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:

You May Also Like

US$ 3 Million in Dental Deals for Brazil

Brazil’s 1st International Business Roundtable at the São Paulo International Dental Meeting (Ciosp), which ...

Brazil’s New President to Keep Lula’s Policy of Non-Subordination to the US

On October 31, Brazilians elected their new president, Worker’s Party (PT) candidate Dilma Rousseff. ...

Brazil’s Lula Can’t Be Like All the Others

Brazilian President Lula da Silva should stop repeating partial projects and embody an alternative ...

Sustainable Development Creator Scolds Brazil

The author of the concept of sustainable development, Gro Harlem Brundtland, ex-prime minister of ...

On the Edge

If there is an ultimate frontier that would be Roraima, the land of the ...

Brazilian Congressmen Want End to Nepotism

Brazil’s Chamber of Deputies’ Constitution and Justice Commission (CCJ) approved yesterday, unanimously, the Constitutional ...

Brazil’s Plans to Help Those Without Health Insurance

Brazil’s Ministry of Health plans to expand four programs designed to improve care for ...

Brazil’s Has World’s Most Expensive Currency, 149% Overvalued, Says The Economist

The Brazilian real is the world’s most expensive currency and is 149% overvalued against ...

Brazil Wants Portugal Help in Mercosur-EU Free Trade Agreement

In Porto, Portugal, today, Brazilian President Luiz Inácio Lula da Silva asked for Portuguese ...

Brazil and Rio Betting on the Year That Will Be Here to Stay: 2016

The New Year celebrations in Rio de Janeiro, Brazil, should draw more than two ...