Brazil and the United States to Cooperate on Job-Creating Investments
February 7, 2014
(ITA)
Department of Commerce SelectUSA and Apex-Brasil cement agreement to promote
increased investment
BRASILIA, Brazil – Acting Under Secretary of Commerce Ken Hyatt and Brazilian
Trade and Investment Promotion Agency (Apex-Brasil) Director of Corporate
Management Tatiana Porto today signed an a Memorandum of Intent (MOI) on behalf
of SelectUSA, a Presidential initiative housed in the U.S. Department of
Commerce, and Apex-Brasil. Under this MOI, SelectUSA and Apex-Brasil intend to
work together to encourage investment between the two countries. The more than
76,000 U.S. workers employed by Brazilian companies doing business in the United
States underscore the importance of this agreement. The signing took place at
the conclusion of the 11th plenary session of the U.S.-Brazil Commercial
Dialogue.
SelectUSA is the first U.S. government-wide program to promote and facilitate
business investment. Apex-Brasil similiarly works to attract foreign direct
investment (FDI).
“We are excited about this opportunity to work together with Apex-Brasil.
Brazilian firms are increasingly making job-creating investments in the United
States,” said Hyatt. “Foreign direct investment is about mutual success –
Brazilian firms that succeed in the world’s largest market can create more jobs
in both countries. Our team at SelectUSA looks forward to welcoming more
Brazilian investors and assisting them as they establish their operations in the
United States.”
FDI from Brazil into the United States has been growing rapidly. At the end of
2012 – the latest year for which numbers are available – the total stock of
Brazilian FDI in the United States stood at $14 billion, nearly 10 percent
higher than in 2011. U.S. subsidiaries of Brazilian firms exported $5.7 billion
of goods from the United States in 2011.
“The United States is a priority market for Brazil, not only by its size and
global importance - which are indisputable - but also by the historical ties
that bind the two nations and their peoples,” said Porto. “This Memorandum of
Intent between Apex-Brasil and SelectUSA reinforces the bilateral relationship
between these two nations and will certainly foster bilateral foreign direct
investment.”
Many U.S. firms are also succeeding in the Brazilian market. In 2012, the stock
of FDI from the United States into Brazil totaled $79 billion.
The U.S.-Brazil Commercial Dialogue was established in 2006 with the goal of
fostering improved cooperation between the Department of Commerce and the
Brazilian Ministry of Development, Industry, and Foreign Trade, with the mutual
goal of increasing bilateral trade and investment. The Dialogue focuses on
developing better mutual understanding and developing win-win strategies. Since
the previous session in February 2013, officials from the Department of Commerce
and the Brazilian Ministry of Development, Industry and Foreign Trade have been
working together on a variety of technical issues important to the flow of
bilateral trade, including trade statistics, movement of goods and services,
capacity building for trademark processing, a wide range of standards issues,
and FDI.
The MOI fulfills a key commitment of the U.S.-Brazil Commercial Dialogue and
reinforces the strong commercial relationship between the two countries. Under
the terms of the MOI, both parties will seek to act as central points of contact
for existing and potential foreign investors who seek investment opportunities
and information on bilateral investment flows. The parties will seek to provide
assistance to investors in contacting appropriate investment and industry
experts in the United States and Brazil.
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