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Lula: Protectionism only to worsen crisis
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10:32, February 18, 2009

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Protectionist measures would only serve to worsen the current international financial crisis, and must be fought against, Brazilian President Luiz Inacio Lula da Silva said on Tuesday.

Lula made the remarks in Brasilia during the signing of several cooperation agreements with his Colombian counterpart Alvaro Uribe.

The president said he will keep on defending the free trade, and hoped neighboring countries would extend help in the course.

"We must fight against the protectionist practices of the developed countries," he said, "We need to act in a coordinated way."

Earlier on Tuesday, Brazil's Foreign Relations Minister Celso Amorim complained about protectionism in the U.S. President Barack Obama's new economic package. In an interview to state-run TV Brasil, the minister said the Brazilian government is mulling challenging the package in the framework of World Trade Organization.

The package, aimed at reviving the U.S. economy, stipulates that all iron, steel and manufactured products used in the government projects must be purchased from U.S. companies, sparking wide concern that protectionism is rising in the United States.

Source: Xinhua



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