On November 20-22, the Brazilian Minister of Development, Industry, and Foreign Trade, Luiz Fernando Furlan, will travel to Algeria, in Africa, for the purpose of exploring business and investment opportunities, as well as increasing Brazilian exports to that country in order to even the trade balance, which is currently favorable to the Algerians.
According to the Ministry’s press office, the mission to Algeria will be headed by minister Furlan and will include entrepreneurs interested in exporting engineering goods and services, since that country has a large demand in the area of infrastructure.
Data from the Ministry indicate that the Algerian market offers a good potential for the placement of food and pharmaceutical products, furniture, paper, auto parts and motor vehicles, domestic appliances, steel, construction material and equipment for public works, fabrics, and shoes.
Algeria is Brazil’s second biggest trade partner in Africa, second only to Nigeria. It is an important supplier of petroleum, and its major imports from Brazil are sugar, beef, and soybean oil, which earned Brazil US$ 348 million in 2004.
But Brazil spent over US$ 1.8 billion on purchases of Algerian petroleum and naphtha. Therefore, the Brazilian Ministry of Development, Industry, and Foreign Trade hopes to encourage a reduction in Brazil’s annual bilateral trade deficit, which has exceeded US$ 1 billion since 1989.