Brazil Foreign Trade Ministry sees China and India as Brazil’s allies

19 April 2007

Brasilia, Brazil, 19 April – The executive secretary of the Brazilian Ministry of Development, Industry and Commerce, Ivan Ramalho said Wednesday in Brasilia that the country should look at China and India, “more as allies than competitors.”

In an interview, Ramalho said that “from the point of view of negotiations, there are very reasonable relations with China and India, which makes it necessary to intensify efforts to find greater investments, as did Spain, which for years led investments in Brazil.”

In this sense, he noted the need to control inflation, reduce country risk, strengthen the Brazilian currency and increase exports, the balance of trade and international reserves. Ramalho said that it was also important not to have debts with organizations such as the International Monetary Fund (IMF).

After opening the II International “Emerging Challenges” Conference, Ramalho added that “Brazil’s relations with China and India are good. With China, Brazil already has a large level of trade and we do not need so much to compete, as attract investment.”

The meeting was called by the Brazil-China Business Council and brought together Tuesday and Wednesday specialist from both countries, as well as representatives from India, the United States, Mexico and South

In 2006, trade between Brazil and China totaled around US$16.38 billion, with a Brazilian surplus of US$410.4 million and trade with India totaled some US$2.41 billion, with a Brazilian deficit of US$537.3 million. (macauhub)