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Pull of Global Economy Increases Latin America-Africa Engagement

Africa and Latin America are opening new trade and diplomatic relations, particularly in four key countries of Brazil, Mexico, Cuba and South Africa. Compared with their exports to the northern hemisphere, the exchange of goods between Latin American and African countries remains small, around 3 percent. However, trade between the two continents grew 75 percent between 2005 and 2012, and new economic agreements went into place between Mexico and South Africa in October. Building off growing economic ties, countries in each region are broadening diplomatic relations with neighbors close to home, as in the case of Mexico and Brazil. Moving forward, these countries face potential challenges in that transportation and communication links remain weak and trade barriers remain high overall. “Latin America-Africa relations merit attention, especially as they are likely to grow and change in the coming years,” note Manuel Orozco and Julia Yansura for World Politics Review. “Increasing engagement between the two continents reflects the steps both are taking to integrate into a truly global economy.” – YaleGlobal

Pull of Global Economy Increases Latin America-Africa Engagement

In the globalized economy, Latin American and African economies will become increasingly intertwined
Manuel Orozco and Julia Yansura
World Politics Review, 26 January 2015
Click here for the article in World Politics Reviews.

Manuel Orozco is a fellow at the Center for International Development at Harvard University. Julia Yansura is a program associate at the Inter-American Dialogue.

Source:World Politics Review
Rights:© 2015, World Politics Review LLC.