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Brazil’s manufacturing industry: return to growth?

"Cooperation with China could help spark return to growth for the manufacturing sector in Brazil"

Earlier, we wrote about Mexico’s potential to take the lead in Latin America’s manufacturing industry. The role of Brazil in the region’s manufacturing sector has previously been addressed as well, and the International Monetary Fund (IMF) back then suggested Latin America should start making long term plans and focus on economies based on investments. Recently, CCTV wrote that Brazil is now seeking closer cooperation with China in order to boost its science and technology sectors.

Cooperation between Brazil and China
In June, a China-Brazil tech dialogue summit was held in Brasilia. During the high-level dialogue, Beijing and São Paolo signed a memorandum of understanding for cooperation in science and technology. Chinese minister of Science & Technology Wan Gang and Brazilian  minister Aldo Rebello attended the event, along with over 100 representatives from various institutions in the science and research field.

Potential topics for cooperation between China and Brazil could be IT, argicultural technology, new energy and biotech.

Sparking a return to growth
In order to pull Brazil’s economy out of a downturn, the city of São Paolo is exerting extra effort to improve the economic situation for its citizens. Brazilian scientists are currently conducting a lot of research into argicultural tech and energy renewable technology. The research outcomes could help spark the return to growth for Brazil.
The country is especially at the forefront regarding the provision of universalized energy and renewable energy.

Another strength in research is in agricultural technology. Because Brazil is a rich country regarding availability of natural resources and also manufactures various types of machinery within the country, it has high potential to grow as a manufacturing industry.

In addition, Chinese tech companies consider Brazil as an attractive location to move their plants to, as this could be a good gateway to the Latin American manufacturing market. In return, job creation could get a boost and Brazilian manufacturers could be provided with better job opportunities.

 

One Thought on “Brazil’s manufacturing industry: return to growth?

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