BRAZIL OFFERS HUGE POTENTIAL FOR NEW ZEALAND

Brazil offers huge opportunities for New Zealand exporters, according to Trade Minister Lockwood Smith.

Dr Smith, who concluded his visit to Brazil yesterday, said that one company alone, the Sao Francisco Valley Development Company (CODEVASF), demonstrates the potential for New Zealand exporters across a broad range of sectors.

"CODEVASF is a Government-owned company responsible for the development of a 640,000 km2 area of Brazil. That's well over twice the size of New Zealand, or the equivalent of both France and Portugal," Dr Smith said.

"CODEVASF relies extensively on international investment and expertise, and during meetings yesterday, the Company President expressed real interest in working with New Zealand companies to advance developments within the Sao Francisco Valley area.

"CODEVASF offers opportunities for New Zealand companies involved with irrigation, land development, agriculture and horticulture, including post-harvest handling and food processing, fish farming, research, education, electricity generation and supply, technology development and investment promotion.

"New Zealand has just opened a Consulate General in Brazil, and we're geared up to assist our exporters to take advantage of the opportunities in this rapidly developing market.

"The New Zealand exporters travelling with me have received significant interest from Brazilian companies, and we expect to secure several agreements as a direct result of this visit," Dr Smith concluded.

Dr Smith and the New Zealand delegation are now in Lima, Peru. After a final stop in Chile, they return to New Zealand on Saturday, 24 July 1999.