JOHOR BARU: Malaysian investors and businessmen should visit Brazil to explore the business opportunities and prospects there.
Malaysia External Trade Development Corp (Matrade) deputy director (corporate communication unit), strategic planning division, Khairul Annuar Abdul Halim said the Latin American nation offered good business prospects because of its huge domestic market.
“Brazil is one of the few countries in the world which were not affected by the global recession in 2008 and 2009 as its economy is self-sufficient,” he told StarBiz after briefing participants of a seminar on “Exploring business opportunities in Brazil” organised by the Johor Baru Matrade office.
Khairul, formerly the Sao Paulo Matrade trade commissioner, said with a population of 203 million, Brazil was the biggest economy in South America and second in the Americas after the United States.
He said if Malaysian investors or exporters kept on harping on the distance factor for not going to Brazil, they would eventually lose to those from other countries.
“With the advancement in information technology, you (Malaysian investors) can communicate with your Brazilian counterparts via the cyber world,'' he added.
Having said that, Malaysian businessmen still needed to visit Brazil to establish a relationship with a local businessman as he or she would become their local representative, Khairul said, adding that it was important to have a Brazilian as a representative to handle matters pertaining to investment or export.
With his experience at the Matrade office in Sao Paulo from 2007 to 2011, Khairul said the Brazilian way of doing business was a little bit different from other Latin Americans.
“If you are able to penetrate the Brazilian market, it will pave way for you to venture into other countries in Central America.''
Khairul said the sectors in Brazil which investors should look out for included infrastructure, oil and gas, palm oil products, natural rubber products, port improvement, logistics and transportation.
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