Stats reveal staggering growth in South-South trade

South-South co-operation - aimed at opening new markets for exports - is a top priority in Brazil’s foreign and economic policy, said Carolina von der Weid, head of trade and economic sectors at the Brazilian Embassy. Speaking at the recent Saitex exhibition in Johannesburg, she said statistics reflected this, with imports from South Africa to Brazil increasing by 313% in eight years, compared to an increase in imports from the EU of only 189% in the same period. Exports from Brazil have also risen by a staggering 600% between 2002 and 2010. “Brazil’s trade with Africa could triple to $60 billion (R490 bn) by 2017,” added Roberto Giannettida Fonseca, head of foreign trade at the Sao Paulo Industrial Federation (FIESP). “South Africa is rightly seen as the gateway to Africa. Private sector trade from Brazil to South Africa is very significant. Conversely we have a number of South African enterprises investing in different sectors of the Brazilian market – buses, mining and technology for example,” added Von der Weid. “BRICS provides opportunities to share ideas and collaborate to boost bilateral and multilateral projects, infrastructure, transfer and exchange of technology.” She identified renewable energy (biofuel), agri-processing, and most significantly infrastructure development as new areas of growth. The World Cup to be held in Brazil and the Rio Olympic games will also provide opportunities, albeit smaller ones. INSERT ‘We have a number of South African enterprises investing in different sectors of the Brazilian market – buses, mining and technology.’