Brazil seeks foreign investors for several industries

The head of Brazil's development bank has been in London reassuring investors that the country's economy is recovering well.

Luciano Coutinho, the chief executive of BNDES, concedes that the big economic story from Brazil is the expectation of a boom in the oil industry. He confirmed that the Government is stepping up efforts to diversify the economy, creating global champions in a range of industries, from telecoms to farming.

Brazil dominates global trade in several agricultural commodities, from coffee to sugar, or chicken and beef.

It is estimated a quarter of the Brazilian population is in poverty so continuing to develop sectors like farming could go a long way to alleviate the plight of many poor people. It is thought foreign direct investment in Brazil will reach 45 billion dollars this year.

BNDES's chief executive, Luciano Coutinho, told the BBC's Russell Padmore that the economy is benefitting from growing trade ties with Asia.