|
CANADA-BRAZIL
Great Opportunities for Foreign Investors
 Mr. Fernando Jacques de Magalhães Pimenta, Consul General of
Brazil in Montreal, said in an interview with Diplomat
Investment Newspaper, that Canada and Brazil has a long
history of investment and trade relations. The province of
Quebec, in general, and Montreal, in particular, he said, is
home to many companies doing business with Brazilian
companies also showing their wares in Quebec trade events.
He
believes that both initiatives – the trade missions and the
participation in commercial exhibitions - have contributed to
the establishment of business relationships that will benefit
both countries. The upcoming trade mission led by the governor
of the Brazilian State of Paraná (May 8-13, 2004) will
contribute to furthering business ties between Brazilian and
Quebec companies, especially in the sectors of energy,
forestry and agriculture. Brazil offers great opportunities
for foreign investors, ranking fourth among developing
countries in terms of foreign direct investment (FDI) inflows.
In 2002, Brazil received US$ 25 billion in FDI. Brazilian
legislation sets out advantageous conditions for foreign
direct investment. Foreign capital enjoys the same treatment
as domestic capital. Furthermore, there are no limits on the
repatriation of profits and dividends. Sectors such as
infrastructure, industrial machinery and equipment,
electronics, biotechnology and information and communication
technologies could be of interest to Quebec companies.
Mr. Fernando Jacques de Magalhães Pimenta, said that
Globalization and the intensification of economic competition
among nations have undoubtedly changed the nature of
diplomacy. Diplomats are being called to negotiate trade
agreements on behalf of their countries and spearheading the
effort to identify markets for Brazilian goods and services.
The Ministry of Foreign Relations of Brazil has made an
impressive effort to modernize its trade policy and trade
promotion branches and provide them with specialized personnel
and resources. These efforts have led to the creation of its
foreign trade gateway, BrazilTradeNet (www.braziltradenet.gov.br),
whose objectives are to offer the Brazilian business community
information about opportunities for exporting goods and
services and to publicize openings for foreign investment in
Brazil. The Consulate General in Toronto concentrates all the
Brazilian trade promotion activities in Canada. Despite this
fact, the Consulate General in Montreal is ready to assist
Brazilian entrepreneurs who want to do business with Canadian
companies in the provinces within our jurisdiction, which
comprises Quebec and the Maritimes. Understanding that trade
relations are a two-way street, we are always willing to give
a helping hand – to the extent of our capabilities – to
Canadian companies interested in initiating or expanding
business ties with Brazilian counterparts, he concluded.
|
