INTERNATIONAL TRADE
TRAINING & EVENTS MARCH
SPOTLIGHT ON: BRAZIL
Brazil, the largest country in South America and Latin America and home to over 208 million people, is, unsurprising, the seventh biggest economy in the world and an attractive market for overseas businesses. Brazil was responsible for three
Export documentation Venue: Nottingham Date: 22 March Time: 9am-4.30pm
APRIL
Letters of credit Venue: Chesterfield Date: 3 April Time: 9.30am-4.30pm
Export foundations Venue: Nottingham Date: 5 April Time: 9.30am-4.30pm
Understanding commodity coding Venue: Chesterfield Date: 11 April Time: 9.15am-12.30pm
Rules of origin and international trade preferences (NEW) Venue: Chesterfield Date: 11 April Time: 1.15pm-4.30pm
Authorised economic operator (AEO) – Impact on exporters Venue: Leicester Date: 11 April Time: 9.30am-4.30pm
per cent of global Gross Domestic Product (GDP) in 2014 and about one per cent of global trade in 2015. Brazil’s services sector accounts for more than two-thirds of its GDP, followed by industry and agriculture. The combined value of these sectors was USD 1.6tr (BRL 5.9tr) in 2015. Four hundred of the world’s
500 largest companies already operate in Brazil. These include many UK companies, such as Rolls Royce, BP, JCB, Rexam, Experian and Shell. Brazil has European business
and culture practices which are globally integrated, politically stable and benefits from a modern banking system, all of which offer good potential to an overseas
company looking to penetrate this market. Brazil also has a rapidly growing labour force and consumer base, with more than 35 million Brazilians lifted out of poverty into the emerging middle class over the past ten years. That said, it is not without challenges. Brazil has complex tax and regulatory systems and in a country where, in business, personal contact is important, its vastness means long journeys between cities and states, where cultures can vary significantly. Brazil and the UK have a long-
established trade and investment relationship. UK goods exports, mainly comprising machinery, vehicles, pharmaceuticals and
Brazil benefits from European business practices
electrical appliances, more than doubled between 2002 and 2012. UK services exports were 59% higher in 2014 than in 2009. In 2015, although overall imports into Brazil fell by 14.3%, UK goods exports only fell by five per cent. This market presents huge opportunities for East Midlands businesses. For example, Brazil’s healthcare market is worth £78bn, representing 10.2% of GDP, driven mainly by the medical device market. Further opportunities exist in this sector in e-health and the design and management of hospitals. Brazil’s £6.7bn investment plan
aims to make sanitation services available to all by 2033, and
36 business network March 2018
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