In an exclusive interview for BRICS Business Magazine, Thomas Krieger and Alexander Rost – Commerzbank’s respective regional FI heads of Latin America and the Indian subcontinent – offer their insights on the trading potential of Brazil and India. 15 years after Goldman Sachs identified the so-called ‘BRICS’ group of major emerging global powers, the economic fortunes of these two countries could scarcely be more different: while Brazil suffers its worst recession in a century, India is making its mark as one of the fastest-growing economies in the world.
For Krieger and Rost, however, the two countries are united in their need to develop their trade. According to Rost, “While each country tends to rely on exports of low-value goods, long-term economic security relies on developing a broader industrial base capable of sustaining higher-value products.”
Krieger agrees: “Given the BRICS group is not particularly well-suited to trading amongst its own members – mainly due to too many similarities when it comes to the supply and demand of goods – both Brazil and India would do well to look closer to home, to their neighbouring countries and explore these new markets for their exports.”
Read the article on pages 44-46 of the magazine online here (note: the magazine requires a subscription).