{"id":376005,"date":"2024-10-15T15:27:47","date_gmt":"2024-10-15T18:27:47","guid":{"rendered":"https:\/\/anba.com.br\/?p=376005"},"modified":"2024-10-15T15:27:53","modified_gmt":"2024-10-15T18:27:53","slug":"brazil-seeks-more-trade-with-africa","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/brazil-seeks-more-trade-with-africa\/","title":{"rendered":"Brazil seeks more trade with Africa"},"content":{"rendered":"\n

S\u00e3o Paulo \u2013 Brazil\u2019s trade with Africa remains modest given its potential, says Carlos S\u00e9rgio Sobral Duarte, Secretary for Africa and the Middle East at Brazil\u2019s Ministry of Foreign Affairs. The diplomat spoke on the second day of the 12th<\/sup> Brazil Africa Forum<\/a>, which is taking place at the WTC Sheraton in S\u00e3o Paulo this week.<\/p>\n\n\n\n

After mentioning the establishment of the African Continental Free Trade Area (AfCFTA), he said it represents a great opportunity for the world, for Brazil, and for Mercosur. \u201cIn 2022, more than two-thirds of Mercosur\u2019s exports to Africa went to countries with which the bloc has no trade agreement, so there is significant room for expansion,\u201d he said.<\/p>\n\n\n

\n
\"The
The event brought together representatives from African countries and Brazil<\/figcaption><\/figure>\n<\/div>\n\n\n

According to Duarte, while Brazil has a USD 22 billion trade with Africa, India\u2019s trade with the continent reaches USD 100 billion, and China\u2019s amounts to USD 243 billion. \u201cIt\u2019s very modest, but even so, there are encouraging data and signs,\u201d he said regarding Africa-Brazil trade.<\/p>\n\n\n\n

The diplomat listed Brazil\u2019s main export destinations in Africa: Algeria, Egypt, South Africa, Morocco, and Nigeria. On the other hand, Brazil primarily imports from Algeria, Morocco, Nigeria, Angola, and South Africa. According to him, Africa accounted for only 3.5% of Brazil\u2019s global trade in 2023. \u201cThe potential here is evident,\u201d he said.<\/p>\n\n\n\n

According to Duarte, the stock of direct investment from Africa in Brazil reached USD 2.3 billion in 2021, with South Africa being the main investor. He mentioned examples of these investments like the announced expansion of Terminal 3 at S\u00e3o Paulo\u2019s Guarulhos Airport by a South African company and a fertilizer plant in Maranh\u00e3o by a Moroccan company. Brazil\u2019s investment in Africa reached USD 1.9 billion in 2021, with Angola being the primary destination.<\/p>\n\n\n\n

The diplomat highlighted Africa\u2019s potential, with an average annual growth rate of 3.5%, 65% of the world\u2019s available arable land, and 60% of its population under the age of 25. According to him, six of the world\u2019s 15 megaprojects, each with investments exceeding USD 10 billion, are in Africa. The AfCFTA could boost Africa\u2019s income by 7%, Duarte noted.<\/p>\n\n\n\n

The representative of Brazil\u2019s Foreign Ministry emphasized the continent\u2019s priority in Brazil\u2019s foreign policy, a point that had already been made by Foreign Minister Mauro Vieira at the opening of the event on Monday (14). \u201cThis is a priority that has a direct relation with Brazil\u2019s domestic policy, where there is an inclusive project with goals for socially just and environmentally sustainable development,\u201d he said, also mentioning the alignment with Brazil\u2019s guidelines during its presidency of the G20.<\/p>\n\n\n\n

Trade could expand<\/strong><\/h2>\n\n\n
\n
\"Haytham
Haytham El Maayergi from Afreximbank participated<\/figcaption><\/figure>\n<\/div>\n\n\n

The executive vice president responsible for global trade at Afreximbank, Haytham El Maayergi, opened the second day of the forum with a viewpoint similar to Duarte\u2019s, emphasizing the transactions and cooperation projects between Brazil and Africa. He also said there is still much to be done in the relationship between the two sides of this partnership, particularly regarding the expansion of trade.<\/p>\n\n\n\n

He presented to Brazilians an overview of the continent, highlighting some recent advancements such as the increase in consumption of goods, improvements in the business environment, a growing middle class, ongoing population growth, potential for renewable energy, as well as investment opportunities in agriculture and the growth of the textile, automotive and technology industries on the continent.<\/p>\n\n\n\n

The Brazil Africa Forum is organized by the Brazil Africa Institute, led by Jo\u00e3o Bosco Monte, and is held with the support, partnership, and sponsorship of various companies and institutions. Brazil\u2019s federal government and Ministry of Foreign Affairs were among the supporters of this edition.<\/p>\n\n\n\n

Read more:
<\/em>Africa: Brazil to set up office Lula promised<\/a><\/p>\n\n\n\n

Translated by Guilherme Miranda<\/strong><\/p>\n

Isaura Daniel\/ANBA<\/div>
Isaura Daniel\/ANBA<\/div>
Isaura Daniel\/ANBA<\/div>","protected":false},"excerpt":{"rendered":"

On the second day of the Brazil Africa Forum, Brazil\u2019s secretary for Africa and the Middle East, Carlos S\u00e9rgio Sobral Duarte, spoke about the continent\u2019s economic progress and said the trade relationship with Brazil is modest compared to its potential.<\/p>\n","protected":false},"author":1455,"featured_media":375991,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[106],"tags":[49688,9534,51255,9561],"class_list":{"0":"post-376005","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-foreign-affairs","8":"tag-africa-3","9":"tag-brazil-en","10":"tag-carlos-sergio-sobral-duarte-2","11":"tag-exports-en"},"wps_subtitle":"On the second day of the Brazil Africa Forum, Brazil\u2019s secretary for Africa and the Middle East, Carlos S\u00e9rgio Sobral Duarte, spoke about the continent\u2019s economic progress and said the trade relationship with Brazil is modest compared to its potential.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/376005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/1455"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=376005"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/376005\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/375991"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=376005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=376005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=376005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}