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Reasons for Doing Business with Brazil Brazil is the largest economy in Latin America The 8th largest economy in the world After years with a protectionist economy it is opening for foreign competition Government commitment to privatization and lower tariffs Stable Democratic government Huge potential growth especially in the consumer market Gateway to Mercosul Business Regions Almost 90% of the 162 million people in Brazil live along the coastal regions and most are concentrated in the Southeast. Therefore, most of the Brazilian market is distributed in the same way. Brazil has an urban population of 80% with most urban areas located along the coast. São Paulo The state of São Paulo is probably the most recognized business center in Brazil with around 36.2% of the country's industrial production. The city of São Paulo is one of the largest metropolitan areas in the world and accounts for half of the GDP of the state and 18% of the nation. While the city of São Paulo is highly recognized by the rest of the world, the rest of the state, called the "interior" is often ignored. The interior of São Paulo is a very rich industrial and agricultural region. The interior accounts for 15% of national consumption and is responsible for 25% of the nation's industrial production. Rio de Janeiro Probably the most famous city in Brazil is Rio de Janeiro. Rio is the second largest city in Brazil, more famous for tourism than for international business. However, Rio is not only for tourists. The city has a vibrant business district and many of the benefits from being the former nation's capital up to 1960, like the National Library. Rio de Janeiro is home to many of Brazil's largest and most important companies and many multi-national corporations have their corporate headquarters located in Rio. Belo Horizonte Belo Horizonte is Brazil's third largest city, the capital of the state of Minas Gerais, and one of the fastest growing business centers in the nation. Belo Horizonte is most famous for being the center of a region with rich mineral deposits, representing the state of Minas Gerais which accounts for half of Brazil's mineral production. Precious minerals such as diamonds and gold are still found in the region. Belo Horizonte is also a strong manufacturing center which includes steel products, automobiles and textiles, as well as an agricultural distribution and processing center for the region. Curitiba Curitiba, is the capital of the state of Paraná, located in the south of Brazil. The city has a rich colonization history which includes a large number of German and Italian immigrants. The city has received international attention for its creative and efficient city planning. Curitiba is also one of Brazil's centers of high technology, particularly in the area of information technology. The city recently inaugurated an industrial center called the Software Park, which brings together both technology-based firms and high value added service firms. Other Cities Other cities which are increasingly important and should not be overlooked include, Florianópolis and Joinvile, also centers of high technology, located in the state of Santa Catarina, Porto Alegre in the state of Rio Grande do Sul, Campinas in the state of São Paulo, and of course Brazil's capital, Brasília. Cultural Aspects Brazilians are very friendly people, social interaction is very important. Generally, Brazilian business people like to meet more than once, and they like to get to know one another before doing business. They like to converse over long lunches, and usually drinks are allowed. Brazilians like to take their time when it comes to closing deals, so don't expect business deals to be rushed. Business Attire Suits are common in the work place, especially for executives. However in the Northeast and North, since it is always hot, suits are less common. Business hours are normally from 8:30 AM to 12:00PM, lunch periods usually are from 12 to 2PM and the day ends, between 5 to 6 PM, from Monday through Friday. Commerce hours from 9 AM to 7PM from Monday through Friday and 9 AM to 1 PM on Saturdays, stores are usually closed on Sundays. Shopping Centers open from 10AM to 10PM from Monday-Saturday. Holidays January 1 New Years * Carnaval Five days leading to ash Wednesday April 21 Tiradentes May 1 Labor Day September 7 Independence Day October 12 N.Sa. Aparecida November 2 Memorial Day * November 15 Proclamation of the Republic December 25 Christmas * * most restaurants are closed Aside from these, there are also religious holidays with varied dates. Time Zones Eastern Brazil: Rio/ Salvador/ São Paulo/ Brasilia/ Recife/ Belém/ are 3 hours behind GMT, one hour ahead of NY. Central Brazil: Mato Grosso and Mato Grosso do Sul/ Manaus/ Campo Grande are 4 hours behind GMT. Far West Brazil: Acre/ Western edge of the Amazon are 5 hours behind GMT. Brazil goes on Day light savings Time in October until February, however some states do not observe it. Visa Requirements The Brazilian government requires all visitors except citizens of the European Community (excluding France) and most Latin American nations. U.S. and Canadian citizens are required to get visas from Brazilian Consulates in the U.S. and Canada. Requirements include a valid passport, a letter from an employer for business visas, stating reasons for the visit and guaranteeing financial support of the employee, passport-size photo and a round-trip airline ticket.