Brazil Benefits from Central American Free Trade Agreement

The free trade agreement signed by the United States, Central America, and the Dominican Republic (CAFTA) will benefit Brazil indirectly, in the opinion of ambassador Mário Vilalva, director of the Trade Promotion department of the Brazilian Ministry of Foreign Relations.

Brazilian companies based in the region will be able to export their products duty-free to the United States, as prescribed in the agreement, which takes effect in January, 2006.

For this reason, President Luiz Inácio Lula da Silva, during an official visit to Guatemala, Tuesday, September 13, launched an investment incentive program for Central America and the Caribbean. Among the Brazilian companies that are considering investing in the region is the Santista textile industry.

“It plans to invest US$ 100 million to produce 25 million meters of jeans fabric annually, creating 700 direct jobs,” Vilalva says. According to the ambassador, construction firms also intend to invest in Central America.

During a meeting attended by 35 Brazilian entrepreneurs, parallel to the meeting of heads of State and government of the Central American Integration System (SICA), there were talks with Guatemalan entrepreneurs, besides the presentation of the Brazilian investment incentive program.



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