• Categories
  • Archives

Brazil Wants to End Chronic Trade Deficit with Algeria

Brazil intends to diversify its exports to Algeria in order to balance its trade flows with its Arab partner. The Brazilian bilateral trade deficit amounted to US$ 2.4 billion in 2005.

In a three-day visit to Brazil ending Tuesday, April 18, the Algerian minister of Foreign Affairs, Mohammed Bedjaoui, met with various ministers and, together with the Brazilian chancellor, Celso Amorim, took part in the 2nd Meeting of the Brazil-Algeria Joint Commission. The first meeting occurred 19 years ago.

According to Minister Amorim, closer political ties between the two countries "provides a framework to drive trade." Algeria is Brazil’s second most important trade partner in Africa – the first is Nigeria – and is the most important in the Arab world.

Brazil is Algeria’s most important trading partner in the developing world and seventh overall. Nevertheless, Brazil has been buying more from Algeria than vice-versa since 1989. In 2005 Brazil imported US$ 2.82 billion from Algeria – petroleum products, basically – and exported only US$ 384 million.

"We are attempting to diversify. We are not seeking an equal balance, since the nature of trade doesn’t permit this, but, rather, to increase our presence as exporters, whether it be of goods or services," Amorim commented after the conclusion of the bilateral encounter.

The meeting intensified cooperation possibilities in the areas of penal procedures, the judiciary, science and technology, agriculture, and health.

Bedjaoui took advantage of his stay in Brasí­lia to meet with the ministers of Development, Industry, and Foreign Trade, Luiz Fernando Furlan; Agriculture, Livestock, and Supply, Roberto Rodrigues; and Defense, Waldir Pires. "The meetings of an economic and commercial nature were very important," Amorim emphasized.

In February president Luiz Inácio Lula da Silva paid a State visit to Algeria, and various cooperation agreements were signed. The Brazilian chancellor went to Algeria in February, 2005. Ties between the two countries grew in 2005.

In May, the President of Algeria, Abdelaziz Bouteflika, paid a State visit to Brazil. In November, minister Furlan led a trade mission to Algeria in search of new business and investment opportunities.

According to Amorim, the political approximation is already having repercussions in trade relations. The minister observed that Brazilian firms are beginning to participate in public works projects in Algeria and that there are joint work projects in areas linked to the transport materials industry.

The Brazilian Aviation Enterprise (EMBRAER) is making headway in obtaining contracts to furnish civilian and military aircraft to the Algerian government.

Another promising area, in the chancellor’s opinion, is gas and petroleum. Amorim informed that, in the next few days the Brazilian minister of Mines and Energy, Silas Rondeau, will invite the Algerian minister of Energy to visit Brazil.

ABr

Tags:

  • Show Comments (3)

  • Guest

    why??
    STOP MAKING SHITTY PRODUCTS!!
    !MR. IDIOT!!!

  • Guest

    whether it be of goods or services,\” Am
    Strange.this demonstarte their one way vision for their exports, not their imports.

    The WTO meeting is very soon, I think !

  • Guest

    the USA and the EU……
    ..would like to do the same with Brazil, but we cant? whyyyyy ?????

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

For Giros, a Brazilian Film Company, Documentary and Excitement Go Together

The films and documentaries of Brazilian production company Giros, based in Rio de Janeiro, ...

Jobs in Brazil Up for 3rd Month in a Row

Industrial employment in Brazil grew 0.2% in July, the third gain in as many ...

Federal Dental Program Caring for 60 Million Brazilians

Brazil’s Ministry of Health’s Buccal Health program, which now has a total of 10,240 ...

Brazil’s Buffalo Breeders Want to Serve You Some Different Milk for Breakfast

Brazil’s Association of Livestock Breeders and Dairy Producers of Vale do Ribeira (Proleite) want ...

Can God Save Rio?

Under a new restrained, conservative conception of democracy,  religion has slid into the equation. ...

Brazil’s Lula Starts Storm Comparing Himself to Jesus and Allies to Judas

In an interview with Folha de S. Paulo, Brazil's largest-circulation daily, Brazilian president Luiz ...

Brazil’s Embraer Hands JetBlue First of 101 Jets

Brazilian aircraft manufacturer Embraer delivered today its first Embraer 190 to American airline JetBlue ...

Racial Equality in Brazil: A Goal to Shoot For

As fans around the world marvel at the skills of Brazilian soccer players, they ...

Dr. Menges, I Apologize for My Fellow Brazilians

The "new axis of evil," which late American scholar Constantine Menges predicted and all ...

Brazil Is Two Years Behind in Preparations for 2014 World Cup

It is a tradition for the World Cup’s next host country to lay out ...