Brasília, November 19, 2002 (Agência Brasil - ABr) - Minister of Development, Industry, and Foreign Trade, Sérgio Amaral, recalled today, at the Parliamentary Summit on Continental Integration, in the Chamber of Deputies, that the current administration's economic policies lowered the foreign accounts deficit from US$ 33 billion in 1997/98 to US$ 8 billion/US$ 9 billion this year.

Amaral also observed that the leverage provided by exports is a priority for all of Latin America, a region which will experience negative growth of around 1% this year and which faces world economic stagnation and protectionist pressures. He also referred to other "serious and difficult threats" to the region, such as the volatility and crises of the financial market.

For the minister, in the current context of uncertainties, it is difficult to prejudge the results of negotiations on the Free Trade Area of the Americas (FTAA). "It seems sensible to me that we prepare ourselves adequately for the negotiations," he recommended.

Amaral also calls for an ample assessment of the impacts that agreements with large economic blocs will have on the Brazilian economy and job market. To this end he already ordered a study that should be released early in December. (DAS)