58 Economy
Samba synergies
An Asian economic powerhouse met a South American
giant to build economic ties as the global financial
meltdown gathered pace, but it wasn’t all doom and gloom
by Maria João belchior in beijing
T
he two-way business path to Be- table also focused on other major Asian The 43-strong China delegation in-
ijing is well-trodden as China ce- investors in the host country. cluded representatives from major Chi-
ments its place as a key investor “Although the recent financial crisis nese banks such as the Industrial and
in the world’s emerging economies. At is changing the face of world trade, Brazil Commercial Bank of China (ICBC), the
a recent conference in Brazil to promote remains a good country for new invest- Bank of China (BoC) and the Chinese
business ties with the mainland, it was ments,” Mendes told Macau Business. Development Bank (CDB).
clear from the outset that there was to be Gil Vicente Gama, General Co- CDB has already developed part-
one clear clarion call. ordinator in Brasilia, is of the same nerships with private Brazilian banks
Sandra Mara Mendes, the execu- opinion. He believes the international and is working to finance medium-sized
tive director of the International Co- financial crisis is motivating businesses entrepreneurs from China interested in
operation Institute, summed it up best: to find new opportunities and markets - investing in Brazil.
“Promote investment by China in Bra- and Brazil is certainly that. In Sao Paulo, Brazil’s largest city, the
zil.’’ The currently Beijing-based head Bank of China and Chinese Development
of the ICOOI identified this as the main emerging markets Bank opened offices some years ago.
goal of the two-day business roundtable As one of the BRIC (Brazil, Russia,
held between November 25 and 27 in the With the main aim of establishing India, China) countries, China alone has
capital Brasilia. relations and exchanging information accounted for half of the BRIC group’s
At the first meeting of its kind, up- between investors, the inaugural Asia- global expansion over the past five
wards of 200 investors got together in Brazil gathering zeroed-in on a list of years, with the three other members of
the Brazilian capital to study opportuni- key areas. the group making up the rest.
ties for business and economic partner- Ports and logistic infrastructure, edu- Mendes recognises some key ar-
ships. cation, mining, real estate, food and agri- eas for the future Brazilian economy:
Brazil, China, Hong Kong, Macau business, information technology, private “There’s mining, new oil fields are be-
and Singapore were there and despite investment funds, sovereign health funds ing discovered and there is still huge
China being the most important market and regulatory agencies were some of the area for agricultural development. This
for the South American giant, the round- big ideas on the agenda. gives the country good prospects for the
december 2008
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