Brazil Tops Countries with Most Investment from Europe

Brazilian President Lula with José Manuel Durão Barroso, president of European commission The first ever summit between the European Union and Brazil is taking place in Portugal marking the start of what both sides hope will become a new "strategic" partnership on issues such as energy, climate change and human rights.

Portugal, which has just taken over the EU rotating presidency, said the Lisbon summit with the emerging Latin American economy had been a priority.

Portuguese Prime Minister José Sócrates and European Commission President José Manuel Durão Barroso hosted the talks this Wednesday, July 4, with Brazilian President Luiz Inácio Lula da Silva.

Brazil during the 2003/2005 period has been the country which most European Union investments received, over US$ 107 billion and in a recent report from the EU was praised as a "strategic partner."

In recent years "Brazil has undergone a significant growth as a global player in international affairs and a key interlocutor for the EU," besides the fact "it has become the main economic actor in Latinamerica and leader of the region". The report also underlines the political stability and governance achieved by Brazil.

Brazil is one of the so called BRIC member countries identified by Goldman Sachs, Brazil, Russia, India, China which have in common extensive territories, numerous population, abundant natural resources and have lately shown significant growth rates and participation in world trade, conditions which makes them particularly attractive for foreign investors.

Brazil and India are leading players in global trade negotiations which aim at a significant reduction of agriculture subsidies and tariffs particularly by the rich countries, European Union and United States.

But the EU and the US are demanding that developing nations open their markets to industrial goods and services.

According to reports from Buenos Aires, the "strategic" alliance of Brazil with the European Union surprised Mercosur members who apparently were not aware of the extent of the understanding to be sealed.

"This goes to show how bad things are inside the block. Mercosur members asked EU diplomats when they read about the initiative in the local press," admits Argentina's Secretary of Trade and International Economic Relations Alfredo Chiaradia.

"When we asked the Brazilians they replied it was a unilateral decision from the EU, but as long as trade negotiations are left out, supposedly there's nothing to object," said Chiaradia.

Mercopress

Tags:

You May Also Like

Five Countries Discuss in Brazil Future of the Rio de la Plata Basin

The Ministers of Environment of Brazil, Marina Silva, and Paraguay, Alfredo Molinas, will jointly ...

End of European Embargo Gives Brazil Honey Exports a Boost

Honey exports from Brazil have bounced back from the falling figures observed in July ...

Brazil Sees Biotecnology as Panacea for Economic and Ecological Ills

The biotechnology development policy, launched on Thursday, February 8, by Brazilian President Luiz Inácio ...

With Europeans on Board as Investors Northeast Brazil Goes After Arabs

Construction companies in Brazil want to organize a mission to the United Arab Emirates ...

Ten Candidates Running to Be Brazil’s Next President

Brazil’s Federal Election Board (Tribunal Superior Eleitoral – TSE) reports that it has received ...

Brazil Builds a Bridge Between Haiti and the Caribbean

Brazil’s Minister of Foreign Relations, Celso Amorim, traveled Sunday, May 15, to Jamaica and ...

Lula Checkmates Bush

Even the most orthodox international lending institutions have been checkmated by President-elect Luiz Inácio ...

Brazil Opens Amazon for Logging and Greenpeace Applauds

Brazil has approved a law granting licenses for wood logging in publicly owned sections ...

Brazil Toys with Idea of Islamic Stock Market and Banking System

This Monday, December 8, Brazil's Securities and Exchange Commission (SEC) and the Securities, Commodities ...

Brazil Does Not Want a Quota System from Russia

Vice president José Alencar reports that he has had discussions with Russian prime minister, ...