Country Seminar: Brazil

The Chamber of Commerce of the Grand Duchy of Luxembourg, in close cooperation with the Embassy of Luxembourg in Brazil and the Embassy of Brazil in Luxembourg as well as the Belgian Economic & Commercial Attachés, will organise a country seminar about Brazil on Friday 22^nd of September 2017. The main purpose of this seminar is to showcase the Brazilian economy and give you an overview of the relations between Brazil and Luxembourg. This seminar is also organised on the occasion of the opening of the first Luxembourg Embassy in Brasilia. Indeed, as of the 1^st of September, Brazil will be the first country of Latin America with a Luxembourg Ambassador having residence in the country. Until today, the Ambassador of Luxembourg to Brazil had his office in Luxembourg and was non-resident.

Being the 5^th largest country in the world from a territory point of view (8,5 million sqm2) and with its large population (206 million inhabitants with 82% living in cities), Brazil is an economic giant with the 9^th largest GDP (1800 billion USD in 2016). It has a wide middle class of more than 100 million inhabitants, thanks to the redistribution policy that was conducted in the past. Despite this, the country continues to face large social problems and remains one of the countries in the world with unequal wealth distribution and strong regional disparities.

After a high growth period, the Brazilian economy started to slow down in 2011 and entered a recession as of 2015. Brazil currently undergoes a deep economic crisis because of the decrease in private consumption and the slowdown of investments. In 2016, the GDP decreased by 3.3%. Nevertheless, 0.5% of growth is expected for 2017, thanks to budget adjustment measures and an increase of investment; a stronger recovery is likely in 2018. For 2017, the first priority of the government is the reform of the pension scheme and of the labour law. The price of raw materials, rising in early 2017, supports exports that are expected to increase sharply, which should allow Brazil to experience the largest trade surplus in its history, driven in particular by Chinese demand. Finally, a slow recovery is in sight in some industrial sectors (automotive and construction). The enormous potential of the Brazilian economy should place it on the radar of most international investors and exporters.

Brazil is the 1^st trade partner of Luxembourg in Latin America, in terms of imports and 2^nd most important after Mexico, in terms of exports.

The seminar will be enhanced by the presence of HE Antonio José Vallim Guerreiro, Ambassador of Brazil to Luxembourg and a video message from HE Carlo Krieger, Ambassador of Luxembourg in Brazil. It is open to all sectors of activities. The programme of the country seminar will include presentations of the business opportunities available to Luxembourg companies, tips on the cultural and business approach and a testimonial by a Luxembourg company already active in the region. Also, as part of the programme, companies will have the possibility to meet the Belgian Economic & Commercial Attachés for bilateral meetings, upon request (See draft programme enclosed).

Interested companies are kindly requested to duly complete the online registration form before Tuesday 19^th of September at the latest. Due to the limited amount of time, business meetings will be fixed on a first come, first served basis.

For further information about this upcoming event, feel free to contact Mrs. Violaine Mathurin/Sabrina Aksil (Tel: 42 39 39-481/374) - E-mail: latinamerica@cc.lu.