with China

Brazil and the other countries in Latin America need to be more aggressive in ...

Stocks Go South in Brazil With Foreigners Redirecting Money to US

Brazilian stocks  sank into the red today, as investors reacted to a continued drop ...

Disarmament Campaign Saves Over 3,000 Lives in Brazil

Over 3 thousand lives were saved in Brazil as a result of the reduction ...