The Brazilian Export and Investment Promotion Agency, Apex-Brazil, has signed an agreement offering training for leather and shoe machinery and component companies that are looking to export and promote their products abroad. The agreement was signed at Francal, which is currently being held in São Paulo.

President of Apex-Brazil, Alessandro Teixeira, said the agency will allot 10.5 million reals ($5.5 million) to the Brazilian Association of Shoe and Leather Components Industries (Assintecal) and 1.5 million reals to the Brazilian Association of Industries of Machinery and Equipment for Leather, Footwear and Related Products (Abrameq) for training purposes. Abrameq will invest 2.9 million reals and Assintecal will invest 12.2 million reals, bringing total investment to 27 million Brazilian reals.

Component manufacturers will focus on design, technology and originality for their products. The export target for the 260 companies that are part of the project is expected to rise from $900 million to $1.15 billion by December 2008, while foreign sales for the 31 shoe manufacturing machinery and equipment companies are expected to reach $12 million by June 2009.