Brazil's newly-elected populist President Jair Bolsonaro addressed the world's business elite in Davos on Tuesday, vowing to transform Latin America's largest economy into a more investment-friendly country.
On his first international trip since becoming president, Bolsonaro delivered the keynote speech at the World Economic Forum (WEF).
"Brazil's economy is still relatively closed to foreign trade and to change that situation is one of my administration's major commitments," Bolsonaro said, according to a WEF translation.
"You can be sure that by the end of my term in office, our economic team, led by Minister of Finance Paulo Guedes, will position in the ranking of the 50 best countries in the world to do business," he added.
His comments are likely to be well received by market participants, after more than a decade of interventionist policies by previous administrations.