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Africa: In search of the Brazilian economic miracle

Susana Carrillo's picture

También disponible en español
 

África: en busca del milagro económico brasileño

 
During the second half of 2011, relations between Africa and Brazil continued to flourish as part of the historic trade, cultural and economic rapprochement of the two economic juggernauts. Specifically, African governments asked for more financing from the South American country to implement development projects, according to Brazil’s National Bank of Economic and Social Development (BNDES).

Key reasons for intensifying this relationship include the fact that Brazil is now the world’s sixth-largest economy (after China, the United States, France, Germany and Japan) and that it has become a major player in South-South cooperation.

Can Africa become the next Brazil?

Susana Carrillo's picture

Brazil and Africa, new partners

Linked in the distant past through colonial-era trade enterprises, Brazil and Africa are becoming close partners again. More than two centuries after establishing a slave trade route across the Atlantic, both regions are again re-engaging, this time around to exchange knowledge and potentiate economic and social development.

Sub-Saharan African countries are looking to replicate Brazil’s successes in boosting agriculture production and exports, and private investments, which have made Brazil a key economic player in the international arena.