Seoul – The government of president elect Dilma Rousseff should further stimulate foreign trade, as recommended on Thursday (11) by president Luiz Inácio Lula da Silva on arriving in Seoul, South Korea, where he is participating in meetings at the G20 Summit, which brings together the 20 main global economies. In the sidelines, Lula said that Brazil should react to the isolated reactions of the United States and China, who have devaluated their currencies.
"Our main fight is with the United States and China. It is not possible for the exchange war to remain as it is," said the president. "What we want is for the United States to appreciate their currency and not depreciate it as they are now doing," he added, recalling that depreciation of the dollar results in an imbalance in the global economy.
The president pointed out that Brazil has adopted adequate measures to stunt the advance of the global financial crisis. "Brazil is already taking the measures it had to take. Brazil cannot fear fostering foreign trade. We can export more next year."
According to Lula, the government of Brazil should proceed with its part as a travelling salesman to promote country products abroad. According to him, the operation cannot be passive. "We will not sell if we sit in Brasília and cry. We must show our products as if they were in a bag."
The president defended the return to discussion of the suggestion made by Finance minister Guido Mantega that other currencies, apart from the dollar, should be adopted for commercial transactions. Lula said that the Bric countries – Brazil, Russia, India and China – are seeking alternatives to use of the dollar.
"Ever since last year, we are calling on the Bric to replace the dollar in transactions. What is necessary is to work to convince them," he said.
*Translated by Mark Ament
