Africa-Brazil ties, Brazil main investor in Africa now

Post date: Jul 10, 2010 3:55:55 PM

Rising living standards, 200m Africans will shop more

China, Brazil and South Africa

all try to expand their capital in Africa

Brazilian companies have picked up on this trend

and boosted exports of beef, sugar, cereals, vehicles, agricultural equipment and iron-ore.

Exports totalled $9bn in 2009.

$25bn a year, trade between Brazil and Africa

is a quarter of the volume of China's trade with the continent.

During his talks in Tanzania, President Lula noted that China brought in Chinese people to work on projects in Africa.

Brazilian mining company Vale,

which lost out to Chinese firm Chinalco for a contract in Gabon in 2006, would proceed differently, he said.

"Vale will come here, will bring investment, create jobs and hire workers from Tanzania," President Lula told a business seminar there.

Indian companies like car manufacturer Tata Motors are also pouring money into Africa and sold goods worth $15bn

McKinsey estimates that,

thanks to rising living standards, 200m Africans will shop for more and more consumer goods in the next five years.

We share physical, spiritual and cultural traces which make Brazil the second biggest African nation in the world

President Lula

African-Brazilian university Ceara Brazil

President Lula has also unveiled plans for an African-Brazilian university, to be located in the state of Ceara in north-east Brazil, which would offer places to 5,000 African students and 5,000 from Brazil.