Since the election of President Cardoso, Brazil is in the process of implementing a comprehensive, market-oriented reform program. President Cardoso has called massive changes to reform the public sector, privatize state-owned industry and eliminate barriers to increased foreign investment. The United States is one of Brazil's largest trading partners, accounting for 22% of Brazilian imports. Real growths have been in the 4-6% range during the mid-1990s. The development of economic reforms and a strengthening democratic form of government may provided a wide variety of commercial and defense-related opportunities for U.S. firms.