In 2050 it is anticipated to feature Brazil and Mexico as part of the world largest economies according to several academic studies. Already the ability for the countries in Latin America to mitigate the effect of the economic crisis is evidence that these economies have been adapting well to current economic necessities. Economic forecasts for the region are good and many countries are still modernizing their institutions and economy to create a better environment for doing business.

One of the best success stories is Brazil. The current government has implemented an economic policy that combines capitalism principles and socialism. The outputs of this policy were successful and today Brazil has its place on the international scene. The best example is Brazil’s successful policy that continues to reduce the impact of the economic crisis in its country. This strategy is often cited as an example of good governance by many countries in Latin America, Europe and North America. Currently Brazil is the number one exporter in the region and the country that has the highest growth domestic product (GDP)in the region.

Another example of great success is Chile which is surpassing all countries in Latin America in terms of highest GDP per capita. This country has created an ideal environment for doing business and is currently attracting high levels of foreign investments. Chile is the 30th most competitive country in the world and the first in Latin America.

Chile is another good illustration of the ability of countries in Latin America to adapt to economic reform. This country is recognized as the best place to do business in Latam and has the highest GDP per capita amongst countries in Latin America. This is the consequence of major reforms initiated to enhance trading, make business relationship more flexible and attract investments from foreign companies. This economic strategy is very successful: Chile is ranked number 30 of the most competitive countries in the world and number among countries in Latin America.

Creating a good environment for business is not enough and Latin America countries can count on strong assets (oil fields, lithium, agriculture, manufacture); flourishing industries (real estate, tourism), and smart governmental investments (education, infrastructure) to support their future growth.

Joshua Adekane is an expert in helping companies successfully import and export with Latin America. To access to his valuable resources, tips and links, click here export import