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The Export-Import Bank of the United States (EximBank) and the Ministry of Economy signed this Tuesday (20) a memorandum of understanding that provides for the offer of up to US $ 1 billion in credit from the United States government to finance projects in the Brazil.
According to the president of Eximbank, Kimberly Reed, the governments of the two countries will work together to develop business in the areas of energy (nuclear, gas and oil), infrastructure, logistics and mining.
Brazil’s trade with the US fell to its lowest level in 11 years
The agreement also provides for the financing of the telecommunications area, including the implementation of fifth-generation mobile internet networks, the so-called 5G, which is the subject of disputes between the governments of the United States and China.
The United States has been pushing internationally for Huawei’s Chinese technology not to be used in the development of 5G networks on the grounds that it would pose a security risk to countries. Huawei denies the allegations.
The document was signed in a ceremony at the Itamaraty Palace by the Minister of Economy, Paulo Guedes, and by the president of Eximbank, Kimberly Reed. Also present were President Jair Bolsonaro and the US National Security Advisor, Robert O’Brien, who is part of the US government delegation visiting Brazil.
In the following video, Miriam Leitão explains what is behind the negotiation of the agreement.
Brazil and the United States sign agreements to improve trade; Comments from Miriam Leitão
In his speech, Bolsonaro affirmed that the signed memorandum shows that, more and more, Brazil and the United States are resuming the friendship that began in 1822. He also said that he supports the re-election of President Donald Trump.
“I don’t need to hide it, it’s from my heart. I don’t interfere. But from my heart and the respect I have for the American people and the work and consideration that Donald Trump had for us, [me] manifested that way at that time, ”Bolsonaro said.
“I hope, if it is the will of God, to appear at the inauguration of the president who will soon be re-elected in the United States,” he added.
Robert O’Brien, a US adviser, declared that the MOU is an agreement like “never seen before, a cutting-edge trade agreement that seals a partnership between Brazil and the United States.”
According to him, the financing of one billion dollars will be used, “especially”, in the area of telecommunications and 5G, “the new and modern telecommunications network that Brazil will soon have.”
The Minister of Economy, Paulo Guedes, in turn, said that the agreement with Eximbank comes at a time when investments in logistics, coastal transport, mining, oil and natural gas are being released in Brazil.
He recalled that the Brazilian government broke the tradition of appointing the president of the Inter-American Development Bank (IDB), but affirmed that the idea is to use these multilateral credit institutions as a “great connection” for transnational infrastructure projects in Latin America.
“We want to bring gas from Bolivia, gas from Argentina, we want to cross with all our grain production in the Midwest with a trans-Peruvian in all of Acre. Through the northern channel, grain production for Europe or Asia. We are in a great effort to get closer and open ourselves to the Brazilian economy ”, concluded the minister.
