Brazil Goes to Algeria to Reduce Trade Deficit with that Country

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.

Agência Brasil

Tags:

  • Show Comments (1)

  • Guest

    ???????????
    ….should all the countries with whom you have a trade surplus….do the same with….Brazil ?????????

    China and Russia….are a good example.

    I dont even mention the developped nations !!!!!!

Your email address will not be published.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

Celebrations: 200 Years Ago Brazil Became Seat of Portugal Empire

The president of Brazil, Luiz Inácio Lula da Silva, inaugurated Friday, March 8, an ...

Brazilian Love Affairs

The Brazilian press is in love with Brazil’s Finance Minister, Antônio Palocci. One of ...

Czar of Rio’s Underworld

If Rio’s new Public Security Secretary, Anthony Garotinho, makes an impression and reduces the ...

Brazil Accuses US of Lying to the WTO on Amount of Farm Subsidies It Grants

The price of suspending the negotiations of the Doha Round in the World Trade ...

A Brazilian Answer

I have witnessed the good side of globalization. It was hard to hide my ...

A Brazilian Eco Factory Tries to Spread Its Eco Culture

They make all their products out of recycled material. For them contributing to an ...

Would Lula Oust Lula from Brazil?

The imbroglio about the expulsion of the New York Times reporter from Brazil ended ...

Fearful of World Recession Brazil President Calls on Central Bank to Cut Interest Rates

Dilma Rousseff, the president of Brazil,  made her strongest call yet for the Brazilian ...

Brazil Has Latin America’s Two Largest Companies: Petrobras and Vale

State-controlled oil multinational Petrobras and mining company Companhia Vale do Rio Doce (CVRD), both ...

Exports Drop in Brazil While Imports Zoom Up

Brazilian exports added up to US$ 2.24 billion in the third week of the ...