INFRASTRUCTURE development in South America has failed to keep pace with the continent's rapid economic growth, according to a report from the UK's Transport Intelligence. With huge events such as the Olympics and World Cup planned in the next few years massive challenges - and opportunities - exist.
China has become a major player, said a report summary. "In fact, the country recently surpassed the United States as Brazil's top trading partner, the second largest trade partner with Argentina and Peru and third largest partner with Venezuela. For the first half of 2010, South American exports to China increased 44 per cent," it said.
But congestion at airports and sea ports, lack of roads and antiquated railways retard growth and stand to become a major problem when Brazil holds the World Cup in 2014 and the Olympics in 2016, said Transport Intelligence.
Numerous infrastructure projects are underway with many funded by local government, international organisations and foreign countries.
"China, for example, has poured billions of dollars into the region to finance projects such as expanding ports, road and rail networks and building new airports. Financing these projects has enabled China to gain their much needed South America exports quicker to fuel their expanding economy whilst at the same time extending its influence," said the summary.
As South America's economies continue to expand, global logistics providers have entered the region to take advantage of this growth. Offering services such as warehousing, distribution and transportation and freight management services, these providers primarily provide services to international manufacturers who have located facilities in South America, it said.
Source : HKSG, 20.01.11.
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