For Immediate Release: May 4, 2010
Contact: Mary Trupo (202) 482-3809
U.S.-Brazil Commercial Dialogue Deepens Trade Relations
Sánchez Says Future Efforts to Highlight Innovation
BRASILIA – The United States and Brazil today announced an innovation-focused agenda that will guide future efforts to strengthen trade relations at the U.S.-Brazil Commercial Dialogue (Dialogue) which concluded today in Brasilia. Under Secretary of Commerce for International Trade Francisco Sánchez co-chaired the meeting with Brazil’s Secretary for Exports and Imports Welber Barral.
The Dialogue, which began 2006, features working groups comprised of experts from both governments that develop recommendations to advance bilateral trade and investment between the United States and Brazil. The two sides agreed to focus ongoing efforts to deepen commercial relations on five core themes: innovation/green technology, trade facilitation/business development, intellectual property cooperation, standards and metrology, and services and small- and medium-sized enterprises.
“Using this innovation initiative as a guide, the working groups will build upon ongoing market opening and cooperation efforts with a view to deepening U.S.-Brazil trade and investment ties that foster innovation, economic growth and job creation,” Sánchez said. “Our role is to bring these topics into the commercial and trade discussions – asking the questions how we can best support our businesses by creating a climate that encourages innovation, protects intellectual property, and supports standards that facilitate work between our countries.”
The United States and Brazil are deeply linked economically and commercially with a trading relationship valued at more than $46 billion. The United States continues to be the largest foreign investor in Brazil. The Dialogue is an important mechanism that facilitates communication and cooperation between the two governments.
“We are committed to keeping this dialogue energized and it will remain a high priority for both our governments,” Sánchez said. “Brazil is an important partner, and we look forward to doing more business together.”
The Dialogue is an example of the Department of Commerce’s International Trade Administration’s efforts to improve the global business environment and help U.S. companies and workers compete at home and abroad.
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