Emphasising that recovery in the developed world would help emerging markets, Brazilian President Dilma Rousseff today said nations should overcome defensive postures in global trade for economic growth.
Rouseff, while addressing the World Economic Forum (WEF), also said that her country is "well-prepared to face the tapering of monetary stimulus by developed countries."
Pitching for trade liberalisation, she said that it is time to "overcome defensive postures and recognize the role of international trade in the global recovery".
According to her, in the long run the economic recovery in the developed world would only help emerging markets.
Even though tighter monetary policy in the developed world may cause some short-term volatility for emerging markets including Brazil, she said her nation is "well-prepared with over USD 370 billion in foreign reserves."
In recent times, there have been concerns over the impact that tapering of monetary stimulus by the US would have on fund flows into emerging markets like Brazil and India.
Meanwhile, seeking more foreign investments into the country, Rousseff said her country needs and wants a partnership with the private sector.
The President also asked investors to look beyond short-term economic performance and focus on long-term developments.
The growth of a new consumer class, combined with macroeconomic stability, provides rich opportunities for investment, she added.
According to her, the development of petroleum deposits, as well as need for improved motorways, ports, railways, urban transport and urban sanitation, creates huge opportunities for foreign investment.
