Home Business Bolsonaro Promises to Support Embraer-Boeing Deal and Talks About Seeking Partnerships for Petrobras

Bolsonaro Promises to Support Embraer-Boeing Deal and Talks About Seeking Partnerships for Petrobras

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President-elect Jair Bolsonaro has promised to support an agreement between US-based Boeing and Brazil’s Embraer and said his government could sell areas of Petrobras and seek partnerships to keep its investments.

The agreement between Boeing and Embraer has been under discussion between the two companies for months, and the government of President Michel Temer has been waiting for the presidential election to come forward and present the partnership between the two manufacturers.

The merger of Embraer with Boeing continues without any problems and yes (I will endorse), Bolsonaro told reporters in his first interview as president-elect.

Prior to the Bolsonaro election, Defense Minister General Joaquim Silva and Luna told that the partnership would be taken to the transition group for consideration and approval in this administration.

After the election, the future Minister of Defense, general of the reserve Augusto Heleno, also said that he saw with good eyes the agreement between the two companies, but that he wanted to know the terms of what is to be sealed.

The government has a golden share at Embraer, which empowers it to approve and veto strategic issues for the company.

Petrobras

The president-elect also said that in his government he will seek partnerships for Petrobras to remain sustainable and capable of making the necessary investments.

Company was one of the main targets of the Lava Jato that discovered a series of deviations and irreguaridades in the management during the PT governments that took the company to a difficult situation. This year, the state-owned company returned to operating in blue.

Petrobras no longer has the capacity to invest, so it has to seek partnerships and sell some areas, Bolsonaro said, recalling that the lifetime of fossil energy may be in the days ahead of new technologies.

The president-elect also stated that he intends to keep the oil block auctions schedule in his future government, as the sector claims.

Bolsonaro kept the doubt about the merger of the Ministries of Agriculture and the Environment, but ended up saying that they can stay separate.

Prevention

The president-elect acknowledged that it is difficult for parliamentarians to approve pension reform this week, but said they can take advantage of the proposal that is already in the pipeline in Congress.

Nobody wants to do bad things to anyone, but some reforms, we have to obviously try to do them, Social Security is one. And it’s not the initial proposal as Temer wanted it, but you can take advantage of something from it, Bolsonaro told a news conference. I support the (Pension Fund) reform that can be approved by the House, right?

Bolsonaro said he would better analyze the latest version of the pension reform and that next week will be more on par to deal in the attempt to vote.

I know it’s almost a hangover after the elections, the parliament is emptied, the one who lost the election is further away from Brasilia, the winner is celebrating, so it has this difficulty to get a qualified quorum to approve a Proposed Amendment to the Constitution , said,

To be approved, a constitutional amendment needs the votes of 308 of the 513 MPs in two polling stations and 49 of the 81 senators, also in two polling places.

It’s not the proposal that I want, that Paulo Guedes wants, or whoever wants it, is the one that can be approved by the House, he added.