Brazil Beyond Stereotypes
British expertise is highly regarded in Brazil and opportunities exist in all sectors. Our team can help UK-based companies with wide-ranging advice, says British Ambassador Alex Ellis.
B
ritain is back in Brazil. Once a dominant economic presence in Brazil, the UK’s attention drifted away from Brazil for much of the 20th century. However, this trend has been reversing over the past few years, demonstrated by the fact that we are now the fourth- largest foreign investor in Brazil, embracing the country’s massive potential.
Brazil is a country changing very fast, with plans for major investment in infrastructure to meet the rising demands of Brazil’s population for better infrastructure and services, particularly in health and education. It is a country hungry for innovative products and offers several high value opportunities (HVOs) in sectors such as oil and gas, marine, healthcare and infrastructure, including infrastructure related to the major sporting events which Brazil is hosting over the next few years.
Solid economic conditions and stability have made the country one of the most important emerging markets. In the past 10 years, because of growth and redistribution, more than 35 million Brazilians have been lifted out of poverty. Now they comprise an emerging consumer class, and are one of the motors of domestic demand.
Brazil is complex, including as a place to do business. The Brazilian
market should be viewed as a long- term option, where success will require patience, and a willingness to research the market thoroughly and to build relationships. In almost
TRADE BETWEEN UK AND BRAZIL
l UK exports to Brazil grew 33.4% (2010-2012), reaching £4.17 billion
(Source: HMT) l Bilateral trade in services has doubled
since 2009, reaching £2bn in 2012. l UK exports of services increased by 20% each year since 2009, reaching £1.5bn in 2012. (Source: ONS)
SOME KEY SECTORS ENERGY
Brazil is the largest energy market in South America and has the second largest oil reserves in Latin America.
HEALTHCARE
Brazil is a major life sciences/healthcare hub in Latin America with a growth rate of 35% over the past 3 years.
WORLD CUP 2014 AND RIO 2016 The HVO project has a target of delivering £250 million worth of contracts to UK companies.
INFRASTRUCTURE Improvement of the infrastructure in ports, airports, rail and roads is vital for continued growth – meaning opportunities for UK firms.
64 GLOBAL OPPORTUNITY 2014 | ISSUE 01
all cases, you will need to identify reliable local partners or locate staff in country, investing in face- to-face meetings and cultivating contacts to finally secure business deals.
Bureaucracy, a complex tax system, high import duties (which may double the FOB price of a product arriving at the distributor) and infrastructure bottlenecks all contribute to the infamous Custo Brasil – the high cost of doing business in this market. It can be particularly challenging for smaller companies.
So why come to Brazil, and does it really pay off? Well, 400 of the world’s 500 biggest companies are here. UKTI and the wider team at the British Embassy and Consulates strongly support and encourage SMEs to take advantage of the vast opportunities. Just in the two sectors of oil, gas and marine, UKTI have helped British companies, many of them SMEs, to secure more than £1.6 billion in contracts in the last 30 months. British expertise is highly regarded, especially in areas of technological competence in which the UK excels. Opportunities exist for foreign partners in the services, construction and energy industries, and possibilities for cooperation on innovation and technology transfer - just to name a few - are booming. We have offices in the biggest
global-opportunity.co.uk
BRAZIL
|
ALEX ELLIS
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