MercoPress. South Atlantic News Agency

Plan to support Brazilian industry from foreign protectionism to be announced August 2

President Rousseff in Porto Alegre promised to act boldly

Brazil’s president Dilma Rousseff announced Thursday night the launching of a new plan aimed to boost and protect Brazilian industry against international competition and at the same called for a technological development leap forward.

The plan, according to Brazil’s leader is aimed towards the increase of local production and battles foreign protectionism. Emphasis will be put on productive development based on technological innovation and strengthening Brazil’s position in world trade.

“We will consistently fight protectionist practices, unlawful, fraudulent on world trade, affecting directly our products” said President Rousseff in Porto Alegre, during a ceremony at which new authorities of Rio Grande do Sul industries federation (Fiergs) took office.

The president remarked that the new plan is to be launched August 2nd and targets commercial tensions with Europe and the United States. “The Brazilian government is determined to act boldly and with no time to loose” Rousseff underlined.

“Competition forces us to strengthen our industry, a joint venture between the State and the private sector to boost our competitive conditions and edge” she said. The president promised that “our plan will increase local components in manufactures, a very decisive factor”.

Rousseff also vowed to carry out tax reforms and credit expansion for the industrial sector badly hit by Real 100% overvalue to the dollar in the past ten years.

Brazil’s president explained that the plan basically addresses the “world economic unbalance” which causes inflow capital pressure on emerging markets, putting weight on inflation and the exchange rate.

“The government of Rio Grande do Sul and their very dynamic industry will play a leading role in this new chapter of Brazil’s development and they will have in the federal government a dedicated partner”, said Rousseff on congratulating the incoming Fiergs president Heito Müller.

The Brazilian president also called on industry leaders to create “an army of young qualified Brazilians” to address an era of technological development and innovation.
“Brazil will only grow if it counts with a sophisticated industry capable of creating quality jobs for millions. Our destiny is to become one of the great economies of the XXIst century but with an educated population that makes us proud of living in a fair and just country with social inclusion”, said the Brazilian president.