M&T Expo opens
By Richard High03 June 2009
Brazil´s M&T Expo (2 to 6 June, Sao Paulo) opened today with the organisers expecting over 42000 visitors, with about 4000 coming from outside the country.
The largest construction show in Latin America M&T Expo has grown by +25% since the show was last held in 2006 and now covers 52000 m2 with 424 exhibitors showing over 1000 machines representing 500 brands.
Opening the show earlier today, Afonso Mamede, president of Sobratema, the Brazilian Association for Technology in Equipment and Maintenance, organisers of the show, said he expects over US$ 1.5 billion worth of deals to be done over the next five days.
Mr Mamede said that while the global financial crisis had impacted on the Brazilian construction equipment market the country had the potential for "rapid growth" in construction activity and equipment sales.
"About US$ 15 trillion has disappeared from the world economy in the last few months, the US and Europe are facing their worst recessions ever, the Chinese economy is slowing down, Japan faces debt of almost 200% of its GDP and 50 million people are expected to lose their jobs as a result of the present crisis," said Mr Mamede.
"However, while sales of construction equipment in Brazil fell during the last three quarters we are seeing signs of a return to growth thanks to the government´s continued investment in infrastructure and prudent management of the economy," he added.
The government´s Growth Acceleration Program (PAC), its commitment to construct the Mercosul trade corridors that run through the country, and preparations for the 2014 FIFA World Cup, were the main drivers behind sales of construction equipment in Brazil, said Mr Mamede.
Under the PAC the government expects to invest US$ 300 billion in infrastructure between now and 2010. A further US$ 250 billion earmaked for infrastructure spending until 2014, added Mr Mamede.
"There is a huge potential for growth but it is up to us. We are a young, dynamic country rich in natural resources, with a young and well educated population, so I believe the future looks bright," he concluded.