INSUBCONTINENT EXCLUSIVE:
grand promises of investments and renewed financing during visits to South Africa, Ethiopia, and Angola
His enthusiastic declarations received applause at an Angola business forum
However, the reality has not matched the rhetoric.Trade figures paint a mixed picture of Brazil-Africa relations
Commerce with the Southern African Customs Union dropped 11.1% in the first nine months of 2024 compared to 2023.Brazilian exports to
Overall trade with Nigeria increased by 34.1%
The Brazil-Africa Institute is working to stimulate business ties through initiatives like a port agreement with Gran Canaria, Spain.Africa
holds significant economic potential for Brazil
The United Nations projects that five African nations will account for half of global population growth by 2050.The African Continental Free
Trade Area could generate $6.7 trillion in consumer and business spending by 2030
Chinese-African trade volume reached a record $282 billion in 2023
The United States claims to have facilitated $63.5 billion in deals across 41 African countries since 2021.Turkey and Gulf nations are
ramping up their investments in Africa, intensifying competition in a region where Brazil has traditionally had a presence
As a result, Brazil is facing increasing challenges and is losing ground to its competitors in this strategic landscape.Its resources pale
in comparison to major powers like China and the U.S
Even mid-sized nations like Turkey are making substantial inroads
Lula proposed a Global Alliance Against Hunger and Poverty, inviting African countries to participate.However, these diplomatic gestures
have not yet translated into substantial economic outcomes
The Brazil-Africa Forum provides an opportunity for concrete proposals.Foreign Minister Mauro Vieira and special advisor Celso Amorim face
pressure to deliver tangible economic partnerships
Key commodities include sugar, corn, meats, and soybeans.Egypt stands out as a crucial trading partner, constituting 17% of African imports
from $28 billion to $21 billion
This drop occurred while China and Russia deepened their African ties
