Brazil’s Rousseff launches plan to boost and protect national industry

Brazil’s president Dilma Rousseff announced last night the launching of a new plan aimed to boost and protect against international competition Brazilian pungent industry. The plan, according to Brazil’s mandate, is aimed towards the increase of local production and battles foreign protectionism.

“We will consistently fight protectionist practices – unlawful, fraudulent on world trade – affecting directly our products,” Rousseff affirmed while talking to an industrial leader’s crowd in Porto Alegre, south of Brazil.

The president stressed that the new plan is to be launched on August 2nd and targets commercial tensions with Europe and the United States. “The Brazilian government is excited to act boldly and with no time to loose,” Rousseff remarked.

“Competition forces us to strengthen our industry, a joint venture between the State and the private sector to boost our competitive conditions,” she said.

“Our plan will increase local components in manufactures, a very decisive factor.” Rousseff also vowed to carry out tax reforms and credit expansion for the industrial sector badly hit by real’s 100% overvalue to the dollar in the past ten years.

Brazil’s president also explained the plan addresses the “world economic unbalance” which causes capital pressure on emerging markets, putting weight on inflation and exchange rates.