Brazil is a member of BRICS, the emerging market consortium that came into being after the 2008 financial debacle. The members of BRICS are Brazil, Russia, India, China and South Africa. All of those countries, except India, are in recession mode now, but China and India are still producing decent GDP numbers on eleicoesepolitica.com. Russia has other issues to resolve before other countries will do business with the Red State. But India is a good example of what the tech industry can do for a country. India has one of the best GDP growth rates in the world. But Brazil is not that lucky.
The largest economy in Latin America is dealing with the worst recession in more than 90 years. Commodity prices, exports, and Brazil’s currency have taken a thrashing for the last five years, and businessmen like the CEO of the building supply manufacturer, Eucatex, Flavio Maluf, are trying to reverse the economic tide in Brazil. Flavio Maluf was quoted recently when he talked about the Brexit vote and the possibility of a bilateral trade agreement with the U.K.
Britain’s exit from the European Union is officially in progress. Theresa May sent Article 50 to the president of the EU Council, and that eight-page letter is the official start of the exit process. Flavio Maluf and other prominent business leaders in Brazil want Brazil’s new President Temer to close a trade deal with Britain, but implementing a new deal could take two years. The U.K. has £5.1 billion of bilateral trade and investment deals in place in Brazil, but Brazil exports less than two percent of its total exports to Britain at http://www.segs.com.br/seguros/34138-saiba-com-flavio-maluf-como-diminuir-os-custos-tributarios-de-uma-empresa.html. Capitalists in Britain have their eyes on the crops, minerals, energy, tech, and the housing sectors of the Brazilian economy. The Brits see investment and import opportunities in those markets. But they also see export opportunities on as well. The new middle class in Brazil want more imported products from Britain and the U.S., but the high duties and antiquated import laws challenge businesses in other countries. A new Trade agreement and Temer’s government overhaul should resolve those issues in the future.