Key Points
- Brazil predicts that its trade with Southeast Asia will surpass its trade with the US and Europe in the near future
- The trade between Brazil and ASEAN has been growing at a rate of 15% per year since 2020
- Brazil is focusing on increasing its trade with ASEAN while also diversifying its trade
By the Numbers
Brazil predicts that its trade with Southeast Asia will surpass its trade with the US and Europe in the near future. Brazilian Foreign Minister Mauro Vieira expressed this prediction during a meeting with ASEAN General Secretary Kao Kim Hourn. The trade between Brazil and ASEAN has been growing at a rate of 15% per year since 2020 and is expected to exceed $40 billion by 2025. Brazil is focusing on increasing its trade with ASEAN while also diversifying its trade. Currently, there is a trade surplus of $10 billion in Brazil's trade with ASEAN, but the country's exports are still largely composed of basic products such as oil, iron ore, soy, soy flour, meat, and other commodities. ASEAN General Secretary Kao Kim Hourn expressed support for Brazil's efforts to strengthen cooperation with ASEAN.
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Frequently Asked Questions
- Why is Brazil's trade with Southeast Asia increasing?
- Brazil predicts that its trade with Southeast Asia will surpass its trade with the US and Europe in the near future, as this region is experiencing rapid growth.
- How is the trade between Brazil and ASEAN growing?
- The trade between Brazil and ASEAN has been growing at a rate of 15% per year since 2020.
- What products does Brazil's trade with ASEAN include?
- Brazil's trade with ASEAN is currently largely composed of basic products such as oil, iron ore, soy, soy flour, meat, and other commodities.
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