Bolsonaro advocates closer ties among Brics business communities

President Jair Bolsonaro advocated a closer ties among businessmen in the countries making up Brics—a bloc formed by Brazil, Russia, India, China, and South Africa— with a view to inking deals that bring in “mutual gains” for all parties involved. The statement was made today (Jun 22) in a video for the Brics Business Forum.

“The connection among our business communities is one of our priorities at Brics. By getting to know each other better, our entrepreneurs can close deals that will result in mutual gains, also benefiting the workers in our countries,” the Brazilian president declared.

Bolsonaro underscored that among his government’s goals is expanding the participation of the private sector in the economy, “promoting investment in infrastructure, encouraging entrepreneurship, and reducing restrictions on free economic activity.”

New Development Bank

The New Development Bank (NDB), the president added, has the potential to contribute to the growth of the economy of the bloc, as well as to enhance the infrastructure of its member countries.

Creating NDB’s regional office in Brazil should enable the expansion of operations in the country, the president went on to say, “especially in areas such as infrastructure and urban mobility.” The efforts made by the new bank in tackling the pandemic also proved key, he added.

OECD

“Brazil is committed to becoming a safe and stable investment hub. And our admission into the OECD [Organization for Economic Co-operation and Development] will be another step in this direction. We are determined to participate constructively in deciding where the global economy is headed,” the president stated.

Bolsonaro described the current international context as “reason for concern due to risks to trade and investment flows and the stability of energy and food supply chains.” In this connection, he noted, Brazil’s response is not to close its doors to the rest of the world, but to further economic integration.