Media release
Australian Minister for Trade, Mark Vaile
September 02, 1999
Take a close look at Brazil
Trade Minister, Mark Vaile, has urged Australian companies to take a close look at Brazil.
Speaking during his first visit to the South American giant (Aug 30 - Sept 1), Mr Vaile said he was impressed by Brazil's scale and levels of activity.
"Brazil is a large, diverse and emerging economy that offers a vast range of new commercial opportunities for Australian exporters. Sao Paulo, the industrial heart of Brazil, has a population equal to Australia's. There are commercial opportunities everywhere and, while there's a long way to go, Australians are beginning to make their mark," Mr Vaile said.
Mr Vaile said: "Brazil's privatisation and modernisation program in telecommunications, oil and gas and power opens up an economy to modernisation and foreign participation. This will promote growth in Brazil and open up markets for Australian exports."
Australian firms have been quick to take advantage: telecommunication equipment has become Australia's third largest export to Brazil behind coal and passenger motor vehicles. Exports of telecommunication equipment have risen to A$17.5m in 1998-99, climbing from a modest A$152,000 in 1994-95 and A$2M in 1997-98.
During his visit to Sao Paulo, Mr Vaile opened a new Australian education office - IDP Education Australia that's helping to capitalise on the significant interest in Australian education services in Brazil.
Mr Vaile said a good example of Australia-Brazil cooperation was Securency Pty Ltd - a joint venture involving the Reserve Bank of Australia - that will soon see Brazilians spending Australian developed plastic bank notes. He added that the soon-to-be opened QANTAS office in Brazil would promote greater contact between Australian and Brazilian business people.
In Brazil, Mr Vaile met External Relations Minister, Felipe Lampreia, the Minister for Agriculture and Supply, Dr Pratini de Moraes and the Minister for Development, Industry and Trade, Dr Clovis Carvalho. He also met Brazilian business leaders and the Brazil-based Australian business community.
Brazil is the world's eight largest economy with a GDP of US$760.3bn (1998). Brazil is ranked 32nd among Australia's trading partners and is our largest trading partner in South America. Two-way merchandise trade reached A$736.7m in 1998-99.