Offering his insights to specialist magazine, The BRICS Post, Thomas Krieger, Regional Head of Latin America at Commerzbank, argues that if Brazil is to move on from a series of economic setbacks, it must ramp up its trade.
The Latin American economy has certainly suffered in recent years – facing corruption scandals, low commodity prices and the worst recession in over a century. But in a Q&A with the magazine, Krieger points out that by building a stronger export base and encouraging more trade with its regional neighbours, Brazil could secure a better long-term economic future.
Particularly, Krieger urges Brazil to channel its energies into the production of a broader range of higher-value exports – including aircraft and cars – in order to become less reliant on volatile revenues from raw commodities such as oil, metal ores, and agricultural products. He also notes that, as the world’s eighth-largest economy, Brazil will continue to offer great trading potential for partners around the globe.
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