Tuesday, 13 July 2010

Construction in Africa boosts export trade

Brazil's Foreign Trade secretary, of the Brazilian Ministry of Development, Industry and Foreign Trade, Welber Barral, has said that the country's export trade is being boosted by the ongoing construction and development works in Africa. Brazilian construction companies, working in the region, are being shipped machinery, equipment, vehicles industrial goods.

“Services exports boost sales of products such as machinery and construction material,” said Barral.

According to official Ministry reports, export revenues from Brazil to Africa are down to 8.7 per cent, totalling at US$ 3.8 billion. Talking about the country's export trade, Barral said that the decline in numbers was due to reduced sales of industrialised products, such as heavy machinery. He also pointed out that there was significant growth in exports of agricultural commodities such as sugar and meat.

"Commodity exports to Africa have grown a lot, so naturally the purchasing power has gone up and [the continent] started buying more,” said the vice president of the Brazilian Foreign Trade Association (AEB), José Augusto de Castro.

Castro also said that the region was comparatively under-industrialised and, similarly to Barral, claimed that the ongoing construction work there, undertaken by a number of Brazilian companies including Odebrecht, Queiroz Galvão and Camargo Corrêa, was responsible for driving up export trade.

Source: Brazil-Arab News Agency

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