UK firms wake up to Brazilian opportunities

As Nick Clegg makes his delayed visit to Brazil this week, with the aim of doubling UK exports to this fast-growing economy, the UK’s former Consul-General in Sao Paolo has written an interesting piece for the BBC’s website. As Martin Raven points out, British business has taken a long time to take Brazil seriously, and this high-level visit replaces one that was due to take place in February but cancelled at less than a week’s notice because of the debate in the House of Commons over the AV referendum - which can hardly have helped. As a result, he says, the UK has fallen behind other countries investment into the Brazilian economy and “there are now more international German companies in Sao Paulo alone than in any individual city in Germany.”

However with a booming domestic market, low dependence on exports, political stability and almost unimaginable abundance of natural resources, Brazil remains a land of opportunity. Add the prospect of the World Cup in 2014 and the Olympics in 2016 and the wonder is that more businesses are not beating a path to the doors of the country.