Japan Signs Deals to Strengthen Economic Ties with Brazil, Latin America

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RIA Novosti, PUBLISHED 05.08.2014

Japan on Saturday signed deals on topics, ranging from energy to food and health care, during Prime Minister Shinzo Abe’s visit to Brazil as a part of his nine-day tour to Latin America, Bloomberg reported on Monday.

“Latin America has a large presence on the international stage and is an indispensable partner, in my vision of diplomacy,” Abe said in his speech during the Japan-Brazil Economic Forum last Saturday.

The relationship between Japan and Brazil dates back to the 1950’s, when Japan helped Brazil to establish various industries, such as iron ore production. Brazil also hosts to the largest Japanese community outside of Japan. Currently, China is Brazil’s largest trading partner, with Chinese President Xi Jingpin preceding Abe’s visit to Brazil.

The Japanese prime minister’s nine-day tour included Mexico, Trinidad and Tobago, Colombia and Chile before heading to Latin’s America’s largest economy, Brazil.

In Mexico Abe concluded energy deals, including one between state oil firm Pemex and Japan’s development bank, and another between Pemex and the Japan Oil, Gas and Metals National Corporation.

Last Thursday Abe signed in Chile a series of agreements in the areas, ranging from mining to minimizing damage from earthquakes.

Brazil was the highlight of the tour, with top representatives from Toyota Motor Corp., Nippon Steel & Sumitomo Metal Corp. and Sumitomo Mitsui Financial Group Inc. accompanying the prime minister.

Despite a slowdown in the economy, economic surveyes of Bloomberg have forecast the South American nation’s gross domestic product to grow 1.3 percent this year after an expansion of 2.5 percent in 2013. Japan’s economy is expected to grow 1.5 percent this year.

Topics: Asia, Japan

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