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Asia is showing an increasing interest in Latin American markets due to their abundance of raw materials, emerging internal markets, and macroeconomic stability, as well as ongoing globalization and market liberalization.
This reality has led two Sumaq Alliance members, IE Business School and the Getulio Vargas Foundation of Sao Paolo, Brazil, to organize the â??Executive Management Program on Latin Americaâ? for the International Enterprise Singapore (www.iesinapore.gov.sg) â?? an institution dedicated to the promotion of the Singaporean economy. Â
These executive education conferences were developed at the request of International Enterprise Singapore, and attended by 15 high-ranking corporate directors of private and public sector Asian businesses. For five days the program participants were immersed in the economic reality of the Latin America, a region with a GDP of 3 trillion dollars and double the population of the United States, making it the third largest economy in the world.Â
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â??Relations between Asia and Latin America are strengthening due to an increasingly larger and consolidated middle class in both regions. There are significant opportunities in both regions for European players that know how to leverage these new trade and economic flows,â? says Antonio Montes, General Director of the Sumaq Alliance. (www.Sumaq.org)
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The course combined discussions and lectures with a special focus on the economies of Mexico and Brazil, visits to companies such as Embraer or Natura, and activities designed to build networks among businesses in Brazil and Singapore. Professors that participated in the event included Gonzalo Garland, Director of International Relations for IE Business School and professor of Economics.
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“The crisis is having far less impact on Asian and Latin American economies than on European and American markets in terms of GDP, consumption and loans, hence gaining a foothold in these emerging trade flows is vital for the future of any business organisation. Establishing a business network with entrepreneurs from both regions is a challenge for many companies,â? says Professor Garland.
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