Brazil, US conclude deals to facilitate investment
President Jair Bolsonaro said today (Oct. 19) that representatives from Brazil and the US a few days ago concluded the negotiations of three deals demanded by investors in both countries on easier trade, good regulatory practices, and anti-corruption efforts. “This triple package will be capable of cutting red tape and bring more growth to our bilateral trade, with beneficial effects for the investment flow,” he said.
Bolsonaro took part in the online opening ceremony of the business conference US–Brazil Connect Summit on Monday, and invited investors to look at the business portfolio under the Investment Partnerships Program (PPI), with concessions and privatizations spearheaded by the federal government. He mentioned the new businesses opportunities in the country after the opening of the Brazilian natural gas market and the strengthening of the biofuel sector, “key in this process of revamping our energy network.”
“There is a huge potential,” the president argued, in the cooperation agenda between the two countries, and a number of areas of common interest. “For the future, we see a solid tax agreement, a comprehensive commercial deal and a bold partnership between our countries in order to redesign global production chains,” he stated.
In his speech, the president also talked about the signing of deals in the defense department, with the new cooperation opportunities between the Armed Forces and the industry in both countries. “This is the first deal of this modality the US signs with a South American country, which also shows the willingness on the US side to deepen bilateral ties,” he went on to stress.
In this connection, Bolsonaro said Brazil’s admission in the Organization for Economic Cooperation and Development (OECD) is “a firm objective of the Brazilian state, for which we have worked diligently both technically and politically,” with the support of the US government. “Brazil’s admission in the OECD will generate positive effects for the attraction of domestic and international investments and will be yet another evidence of our willingness in taking up commitments and responsibilities compatible with the importance of our country in the international system.”
According to Bolsonaro, his close ties with US President Donald Trump has heralded “a new stage in the relationship between the two biggest economies and democracies on the hemisphere.”
“The priority that Brazil ascribes to this relation is clear and sincere. Since the beginning of my administration, I have visited the US on four occasions and I was with President Trump on all four,” he stated.
