Brazil – a distant,diverse and complex country,yet dynamically developing and offering a market with over 200 million consumers. For entrepreneurs interested in expanding to foreign markets,in this type of countries it is particularly important to use the knowledge of specialists and the experience of companies that have already paved the way.

This opportunity was offered by the Brazilian Embassy in Warsaw and the Polish-Portuguese Chamber of Commerce,which,with the support of Ebury,organized the “Doing Business in Brazil” seminar. This eighth edition of the event took place on October 8 in Warsaw,this time at the headquarters of Ebury Polska.

It is worth noting that the seminar – although cyclical – takes place each time in different circumstances and brings new,up-to-date information. This year it took place in a dynamic and promising period for Polish-Brazilian relations,when we are waiting for the entry into force of the double taxation avoidance agreement and the ratification of the free trade agreement between the European Union and Mercosur,and changes on the global political scene raise questions about the directions of companies’ expansion.

In the current,uncertain reality,Brazil is a privileged country whose main challenge is sustainable development and wealth generation,and for this it needs foreign partners – said the Brazilian Ambassador,Haroldo de Macedo Ribeiro,in his opening speech.

The Ambassador pointed out that cooperation between Poland and Brazil is particularly important in the context of the changing geopolitical situation in the world,and the European Union should regain its position as the main trading partner of Brazil and Latin America,which it lost to China and the United States.

The entry into force of the agreement between the European Union and Mercosur will be a strategic step for the development of relations between Poland and Brazil. However,with or without an agreement,Brazil has a deep interest in developing bilateral trade and investment between our countries – he emphasized.

During the first presentation,Vincent Furlan,Policy Specialist at the European office of the Brazilian Trade and Investment Promotion Agency ApexBrasil in Brussels,highlighted the enormous opportunities offered by Brazil,with an economy worth USD 2.3 trillion,a market of 212 million consumers and access to natural resources,critical raw materials,as well as technologies and distribution channels.

Proof of Brazil’s attractiveness for foreign investors is the fact that it has been among the 10 main recipients of foreign direct investment for 10 years. – he noticed.

He also emphasized the benefits that the agreement between the European Union and Mercosur will bring to Polish entrepreneurs,which will create the largest free trade zone in the world,with over 700 million consumers. The speaker drew attention to the complementarity between Polish and Brazilian production in the agricultural sector,and reminded that the above-mentioned agreement will provide investors with greater transparency and stability of legal regulations.

Joyce Peixoto and Roman Ziruk from Ebury,an international fintech operating in many countries (including Poland and Brazil),presented the current economic situation in Brazil and the economic development prospects,and analyzed bilateral trade between Poland and Brazil. They also presented their company’s activities in the field of cross-border payments and funds management in various currencies.

Isadora Schwartzmann,partner at CQTD Advogados,talked about legal issues in the context of expansion into the Brazilian market. She introduced Polish entrepreneurs to the Brazilian tax system and the procedure for registering a company in Brazil. During her presentation,there was also time to highlight the advantages of the Brazilian economy,which is becoming more and more mature,as evidenced by the development of technology and innovation.

She interested the participants with the information that Brazil already has 31 unicorns,and São Paulo has become the main center for startups in Latin America,especially in the fintech and agritech industries. The lawyer agreed with her predecessors that the agreements on the avoidance of double taxation between Poland and Brazil and on free trade between the two blocs will open new opportunities,also for Polish exporters,in particular from the industrial sector.

The block ending the official part of the seminar was a discussion panel with the participation of the Director General of the Polish-Portuguese Chamber of Commerce (PPCC),Sylwia Królak-Kolędy,and Marta Grzelińska-Adamczyk,Global Director for Medical Partnerships at Saventic Health,and Marek Winter,Director at the logistics company PFC24. During the conversation,seminar participants had the opportunity to listen to practical information and testimonies of people who already have experience on the Brazilian market.

Sylwia Królak-Kolęda admitted that the rapidly changing Brazilian market,with its complicated tax system,may be a challenge for Polish companies,but with the help of appropriate partners and institutions there is nothing to be afraid of.

– As PPCC,we observe the growing interest of Polish companies in the Brazilian market. Since 2016,we have been organizing dedicated business missions to Brazil twice a year,supporting entrepreneurs in exploring local opportunities and building lasting partnerships. So far,over 50 companies have participated in the missions,and over 500 business meetings in various sectors have been held in Brazil. Some companies are already actively operating on the Brazilian market,others are still undergoing the certification process or adapting their business models – which is a natural stage in such a complex and promising market. Interest in this direction does not wane,which shows that Brazil is becoming an increasingly important market for Polish exporters. As a Chamber,we support companies at every stage of their mission – before departure,during their stay and after return – so that they can take full advantage of the opportunities offered by this dynamic and relationship-based market,she explained.

She advised Polish entrepreneurs interested in Brazil that it is very important to meet potential partners and build real-life relationships,which the other panelists agreed with.

The event gathered over 70 entrepreneurs interested in business cooperation with Brazil,representing companies from various industries – including: medical and pharmaceutical sector,IT and new technologies,industry,trade,consulting. During the seminar,the participants,including companies already actively cooperating with Brazil and those just looking for opportunities in this market,learned why it is worth choosing Brazil,what legal and cultural challenges are worth preparing for,and where they can look for support. For representatives of business and the public sector present at the seminar,the event also turned out to be a great opportunity for networking and conversations over Brazilian drinks and snacks.