While opportunities abroad abound, they are often times fraught with risk. For that reason, internationally-oriented companies benefit from working hand-in-hand with competent legal counsel upon navigating the complex field of foreign trade.
Presentation made by the attorneys Iris Bennett, Partner of the US Law Firm Smith Pachter McWhorter PLC, and her associate Paulo Gusmão, together with André de Almeida and Leonardo B. Leite, partners of Almeida Advogados.
According to the Ministry of Development, Industry and Foreign Trade figures for the first week of February 2009, Brazil exported US$2.7 billion (a daily average of US$548 million) and imported US$2.2 billion (a daily average of US$453.8 million), thus yielding a positive commercial balance of US$471 million and a trade account (the sum of exports and imports) valued at US$5 billion.
Based on the daily average, the Brazilian commercial balance of trade recorded during the first week of February (US$94.2 million) was 110.6% greater than the balance recorded in February 2008 (US$44.7 million).
That same government entity also reported that in 2008, Brazilian companies exported US$197.942 billion (a daily average of US$782.4 million) and imported US$173.207 billion (a daily average of US$684.6 million). During that same year, Brazil enjoyed a balance of trade surplus of US$24.735 billion (daily average of US$97.8 million) and recorded total transactions valued at US$371.149 billion (US$1.467 billion per business day).
In 2008, sales of Brazilian products to international markets increased by 21.8% over 2007 figures (US$642.6 million). Similarly, imports rose by 41.9% from a daily average of US$482.5 million in 2007 to US$684.6 million in 2008.
In 2006, Brazil ranked thirtieth in exports and twenty-fifth in imports worldwide. During that same year, Brazilian exports of services totaled US$17,943 billion, as compared to US$14,855 billion in 2005 (a 20.8% increase). The country’s two strongest trading partners were the United States of America and the European Union, with 76.6% and 82.2%, respectively.
At the same time, imports of services jumped to US$27,149 billion in 2006, a 21.2% increase over 2005, during which time imports reached US$22,409 billion.
Almeida Advogados has significant experience in rendering legal services to Brazilian companies doing business abroad, as well as foreign companies with investments in Brazil. Our aim lies mainly in identifying new opportunities and reducing the risks inherent in international business transactions.
Besides advising on claims and arbitration related to trade and investments governed by the World Trade Organization, Almeida Advogados assists international companies by preparing the corresponding agreements and memorandums of understandings, among other documents.