WTO chief praises reforms in Brazil

RIO DE JANEIRO - The World Trade Organization (WTO) considers reforms in Brazil positive, WTO Director-General Roberto Azevedo said Friday.

Azevedo, who is Brazilian, is in the country for a series of WTO meetings. According to him, many WTO members are expressing a positive view about the reforms being carried out by the Brazilian government.

"Many WTO members have referred to the fact that the country is going through reforms in a complimentary manner," Azevedo said.

However, he stressed the need for Brazil to remain stable in order to attract foreign investors.

"A privatization process, which offers conditions for stability, predictability and adequate remuneration for investors, has good chances of being successful," he said.

Since President Michel Temer came to power in Brazil, his administration has launched a series of reforms including labor, pension, social security, economy and others.