In the first nine months of this year, Cape Verde was the third largest market for Brazilian exports among Portuguese-speaking countries, with a trade volume of US$ 24 million, according to data from Brazil’s Ministry of Foreign Commerce. Meanwhile, a business mission from the Brazilian state of Ceará is currently visiting Cape Verde.

A business mission from the Brazilian state of Ceará, headed by Francisco Neto, is currently visiting Cape Verde. According to Brazil’s ambassador to Praia, Maria Dulce Barros, entrepreneurs from the two countries should do business with one another without any preconceived notions.

The mission comes just days after the Brazilian Ministry of Foreign Commerce released data showing that Cape Verde was, during the first nine months of this year, the third-largest market among Portuguese-speaking countries for Brazilian exports, with a trade volume of close to US$ 24 million.

During the same period, Cape Verde also sold goods and services totaling US$ 64,000 to Brazil - more than Mozambique, Guinea Bissau, São Tomé and Príncipe or East Timor, which registered practically no exports to Brazil.

In general, the total value of Brazilian purchases of exports from other Portuguese-speaking countries almost doubled during the period, mainly as a result of the growth in petroleum imports from Angola. As such, growth in imports was greater than that in exports - 15.6% - but the balance of trade continues to be rather favorable for Brazil, with a positive balance of some 2.1 billion US dollars.

Between January and September of 2007, Brazil purchased goods and services totaling US$ 1.068 billion from the world’s other Portuguese-speaking countries. Angola leads the group, with US$ 838 million in exports to Brazil, 149% more than in the first nine months of 2006. Petroleum represented the largest single chunk of Angolan exports to the South American giant - US$ 766 million. Portugal saw an increase of 13% in its exports to Brazil, with US$ 230 million, with olive oil the single most valuable Portuguese product imported by Brazil.

Source: A Semana