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You’d be nuts to miss out on Brazil
MORE manufacturers and exporters should be taking advantage of one of the fastest growing economies in the world – Brazil.
That’s the verdict of the Cambridgeshire Chambers of Commerce after analysing June figures which showed that total manufacturing output increased by 4.1 per cent compared to the same month a year ago. Despite the figures being slightly weaker than had been expected, when coupled with a strong increase in May manufacturing, it remains firmly in positive territory compared with the previous year.
So, with problems in the Eurozone still posing serious challenges for exporters, the chamber is encouraging local companies to look to Brazil as a potential new marketplace.
Chamber chief executive John Bridge said: “Brazil has a mature and sophisticated market for most sectors of the economy and is looking for new technologies and modern differentiated products including luxury goods. If a product or service is competitive in world markets it will also be competitive in Brazil. This provides exceptional opportunities for companies to exploit this export target market.”
Chairman of the chambers’ international sector Chris Kubicki added: “Brazil is simply too big a market to ignore, with massive resources and a broad and sophisticated industrial base. 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 is the world’s eighth largest economy and predicted to become the fourth largest by 2050.”
The Brazilian government is currently continuing a programme of privatisation, deregulation and considerable investment in infrastructure, healthcare and education.
Trade between Brazil and the UK was £4 billion last year mainly in Brazil’s favour, with Britain’s market share at 1.9 per cent. The country was largely unaffected by the global recession, and has secured the FIFA World Cup in 2014 and the Olympics in 2016.
UKTI is partnering up with Cambridgeshire Chambers of Commerce to hold a seminar on Thursday, September 30, that will provide companies from across the region with practical advice and support on accessing the Brazil market. Brazil: Maximising Trade Opportunities, from 4.30pm to 8pm, will be held at Wyboston Lakes, Great North Road, MK44 3AR.
n Places can be booked by calling Kelly Hewitt on 01733 370809, or e-mailing k.hewitt@cambscci.co.uk
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Wednesday 22 February 2012
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