Minister Counselor Richardo Monteiro – Trade with Brazil
The new Brazilian Ambassador, as of March 1st, was the former Foreign Minister. Trade relations with the US is a very important Brazilian agenda. Trade Minister Richardo Monteiro talked about the Brazilian economy (the largest in South America) and trade with the US and other countries. Brazilian investment in the US is 3/1 over US investment in Brazil. Deep water drilling in Brazil is profitable at global oil price of $45 per barrel. Brazil exports oil but imports refined gas, because of insufficient refining capacity. Foreign bidders are accepted for infrastructure building and oil drilling. Brazil’s export to China is mostly commodities, though export of manufactured goods is robust to other countries.