S E C O M B R A T I S L A V A
B S C C
F O R E I G N T R A D E • E N T E R P R E N E U R S H I P • N E W S • T O U R I S M • E V E N T S
our mission & vision
The Chamber of Commerce (BSCC) aims at being the most
influential voice of the importance of Brazilian and Slovak
Acting in partnership with the Embassy of Brazil, it
advocates trade and
investment between both countries, helping to build
bridges between the business communities.
become a member
Every natural or legal person which agrees with the
objectives of the Chamber is entitled to request
membership. For further information regarding
membership fees and requirements, please contact
- Brazilian economy picks up pace
Comex's single portal - new rules for
ascensão - quarterly information about
Internationalization - why should
Featured in this edition:
Impressive from the beginning - the
establishment of the Brazilian-Slovak
Chamber of Commerce
+421 321 81 409
Brazil, on the road to recovery
Developed by the Brazilian-Slovak
Chamber of Commerce for information
import, export and customs transit
and promotional use.
Eslováquia, uma economia em plena
Follow us on social media channels for
the Slovak economy (in Portuguese)
companies look at opportunities abroad
Brazilian-Slovak Chamber of Commerce
IMPRESSIVE FROM THE BEGINNING
On 6 October, the Brazilian-Slovak Chamber of Commerce was founded, the first of its kind to be
constituted by a Latin American country in Slovakia. The new institution was launched with the support of 16
companies and the Embassy of Brazil in Slovakia, as a member at large. Together, the "founding fathers"
account for the vast majority of the bilateral investments.
market of Brazil
market reached from
Number of Brazilian
which have exported to
The first Chamber of Latin America to open its doors in Slovakia to promote trade
and investment relations.
Besides being an exceptional focal point for all important economic, commercial
and financial developments taking place between Brazil and Slovakia, the BSCC is
fully equipped to reduce the informational asymmetry between companies and to
facilitate the communication in those sectors that are more promising to increase
The natural area of concentration of the its work should be to strengthen trade
ties, promote investments in both directions and assist companies to establish
themselves in Slovakia, creating a fine base for the governments to build upon.
Members meet to launch the
From the left to the right:
Daniel Sajtak, Eskada
Juraj Čajko, SOPK Trnava
Luis Balduino, Embassy of Brazil
Levy Campos, CRW
As a founding member of Brazilian-Slovak Chamber of Commerce and a
law firm standing at the birth of Brazilian-Slovak Chamber of Commerce
we are pleased to use the opportunity to introduce our law firm as a
potential partner of yours.
Q U I C K D E S C R I P T I O N
We are an independent law firm
with a personal approach and
strong local background.
We are a spinoff of an
international law firm which has
strong position in CEE market;
hence we are able to provide
quality of a large law firm and
flexibility of a smaller one.
Our standard service proposition
includes legal analysis,
consultations on business cases
and business models, contract
agenda, representation at courts
and public authorities, and
participation at negotiations.
Our practice encompasses a broad
spectrum of expertise. We possess
wide range of valuable knowledge
and experience in all main
commercial areas of law.
Our philosophy – Five Star
We strive for providing the best professional service possible. In
order to reach this goal we apply following principles in our
• We understand that what matters in our business is a quality of
people who work for our clients, hence we diligently work on their
education and development.
• We are able to provide comprehensive legal services because
we look at matters from the strategic and business perspective,
closely co-operating with consultants from other fields.
• We understand that attention to detail is an absolute must when
providing legal advice.
• We are completely aware of the fact that in the legal world, one
may be successful only when carefully thinks through the possible
development of the matters from the beginning to the end.
• We understand how important it is to be proactive when dealing
with clients and their matters.
F O C U S – B O U T I Q U E C O M M E R C I A L L A W F I R M
We focus on establishment and operation of companies from internal
perspective (i.e. setting up appropriate shareholding and/or governance
structures) and external perspective - we advise our clients on variety of
contracts with other business entities from both private and public sector.
We are strong partner for our clients when it comes to employment
matters as well.
In the recent past we have performed a few analyses on
employment of foreigners (also from Brazil) in the Slovak
We focus on
All lawyers within the firm have extensive experience with mergers and
acquisitions, in which we have performed due diligence, drafted or
commented on transactional documents. We are always happy when we
can use our experience in deal negotiations to help our clients.
We have provided legal advisory on various financing assignment,
representing both lenders and borrowers.
In respect of competition law, we represented our clients on notification of
concentrations, cartel cases, abuse of dominant position in front of the
Antimonopoly Office of the Slovak Republic and the European
Commission and advised our clients on protection from anti-competitive
In addition we have strong expertise on real estate matters, since we
have advised on number of construction matters, real estate transactions,
leases and other forms of real estate usage, and property management.
Our expertise in public (administrative) law covers mainly environmental
law (especially related to waste management), personal data protection,
safety and health protection at work, consumer protection, and payment
In IP law arena, we are experienced in trademark and copyright field,
especially those related to software.
We are the professionals experienced in representing clients
in front of public authorities (including e.g. Antimonopoly
Office of Slovak Republic, OHIM) and all levels courts
(including Supreme Court of the Slovak Republic and the
Constitutional Court of the Slovak Republic) in matters such
as shareholders’ disputes, labour law disputes, administrative
law actions, and disputes arising from intellectual property
BAK & PARTNERS, s.r.o.
Panská 14, 811 01 Bratislava,
Tel.: +421 220 758 391
We focus on establishment
and operation of companies
B R A Z I L , O N T H E R O A D
T O R E C O V E Y
Consumption increases, despite caution
The Brazilian economy grew by 0.2% in the second
quarter of 2017, compared to the first three months of
the year, according to data released by the Brazilian
Institute of Geography and Statistics (IBGE). In current
values, the quarter GDP reached R $ 1,639 trillion.
In the first quarter, the economy advanced 1,0%,
interrupting a two-year sequence of negative GDP.
In comparison with the same period last year, GDP grew
by 0.3%. It was the first high after 12 lows in a row.
The GDP data shows that the Brazilians have returned to
spending. Household consumption rose 1.4% in the
second quarter, after eight quarters of retraction and one
of zero variation. IBGE National Accounts Coordinator,
Rebecca de La Rocque Pali, pointed out that consumption
was benefited by "a combination of positive factors" that
offset the labor market figures. She cited the growth of
2.3% of real wages, the fall in the basic interest
rate, lower inflation and credit. "In addition, we had the
release of the inactive accounts of the FGTS. Although
most households used this money to pay off debt or for
savings, some of it was used for consumption."
The GDP is the sum of all
goods and services produced
in the country and serves to
measure the evolution of the
economy. In the second
quarter of 2017, the
recorded a growth rate
of 0.2% quarter on quarter.
"The labor market is improving.
Interest rates, the clear trend is
for the continuation of the
reduction and the maintenance
of lower inflation are favorable
conditions for the maintenance
of household consumption.
"Against the movement of
families, the government spent
less this year. Public spending fell
by 0.9% and negatively
influenced GDP. One of the
positive highlights of the second
quarter GDP was
the improvement of the services
sector, which grew 0.6% and
made the largest contribution to
the result. This sector accounts
for about 70% of GDP, and
recorded an increase in trade
(1.9%), real estate and other
services (0.8%) and
transportation, warehousing and
mail (0.6%). Information services
fell by 2.0% and administrative,
health and public education
activities (-0.3%) and financial
and insurance intermediation
(-0.2%) had negative variations.
The indicators of the first 17 months of government reflect optimism and confidence
BASIC INTEREST RATE
OCCUPIED LABOR FORCE
JOBS CREATION PNAD/IBGE
BRAZIL RISK (EMBI)
185,8 MILLION T.
USD 19,682 BILLION
USD 73,512 BILLION
USD 53,83 BILLION
USD 75 BILLION
242 MILLION T.
USD 58,477 BILLION
USD 183,481 BILLION
USD 125 BILLION
USD 78,9 BILLION
76,989 THOUSAND POINTS
S O U R C E ; " P A R E E C O M P A R E - 1 7 M E S E S D E G O V E R N O "
What has changed?
Industry, foreign trade and services
are an important vector for the
resumption of growth and development of
the country. Seeking further expediency
for foreign trade operations, the Brazilian
government has launched the Single
Foreign Trade Portal, which unifies
export, import and customs
transit.Countries such as Chile, the
United States, Mexico and several others
are already using such an approach.
The first stage was launched on 23 March
2017 and the second one, on 30 June
2017 Initially the programme will
encompass exports made by the air
When the Single Portal is fully implemented,
the expectation is to reduce bureaucracy and
increase efficiency, shortening the average
terms of operations by around 40%. On
average imports exports should take from 13
to 8 days and imports from 17 to 10 days.
Gradually, the Single Export Declaration
(DU-E) will replace the previous forms, while
the companies will be able to choose the
most convenient option until only the DU-E is
available. This way, the old documentation,
such as the Export Declaration (DE), the
Simplified Export Declaration (DSE) and the
Export Register (RE) will not be immediately
Uma economia em plena ascensão
A economia eslovaca cresceu 0,8% no segundo trimestre de
2017, registrando o terceiro período sucessivo de expansão.
Desde o início do ano, a economia registrou crescimento
tanto do lado do consumo quanto do lado da produção, com
reflexo positivo para o PIB nominal (4,1% no primeiro e
segundo trimestres). Em termos reais, a elevação do PIB foi
de 3,3% (após 3,1% no trimestre anterior).
O crescimento econômico continuou impulsionado pelo
consumo privado. Sob a ótica da produção, a atividade
econômica aumentou em serviços, particularmente na
categoria de atividades profissionais e técnicas, enquanto o
crescimento da indústria diminuiu.
A formação bruta de capital fixo, decresceu em 4,6%. Após
elevação no T1, o investimento fixo diminuiu 4,6% no T2.
Considerando ser apenas um repique, o Banco Central da
Eslováquia (NBS) aumentou o amortizador de capital
contracíclico, fixando-o em 0,5%. Em julho último, a
instituição votou para aumentar a taxa para 1,25%, com
efeito a partir de novembro de 2018.
A situação do mercado de trabalho continuou a apoiar o
crescimento do consumo doméstico. A elevação da taxa de
ocupação e o aumento acentuado do salário médio
(1,6% em relação ao trimestre anterior) tiveram ambos
reflexos positivos sobre o consumo das famílias em casa e no
exterior (+3,5% no comparativo anual). Em setembro, a taxa
de desemprego ficou em 6,42%, redução de 0,12% mês a
mês e 3% na comparação anual. O número de candidatos
que encontraram emprego imediatamente foi de 175.021,
diminuição de 3.232 indivíduos em relação ao período
A balança comercial encerrou o período com saldo
superavitário. As exportações diminuíram em 2,5% no
comparativo trimestral (após o crescimento de 1,2% no
trimestre anterior). O declínio foi explicado pelo efeito
rebote da base mais forte do trimestre anterior. Com o
decréscimo das exportações, as compras intrafirma também
se reduziram, resultando em queda tota das importações em
2,7% (depois de crescerem 1,7% no Q1).
Ambassador Luis Balduino
It is necessary to perceive the change in
the traditional vision of the phenomenon
of internationalization that was previously
seen only as the company's journey to
the international market.
Internationalization can be understood as
the many ways a company can relate to
the external market, whether it is
partnering, installing factories abroad or
otherwise doing business on a global
level. Thus, it is noted that
internationalization is more
comprehensive than export, which is still
the strategy most used by companies to
enter international markets, especially
those of smaller size.
From this broader approach, it is possible to
understand that internationalization is
associated with issues of global
competitiveness, in which companies seek
strategies in foreign markets or even actions
in the domestic market in order to prepare to
face greater competition due to the opening
of the economy.
Among the advantages offered by the
international arena are the possibility of
diluting risks, making profits, diversifying
markets, increasing the number of
consumers, improving quality, increasing
innovation, adding value, reducing the effect
of seasonality, gains in scale, learning
recognition of the brand in the internal
A "learning by doing process" helps
entrepreneurs to acquire differentials,
which increase their competitiveness in the
market, especially in the international market,
where competition and the level of demand
are even greater. As a result, the ability to
learn and continually innovate for business
growth and sustainability has to be constantly
Companies accustomed to operate in
different markets more easily replace a
reactive stance in favor of a
proactive one, being better equipped to
anticipate threats and opportunities that arise
in the horizon.
M A C R O E C O N O M I C
C O M P A S S
210TH MEETING OF THE MONETARY POLICY
On October 25, 2017, the Monetary Policy Committee (Copom) of the
Central Bank of Brazil (BC) decided to reduce the Selic rate from 8.25% to
7.50% per year. The decision was unanimous and represented the ninth
consecutive reduction of the basic interest rate of the Brazilian economy.
The set of indicators of economic activity shown signs compatible with the
gradual recovery of the Brazilian economy. The economy continued to
operate with a high level of idle capacity, but the external scenario has
been favorable, as global economic activity has been recovering without
putting too much pressure on financial conditions in the advanced
economies. This has contributed to maintaining risk appetite in relation to
The behavior of inflation remained favorable. The inflation expectations
calculated by the Focus survey fell to around 3.1% for 2017 and 4.0% for
2018. Projections for 2019 and 2020 remained around 4.25% and 4.0% ,
respectively. For the trajectory of administered prices, which compose the
conditional projections for inflation produced by the Copom, a variation of
7.9% in 2017, 5.1% in 2018 and 4.3% in 2019 was projected.
The scenario with trajectories for the interest and exchange rates
extracted from the Focus survey assumed, among other hypotheses,
exchange rates of R$ 3.16 / US$, R$ 3.30 / US$ and R$ 3.33 / US$ at the end
of 2017, 2018 and 2019, respectively, and interest rates of 7.00% at the
end of 2017 and 2018, rising to 8.00% at 2019.
Under these assumptions, Copom's inflation projections remained around
3.3% for 2017 and fell to approximately 4.3% for 2018. Projections for
2019 were around 4.2% .
Aliter Technologies is one of the fastest growing technology and IT
firms in Slovakia whose innovative work and quality has led to a
portfolio of award winning products and solutions that are daily used
by NATO and other international organizations, global technology
companies and suppliers in the fields of security and defense.
A L I T E R T E C H N O L O G I E S
Aliter Technologies is one of the fastest growing technology and IT
firms in Slovakia whose innovative work and quality has led to a
portfolio of award winning products and solutions that are daily
used by NATO and other international organizations, global
technology companies and suppliers in the fields of security and
The company offers consulting services and develops its own
technology and solutions in the field of information and
communications technology, the infrastructure and components
that enable modern computing. ICT has drastically changed how
people work, communicate, learn and live. Its importance to
economic development and business growth has been so
monumental, that it is credited with ushering in what may be
labeled as the Fourth Industrial Revolution.
Peter Dostál, the founder and CEO of Aliter Technologies has
recognized the importance of information and communications
technologies, but wondered if they could be used in a different way
and he named his company to reflect his approach (“aliter” means
differently in Latin). The firm is now known for its acknowledged
experts and sophisticated solutions tailored to the needs of its
The company operates within three production divisions that have
one crucial element in common, which is safety. The ICT Systems
Division specializes in integration of secure and highly available
ICT infrastructure including cloud based data centers,
communication systems and cyber security. The Software
Development Division develops the company’s software product
portfolio in the areas of cloud automation, service orchestration,
operations of contact centers, and provides our clients with
innovative customized solutions. The Special Systems Division
works on design, development and integration of products and
solutions intended for armed forces, rescue and law enforcement
agencies operating in tactical environment.
Aliter Technologies is a
proven contractor of the
Slovak armed forces and
police, as well as of NATO
and other prestigious
and foreign ministries. The
list of the company’s
international clients from the
private sector is very diverse.
Solutions from Slovakia are
being used by companies such
as IBM, CISCO, Airbus, the
world's largest manufacturer
of civil aircraft; BAE Systems,
Europe's leading defense,
security and aviation
company; Ericsson, the
Swedish manufacturer of
Dynamics, a leading military
supplier and aircraft
manufacturer; and so on.
a p o r t f o l i o o f
a w a r d w i n n i n g
p r o d u c t s a n d
s o l u t i o n s
The Slovak company has
subsequently expanded its
operations to foreign markets
and opened subsidiaries in
North America, the Balkans,
and the Czech Republic. Aliter
Technologies has become a
familiar brand in Toronto,
Montenegro, Podgorica, and
most recently in neighboring
Prague. Deloitte has
Technologies two years in a
row as one of the top five
most successful technology
companies in Central Europe.
IN THE NEWS
P O L I T I C A L A N D E C O N O M I C H I G H L I G H T S O F B R A Z I L A N D S L O V A K I A
THE 2019 TRADE POLICY AGENDA DEBATE BEGINS
The latest edition of the Brazilian Magazine of Foreign Trade (RBCE/FUNCEX) examines some of the issues that
will be put to the new government in the area of commercial practice. For many economists, one of the nodes
who constrain growth and Brazil is the very low degree of openness of our economy. This is certainly the point
of view defended by Mauricio Mesquita and Filipe Sousa, for whom the process of opening not only stagnated
after mid-1990s, but regressed. Otaviano Canuto and Fernanda De Negri address an issue usually faced by a
new government: which industrial sectors should be privileged with preferential policies? The authors
conclude that, much more important than changing the sectoral composition, is to increase the intrasectorial
productivity of the Brazilian economy. The edition also includes two articles that comment on Brazil's recent
request for accession to the OECD, a process that should take at least three years and should be an important
task of the new government.
NUNES AND LAJČÁK
" T h e P r e s i d e n t o f t h e 7 2 n d s e s s i o n o f t h e G e n e r a l
A s s e m b l y , H . E . M r . M i r o s l a v L a j č á k , m e t t o d a y [ 2 1
S e p t e m b e r 2 0 1 7 ] w i t h t h e M i n i s t e r o f F o r e i g n
A f f a i r s o f B r a z i l , H . E . M r . A l o y s i o N u n e s F e r r e i r a .
T h e y d i s c u s s e d m u t u a l p r i o r i t i e s w i t h r e g a r d t o
m i g r a t i o n , c l i m a t e c h a n g e , c o n f l i c t p r e v e n t i o n ,
a n d U n i t e d N a t i o n s r e f o r m , i n c l u d i n g S e c u r i t y
C o u n c i l r e f o r m . ( S o u r c e : U N )
1 6 K F O L L O W E R S
1 , 9 K F O L L O W E R S
1 , 8 K F O L L O W E R S
Title: The Brazilian fiscal and
Title: Black executives: racism and
For furhter information, contact
Created in 1958 and
annualy awarded by
Title: Public finance - Author (s):
the Brazilian Book
Felipe Salto and Mansueto Almeida
Award is the most
prize in Brazil.
monetary crisis - Author (s): Edmar
These were the
winners in the
segment of "Economy,
diversity in the entrepreneurial
world - Author (s): Pedro Jaime
R E L A X I N
B R A Z I L
I L H A
C O M P R I D A