Centro de Documentación OLADE -

03023

Given the risks the world economy is still facing and the ascendancy of Brazil and India as major growth poles of the global economy, government authorities in Latin America and the Caribbean should redouble their efforts to identify and capitalize upon the potential complementarities created by greater integration with the BRICs. In view of the inter-industrial nature of trade between India and Latin America including Brazil, the region should seek to create partnerships between its firms and successful Indian companies, in order to gain access to supply chains that produce more complex, technologically sophisticated inputs and services for production units. This is particularly important when growing production and trade complementarities among and between ASEAN+6 countries, now reinforced by free trade agreements, might lead to trade and investment diversion of the region's economies in Asia-Pacific.