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Almeida: “Extremely high trade surpluses not necessarily good”

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Mansueto Almeida, secretary of Economic Affairs of the Ministry of Finance, said Tuesday (Nov.7) that extremely high trade surpluses like the ones presented by Brazil should not be a source of pride, as it reveals the country’s poor integration with the rest of the world. ”

The secretary said that if the Brazilian industry wants to be more competitive, it needs to increase its degree of integration with the rest of the world. He presented Embraer as a successful case study, as the company is the largest exporter of high technology products in the country and at the same time it imports a lot. “We have to stop with this story of demonizing importation and trade openness.”