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In July, the Brazilian city of Fortaleza hosted the annual German-Brazilian Economic Meeting. The three-day conference focused mostly on cooperation in infrastructure and energy projects such as wind and hydro-powered generation, bioethanol and biodiesel.
During the event, which attracted more than 800 executives and government officials from both countries, Germany pledged US$1bn in investments in Brazil, of which ThyssenKrupp will shell out US$700mn to build a steel mill in the state of Rio de Janeiro. Up to US$400mn will be applied to port projects within Brazil, while energy projects will be earmarked as much as US$100mn.
Workshops on the automotive industry, biotechnology, mechanical engineering and climate cooperation were also held.
The meeting was promoted by the Federation of German Industries (BDI) and the Brasilia-based National Industry Confederation (CNI). It is held every year either in Brazil or Germany.
The German-Brazilian Agribusiness Initiative, a working group that meets three to four times a year, tackled biotechnology, biodiesel, ethanol, food processing, sanitary and phytosanitary measures and fertilisers.
The German-Brazilian Initiative for Cooperation in the Energy and Infrastructure Sector also gathers three times a year and covers issues such as hydropower and renewable fuels, logistics and transportation infrastructure.
“We aim to develop Brazil’s agricultural industry and add value with the utilisation of German technology,” says Sigrid Zirbel, responsible for North and Latin American relations at BDI. She adds: “We expect Brazil’s agricultural sector to boom further and we are convinced that the German industry has something to offer.”