On 15 September
2020, the Embassy of Sri Lanka in Brazil organised a webinar on 'Business
Prospects and Strategies for Effective Business Entry into Brazil' in
collaboration with the Export Development Board (EDB) and the Sri Lankan
Department of Commerce, aimed at introducing the Brazilian market to potential
exporters in Sri Lanka and assisting them in identifying the prospects
available and stringent market entry into Brazil.
Over 40 Sri Lankan
exporters attended the webinar, while over 1600 viewers watched the EDB video
upload. In delivering the welcome remarks, Director of the Market Promotion
Division, Anoma Premathilake, highlighted the importance of organising this
webinar. The trade presence of Sri Lanka in the Latin American region is minimal.
During the keynote speech, Ambassador Musthafa M. Jaffer emphasised the need
for Sri Lankan companies to actively participate in the Latin American area to
gain market access to Sri Lankan exports. The current volume of trade and
market share of exports to the Latin American Region from other Asian
countries, especially Brazil, is very high compared to Sri Lanka. However, many
of them face similar market conditions, a level playing field, and the same
tariff rates.
Maurício Manfré,
the resource person of this webinar, delivered his presentation covering critical
areas of the Brazilian market, including the market opportunities available for
Sri Lanka in Brazil, market barriers and other impediments/challenges,
standards needed, certifications and authorities' knowledge, effective business
strategies, business culture (negotiation/communications).
Manfré, who has
30 years of experience in international business and law, is the Executive
Director of Ultrameres Brazil. He was the former head of the Cabinet's Business
Directorate, responsible for promoting exports, strategic intelligence, and
attracting foreign investment through its international representative offices
in the Brazilian Export Promotion Agency (APEX) under the Brazilian Ministry of
Foreign Affairs.
After the
presentation, the Q&A session helped answer several concerns posed by
companies regarding practical problems they faced while highlighting significant
gaps between Brazilian rules and regulations on imports and other significant
markets. Sri Lankan companies were also encouraged to adopt creative ways of
conducting market penetration during the webinar. The program was also open for
importers and through the initiation of joint ventures, business alliances, and
partnerships with Brazilian companies, all of which will significantly
facilitate access to the MERCOSUR market.
OSL Take: OSL
Take: Sri Lanka has registered continuous growth in its commercial sector by
implementing the latest techniques and technology. Sri Lanka's geographical
position in the Indian Ocean, its ease of doing business, and the many
government-enjoyed trade agreements and trade concessions have also made it an
attractive business destination in the South Asian region. This initiative has
resulted in a further rise in Sri Lanka's trade and bilateral ties with many
countries. Therefore, market prospects for attractive returns in Sri Lanka may
pursue by foreign companies/investors.
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