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Business Round Had 12 Participating Companies and Benefited the Brazilian Machinery and Equipment Sector
The International Fair of Bogotá (FIB) took place from September 26 to 30 in Colombia and brought positive results for Brazil in the industrial machinery and equipment sector. After all, 12 companies participated in the business rounds. Thus, Brazil was able to close deals with a total revenue of US$ 670 thousand.
And the outlook appears to be even more positive for the coming years. Experts indicate that the industrial machinery and equipment sector is expected to generate more than US$ 2.94 million in new business next year. The Brazilian participation in the event is the result of a partnership between ApexBrasil (Brazilian Agency for the Promotion of Exports and Investments) and ABIMAQ (Brazilian Association of Machinery and Equipment Industry). Learn more.
Learn More About the Machinery and Equipment Sector in Brazil with the Video Below
During the 105 Meetings That Took Place at the Event, Colombian Companies Estimated US$ 9.36 Million Just for Brazilian Manufacturers
The event in Bogotá had a wide round of 105 meetings with major Brazilian companies in the machinery and equipment segment. Due to the great success of these meetings, companies in Colombia estimated a total of US$ 9.36 million just in business with Brazilian firms.
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According to Paulo Guerra, the International Relations and Trade Promotion Manager at ABIMAQ, the outlook for the coming years is very positive because companies met their goals during the event. In this sense, there was a lot of negotiation and strategic contacts with decision-makers from major companies. Thus, doors remain open for the coming years.
Brazil already has many positive relationships with many countries, which facilitated negotiations during the event. Now, Brazil may experience an improvement in its economy in the segment.
Current Business Outlook for the Brazilian Industrial Machinery and Equipment Sector
Colombia has a good history of industrial machinery and equipment business with Brazil. Graphic machinery and equipment were the most imported in 2021, totaling US$ 2.4 million. In the plastic segment, there was a movement of US$ 1.7 million in 2021.
Furthermore, Colombia also imported auxiliary printing machines, which reached an impressive figure of US$ 1.3 million in 2021. In this regard, these imports accounted for a 31.7% share of the market.
Machinery and equipment related to the development of rubber or plastic and derivatives also had significant movement among the countries. A total of US$ 804 thousand was traded in 2021, with a 518% increase compared to the previous year.
However, Colombia is not the only country interested in promoting Brazil’s exports, as the United States also closes large deals with our country. In 2021, the United States imported US$ 2.7 billion, representing 27.1% of the national market. Argentina also had significant negotiations with Brazil, with nearly US$ 900 million transacted in 2021.
In South America, Chile is also a major trading partner in the industrial machinery and equipment sector in Brazil. In 2021, it imported around US$ 570 million in machinery, which is an 82.1% increase compared to the previous year. In Asia, China also brought significant business to Brazil, with US$ 543 million transacted. This figure is 404.9% higher compared to the previous year, 2020.
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