Press Release

U.S. Welcomes CEO Recommendations to Strengthen U.S.-Brazil Economic Relationship

BRASILIA, BRAZIL—U.S. Secretary of Commerce Carlos Gutierrez and National Economic Council Director Allan Hubbard today welcomed the report of the U.S.-Brazil CEO Forum, agreeing to consider its recommendations aimed at strengthening the economic and commercial ties between the United States and Brazil.

“The Forum provides a unique opportunity to harness the energy and expertise of private sector leaders and adds a critical voice to the bilateral dialogue,” said Gutierrez. “I thank the CEOs for their service and thoughtful ideas. It is critical that the United States and Brazil maintain effective dialogue between business and government in shaping improvements to the investment climate and supporting a pro-growth economic agenda. By building trade and investment, we will grow together.”

At today’s inaugural session of the U.S.-Brazil CEO Forum, twenty top Brazilian and American business leaders provided the two governments with their report of joint recommendations. Planalto Casa Civil Minister Dilma Rousseff, Minister of Development, Industry and Foreign Trade Miguel Jorge, Secretary Gutierrez and Director Hubbard jointly accepted the CEO Forum’s report on behalf of their respective governments.

“The Forum today provided specific recommendations for the U.S. and Brazilian governments on steps we can take to grow ties between our two countries,” said Hubbard. “In particular, they identified mechanisms such as a bilateral tax treaty that would promote investment and trade. The CEOs also made recommendations on other areas for focus, including investment protection, infrastructure, biofuels, customs modernization and support of innovation through intellectual property protection.”

The U.S.–Brazil CEO Forum was announced by Presidents Bush and Lula during their March 31st Camp David meetings. This inaugural meeting is the first in a series in which the Brazilian and U.S. governments will partner with the private sector to make progress towards strengthening our bilateral economic and commercial relations, promoting bilateral trade and investment, increasing our competitiveness in global markets and advancing economic prosperity for the people of both our nations. It is a unique forum – India is the only other country the United States has a CEO Forum with – reflecting the important Brazil relationship and the potential for a significantly strengthened ties.

The United States and Brazil intend to reconvene the CEO Forum in the United States in mid 2008. In the intervening time period, the Governments will communicate on how to best move forward with the CEO recommendations.