News ID: 168123
Published: 0304 GMT September 04, 2016

WTO sees more confidence in Brazilian economy

WTO sees more confidence in Brazilian economy

Director-general of the World Trade Organization (WTO) Roberto Azevedo said there was a perceived rise in confidence about the Brazilian economy after the impeachment of former President Dilma Rousseff this week.

"Political stability will return after the removal in the Senate of Dilma Rousseff and given the efficiency Michel Temer has shown as president," said Azevedo, who is a Brazilian, according to a statement released by the Brazilian government, Xinhua reported.

Following Rousseff's removal for fiscal irregularities, Azevedo emphasized that "it is the moment to return the growth with the measures being adopted by the Brazilian government. The numbers show the market is reacting in a very favorable way, with the growth perspectives being most obvious."

Temer and Azevedo met on Saturday in the eastern Chinese city of Hangzhou, where a G20 summit was expected to begin on Sunday.

The two men discussed Brazilian interests in the international context, including agriculture, sanitary regulations, digital trade and the inclusion of small and medium-sized enterprises (SMEs).

Azevedo said the Temer government is seeking to move closer to the WTO to become better integrated with the global economy, according to the statement.

Brazil also asked WTO intervention in disputes concerning agricultural tariffs around the world, develop a unique policy for tariffs internationally, and expand e-commerce and opportunities for SMEs.

Brazil's Senate on Wednesday impeached Rousseff for breaking fiscal laws in her management of the federal budget with an overwhelming majority 61-20 vote.

Temer, Rousseff's former vice president of the conservative Brazilian Democratic Movement Party, was sworn in as president through 2018.

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