News from Brazil

Politics & Government

In Brazil on November 12, 2010 at 11:34 am


As Brazil’s President-elect Dilma Rousseff gets ready to take the helm of Latin America’s largest economy on New Year’s day, speculation is rife about who she will pick for finance minister and central bank chief. Read the possible scneario’s for whom becomes finance minister at Reuters.

Brazil has room to raise the country’s minimum wage next year more than the 5.5 percent increase the government is proposing, said Senator Gim Argello, the lawmaker sponsoring the 2011 budget bill in Congress (Bloomberg).

Brazil’s President-elect Dilma Rousseff is unlikely to ratify central bank President Henrique Meirelles in his post, mainly because of Meirelles’ aversion to cut interest rates rapidly, O Estado de S. Paulo newspaper reported (Reuters).

Luciano Coutinho would like to stay on as president of Brazil’s state development bank after President-elect Dilma Rousseff takes office Jan. 1, Veja magazine reported. Coutinho is among candidates being by considered Rousseff for key positions in her Cabinet (Bloomberg).

Brazilian Vice President Jose Alencar is in stable condition at Sao Paulo Sirio Libanes Hospital after suffering a heart attack (Bloomberg).


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Britain is to support Brazil’s campaign to be named a permanent member of reformed UN security council as part of a Foreign Office drive to transform trade and diplomatic ties with Latin America (Telegraph).

Mexico and Brazil are starting negotiations on a free trade agreement between Latin America’s two largest economies (Business Week).

China and Brazil may expand an oil- for-loans program to intensify energy cooperation, China Business News reported (Bloomberg).

The Interoceanic Highway, connecting Brazil to Peru, should be inaugurated in early 2011, said the first class minister Carlos Alfredo Lazary Teixeira (Senado Federal).

Lula, who is in the final weeks of his presidency, is bidding farewell to Africa, the continent he made a foreign policy priority during his eight years in office. The number of Brazilian embassies in Africa has more than doubled to 35, while bilateral trade increased fivefold to $26bn (£16bn) last year (BBC).

Under Lula’s watch, Brazil-Turkey political and economic ties have flourished, and cooperation has strengthened. Petrobras, Brazil’s oil giant, has begun collaborating with the Turkish Petroleum Corporation (TPAO) in the Black Sea, and Turkish companies are increasingly eyeing the Brazilian market. In addition, Lula and Turkish Prime Minister Recep Tayyip Erdoğan have both agreed on the necessity to challenge existing geopolitical paradigms and involve new players to address global challenges more effectively Oliver Stuenkel in Post-Western World).

South Korean President Lee Myung-bak and his Brazilian counterpart Luiz Inacio Lula da Silva pledged to bolster bilateral trade and investment. The two presidents made the pledge during their talks on the sidelines of the G20 Economic Summit in Seoul, according to Lee’s office Cheong Wa Dae (Xinhua).

An Internet portal will bring together information about companies in India, Brazil and South Africa, aiming to transform Indian companies and South African in Brazil integrative solutions in their projects in both the U.S. and Europe and Asia. The project is the result of an agreement of national export promotion in Brazil and India’s Nasscom, which brings together 1300 members and South African BPES, with 220 others (India-Brazil Chamber).



Brazil’s North East is home to a large international airforce exercise called Cruzex V. The maneuvres boast their own website in English where you can follow the developments. The French are there too, showing off a couple of  their state-of-the-art Rafale fighters, that it hopes to sell to Brazil any moment.

France has asked to have bilateral talks with Brazil on the sidelines of next week’s G20 summit in South Korea over Brasilia’s long-running multi-billion-dollar tender to buy 36 new fighter jets (DefenseNews).

According to DefesaNet, Rafale International has already signed letters of intent for 67 projects with 38 Brazilian companies and organizations representing more than 160% of contract value of the aircrafts. Embraer engineers have participated in meetings in Brazil and France to detail the cooperation between the consortium and the Brazilian industry. Rafale International also offers industrial and technological cooperation for the development of the military transport aircraft KC-390 for which the French government has already pledged to buy a dozen units (DefesaNet).