Playing host to the 2014 FIFA World Cup and the 2016 Olympic and Paralympic Games, we discuss why now is the time to start trading with Brazil…
What do you think of when you think about Brazil? Beaches, sunshine and samba perhaps? Well, how about: the world’s fifth largest country, sixth largest economy in the world, a population of approximately 185 million and a GDP per head that’s greater than India or China?
Thought not. Yet, these are the stats that are putting Brazil on the map. And as the country prepares to take center stage, hosting both the 2014 FIFA World Cup and 2016 Summer Olympic and Paralympic Games, all eyes are on the South American powerhouse.
Britain has been trading with Brazil for over 200 years and, as the two countries have shared goals and interests, with both playing host to the Olympic Games in the relatively near future, now is the time for British companies to accelerate their partnership with Brazil.
In fact, UKTI has researched the opportunities available to the UK construction industry arising in Rio de Janeiro, directly or indirectly, from hosting the 2016 Olympic Games. The majority of major construction contracts have already been won, but there are still plenty of areas that need solutions. Opportunities abound in a host of areas, including: security planning and systems, stadium management, transport planning, stewarding, CRM, revenue optimization and staff training.
Beyond the Olympics, due to the rapid growth of the country, the construction industry is close to its capacity limit, providing myriad opportunities for British businesses to help improve services.
Brazil is home to the world’s largest reserves of tropical rainforest, biodiversity and flows of fresh water. Companies are committing to improving their environmental impacts, meaning great opportunities in the environmental and water sector.
Further business opportunities can be found in the software and services, food and drink and telecommunications sectors. For more information on the prospects available in different sectors, click here.
In Nick Clegg’s visit to Brazil last year, he talked of the two countries’ relationship: “Trade ensures nations have a stake in each other’s success, in working together peacefully, constructively and towards the same goals. It’s how we make a real difference for our citizens.”
The UKTI’s Brazil Business Guide suggests there is strong evidence that ‘many British companies are not aware of the size and level of opportunity that exists in Brazil’. However, someone who has recognised the potential of the country and its booming economy is Prince Harry, who recently visited Brazil as an ambassador for British trade and the Olympics.
Often described as a continent inside a continent, the size of Brazil means it’s rich with natural resources. And with a broad industrial base and a government that is working hard to pull the country into one of the top economies in the world, there doesn’t seem a better time for businesses to test the South American waters.
But remember. As with any country you’re thinking of doing business with, research is paramount. Language, culture and etiquette are all barriers you’ll need to overcome. Companies that spend time learning and understanding these are likely to go further in their international business ventures.
You can find more guidance about trading with Brazil from the following:
– Export to Brazil: An essential country and customs guide to Brazil
– Sunny Sky Solutions: making it easier to do business with Latin America
– DHL Brazil Country Guide: information on exporting to Brazil
– UKTI: working with UK-based businesses to ensure their success in international markets.
– British Chambers of Commerce: offering advice and support to British businesses.