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:

You May Also Like

Brazil Goes to Washington to Fix Its Social Security

Brazil’s Minister of Social Security, Amir Lando, initiated, yesterday, a series of contacts to ...

Hot Names

For all the globalization and Americanization of Brazil it’s a surprise to see there ...

Brazil’s Car Industry Sells 41% More in January and Hits Record

Brazilian carmakers are starting the year promisingly both in deals closed on the domestic ...

Attorney General Says Brazil’s Biosecurity Law Is Unconstitutional

Brazil’s Federal Supreme Court (STF) received a petition of Direct Action of Unconstitutionality (ADI) ...

Premature Fever

At this stage, while campaigning is unofficial, the media should be exposing the inefficiency ...

30,000 in Brazil Forced to Leave Home Due to Rains. Army Called.

Rains in northern Brazil have caused the level of the Acre River to rise ...

A Brazilian Appeal: Help Haiti, Fast!

The Brazilian Minister of Defense, José Viegas, reinforced today the need for international aid ...

Brazilian presidentiables Geraldo Alckmin and José Serra

Brazilian Elections: Alckmin the Hare Takes on Serra the Tortoise

The contest to see who will be the next President of Brazil has already ...

CFIF Wants U.S. to Stop Brazil from ‘Stealing US Patents’

While the U.S. Trade Representative’s Office this week announced a new initiative to end ...

Brazil’s TAM Airlines Reelects Two Women as Chairman of the Board and Chairman

TAM S.A., Brazil’s largest airline company, reelected the members of its Board of Directors ...