Brasília, September 22, 2003 (Agência Brasil - ABr) - The Minister of Planning, Guido Mantega, described as "a normal move by big international market players," the eventual reactions of rich countries to Brazil's leadership in the G-22 (the group formed by developing countries just prior to the V Ministerial Meeting of the World Trade Organization (WTO), in Cancún, Mexico, to defend an end to protectionism and subsidies provided to agriculture by the rich countries). "Each country looks out for its own interests, and you have to join in blocs, because, if you work alone, you may become weak," the Minister affirmed.
In his view it was a great idea to create a bloc composed of medium and large countries with great potential, such as India, China, and Brazil, to fight on behalf of common interests in world trade. "These are continental-size countries that have a great capacity to absorb investments and engage in foreign trade, and this must have been disturbing," the Minister said. For him, evidently, the "big" players are attempting to react, but they will have to continue to negotiate.
Mantega also believes that the Brazilian position, both during and after the encounter in Mexico, will not provoke reprisals or a diminution in business transactions in multilateral or bilateral negotiations. "I don't see any problem. It is a normal reaction and will remain confined to the verbal arena."
The Minister, who gave an address on Friday (19) to British businesspeople at the Embassy of the United Kingdom, insisted on making it clear that there are two kinds of investors nowadays. One, which he criticized, is very concerned about competition from a "Brazil which is gaining markets," while the other considers the country attractive in terms of business prospects, offering good chances to make money.
"(The latter) is an investor who is beginning to realize that here his(her) business activities can prosper to a greater extent than in the United States and the European Union, where rates of return are lower," Mantega said.
For the Minister, this is an excellent situation, because investors, when they perceive that Brazil is currently more productive in various sectors and should become the world's largest producer of food goods in the next three to four years, will come here in search of profits. (DAS)
