Brasília – Germany wants to raise its stake in enterprises for the FIFA World Cup 2014 and the 2016 Olympic Games. The information was supplied by the Brazilian Ministry of Development, Industry and Foreign Trade, which informed today (23rd) that he will receive a delegation of German businessmen next Tuesday (27th), with the objective of strengthening trade relations.
The mission will be headed by the German minister of Economics and Technology, Rainer Brüderle. Another intention expressed by the Germans is to take part in infrastructure works under the Growth Acceleration Programme (PAC) of the Brazilian federal government, such as the high-speed train linking Rio to São Paulo.
Brüderle’s meeting with the Brazilian minister of Development, Miguel Jorge, and businessmen from the two countries will be held at the Itamaraty palace, the seat of the Brazilian foreign ministry. Last year, trade between Brazil and Germany dropped sharply because of the international financial crisis. Figures supplied by the Foreign Trade Secretariat (Secex) show that trade between the two countries recovered well in the first quarter of the year, asd bilateral trade totalled US$ 4.29 billion, representing growth of 33.5% compared with the figure recorded in the same period of last year, which was US$ 3.2 billion.
The balance of trade is unfavourable to Brazil, with a deficit of US$ 1.05 billion. Whereas Brazilian exports to Germany totalled US$ 1.62 billion during the quarter, representing growth of 31.7% over the same period of 2009, Brazilian imports from Germany totalled US$ 2.67 billion, representing growth of 35%.
The most traditional sectors in trade relations between Brazil and Germany are mechanical engineering, the auto industry, electronic products, and chemicals and pharmaceuticals. More recently, the areas of power generation, infrastructure, security, medical assistance, and oil and gas exploration and production have gained importance as well.
Foreign direct investment from Germany in the Brazilian productive sector recorded significant growth in 2009, with an increase of 138.5% in comparison with 2008, having risen from US$ 1.03 billion to US$ 2.47 billion, according to data supplied by the Brazilian Central Bank.
*Translated by Gabriel Pomerancblum
