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Impact of proposed U.S.-EU FTA too soon to tell: Brazil


14:17, February 19, 2013

RIO DE JANEIRO, Feb. 18 (Xinhua) -- It is too soon to tell the impact of a proposed free trade agreement between the United States and the European Union on Brazilian economy, Foreign Minister Antonion Patriota said Monday.

The impact will not necessarily be negative, since the country has been diversifying its export markets and boosting South-South trade over recent years, Patriota said.

"Brazil will not be at a disadvantage, because it is also always searching for advantages in foreign trade," he said.

Nevertheless, Patriota said Brazil would keep an eye on the negotiation of the free-trade agreement, since it is "no small matter."

The U.S. and the EU announced last week that they would launch formal free trade talks, which would pave the way for the biggest trade deal in history.

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