Brazil has launched the second phase of an ambitious project to boost integration across South America and streamline trade with Asia.
This initiative, revealed in the Dominican Republic to seven South American nations, aims to create strategic corridors linking Atlantic and Pacific ports.
As the Brazilian government states, these routes are crucial for boosting the continent’s trade and Asia’s exports.
Brazil’s Planning and Budget Minister, Simone Tebet, outlined the project’s new phase to officials from Argentina, Chile, Colombia, Ecuador, Paraguay, Peru, and Uruguay.
Her presentation occurred at the Inter-American Development Bank’s (IDB) Annual Assembly in Punta Cana.
Tebet explained, “For Brazil, faster trade and cutting down Asia trade times mean more jobs, better earnings, and more food for Brazilians.”
She emphasized the Manta-Manaus waterway’s importance. This path is set to link Brazil’s Amazon heartland with Ecuador’s Pacific coast.
Tebet also noted Chile’s crucial role. With regional physical integration, Chilean ports will play a key part in moving goods, cutting up to 7,000 kilometers off the Asia trade route.
The Brazilian announcement highlighted regional development banks’ role in driving South America’s integration efforts.
Colombia’s Finance Minister, Ricardo Bonilla, highlighted the need for investments to upgrade the Pan-American Highway, which is well-maintained in Ecuador and Peru.
Argentina’s Economy Minister, Luis Caputo, showed interest in updating northern roads that link to Brazil and Chile, vital for the bi-oceanic corridor.
Initiated in 2000, this project places Brazil at the forefront. As Latin America’s largest economy and China’s top trade partner since 2009, Brazil’s leadership underscores the project’s significance for regional development and global trade connectivity.