Brazil: Firms do business worth US$26 million at Luanda event

17 October 2008

Sao Paulo, Brazil, 17 Oct – Representatives from over 150 Brazilian firms struck deals valued at US$26 million during a promotion event in the Angolan capital, Luanda, says Juarez Leal, PR and market access coordinator of the Apex-Brazil trade and investment promotion agency.

Over 60 Brazilian business executives met with 252 Angolan entrepreneurs over two days of contacts aimed to establish partnerships in the sectors of food and drinks, housing and construction, garments, footwear, jewellery and industrial machinery.

Firm orders of US$ 1.4 million were obtained by the Brazilian companies and other agreements valued at US$24.6 million await signing of contracts, according to APEX.

APEX-Brazil project manager Mauricio Manfre said with Angola’s stable government and openness to foreign investment “Brazil needs to consolidate its presence in Angola, and this is the moment.”

An APEX-Brazil study found that two-way exchanges between Brazil and Angola grew by 500 percent between 2004 and 2007 to reach a value of just over US$2 billion at the end of this period.

Between 2004 and 2007, Brazil imported US$ 945 million worth of goods from Angola and exported US$1.2 billion in return. (macauhub)