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Car industry optimistic about Brazil’s coming gov’t

Ripples are expected to be seen in the whole economy

Published in 07/11/2018 - 18:14

By Marli Moreira São Paulo

Antonio Megale, head of Brazilian car makers’ association Anfavea, reported today (Nov. 5) that the country’s auto industry has made the first contact with the government transition team assembled by President-Elect Jair Bolsonaro, and described the exchange as “excellent.”

He expressed optimism about the chance to present development proposals for the sector as well as the economy as a whole. The industry accounts for four percent of Brazil’s gross domestic product, and contributes with 12 percent of tax revenues.

Brasília - O presidente da Anfavea, Antonio Megale, fala à imprensa após encontro com  presidente Michel Temer
Antonio Megale, head of Anfavea – Antonio Cruz / Agência Brasil

When questioned about future ministry mergers, among them that of industry, foreign trade, and services—a move considered by Bolsonaro’s staff, aimed reducing the public apparatus—Megale said that, whatever format is adopted as government framework, he hopes there is room for the negotiation required for its evolution in the market.

“In our view, there should be a very strong Ministry of Production, where we could bring forward the demands of our sector,” he declared, adding that “the car industry hopes for the best for the country, just as the new administration does.”

The executive said the new administration must be sensitive towards the measures aimed at advancing international negotiations, especially with regards to Mercosur, and Argentina, despite the statements of economist Paulo Guedes, tapped as head of the Finance Ministry, who played down the importance of the economic bloc.

Translation: Fabrício Ferreira Edition: Fernando Fraga / Augusto Queiroz

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