Brazil: Portuguese business mission visits states of Sao Paulo and Minas Gerais

8 April 2008

Sao Paulo, Brazil, 8 April – A mission of Portuguese businesspeople Monday began a week-long visit to the Brazilian states of Sao Paulo and Minas Gerais in order to study business opportunities.

The delegation includes representatives from several sectors, including those with greatest potential to export to Brazil, identified in a recent study ordered by the Council of Portuguese Chambers of Commerce in Brazil.

The study carried out in 2007 identified a potential market of US$8 billion for Portuguese exports.

The study identified 120 Portuguese products, divided into 19 groups, with great competitiveness in the international market that could also be exported to Brazil.

Amongst the products with greatest potential were vehicles, spare parts, electrical material, machines and mechanical instruments.

These products currently represent just 13.7 percent of total Portuguese exports (US$4.6 billion) and 11 percent of Brazilian imports (US$7.6 billion).

In 2007 Brazil exported US$1.8 billion in goods to Portugal, and imported US$341 million in Portuguese products.

In 2007 Portugal was Brazil’s 21st largest market for its products, and teh 48th laregst seller fo goods to Brazil.

Portuguese exports to Brazil are currently focused on 18 products, particularly olive oil, which accounts for 24 percent of the total.

Portugal also exports copper ore, lubricants, machinery and equipment, which together account for just 0.3 percent of total Brazilian imports from Portugal.

Brazilian exports to Portugal are focused on 20 products, mainly crude oil.

Portuguese investment in Brazil totals US$11.7 billion, whilst Portuguese exports to the country totalled just US$341 million in 2007. (macauhub)