Brazil-Africa trade to reach $60b by 2017

SAO PAULO, Nov 17 (AFP): Brazil's trade with Africa could triple to $60 billion by 2017, according to business leaders here who also highlighted the South American behemoth's potential as a development model for the continent. "I believe that trade could reach $60 billion in six years," said Roberto Giannetti da Fonseca, head of foreign trade at the Sao Paulo Industrial Federation (FIESP), who noted that trade already tripled to $20 billion between 2004 to 2010. He made his remarks at a conference on the private sector's role in African development that brought together local entrepreneurs, diplomats, Brazilian government officials, economists and representatives from multilateral organisations. Brazil is a tropical country where business leaders have a good understanding of challenges faced by African countries, he added.