Brazil, a country in South America, is known for its cultural diversity and expansiveness. It is a diverse nation that covers much of South America’s east coast & it borders the Atlantic Ocean (CultureGram, n.d.).
It is located in South America’s eastern region and it is the biggest country on this continent (CultureGram, n.d.). It allows access to all other countries of South America except Ecuador and Chile (CultureGram, n.d.).
The population of Brazil has reached 205.35 million in 2024, making it the sixth most populated country in the world. Nevertheless, according to the latest records available, population growth rate has dropped to about 0.72% per year (CultureGram, n.d.).
Brazil is considered a melting pot of races with most Brazilians identifying themselves as whites (Portuguese, Italian, Polish etc.), mixed race (Pardo), or blacks (CultureGram, n.d.). Indigenous people make up a smaller proportion of the population. (CultureGram, n.d.) The majority are Roman Catholics whereas there are also significant numbers of adherents to Protestantism; Spiritism practiced by many; Afro-Brazilian religions and others (CultureGram, n.d.).
Portuguese is the official language and is spoken by nearly all of the population (CultureGram, n.d.). There are also a number of indigenous languages spoken throughout the country (CultureGram, n.d.).
The climate in Brazil varies from the north to the south. The Amazon region is known for its tropical rainforest climate, while the central part of Brazil has a more tropical savanna climate (CultureGram, n.d.). The south of Brazil has a subtropical climate with distinct seasons including the dry season: March to November, winter from June to September, and December to February: the rainfall season (CultureGram, n.d.).
Brazil spans multiple time zones, so it depends on which part of Brazil you're considering (TimeZones, n.d.). The time zone in Toronto, Canada, which follows Eastern Standard Time (EST), is UTC-5. However, during daylight saving time, it's UTC-4 (TimeZones, n.d.).
Most parts of Brazil are in the Brasília Time Zone (BRT), which is UTC-3 (TimeZones, n.d.). Some regions of Brazil do not observe daylight saving time, while others do. If considering Brasília, which does not observe daylight saving time, the difference is typically 2 hours ahead of EST (TimeZones, n.d.). However, when Toronto is on daylight saving time (EDT), the difference would be 1 hour ahead.
The Beautiful Country of BRA ZI
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Capital and Major Cities
Brazil's capital is Brasília, located in the central part of the country. It has a population of around 3 million people and is known for its modernist architecture designed by Oscar Niemeyer, as well as being a planned city and an administrative center (Cities, n.d.). Major cities in Brazil include: 1. São Paulo - Located in the southeastern part of Brazil, São Paulo is the largest city in the country with a population of over 12 million in the city proper. It's known for its economic and cultural importance, being a global financial center and home to numerous cultural institutions (Cities, n.d.). 2. Rio de Janeiro - Situated in the southeast, Rio has a population of around 6.7 million. It's famous for its breathtaking landscapes, Carnival festival, Christ the Redeemer statue, and beaches like Copacabana and Ipanema. The city is also a key hub for the oil and gas industries (Cities, n.d.). 3. Salvador - In the northeastern state of Bahia, Salvador has a population of about 2.9 million. It's known for its Afro-Brazilian culture, historic Old Town (a UNESCO World Heritage Site), and as a major port and tourism center (Cities, n.d.). 4. Fortaleza - Located in the northeast, Fortaleza's population is roughly 2.7 million. It's known for its beaches, as a cultural center, and for the textile industry (Cities, n.d.). 5. Belo Horizonte - With a population of about 2.5 million, this southeastern city is known for its contribution to the steel industry and as a service and technology center (Cities, n.d.). 6. Manaus - Located in the northwestern part of Brazil in the Amazons, it has a population of about 2 million. Manaus is known as a gateway to the Amazon rainforest and for its free economic zone, which has attracted many electronic manufacturing industries (Cities, n.d.). 7. Curitiba - In the south of Brazil, Curitiba has a population close to 1.9 million. It's known for its urban planning, environmental policies, and as an economic hub in the region. (Cities, n.d.) 8. Recife - With a population of around 1.6 million, Recife is located in the northeast and is known for its port, beaches, and as a cultural and historic museums and landmarks (Cities, n.d.). 9. Porto Alegre - Situated in the southern part of Brazil, it has a population of about 1.5 million. Porto Alegre is recognized for its rich cultural history, the export of agricultural products, and as a major industrial centers (Cities, n.d.).
Brazil has an extensive transportation network. As of 2021, Brazil had approximately 29,303 kilometers of railways, 1,751,868 kilometers of roadways, and around 50,000 kilometers of navigable waterways. In terms of airports, Brazil has a significant number of airports. There are over 4,000 airports in Brazil, including small airstrips and larger international airports. Among these, around 700 are paved airports with runways suitable for larger aircraft. This is the latest data, however, Brazil's transportation infrastructure is always evolving, so the figures for railways, roadways, waterways, and airports have slightly altered within the last three years.
Communication Systems
Brazil's communication infrastructure exhibits a complex and multifaceted landscape, reflective of the country's vast geographical expanse and diverse socioeconomic conditions (ICT, 2023). The telecommunications sector has undergone substantial liberalization and privatization since the 1990s, leading to significant advancements in both internet and telephone services. Internet penetration has seen a marked increase, with a notable surge in mobile internet access driven by the widespread adoption of smartphones (ICT, 2023). However, the quality and availability of internet services vary considerably, with urban areas enjoying higher speeds and more reliable connectivity than rural regions, which still face challenges due to limited infrastructure. The telephone network is extensive, with a high density of mobile phone usage eclipsing that of landlines (ICT, 2023). The competitive market among various service providers has contributed to improved service quality and accessibility. Nonetheless, disparities in access to communication technologies persist, influenced by factors such as income inequality and geographic barriers, which the government and private sector are striving to address through policy initiatives and investment in network expansion (ICT, 2023).
In 2024, Brazil and Canada have engaged in a dynamic exchange of imports and exports across various sectors, reflecting the strong economic ties between the two countries. Potassium fertilizers (C$191M), packaged medications (C$9.28M), gas turbines (C$9M), harvesting machinery (C$6.81M), and commodities not elsewhere mentioned (C$3.4M) were Canada's top exports to Brazil in February 2024 (Canada / Brazil, n.d.). Gold (C$182M), Aluminum Oxide (C$151M), Planes, Helicopters, and/or Spacecraft (C$81.2M), Raw Sugar (C$62.5M), and Coffee (C$27.8M) were Canada's main imports from Brazil (Canada / Brazil, n.d.). This exchange of goods contributes to the bilateral trade relationship, fostering mutual economic growth and cooperation between the two nations.
T R A D E
The Labour Force
In terms of size, Brazil's labor force is estimated to be around 105 million people (Brazil-Labour, n.d.). The typical occupations in Brazil vary widely, but some of the common ones include agricultural workers, industrial laborers, service industry employees, healthcare professionals, teachers, engineers, and administrative staff (Brazil-Labour, n.d.). Agriculture remains a significant employer, particularly in rural areas, where workers are involved in cultivating crops like coffee, sugarcane, soybeans, and oranges. The manufacturing sector also plays a crucial role, with workers involved in industries such as automobile production, textiles, and electronics. The service sector is a major employer in urban areas (Brazil-Labour, n.d.), encompassing a wide range of occupations such as retail workers, hospitality staff, finance professionals, and IT specialists (Brazil-Labour, n.d.). Additionally, Brazil has a substantial informal economy, where individuals engage in activities like street vending, domestic work, and small-scale entrepreneurship (Brazil-Labour, n.d.). Overall, the labor force in Brazil is diverse, reflecting the country's economic structure and providing employment opportunities across various sectors.
Post-Secondary Institutions
Brazil is home to a diverse range of post-secondary institutions that offer opportunities for higher education across various fields of study. Some prominent universities in Brazil include the University of São Paulo (USP), the University of Campinas (UNICAMP), and the Federal University of Rio de Janeiro (UFRJ) (Study, n.d.). These institutions are known for their research contributions and academic excellence in areas such as engineering, medicine, social sciences, and the arts. Additionally, Brazil has a network of federal and state universities, as well as private institutions, that provide a wide array of undergraduate and graduate programs to students (Study, n.d.). The country's higher education system is continually evolving, with efforts to enhance quality and accessibility through government initiatives and academic collaborations (Study, n.d.).
Natural Harzards and Environmental Issues
Brazil faces various national hazards and environmental issues that impact its population and ecosystems. Some of the significant hazards include flooding, landslides, and droughts, especially in regions like the Amazon rainforest and coastal areas (Pivette, n.d.) . These natural disasters can cause significant damage to infrastructure and livelihoods, posing risks to human lives and the environment (Pivette, n.d.). In terms of environmental issues, Brazil grapples with deforestation, particularly in the Amazon rainforest, which is a critical global ecosystem (Pivette, n.d.). Illegal logging, agricultural expansion, and mining activities contribute to deforestation, leading to biodiversity loss, habitat destruction, and climate change impacts (Pivette, n.d.) . The country also faces challenges related to water pollution, air pollution, and waste management, affecting public health and environmental sustainability. Efforts are being made to address these issues through conservation initiatives, sustainable development practices, and environmental regulations to protect Brazil's natural resources and mitigate the impact of hazards and environmental degradation (Pivette, n.d.).
Challenges
Brazil's current political and social challenges are multifaceted and deeply interwoven with the country's recent history and economic situation.
Political
Politically, Brazil has been dealing with issues such as political corruption, which has led to widespread public distrust in politicians and institutions (Events, 2023). This is exemplified by operations like "Lava Jato" (Car Wash), which uncovered large-scale corruption schemes involving state-controlled companies and high-level officials (Events, 2023).
Social
Socially, Brazil faces significant inequality, with a considerable gap between the wealthy and the poor (Events, 2023). High levels of violence and crime, particularly in urban areas, are also major concerns, as is access to quality education and healthcare (Events, 2023). The country has been working to address these social issues, but progress is often slow and complicated by the political landscape (Events, 2023).
Type of Government: Brazil is a democratic nation with a federal and presidential system of governance(Events, 2023). Civil liberties are firmly safeguarded under the existing constitution(Events, 2023). Along with many other rights, it also ensures access to healthcare, daycare, and work(Events, 2023). After years of military dictatorship, the nation became a democracy in 1985 and has since seen a peaceful transfer of power (Events, 2023). It has an independent judiciary, media, and central bank.
Corruption/Transparency: Brazil's Corruption Perceptions Index score did not change from 2020 to 2022, being 38 points (Corruption, n.d.). Yet, the nation received 36 points in 2023 (Corruption, n.d.). Uruguay is thought to be the nation in Latin America with the best perception of corruption; Brazil's corruption perception index is about half that of Uruguay (Corruption, n.d.). This index is a composite indicator that takes into account information about how corruption is seen in relation to public procurement, bribery of public officials, misuse of state funds, and the efficacy of anti-corruption initiatives by governments. A score of 100 suggests that there is no perception of corruption in the given nation, while a score of 0 represents the lowest possible score (Corruption, n.d.). Brazil was ranked 104 out of 180 countries for being the least corrupt in 2023 (Corruption, n.d.).
The current president of Brazil: Luiz Inácio Lula da Silva On October 27, 1945, in the Brazilian rural Pernambuco state of Garanhuns, he was born (Events, 2023).
A representation of Brazils corruption rankings since 2012 (Corruption Perceptions Index)
Major international political and territorial disputes
POLITICAL
TERRITORIAL
Amazon Rainforest Deforestation: Brazil's management of the Amazon rainforest has been a significant point of contention. Concerns from environmental groups and other nations about deforestation rates, illegal logging, and the impact on global climate change have led to disputes between Brazil and various international actors, including European countries and environmental organizations (Roy, 2022).
Trade Disputes: Brazil has been involved in trade disputes with several countries and blocs, including the United States, the European Union, and China (Roy, 2022). These disputes often revolve around tariffs, agricultural subsidies, and intellectual property rights (Roy, 2022).
Diplomatic Tensions with Venezuela: Brazil has been critical of the Venezuelan government's human rights record and democratic practices (Tensions, 2023). Tensions between the two countries have escalated at times, particularly during the presidency of Jair Bolsonaro, who openly supported Venezuelan opposition leader Juan Guaidó (Tensions, 2023).
Global Health Policy: Brazil's response to health issues, such as the COVID-19 pandemic, has drawn international scrutiny (Healthcare, .d.). The handling of the pandemic by President Bolsonaro's administration, including controversial statements and policies, has led to criticism from other countries and international health organizations (Healthcare, n.d.).
Indigenous Rights: Brazil's treatment of its indigenous populations has been a subject of international concern (Indigenous, n.d.). Disputes over land rights, resource extraction, and environmental protection have led to clashes between indigenous groups, the government, and international human rights organizations (Indigenous, n.d.).
Brazil does not have major international territorial disputes in the traditional sense, where two or more countries claim the same piece of land. However, there have been historical and ongoing territorial disputes involving indigenous lands, particularly in the Amazon region. These disputes primarily revolve around indigenous land rights and protection. 1, Indigenous Land Rights: Indigenous communities in Brazil have long-standing claims to ancestral lands, many of which are in the Amazon rainforest (Indigenous, n.d.). These lands are vital for their cultural identity, subsistence, and traditional way of life. However, the expansion of agriculture, logging, mining, and infrastructure projects has encroached upon indigenous territories, leading to conflicts and disputes over land rights (Indigenous, n.d.). 2. Protected Areas: Brazil has established protected areas, such as national parks and conservation units, to preserve its rich biodiversity (Roy, 2022). However, these areas often overlap with indigenous territories, leading to tensions over land use and management between indigenous groups, environmentalists, and government agencies (Roy, 2022). 3. Illegal Land Grabbing and Deforestation: Illegal land grabbing and deforestation pose significant threats to indigenous lands in Brazil (Hanusch & Braganca, 2023). Criminal networks, often linked to logging, mining, and agribusiness interests, illegally occupy and exploit indigenous territories, leading to conflicts and environmental degradation (Roy, 2022). 4, Border Security: While Brazil shares borders with ten countries in South America, there are no major territorial disputes with neighboring countries (Tensions, 2023). However, issues related to border security, such as drug trafficking, illegal migration, and smuggling, have occasionally strained relations with neighboring countries, particularly Colombia and Bolivia (Tensions 2023).
Economic Information
Type of Economic System: The second-biggest economy in the Americas is Brazil's. It is a mixed economy in development with an upper-middle income (Brazil - IMF, n.d.). Brazil's GDP and purchasing power parity rank eighth and eighth, respectively, in the world in 2024, according to the International Monetary Fund (IMF).
GDP: In 2024, the GDP per capita in Brazil was $15,464.55 CAD. Additionally, the real growth rate was 2.2% in 2024 (Brazil, n.d.). Domestic Currency: The Brazilian Real (R$) (Brazil n.d.). Inflation rate (2024): 3.8% (Brazil, n.d.). Unemployment rate (2024): 8% which was a decrease by 1.8% to the previous year (Brazil, n.d.). National minimum wage (2024): R$1,412.00 per month = $371.89 CAD Unionization rates: The latest data dates back to 2022 where the unionization rate, for 99.6 million employees, was 9.2% (9.1 million persons)
1 BRL = 0.26 CAD
Everything Trade
The top exports of Brazil are Soybeans ($47.2B), Crude Petroleum ($43.1B), Iron Ore ($30.1B), Refined Petroleum ($12.9B), and Corn ($12.4B), exporting mostly to China ($90.1B), United States ($36.6B), Argentina ($15.4B), Netherlands ($11.8B), and Spain ($9.78B) (Country, n.d.).
The top imports of Brazil are Refined Petroleum ($23B), Crude Petroleum ($8.78B), Motor vehicles; parts and accessories ($7.96B), Potassic Fertillizers ($7.59B), and Mixed Mineral or Chemical Fertilliers ($7.44B), importing mostly from China ($64B), United States ($49.4B), Germany ($13.5B), Argentina ($12.6B), and India ($9.78B) (Country, n.d.).
Being the world's top producer of phosphate, iron ore, and tin, Brazil is endowed with an abundance of natural resources. Diamonds, manganese, chromium, copper, bauxite, and a variety of other minerals are prevalent in its deposits. Nevertheless, the nation lacks substantial oil reserves (Economy, n.d.).
Canada and Brazil engage in trade under the framework of the Canada-Mercosur Free Trade Agreement negotiations. Mercosur is a South American trade bloc that includes Brazil, Argentina, Paraguay, and Uruguay (Canada-Brazil, n.d.). These negotiations aim to reduce trade barriers between member countries and Canada, which would facilitate the exchange of goods and potentially services (Canada-Brazil, n.d.). A full free trade agreement has not been finalized, but both countries have expressed interest in enhancing their trade relationship (Canada-Brazil, n.d.).
Brazil is a member of several major international trade organizations and agreements. Some of the key ones include: 1. Mercosur (Southern Common Market): Brazil is a founding member of Mercosur, a regional trade bloc in South America that aims to promote economic cooperation and integration among its member countries (Agreements, 2023). 2. World Trade Organization (WTO): Brazil is a member of the WTO, which sets global trade rules and facilitates negotiations to reduce trade barriers and promote international trade (WTO, n.d.). 3. BRICS: Brazil is part of the BRICS grouping, which includes Brazil, Russia, India, China, and South Africa. This group aims to enhance cooperation and promote economic development among its member countries (Attia, 2016). 4. G20: Brazil is a member of the G20, which is a forum for major economies to discuss international economic cooperation and policy issues (G20, n.d.). These organizations and agreements play a significant role in shaping Brazil's trade policies and interactions with other countries on the global stage.
Laws and Regulations
Brazil's trade and taxation system includes a range of tariffs, taxes, regulations, laws, and environmental requirements that can be complex due to its federal structure. The country imposes tariffs on imports, which are classified according to the Mercosur Common Nomenclature, and these can vary depending on the product and the country of origin. In terms of taxes, Brazil has several layers including federal, state, and municipal taxes (Barriers, 2023). Corporate taxes include the Imposto sobre a Renda de Pessoa Jurídica (IRPJ) at a federal level, with a basic rate of 15% and a surtax of 10% on annual profits above a certain threshold (Corporate, 2023). Additionally, there is the Contribuição Social sobre o Lucro Líquido (CSLL), a social contribution on net profits, usually at 9% (Corporate, 2023). Regulations and laws in Brazil are also multifaceted, covering various aspects of business operations, including labor laws, which are governed by the Consolidation of Labor Laws (CLT), and business regulations, which are overseen by different regulatory agencies depending on the sector (Corporate, 2023). Environmental requirements in Brazil are stringent, given the country's rich biodiversity. The Brazilian Environmental Policy includes licensing and impact assessment procedures, and the Brazilian Institute of Environment and Renewable Natural Resources (IBAMA) is responsible for enforcing environmental laws and regulations (Environmental, n.d.). Please note that this information provides a general overview, and specific details can change. It's important for businesses to consult with local experts or legal counsel to ensure compliance with current Brazilian laws and regulations.
How is Brazils Economic State Good for Business
The current state of the Brazilian economy provide a favorable environment for businesses to prosper. The economy of the nation is supported by a wide range of natural resources, a large customer base, and ongoing economic changes that improve the business climate. Furthermore, companies have access to regional and international markets thanks to Brazil's important involvement in trade associations like Mercosur and the WTO, which promotes investment and growth prospects. Companies may operate safely and comfortably in Brazil because to the laws and regulations that the government has put in place to safeguard commerce and business. Brazil's excellent economic environment, along with continuous attempts to enhance the business climate, make it a desirable location for companies looking for expansion and growth prospects.
Brazil and Canadas Culture
Reflecting on the cultural similarities and differences between Brazil and Canada can provide valuable insights into potential implications for trade between the two countries.
Similarities: Brazil and Canada are tightly nit when it comes to motivation towards achievement and success. According to Hofstde Insights, Canada (ranked at an 52) and Brazil (ranked at a 49) both, in terms of achievement, success, and winning, aim for high performance levels in both work and play (sports) (Country-Comparison, n.d.). Additionally, their cultures, as a whole, are more reserved in this regard. Diversity: Both Brazil and Canada are culturally diverse nations with rich multicultural landscapes. Brazil has a blend of indigenous, African, European, and immigrant cultures, while Canada is known for its multiculturalism, with significant populations of immigrants from various countries (Culturegram, n.d.). Natural Resources: Both countries are endowed with abundant natural resources, including minerals, energy resources, and agricultural land (Culturegram, n.d.). Brazil is a major exporter of commodities such as soybeans, coffee, beef, and iron ore, while Canada is known for its exports of minerals, oil, natural gas, and agricultural products (Country, n.d.). Interest in Sports: Brazilians are passionate about football (soccer), which is also popular in Canada, albeit to a lesser extent compared to hockey (Culturegram, n.d.). Both countries have strong sports cultures, which can provide avenues for cultural exchange and collaboration (Culturegram, n.d.). Cultural Exchange: Despite geographical distance, there is a growing interest in cultural exchange between Brazil and Canada (Culturegram, n.d.). This includes initiatives in music, arts, literature, and film, which can foster mutual understanding and collaboration (Culturegram, n.d.).
Culture Knowledge needed
I believe that there is a moderate need for culture awareness. Although the indulgence (C: 68, B: 59) and motivation of achievement and success (C: 52, B:49) of brazil and canada are similar, yet the power distance (C: 39, B: 69), individualism (C: 72, B: 36), uncertainty avoidance (C: 48, B:76), and long term orientation (C: 54, B: 28) majorly differ (Country-Comparison, n.d.). this is due to canada's development, government, and rights/freedoms. it is important for both countries to learn the cultures and customs of one another, prior to starting business.
Implications for Trade
Complementary Economies: Brazil and Canada have complementary economies, with Brazil's strength in agriculture, mining, and energy, and Canada's expertise in agriculture, natural resources, and technology (Country, n.d.). Trade between the two countries can leverage these complementarities for mutual benefit. Cultural Understanding: Understanding cultural nuances and differences can facilitate trade relations by fostering trust, communication, and collaboration between businesses in Brazil and Canada. Cultural awareness can help navigate differences in business practices, negotiation styles, and consumer preferences. Trade Agreements: Brazil and Canada are both members of international trade agreements such as the World Trade Organization (WTO) and the Mercosur (for Brazil) and the USMCA (for Canada). Bilateral trade agreements and initiatives aimed at reducing trade barriers can further enhance economic cooperation between the two countries. Investment Opportunities: Recognizing cultural similarities and differences can also open up investment opportunities in sectors where both countries have comparative advantages. For example, Brazil's renewable energy sector may attract investment from Canada, while Brazil's growing middle class presents opportunities for Canadian consumer goods and services (Country-Comparison, n.d.). In conclusion, while Brazil and Canada have distinct cultural identities and economic landscapes, there are significant opportunities for trade and collaboration between the two countries, particularly by leveraging their complementary economies and fostering cultural understanding. Efforts to strengthen trade relations can benefit both nations economically and culturally.
Differences: The largest difference between Canada and Brazil, within the Hofstede Insight website, is individualism. Canada (ranked at a 72) results in a loosely organized society where taking care of oneself and one's close family is expected (Country-Comparison, n.d.). In the business sector, employees are expected to exhibit initiative and self-reliance. While in Brazil (ranked at a 36) everyone in this nation is raised in strong, cohesive families—which are best exemplified by extended families, including grandparents, uncles, aunts, and cousins—that continue to defend their members in return for loyalty (Country-Comparison, n.d.). This is a crucial component in the workplace as well, where it is common for an influential family member to "assist" a younger nephew in landing a job at his/her own business (Country-Comparison, n.d.). Language and Cultural Influences: Language is a significant difference between Brazil and Canada. Brazil's official language is Portuguese, whereas Canada is bilingual, with English and French as official languages (Culturegram, n.d.). This linguistic difference can influence cultural exchanges and business interactions. Climate and Geography: Brazil is known for its tropical climate and vast rainforests, while Canada has diverse climate zones, including temperate, subarctic, and Arctic regions (Culturegram, n.d.). These differences in climate and geography impact agricultural production, with Brazil specializing in tropical crops and Canada in cold-climate agriculture (Culturegram, n.d.). Historical and Political Context: Brazil and Canada have different historical trajectories and political systems (Culturegram, n.d.). Brazil has experienced periods of military dictatorship and has unique socio-economic challenges, including income inequality and poverty (Culturegram, n.d.). Canada, on the other hand, has a stable democracy and a strong social welfare system (Culturegram, n.d.).
Existing Businesses: Three Canadian
Businesses Operating in Brazil
Scotiabank
McCain Foods
Bombardier Inc.
The largest french fry company
one of Canadas largest banks
A well known Canadian aircraft company
Founded in 1957 in Florenceville, New Brunswick, Canada, McCain Foods Limited is an international frozen food company (McChain, 2019) . With 1 in 4 french fries worldwide being a McCain fry, it is the biggest producer of frozen potato goods worldwide (McChain, 2019). McCain is fortifying its strategy of market expansion in Brazil with this investment (McChain, 2019). McCain now concentrates on its primary growth category: frozen french fries, having acquired 49% of bread snack and appetizer manufacturer Forno de Minas in 2018 and 70% of Sérya, a Brazilian company that specializes in preformed potato products, in May 2019 (McChain, 2019).
Since October 2011, Scotiabank has operated exclusively in Brazil under a full banking license, thus remaining a distinctively Canadian financial institution (Banking, n.d.). With a representative office, they began offering trade finance and correspondent banking services through Scotiabank's extensive global network in the early 1970s (Banking, n.d.). By using the global reach of the bank along with the local team knowledge, Scotiabank provides Brazilian clients with a wide range of financial products and services (Banking, n.d.).
Manufacturer of motorized consumer goods, rail transit systems, and aircraft based in Canada. The corporate office is located in Montreal (Hewitt, 2012). Bombardier Inc. has historically been involved in the aerospace industry, providing aircraft such as commercial jets and business aircraft to the Brazilian market (Hewitt, 2012). They offer sales, maintenance, and support for their aviation products within the country. Additionally, they may engage in partnerships or collaborations with local businesses and government entities to enhance their operations and service offerings in Brazil's aviation sector (Hewitt, 2012).
