Brazil Tries to Solve Trade Imbalance Investing in Central America

With its exports outrunning imports almost ten to one, Brazil is more than willing to invest in Central America and the Caribbean and will announce the launch of an investment incentive program for the region.

The new program is known as Pibac (Programa de Incentivo aos Investimentos Brasileiros na América Central e Caribe – Program of Incentive to Brazilian Investments in Central America and the Caribbean) and will be announced next week at a meeting in Guatemala, the Brazil-Central American Integration System (SICA) summit (September 12 and 13).


In 2004 Brazil exported goods worth US$ 1.36 billion to SICA, while importing US$ 105.6 million; and exported US$ 1.2 billion to the Caribbean, while importing US$ 100 million. So far this year Brazilian exports to the region are up 36%, while imports have fallen slightly.


“As there really isn’t any way to balance trade with the region, Brazil can compensate with investments,” explains Mário Vilalva, of the Commercial Promotion Department at Itamaraty. “That will be beneficial for both sides.


A total of 35 Brazilian business leaders will attend the summit in Guatemala, along with another 100 businessmen from the region.


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Your email address will not be published.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

Highways in Brazil: a Dead-end Road

Anyone entering a car, truck, or bus and driving on the Brazilian highways knows ...

Brazilian Veterans of Paris-Dakar Give the Social Lowdown on Rallies

Klever Kolberg, 45, one of the pilots in the Petrobras Lubrax rally team, has ...

80% of World’s Online Hackers and Pedophiles from Brazil

According to the Brazilian Federal Police, Brazil is a significant player in Internet crime. ...

A Pleasing Year for Brazil’s Cosmetics Overseas. Sales Are Up 20%.

Exports by Brazil’s personal hygiene, perfumery and cosmetics industry grew 20% in 2005 and ...

In Brasília Assemblymen Get Busy Trying to Prevent a Federal Intervention

The assemblymen in the Federal District Legislative Assembly (CLDF) are hard at work to ...

Brazil Has Deployed Close to 30,000 Troops to Defend Amazon Riches

Nelson Jobim, Brazil's Minister of Defense, announced he will be visiting neighboring countries to ...

Regulatory Shock

Debate Goes OnBy Brazzil Magazine The two most cogent reasons for the 50 percent ...

Brazilian Market Dips After Record Post-Carnaval High

Latin American stocks were mixed, with Brazilian shares easing lower, as investors locked in ...

Who’s Afraid of the PT?

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

Picking Coffee in Brazil

After passing by so many women searching for the bad beans, it is very ...