March 20, 2019 / 10:40 PM / 7 months ago

UPDATE 1-Brazil aims at trade reaching 30 pct of GDP by 2022 -secretary

(Adds comments by government official, details on Brazil’s economy)

SAO PAULO, March 20 (Reuters) - The Brazilian government wants trade to represent 30 percent of the country’s gross domestic product by the end of 2022, with one official saying on Wednesday it will get there on the back of President Jair Bolsonaro’s liberalization plans.

Marcos Troyjo, the government’s foreign trade secretary, said at a seminar in Sao Paulo that Bolsonaro’s government will work ceaselessly to close international trade agreements while also pushing economic reforms through Congress.

“Trade police cannot be separated from economic policy,” Troyjo said. “Every big economic miracle of the past 75 years has had these two components in their DNA.”

The secretary defended the idea that “Brazil’s economy needs to be exposed to more competition” to ensure lasting growth.

According to the International Monetary Fund, Brazil’s trade flows, including exports and imports, average around 25 percent of its GDP, which makes the country one of the least open among the G20 group of the world’s most industrialized nations. (Reporting by Ana Mano in Sao Paulo Editing by Chris Reese and Matthew Lewis)

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