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Chamber of Commerce | The Yanks Are Coming

Screenshot from 2013-11-05 09:26:22

Source: Folha de S.Paulo

Arriving today in Brasilia is the first major mission of U.S. business executives since the scandal and falling-out over the spying scandal and the cancellation of the state visit by President Rousseff, in September.

Executives from 27 major U.S. companies, members of the Brazilian-American Business Council, are part of the annual mission of the powerful U.S. Chamber of Commerce. A number of ministries will receive visits

The delegation hopes to show that U.S. business sees Brazil as “a long-term partner” and serve as “bridge” during a historical moment in which bilateral political relations are considered “icy” … 

The defense sector is the most thoroughly represented, with Lockheed Martin, Raytheon and Boeing, among others, reprising an April mission dedicated exclusively to military hardware, with 13 companies represented.

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The energy, technology, pharmaceuticals and food sectors are also taking part, with the presence of such companies as Coca-Cola, Cargill, Exxon, Westinghouse, Eli Lilly, Shell and Qualcomm.

The retinue has dwindled slightly — last year, the commission was represented by 52 executives from 25 companies. In 2011, coinciding with state visit by Obama, 33 companies were represented. This time, 32 executives from 27 companies will attend.

Translation in progress.

“The vision of the Brazilian-American Business Council is that of a long-term relationship between two nations who have in common a business community that drives progress,” the president of Boeing in Brazil, former ambassador Donna Hrinak, who is heading the mission.

“Among the topics of discussion will be tools that till contribute to the further  evolution of this relationship, such as an accord on double taxation and facilitating the flow of people from one country to another,” Hrinak said. 

The Right Reforms

The BABC, part of the U.S. Chamber of Commerce, has 112 members and was created 38 years ago. Only members are eligible to attend the mission.

In recently weeks, Brazil has been the target of criticisms from the U.S. business community — unrelated to the spying scandal, but criticizing what is called state intervention or the fall of Eike Batista. Last month, Mohamed El-Erian, president of Pimco, the world’s largest investment fund, said in New York that “unlike Mexico,” which was realizing the “right” reforms, Brazil “has returned to her former habit” of state intervention. 

Last week, “The Economist” said that the reputation of Brazil has suffered with the collapse of the X group of Eike Batista. 

“It gives you the impression that there is something weird about Brazil,” said Mark McHugh, from the energy-focused investment bank OFSCap, to the British weekly.

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