January 2008Brazil -- A Nation Rapidly Advancing in the Global Economy
100 Years of Japanese Emigration to Brazil: Heritage Leads to a Future of New Business Opportunities
Brazil's economy has become so dynamic that no one doubts it deserves its place among the other BRIC countries, Russia, India and China. Its GDP is not soaring as rapidly as in the other three countries, but it is rising steadily nonetheless, with a growing trade surplus, and a currency and prices that have remained relatively stable over the last few years.
With its rich store of natural resources, great expanses of productive agricultural land, relative proximity to markets in Europe and the United States, and a large market of its own (plus markets in neighboring countries), Brazil is attracting global attention as one of the world's most internationally competitive centers for production and export. The annual Outlook for Japanese Foreign Direct Investment Survey, conducted by the Japan Bank for International Cooperation (JBIC), indicates that Japanese corporate interest in Brazil is growing year by year.
Brazil's Trade Balance and Currency Exchange Rate, 1998-2007
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Sugar cane plantation. The cane will be used to produce ethanol.
The year 2008 marks the 100th anniversary of Japanese emigration to Brazil, and the two countries have developed economic cooperative ties based on a long-lasting relationship of trust. This relationship, which has included loans and other forms of cooperation from Japan, formed the basis for the recent establishment of the Japan-Brazil Council for the 21st Century and the Wise-men Group on the Japan-Brazil Strategic Economic Partnership. Steps are now being taken to add new strength to the strategic economic partnership linking both countries.
JBIC intends to offer even greater support to business projects that will contribute to the advancement of the two countries, particularly in sectors that they have agreed should be given priority. This issue of JBIC Today highlights some of these efforts.