Brazilian business owners want to do deals with China in next 12 months

6 September 2006

Sao Paulo, Brazil, 06 Sept – Brazilian business owners want to carry out business deals with China within the next 12 months, is the main conclusion of a survey carried out by the Economy Commission of the Brazil-China Economic Development Chamber.

According to the survey’s results, of the 68 business owners interviewed, 94 percent plan to do business with Chinese companies within the next 12 months.

The interviews, carried out during the Brazil-China (Shenzhen) Trade and Economy Meeting 2006, organized in Sao Paulo on August 18, showed that more than half the business owners or 52 percent said that the Chinese market was a high priority for their businesses while 43 percent give it a medium-level priority.

More than half of the business owners said they had already sent executives to China and almost half of those interviewed (47 percent) currently have deals underway with Chinese companies.

Amongst the most optimistic sectors are tourism, machinery and tools, economist and president of the Economy Commission of the CBCDE, Paulo Albuquerque told Macauhub.

The interviews showed that 97 percent of business owners consider Brazil to be under prepared for the “commercial war” with other countries.

Despite there being no consensus on Brazil’s exchange rate policy, as 51 percent said the government’s current stance was correct and 37 percent said it was incorrect, almost 60 percent agreed that the government was not acting appropriately to promote the country’s development and growth.

The Brazilian business owners were also questioned by Albuquerque on national protectionist policies and 68 percent disagreed with adopting safeguarding measures against Chinese products.

Sixty percent said they thought it likely that China would announce retaliations against Brazil if the safeguards were put into place and, in that case, the most affected sectors would be agriculture, iron ore, steel, footwear, electronic products and textiles.

The Brazil-China Chamber of Economic Development, which was founded in 2001, is an organization aiming to promote closer ties between government bodies, Brazilian and Chinese associations and business people, in order to consolidate commercial and cultural relations between Brazil and China.

In 2005 the CBCDE became a member of the Chinese Council for Promotion of International Trade (CCPIT) and the Chinese Chamber of International Commerce (CCOIC), with the aim of providing Brazilian and Chinese business people with support for developing their projects in these two countries. (macauhub)