Published: April 13, 2011
‘FDI attraction, emerging markets biggest challenge!’ says Alessandro Teixeira, WAIPA President
“FDI attraction, emerging markets biggest challenge!” according to Alessandro Teixeira, Deputy Minister of Brazil’s Ministry of Development, Industry and Foreign Trade and President of World Association for Investment Promotion Agencies (WAIPA), in a statement released ahead of the upcoming UAE Ministry of Foreign Trade (MoFT) Annual Investment Meeting 2011.
The event, which will be held from May 10 to May 12, 2011 at the Dubai International Convention & Exhibition Centre (DICE), aims to provide an exceptional platform to stimulate Foreign Direct Investment (FDI) in fast developing nations and empowering emerging countries. As the Deputy Minister of Ministry of Development, Industry and Foreign Trade, Texeira will be leading the Brazilian delegation and will discuss bilateral trade and commercial relationship with his UAE counterpart, the host of the AIM, Her Excellency Sheikha Lubna Bint Khalid Al Qasimi.
The news of the upgrade to Brazil credit ratings by statistical rating firm Fitch Ratings ascertained the country’s worldwide prominence as well as reasserting the consistency of its economic model, the reliability of its financial system, the sustainability of its trade/import & export balance and the strength of its monetary policy.
Further, as the future host of the 2016 Summer Olympics and of the upcoming 2014 FIFA World Cup that granted economic juggernaut South Africa its integration into the elite group of emerging countries with inexhaustible business and vast trade prospects ‘BRICS’, Brazil has become the new Eldorado, the prime multi-sector investment destination for savvy and forward-looking financiers seeking their next best source of steady revenues.
Pondering on FDI for emerging countries in his role as re-elected president of WAIPA, Mr. Teixeira recently stated that: “FDI attraction is as challenging as it has ever been. Capital increasingly flows out of new source countries, and into a broader range of projects, in mature and emerging economies alike. WAIPA is well aware of the need to closely watch these emerging trends. Our world association salutes the efforts put into this UAE sponsored Annual Investment Meeting and have welcomed the opportunity to contribute towards its success.”
As figures demonstrate, Brazil's trade surplus grew for the second consecutive month in March, bolstered by high commodity prices. The trade surplus reached USD 3.2 billion in the first trimester of 2011 whilst high commodity prices drove exports, which posted 16 consecutive months of growth.
Meanwhile, strong income growth, non-exhaustive credit, and low unemployment are bolstering demand for imports. With an exponential pace of growth for both imports and exports, analysts expect growth trends to sustain. With such premises, the UAE and in a broader perspective, the GCC region, should seize the limitless opportunities and benefits of securing strong trade & commercial partnerships with a world class trade partner like Brazil.
WAIPA is the Official Investment Promotion Partner of the AIM 2011. During the event, Teixeira will preside over a WAIPA panel discussion (May 10th, from 10.30 to 11.30) on FDI forecast, the role of IPAs, the South American potential and the importance of BRICS in driving forward FDI attraction in emerging markets. Further, WAIPA’s confidence in Brazil was reflected by the reelection of Brazil for a second mandate at its head.
Coincidentally, Emirates Airlines, the UAE Ministry of Foreign Trade Annual Investment Meeting Official Carrier has recently announced the expansion of its South American network by opening flight corridors in Rio de Janeiro, the most iconic city of Brazil and host of the landmark carnival in addition to Buenos Aires in Argentina.
“Aside from WAIPA and the Ministry of Development, Industry and Foreign Trade, Brazil, the MoFT has also confirmed the participation of over 65 international delegations headed by top government officials, private investors, high profile financiers and many more who believe that this event is the forum that fosters trade and investment in emerging markets and high growth regions. With the Annual Investment Meeting momentum building amidst the business community of UAE, GCC as well as its international networks, registration to attend the conference (free of charge and subject to background check) will come to a close by April 28th, 2011,” concluded (Dawood Al Shezawi, CEO, AIM Organizing Committee
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AIM Organizing Committee
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