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United States and Brazil Hold Third Meeting of the Commission on Economic and Trade Relations

pic 2Washington, DC - During the ministerial session, held in March, the Ministers held in-depth discussions on Brazil and US respective approaches to trade and investment negotiations, which provided an invaluable opportunity to exchange information and identify points of convergence.

Brazil is the United States’ 12th largest goods trading partner, and two-way goods trade was $59 billion in 2015. The U.S. goods trade surplus with Brazil was $4.3 billion in 2015.  Two-way goods and services trade totaled approximately $95 billion in 2015.

Minister Mauro Vieira highlighted the importance of the U.S. market for Brazilian exports, in particular of manufactured goods, which "clearly demonstrate the competitiveness of the Brazilian industry and the integration of value chains between our two countries". Industrial goods answered for over 60% of our 2015 exports to the U.S. – a noted improvement vis-à-vis the 53% reached in 2014.  The Minister stressed that "notwithstanding the importance of traditional agriculture exports to the United States – which we certainly like to expand significantly, with more exports of meat, sugar and fruits, for instance – our first three main exports to the US are Machinery, Airplanes, and Iron and Steel products."  

 “The United States and Brazil have a large and dynamic trade and investment relationship, and we have the potential to do even more together to stimulate economic growth and create more jobs in both our countries,” Ambassador Froman stated.

The next meeting of the Commission will be held in Brasília in 2017.

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