Brazilian ambassadors stress importance of increased foreign trade

May 13, 2013
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Importance of increased foreign trade

The need to increase foreign trade is reaching urgent levels in Brazil, as per a recent conference attended by several of the country’s leaders.

Ambassadors Rubens Barbosa and Samuel Pinheiro Guimarães spoke to a number of Brazilian Senators during a public hearing on Foreign Relations and National Defense last month and the two indicated that the best way to increase Brazil’s economic potential while improving relations with other nations is by opening up additional trade routes and building new relationships with other countries.

Barbosa and Pinheiro pointed to a number of factors that impacted the current landscape of Brazil’s foreign trade. Barbosa pointed to the fact that foreign trade has quadrupled in Brazil between 2002 and 2012, but indicated that the numbers are slightly skewed and don’t represent what’s happening in the country—domestic consumption is still the driving force behind economic growth, which is a factor that cannot sustain itself going forward.

This news comes in conjunction with last week’s report that Brazil is seeking foreign investors to help upgrade its infrastructure. Currently, Brazil is in need of foreign partnerships, which means this could be a strong opportunity for U.S. businesses. Companies looking to trade with or invest in Brazilian organizations have a good chance to initiate a partnership now while the need is high. However, doing so will require a strong understanding of all laws pertaining to such business practices.

Lawyers in Brazil can offer guidance to any business interested in taking the country up on its various offers.

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