But industry also wants to see fewer taxes, cheaper energy, less bureaucracy and better transport networks, says Paulo Skaf, FIESP's president.

ECONOMIST: Brazil��s trade policy

FIESP's energetic new chairman, Mr Lafer is an academic whose last job was as Brazil's ambassador to the World Trade Organisation.

ECONOMIST: Brazil: Cardoso tries again | The

FIESP, the Sao Paulo industrialists' federation, who dislike Mr Malan's orthodoxies and would prefer devaluation, lower interest rates and higher tariffs.

ECONOMIST: Brazil: Cardoso tries again | The