Brazil backs export agreement
Brazil’s government has signed up to an international scheme with a view to improving the global export market.
The Brazilian government has joined an international initiative designed to bolster the global export market.
Its involvement with the scheme could improve its economic standing which could be good news for people with property in Brazil.
Officials from the 29 Organisation for Economic Co-operation and Development (OECD) nations, together with authorities in Brazil, Russia, Israel and Estonia have reached an agreement to maintain support for export credit.
It is hoped the move will ensure that large-scale cross border trade continues at a time when an increasing number of countries are suffering from the effects of the economic downturn.
The OECD’s secretary general Angel Gurria told the Financial Times that emerging economies such as Brazil stood to benefit greatly from the new agreement.
"China, Brazil, Mexico … these are countries that export a lot but need a lot of imports in order to export. So you need to finance both sides of the ledger," he explained.
Exports, notably of biofuels, have played a major role in supporting the economic boom and growth in the Brazilian property market seen in recent years.
