Study will show economic potentials between the Brazilian Northeast and Lusophone Africa

The Brazil Africa Institute (IBRAF), in partnership with the Institute for Applied Economic Research (IPEA) and the Economic Commission for Latin America and the Caribbean (ECLAC), is coordinating a study that seeks to map the potential market for goods and services consumption between Northeast Brazil and Lusophone Africa to strengthen the balance of foreign trade.

O estudo tem duração prevista de seis meses e espera servir de base para iniciativas públicas e privadas que busquem fortalecer o comércio bilateral entre as duas regiões.

The region has great economic potential, generating a combined GDP of over $ 3 trillion and benefiting more than 1 billion people.

“There is great potential to be explored in relations between Brazil and African countries, and the creation of infrastructure that enables new business is an important part to make this possible,” said Ipea’s Director of International Studies, Politic and Economic Relations, Ivan Oliveira.

It is also important to note that with the recent approval of the African Continental Free Trade Area, the region has great economic potential, generating a combined GDP of over $ 3 trillion and benefiting more than 1 billion people. Data from the World Economic Forum also show that nearly half of the 40 fastest-growing countries are in Africa. In this way, the continent becomes an extremely attractive global business environment.

Ivan Oliveira
Ivan Oliveira

One of the objectives of the research is to understand if the strengthening of the maritime and air transport networks between Brazil and Africa brings the possibility of enhancing the consumer market between the two regions, as well as allowing new opportunities for the circulation of services and goods to productive sectors on both sides of the Atlantic, in particular for countries that are part of the Community of Portuguese Speaking Countries (CPLP, in Portuguese).

“From an economic and social point of view, we will have more details about the history of the relations between Brazil and the CPLP countries, in particular, and from that, we can identify trends”, explains the Economist of the Brazil Africa Institute, Igor Lucena. “According to studies, Africa will be one of the biggest markets of the future, so it is essential that Brazilian companies have a vision of what is already happening there, what are the investment fields and opportunities so that we can have a long term planning”, concludes .

Rwanda recognizes Swahili as the official language

Rwandan lawmakers approved the Swahili as the official language of the country to the detriment of French and reducing the use...

Genevieve Nnaji, the queen of Nollywood

This Friday, January 4th, the romantic comedy "Lionheart" debuted in the Netflix catalog around 100 countries. The premiere is a milestone for Nollywood, nickname...

Congo Queen celebrates African ancestry in Brazil

Queen Diambi Kabatusuila Mukalenga Mukaji Wa Nkashama, from the Democratic Republic of Congo, has been visiting Brazil in the states of Bahia, Minas Gerais,...

Cape Verde tourism grows 8.5% in the first quarter of 2019

Data from the Cape Verdean National Statistics Institute (INE-CV) reveals that 233,721 people chose Cape Verde as a tourist destination in...

The Colors of Moh Awudu

Mohammed Awudu, who is 33 years old, is considered the most famous resident of Nima, a neighborhood located in the Greater Accra Region, in...