Clinton: Brazil, US Can Deepen Ties With Trade, Investment Pacts

Date : 04/16/2012 @ 1:42PM
Source : Dow Jones News
Stock : Cisco Systems, Inc. (MM) (CSCO)
Quote : 31.84  -0.02 (-0.06%) @ 8:00PM

Clinton: Brazil, US Can Deepen Ties With Trade, Investment Pacts

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Brazil and the U.S. have room to deepen already strong ties through new investment and trade initiatives, U.S. Secretary of State Hillary Clinton said Monday.

Speaking at an event at Brazil's National Confederation of Industries, or CNI, Clinton said the economic relationship between the two countries was in its early stages.

"I believe our opportunities for greater investment, growth, trade and jobs are only now beginning to be tapped," she said.

Clinton said Brazil had recently appeared on the world stage as an "economic dynamo" and that a good relationship with the country was increasingly important for economic growth and development throughout the region.

Clinton said that among government initiatives available to help improve trade and investment was completion of a pending treaty to cut dual taxation.

She also said the two governments needed to explore the possibility of investment treaties and a free trade agreement.

"A vibrant private sector is good not just for business, but for people," she said.

The secretary noted that U.S. companies such as Microsoft Corp. (MSFT) and Cisco Systems Inc. (CSCO) had taken initiatives to increase investment locally and called for further investment.

She also said that improved job training initiatives by both countries were important for improving levels of employment.

Clinton is in Brazil on a two-day visit to discuss bilateral cooperation and open-government initiatives.

-By Gerald Jeffris, Dow Jones Newswires; (5561) 9162-7863, gerald.jeffris@dowjones.com

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