Policy Proposals Latin America and Caribbean Brazil Japan Joint Business Statement
On the occasion of the official visit to Brazil by the Prime Minister of Japan, Mr. Shinzo Abe, the Brazilian National Confederation of Industry (CNI) and Keidanren held a meeting in Brasilia of business leaders from both countries with his Excellency. CNI and Keidanren discussed priorities in bilateral economic cooperation in order to help maximize the potential economic growth as well as to give new impetus to bilateral relations. Particular attention was given to trade, investment and infrastructure, and bilateral cooperation opportunities.
Brazil and Japan bilateral economic relations have shown an important revitalization during recent years. Trade relations have been expanding with the bilateral flow reaching US$ 15 billion in 2013. This has been also particularly due to the significant increase of Japanese investments in Brazil in the automotive, electronics, steel, shipbuilding among others industries. Investment plays a strategic role in Brazil -Japan economic relations with more than 450 Japanese companies operating today in Brazil. Conversely, Brazil must still step up efforts to look outward and foster investments in Japan to strengthen the relation.
But much more is needed to boost bilateral economic relations. Therefore CNI and Keidanren agreed on the following priorities:
To discuss at the 17th Japan-Brazil Joint Economic Meeting, to be held in Tokyo, in September a joint proposal for an Economic Partnership Agreement to be submitted to governments from both sides.
To work together with governments to improve the business environment by ensuring greater openness and transparency.
To work together to strengthen the multilateral trading system through the conclusion of the Doha Round and definition of a new WTO agenda.
To foster cooperation in the area of infrastructure including in oil and gas, electricity, railways, ports, ITC and smart cities among others.
Brazilian and Japanese business call on the political leaders to continue to move forward with integrating the two economies to ensure sustained growth.