Brazil is simply too big a market to ignore. It is the fifth-largest country in the world, with a population of approximately 185 million. It has one of the world’s most rapidly developing economies and a GDP per head that is greater than either India or China. It has natural resources in abundance, a developed industrial base, high standards in scientific research and substantial human capital.
Brazil is one of the four countries which, together with Russia, India and China, make up the so-called BRIC economies. The term was first used in 2001 by the investment bank Goldman Sachs which highlighted the huge potential of Brazil and recognised that, together with the other BRIC countries, it has the potential to be one of the most dominant economies in the world by 2050.
Economic reform in the 1990s brought stability to the country’s finances, putting behind it a history of boom and bust where high inflation and foreign debt hampered its development. Today, Brazil is the fifth largest country in the world, with a population of approximately 190 million and has the world’s sixth largest economy – by far the largest in South America, representing over 50% of regional GDP.
The UK enjoys a strong and historic trading relationship with Brazil, stretching back over 200 years. Today, Brazil remains the UK’s most important trading partner in Latin America, with bilateral trade exceeding £5 billion in 2013. The UK is also one of the largest investors in Brazil. However, there is strong evidence to suggest that many UK companies are not aware of the size and level of opportunity that exists in Brazil.
About This Guide
Who is this guide for?
Even for the seasoned exporter, Brazil can be a tough proposition due to the procedures that need to be followed. This guide is aimed at companies experienced in overseas trade who are new to doing business with Brazil. You may be an exporter looking to sell directly to Brazilian customers or through an agent or distributor in Brazil. Alternatively, you may be planning to set up a representative office, joint venture or other form of permanent presence in Brazil.
What does this guide aim to do?
This guide aims to provide a route map of the way ahead, together with signposts to other sources of help. It identifies the main issues associated with initial research, market entry, risk management and cultural and language issues. It also includes questions you should ask at the beginning of your research into Brazil.
It does not cover the regions of Brazil or sectoral opportunities. Neither does it cover the legal, taxation or accounting aspects of setting up a permanent presence in Brazil – but it will point you in the direction of the people, organisations and publications that will be able to answer these and other more detailed questions.
The objective of this guide is to steer companies through the initial research and preparation stages of entering the Brazilian market. It is far better to spend time and money carrying out thorough research and preparation before entering the market than to enter Brazil in a rush, only to discover, when it is too late, that you have made a poor and expensive decision!
UK Trade & Investment is there to help you through this process.
How to use this guide
This guide is designed to be a useful reference to dip in and out of. It should be used in conjunction with the UK Trade & Investment website, www.gov.uk/ukti. The guide will take you through the process of doing business in Brazil, while the website will provide you with regularly updated market and sector information, business opportunities and details of further contacts.
UK Trade & Investment - It's Everyone's Business
About UK Trade & Investment
UK Trade & Investment (UKTI) is the UK government department that can help you achieve your international business potential. They combine the national resources of the Department for Business, Innovation and Skills (BIS) and the Foreign & Commonwealth Office’s (FCO) global network of Trade Development Staff in British Embassies, Consulates and High Commissions, to help companies of all sizes do business in Brazil through a network of international trade teams based in the nine English regions and the devolved administrations in Northern Ireland, Scotland and Wales. In Brazil, there are dedicated trade and investment teams based in the British Embassy in Brasília, the Consulates-General in São Paulo and Rio de Janeiro and the Trade Offices in Porto Alegre and Recife.
UKTI treat every business as an individual, providing a tailored service with specialist support covering a wide range of industries. UKTI services can make a real difference to your business at a very reasonable price – see the contact details at the end of this guide for more information.
Source - UKTI
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