Brazil already has the sixth-largest GDP in the world and is one of the fastest-growing major economies. Last year, the volume of foreign direct investment into the country stood at US$48.4 billion, an increase of 59.1% over 2010.
With the development of foreign investment in recent years, relations between China and Brazil have strengthened significantly. In fact, since 2009 China is Brazil’s main commercial partner, ahead of Argentina and the US. According to the Brazil-China Entrepreneurial Council, in 2010 China was Brazil’s main investor, with US$12.9 billion, making up 62.7% of Chinese direct investment in Latin America.
In the past, most Chinese investment projects in Brazil were geared towards primary sectors, such as the exploitation of raw materials. However, the quick development of the country, as well as the scheduling of major international events in coming years, mean investment opportunities will be springing up in new sectors.
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Manuel Torres Salazar is the managing partner at Garrigues’ Shanghai office, with extensive knowledge of cross-border foreign investment. He may be contacted on +86 21 52281122 or by email at manuel.torres@garrigues.com
