Crescente: Bovespa President Edemir Pinto & Banco do Brasil CEO Aldemir Bendine at this month's offering.

With the 2014 World Cup and 2016 Olympics on the horizon, there’s no question about all eyes being on our neighbor to the north. With the world poised to descend on Brazil in the coming years, it is interesting to note how Brazil is beginning to look beyond its borders and engage with foreign countries. Right now, for example, the slopes of Bariloche are teeming with well-heeled paulistas and cariocas, and lilting Portuguese accents can be heard around BA’s finest restaurants and gallerias. But the Brazilian Foreign Investment Experiment (BFIE for short) is starting to expand well beyond tourism and into the boardroom with Argentina being the logical first step, says the Latin Business Chronicle. “The country’s corporate sector has embraced globalization,” writes LBC, “and many Brazilian companies have chosen neighboring Argentina for their first foreign venture. To date, over 400 Brazilian companies have done JV’s or outright purchases of Argentine companies in sectors ranging from cement to beverages to auto parts manufacturing. Now many olhos brasileiros are focusing on opportunities in the banking sectors. The analysts and professors interviewed by LBC describe the phenomenon of “follow sourcing” as a logical pattern where Brazilian banks are increasingly following their best corporate clients into Argentina to fund the growth and expansion of their Argentina subsidiaries. University of Palermo professor Rodolfo Rapán puts the importance of Brazil’s FDI in context: “Since 2003, an average of about $4 billion in foreign funds has flowed into Argentina each year, and 40 percent of those funds have come from Brazil.”  (Full article in English)