Deputy United States Trade Representative Miriam Sapiro traveled to New York yesterday to discuss the U.S. – Brazil trade relationship with members of the Council on Foreign Relations (CFR) at their headquarters. The event, entitled “Brazil’s Role in the Global Economic System,” was part of CFR’s Global Brazil Initiative and sought to explore Brazil’s rising global economic aspirations, trade agenda, and role in multilateral economic institutions.
Ambassador Sapiro discussed the importance of the U.S. - Brazil trade relationship, as Brazil is not only the largest economy in Latin America, but also the region’s largest market for American exports. U.S. exports to Brazil are growing at a faster rate than exports to the rest of the world. As such, Brazil can play an important role in the President’s National Export Initiative, which aims to double exports over the next five years and support two million new jobs. In order to increase exports to Brazil and further deepen the economic relationship, Ambassador Sapiro explained the need to urge Brazil to take action on reducing technical barriers to trade, protecting intellectual property rights (IPR), and enabling a successful completion of the Doha round by making market access contributions commensurate with its growing role in the world economy.
Finally, Ambassador Sapiro described how USTR is engaging with Brazil on a multitude of levels. The two countries recently signed a framework regarding the Cotton dispute (link to release) and have begun initial discussions on negotiating a Trade and Investment Framework Agreement (TIFA). In addition, she highlighted that next week United States Trade Representative Ron Kirk will participate in the U.S. – Brazil CEO forum in Denver, where he will speak with leaders from business and government about the importance of the partnership between the two countries. More information about Ambassador Kirk’s trip can be found here (link).
Ambassador Sapiro engages in a conversation about the U.S. – Brazil trade relationship at the Council on Foreign Relations. Goods and services trade with Brazil totaled $80 billion in 2008. Brazil is the largest market for U.S. exports in Latin America, and the 10th largest goods export market overall.
