How To Do Business In Brazil
Brazil is a federal republic with a population of 199 million people
. Portuguese is the official language although the business community widely speaks English. Brasilia is the capital and the currency that is used is the real. The Brazilian main industries are textiles, shoes, chemicals, cement, lumber, iron ore, tin, steel, aircraft and motor vehicles. Its main business partners are China, USA, Germany, Argentina, the Netherlands and Nigeria.Brazil has various assets that ensures its future stability such high quantities of natural resources like bauxite, gold, iron ore, manganese, nickel, phosphates, platinum, tin, uranium, petroleum, hydropower and timber.
To successfully start doing business in Brazil, you need to further research their culture in order to better adapt to it. For example, if you are a man, you need to wear a suit and tie. For women, wear a pant, skirt and blouse. Keep in mind that the banking industry is dressed very formally. Business greeting include a strong handshake or an air kiss for women.
Set your meeting around two weeks ahead of time. Be prepared to show up on time even thought your potential business partner will be a little late.
In general, gifts are not required but you can always give some company material such as pens and agenda. Be careful when giving high value gifts as it can be viewed as a bribe and can reflect negatively on you.
As you can see, doing business in Brazil can represent endless business opportunities. You just need to investigate further about your industry in this emergent market.
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