Rio, June 22, 2004 (Agência Brasil) - The exchange of information among Brazilian and foreign pension funds has contributed to the foreign market's growing interest in Brazil. This is the view of the president of the Petrobras Social Security Foundation (Petros), Wagner Pinheiro. He explained that, since last year, directors of Brazilian funds have made frequent trips abroad.

According to the figures for this March, compiled by the Ministry of Social Security's Secretariat of Complementary Security, pension fund investments in Brazil amount to US$ 70 billion, the equivalent of 16.2% of the Gross Domestic Product (GDP). The relationship between investors from Brazil and other countries should be enhanced at the 2nd International Pension Funds Seminar, which will occur July 6-7 in Rio de Janeiro.

The prospects and new directions in this area, as well as the state of the economy, will be debated at the meeting. The head economist at Goldman, Sachs & Inc., Jim O'Neill, will present the results of a study the consultancy firm did of the world economy through 2050, highlighting the performances of Brazil, Russia, India, and China.

The Minister of Finance, Antônio Palocci, and the president of the Inter-American Development Bank, Enrique Iglesias, will discuss Emerging Markets, emphasizing fiscal policy, investments, and sustained development in Brazil. The Minister of Planning, Guido Mantega, will explain the Public-Private Partnership (PPP) projects, which are attracting the interest of domestic funds in terms of new investments.

Reporter: Cristina Indio do Brasil
Translator: David Silberstein