How To Do Business In Brazil

This federal republic boosts a population of close to 200 million people with its official language as Portuguese. There are a lot of other important communities that speak Spanish, German, Japanese, English and other Amerindian languages. Its currency is the real and its capital is Brasilia. Its most important industries are textiles, shoes, chemicals, cement, lumber, iron ore, tin, steel, aircraft and motor vehicles. Brazil's main business partners are the US, China, Argentina, Germany, Nigeria and the Netherlands.

Brazil has very large quantities of natural resources including the largest recent oil find since the year 2000 insuring that it will be able to support their fast growing economy. Their natural resources include bauxite, gold, iron ore, manganese, nickel, phosphates, platinum, tin, uranium, petroleum, hydropower and timber.

As a foreigner, you will need to adapt yourself to the Brazilian culture therefore you need to know the basic business etiquette of the country. To start, the dress code for men is a suit and tie. For woman, it is pants or a skirt with a blouse. People in the banking industry usually dress more formally. Business greetings are usually done with a firm handshake, a tap on the back and an air kiss for women.

Try to plan your meeting two weeks ahead of time. Always come on time for your meetings even your Brazilian counterpart will probably be a little late. Prepare meetings to go well into lunches and dinners.

Overall, gifts are not expected but you can give still go ahead by offering some company material such as agendas or pens. Be aware that expensive gifts can sometimes be perceived as a bribe and can be badly looked upon so don't take too many risks there.

As you can see, trading in Brazil can be very lucrative for your company. You need to carefully look at the opportunities that your industry offers in this fast growing market and start planning on how to penetrate this market.

By: joshadekane1

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Ariel Dess specializes in helping companies successfully do business with Latin America. To access to his valuable resources, tips and links, click here free leads