Trade relations between Brazil and Portugal are still small compared to the other countries. For the director of the Luso-Brazilian Chamber of Commerce and Industry and coordinator of the organization’s innovation committee, José Manuel Diogo, there is room to increase these negotiations. “Brazil can use the Portuguese market as a facilitator to enter the European Union,” he says. Today, Portugal imports from Brazil less than 3% of their total purchases abroad and only 0.8% of Brazilian exports are destined to Portugal. In the overall ranking, Portugal occupies the 31st place among Brazilian export partners, with a balance of US$ 951.6 million (R$ 4.8 billion in today’s exchange rate, 30/7). However, Brazil can increase its exports to Portugal by up to 74%, without making any structural changes, says the director. Diogo explains that Brazilian producers can use points in common – such as the same language and history – to enter the Portuguese market.
Source: Revista Dinheiro Rural (*Translated by Ia Niani)