Tuesday, July 15, 2014

Brazil/Russia: Why Is It That We See the United States Left at the Starting Gate on Bilateral Trade?

According to The Latin American Tribune, Brazilian President Dilma Rousseff and her Russian counterpart, Vladimir Putin, confirmed on Monday (July 14) their goal of doubling bilateral trade with each other will be $10 billion a year!

Rousseff received Putin in Brasília the day after both attended in Rio de Janeiro the final of the World Cup, which in 2018 will be hosted by Russia.

The meeting was previous to the 6th Summit of the BRICS group of emerging or newly industrialized countries, of which Russia and Brazil are members together with India, China and South Africa, and which will be held on Tuesday (July 15) in the northeastern city of Fortaleza.
In 2013, the value of Brazil-Russia trade was $5.56 billion, 2.2% less than in 2012, but according to both leaders, the goal of doubling that figure could be reached in short order.

Toward that end, Brazil and Russia signed Monday an accord by which they plan to boost trade through the promotion of mutual investments.

“Brazil offers innumerable opportunities in infrastructure and energy,” Rousseff said at a joint press conference with her Russian guest.

COMMENT: Interestingly, everyone other than the United States these days seems to be making bi-lateral and multi-lateral trade deals with the possible  exception of Washington, which seems to increasingly impotent of its own making.

Mired in a growing number of scandals and political missteps of President Obama's own making, particularly the flood of tens of thousands of immigrants that are clogging the US-Mexican border states as they continue to be brought onto US soil by "coyotes" at $8,000 a head!

Sadly, this self-generated crisis the President has created for himself was so-oooo avoidable, if he had only acted PROMPTLY. A decisive decision-maker he is not.

What the President seems to be telling law-abiding US citizens is that he cares more for illegals than he does for US taxpayers.

In the meantime, the US is very quickly becoming yet another banana republic simply because of the exceptional reputation we once had.

On the trade front, Putin suggested exploring the possibility of a cooperation agreement between the Union of South American Nations and the Eurasian Economic Union, made up of his country, Belarus and Kazakhstan.

Presidents Putin and Rousseff also signed at the meeting were another seven accords in the areas of defense, education, energy cooperation, gas, healthcare, science and technology.

The two leaders likewise agreed to continue negotiating Brazil’s possible purchase of $1 billion in Russian anti-aircraft defense systems.

Rousseff assessed the alternatives to be offered by the development bank that will be founded by the BRICS group during its imminent summit.