Brazlilian Slovak Chamber of Commerce
BSCC Newsletter. 1st edition. November/December 2017.
BSCC Newsletter. 1st edition. November/December 2017.
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S E C O M B R A T I S L A V A<br />
B S C C<br />
BRAZLILIAN<br />
SLOVAK<br />
CHAMBER OF<br />
COMMERCE<br />
November/December 2017<br />
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
JOIN US<br />
our mission & vision<br />
The <strong>Chamber</strong> <strong>of</strong> <strong>Commerce</strong> (BSCC) aims at being the most<br />
influential voice <strong>of</strong> the importance <strong>of</strong> Brazilian and <strong>Slovak</strong><br />
business.<br />
Acting in partnership with the Embassy <strong>of</strong> Brazil, it<br />
advocates trade and<br />
investment between both countries, helping to build<br />
bridges between the business communities.<br />
become a member<br />
Every natural or legal person which agrees with the<br />
objectives <strong>of</strong> the <strong>Chamber</strong> is entitled to request<br />
membership. For further information regarding<br />
membership fees and requirements, please contact<br />
secom.bratislava@itamaraty.gov.br
- Brazilian economy picks up pace<br />
Comex's single portal - new rules for<br />
ascensão - quarterly information about<br />
Internationalization - why should<br />
about<br />
the newsletter<br />
Featured in this edition:<br />
Impressive from the beginning - the<br />
establishment <strong>of</strong> the Brazilian-<strong>Slovak</strong><br />
Bratislava, <strong>Slovak</strong>ia<br />
<strong>Chamber</strong> <strong>of</strong> <strong>Commerce</strong><br />
+421 321 81 409<br />
secom.bratislava@itamaraty.gov.br<br />
Brazil, on the road to recovery<br />
Developed by the Brazilian-<strong>Slovak</strong><br />
<strong>Chamber</strong> <strong>of</strong> <strong>Commerce</strong> for information<br />
import, export and customs transit<br />
and promotional use.<br />
Eslováquia, uma economia em plena<br />
Follow us on social media channels for<br />
updates. #BSCC<br />
the <strong>Slovak</strong> economy (in Portuguese)<br />
companies look at opportunities abroad
BSCC<br />
Brazilian-<strong>Slovak</strong> <strong>Chamber</strong> <strong>of</strong> <strong>Commerce</strong><br />
IMPRESSIVE FROM THE BEGINNING<br />
On 6 October, the Brazilian-<strong>Slovak</strong> <strong>Chamber</strong> <strong>of</strong> <strong>Commerce</strong> was founded, the first <strong>of</strong> its kind to be<br />
constituted by a Latin American country in <strong>Slovak</strong>ia. The new institution was launched with the support <strong>of</strong> 16<br />
companies and the Embassy <strong>of</strong> Brazil in <strong>Slovak</strong>ia, as a member at large. Together, the "founding fathers"<br />
account for the vast majority <strong>of</strong> the bilateral investments.<br />
Overall reach<br />
200,000,000<br />
Estimated consumer<br />
market <strong>of</strong> Brazil<br />
350,00<br />
Estimated consumer<br />
market reached from<br />
<strong>Slovak</strong>ia<br />
340<br />
Number <strong>of</strong> Brazilian<br />
companies<br />
which have exported to<br />
<strong>Slovak</strong>ia<br />
President<br />
DANIEL SAJTAK<br />
CEO Eskada<br />
The first <strong>Chamber</strong> <strong>of</strong> Latin America to open its doors in <strong>Slovak</strong>ia to promote trade<br />
and investment relations.<br />
Besides being an exceptional focal point for all important economic, commercial<br />
and financial developments taking place between Brazil and <strong>Slovak</strong>ia, the BSCC is<br />
fully equipped to reduce the informational asymmetry between companies and to<br />
facilitate the communication in those sectors that are more promising to increase<br />
bilateral trade.<br />
The natural area <strong>of</strong> concentration <strong>of</strong> the its work should be to strengthen trade<br />
ties, promote investments in both directions and assist companies to establish<br />
themselves in <strong>Slovak</strong>ia, creating a fine base for the governments to build upon.
Members meet to launch the<br />
<strong>Chamber</strong><br />
From the left to the right:<br />
Daniel Sajtak, Eskada<br />
Juraj Čajko, SOPK Trnava<br />
Luis Balduino, Embassy <strong>of</strong> Brazil<br />
Levy Campos, CRW
As a founding member <strong>of</strong> Brazilian-<strong>Slovak</strong> <strong>Chamber</strong> <strong>of</strong> <strong>Commerce</strong> and a<br />
law firm standing at the birth <strong>of</strong> Brazilian-<strong>Slovak</strong> <strong>Chamber</strong> <strong>of</strong> <strong>Commerce</strong><br />
we are pleased to use the opportunity to introduce our law firm as a<br />
potential partner <strong>of</strong> yours.<br />
Q U I C K D E S C R I P T I O N<br />
We are an independent law firm<br />
with a personal approach and<br />
strong local background.<br />
We are a spin<strong>of</strong>f <strong>of</strong> an<br />
international law firm which has<br />
strong position in CEE market;<br />
hence we are able to provide<br />
quality <strong>of</strong> a large law firm and<br />
flexibility <strong>of</strong> a smaller one.<br />
Our standard service proposition<br />
includes legal analysis,<br />
consultations on business cases<br />
and business models, contract<br />
agenda, representation at courts<br />
and public authorities, and<br />
participation at negotiations.<br />
Our practice encompasses a broad<br />
spectrum <strong>of</strong> expertise. We possess<br />
wide range <strong>of</strong> valuable knowledge<br />
and experience in all main<br />
commercial areas <strong>of</strong> law.<br />
Our philosophy – Five Star<br />
Service<br />
We strive for providing the best pr<strong>of</strong>essional service possible. In<br />
order to reach this goal we apply following principles in our<br />
practice:<br />
• We understand that what matters in our business is a quality <strong>of</strong><br />
people who work for our clients, hence we diligently work on their<br />
education and development.<br />
• We are able to provide comprehensive legal services because<br />
we look at matters from the strategic and business perspective,<br />
closely co-operating with consultants from other fields.<br />
• We understand that attention to detail is an absolute must when<br />
providing legal advice.<br />
• We are completely aware <strong>of</strong> the fact that in the legal world, one<br />
may be successful only when carefully thinks through the possible<br />
development <strong>of</strong> the matters from the beginning to the end.<br />
• We understand how important it is to be proactive when dealing<br />
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<br />
We focus on establishment and operation <strong>of</strong> companies from internal<br />
perspective (i.e. setting up appropriate shareholding and/or governance<br />
structures) and external perspective - we advise our clients on variety <strong>of</strong><br />
contracts with other business entities from both private and public sector.<br />
We are strong partner for our clients when it comes to employment<br />
matters as well.<br />
In the recent past we have performed a few analyses on<br />
employment <strong>of</strong> foreigners (also from Brazil) in the <strong>Slovak</strong><br />
Republic.<br />
We focus on<br />
establishment<br />
and operation<br />
<strong>of</strong> companies<br />
All lawyers within the firm have extensive experience with mergers and<br />
acquisitions, in which we have performed due diligence, drafted or<br />
commented on transactional documents. We are always happy when we<br />
can use our experience in deal negotiations to help our clients.<br />
We have provided legal advisory on various financing assignment,<br />
representing both lenders and borrowers.<br />
In respect <strong>of</strong> competition law, we represented our clients on notification <strong>of</strong><br />
concentrations, cartel cases, abuse <strong>of</strong> dominant position in front <strong>of</strong> the<br />
Antimonopoly Office <strong>of</strong> the <strong>Slovak</strong> Republic and the European<br />
Commission and advised our clients on protection from anti-competitive<br />
practices<br />
In addition we have strong expertise on real estate matters, since we<br />
have advised on number <strong>of</strong> construction matters, real estate transactions,<br />
leases and other forms <strong>of</strong> real estate usage, and property management.<br />
Our expertise in public (administrative) law covers mainly environmental<br />
law (especially related to waste management), personal data protection,<br />
safety and health protection at work, consumer protection, and payment<br />
services.<br />
In IP law arena, we are experienced in trademark and copyright field,<br />
especially those related to s<strong>of</strong>tware.<br />
We are the pr<strong>of</strong>essionals experienced in representing clients<br />
in front <strong>of</strong> public authorities (including e.g. Antimonopoly<br />
Office <strong>of</strong> <strong>Slovak</strong> Republic, OHIM) and all levels courts<br />
(including Supreme Court <strong>of</strong> the <strong>Slovak</strong> Republic and the<br />
Constitutional Court <strong>of</strong> the <strong>Slovak</strong> Republic) in matters such<br />
as shareholders’ disputes, labour law disputes, administrative<br />
law actions, and disputes arising from intellectual property<br />
rights.<br />
Contact details<br />
BAK & PARTNERS, s.r.o.<br />
Panská 14, 811 01 Bratislava,<br />
<strong>Slovak</strong> Republic<br />
Tel.: +421 220 758 391<br />
E-mail: <strong>of</strong>fice@bakpartners.sk<br />
www.bakpartners.sk<br />
We focus on establishment<br />
and operation <strong>of</strong> companies
B R A Z I L , O N T H E R O A D<br />
T O R E C O V E Y<br />
Consumption increases, despite caution<br />
The Brazilian economy grew by 0.2% in the second<br />
quarter <strong>of</strong> 2017, compared to the first three months <strong>of</strong><br />
the year, according to data released by the Brazilian<br />
Institute <strong>of</strong> Geography and Statistics (IBGE). In current<br />
values, the quarter GDP reached R $ 1,639 trillion.<br />
In the first quarter, the economy advanced 1,0%,<br />
interrupting a two-year sequence <strong>of</strong> negative GDP.<br />
In comparison with the same period last year, GDP grew<br />
by 0.3%. It was the first high after 12 lows in a row.<br />
The GDP data shows that the Brazilians have returned to<br />
spending. Household consumption rose 1.4% in the<br />
second quarter, after eight quarters <strong>of</strong> retraction and one<br />
<strong>of</strong> zero variation. IBGE National Accounts Coordinator,<br />
Rebecca de La Rocque Pali, pointed out that consumption<br />
was benefited by "a combination <strong>of</strong> positive factors" that<br />
<strong>of</strong>fset the labor market figures. She cited the growth <strong>of</strong><br />
2.3% <strong>of</strong> real wages, the fall in the basic interest<br />
rate, lower inflation and credit. "In addition, we had the<br />
release <strong>of</strong> the inactive accounts <strong>of</strong> the FGTS. Although<br />
most households used this money to pay <strong>of</strong>f debt or for<br />
savings, some <strong>of</strong> it was used for consumption."<br />
GDP<br />
(QoQ%)<br />
0,2%<br />
The GDP is the sum <strong>of</strong> all<br />
goods and services produced<br />
in the country and serves to<br />
measure the evolution <strong>of</strong> the<br />
economy. In the second<br />
quarter <strong>of</strong> 2017, the<br />
Brazilian economy<br />
recorded a growth rate<br />
<strong>of</strong> 0.2% quarter on quarter.<br />
"The labor market is improving.<br />
Interest rates, the clear trend is<br />
for the continuation <strong>of</strong> the<br />
reduction and the maintenance<br />
<strong>of</strong> lower inflation are favorable<br />
conditions for the maintenance<br />
<strong>of</strong> household consumption.<br />
"Against the movement <strong>of</strong><br />
families, the government spent<br />
less this year. Public spending fell<br />
by 0.9% and negatively<br />
influenced GDP. One <strong>of</strong> the<br />
positive highlights <strong>of</strong> the second<br />
quarter GDP was<br />
the improvement <strong>of</strong> the services<br />
sector, which grew 0.6% and<br />
made the largest contribution to<br />
the result. This sector accounts<br />
for about 70% <strong>of</strong> GDP, and<br />
recorded an increase in trade<br />
(1.9%), real estate and other<br />
services (0.8%) and<br />
transportation, warehousing and<br />
mail (0.6%). Information services<br />
fell by 2.0% and administrative,<br />
health and public education<br />
activities (-0.3%) and financial<br />
and insurance intermediation<br />
(-0.2%) had negative variations.
BRAZIL IS<br />
BACK<br />
ON TRACK<br />
The indicators <strong>of</strong> the first 17 months <strong>of</strong> government reflect optimism and confidence<br />
INFLATION<br />
BASIC INTEREST RATE<br />
INDUSTRIAL PRODUCTION<br />
CAR SALES<br />
GRAIN CROPS<br />
TRADE BALANCE<br />
EXPORTS<br />
IMPORTS<br />
JOBS CREATION<br />
OCCUPIED LABOR FORCE<br />
JOBS CREATION PNAD/IBGE<br />
IED<br />
IBOVESPA<br />
GDP<br />
BRAZIL RISK (EMBI)<br />
JULY 2016<br />
9,28%<br />
14,25%<br />
-9,8%<br />
-24,3%<br />
185,8 MILLION T.<br />
USD 19,682 BILLION<br />
USD 73,512 BILLION<br />
USD 53,83 BILLION<br />
-448,101 THOUSAND<br />
89,9 MILLION<br />
-437 THOUSAND<br />
USD 75 BILLION<br />
53,241 THOUSAND<br />
-5,4%<br />
544 BP<br />
NOVEMBER 2017<br />
2,54%<br />
7,5%<br />
+1,6%<br />
+27%<br />
242 MILLION T.<br />
USD 58,477 BILLION<br />
USD 183,481 BILLION<br />
USD 125 BILLION<br />
+163,417 THOUSAND<br />
91,3 MILLION<br />
+1,1 MILLION<br />
USD 78,9 BILLION<br />
76,989 THOUSAND POINTS<br />
+0,3%<br />
239 BP<br />
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 "
Comex's<br />
Single Portal<br />
What has changed?<br />
Industry, foreign trade and services<br />
are an important vector for the<br />
resumption <strong>of</strong> growth and development <strong>of</strong><br />
the country. Seeking further expediency<br />
for foreign trade operations, the Brazilian<br />
government has launched the Single<br />
Foreign Trade Portal, which unifies<br />
export, import and customs<br />
transit.Countries such as Chile, the<br />
United States, Mexico and several others<br />
are already using such an approach.<br />
The first stage was launched on 23 March<br />
2017 and the second one, on 30 June<br />
2017 Initially the programme will<br />
encompass exports made by the air<br />
modal.<br />
When the Single Portal is fully implemented,<br />
the expectation is to reduce bureaucracy and<br />
increase efficiency, shortening the average<br />
terms <strong>of</strong> operations by around 40%. On<br />
average imports exports should take from 13<br />
to 8 days and imports from 17 to 10 days.<br />
Gradually, the Single Export Declaration<br />
(DU-E) will replace the previous forms, while<br />
the companies will be able to choose the<br />
most convenient option until only the DU-E is<br />
available. This way, the old documentation,<br />
such as the Export Declaration (DE), the<br />
Simplified Export Declaration (DSE) and the<br />
Export Register (RE) will not be immediately<br />
extinguished.
Eslováquia<br />
Uma economia em plena ascensão<br />
A economia eslovaca cresceu 0,8% no segundo trimestre de<br />
2017, registrando o terceiro período sucessivo de expansão.<br />
Desde o início do ano, a economia registrou crescimento<br />
tanto do lado do consumo quanto do lado da produção, com<br />
reflexo positivo para o PIB nominal (4,1% no primeiro e<br />
segundo trimestres). Em termos reais, a elevação do PIB foi<br />
de 3,3% (após 3,1% no trimestre anterior).<br />
O crescimento econômico continuou impulsionado pelo<br />
consumo privado. Sob a ótica da produção, a atividade<br />
econômica aumentou em serviços, particularmente na<br />
categoria de atividades pr<strong>of</strong>issionais e técnicas, enquanto o<br />
crescimento da indústria diminuiu.<br />
A formação bruta de capital fixo, decresceu em 4,6%. Após<br />
elevação no T1, o investimento fixo diminuiu 4,6% no T2.<br />
Considerando ser apenas um repique, o Banco Central da<br />
Eslováquia (NBS) aumentou o amortizador de capital<br />
contracíclico, fixando-o em 0,5%. Em julho último, a<br />
instituição votou para aumentar a taxa para 1,25%, com<br />
efeito a partir de novembro de 2018.<br />
A situação do mercado de trabalho continuou a apoiar o<br />
crescimento do consumo doméstico. A elevação da taxa de<br />
ocupação e o aumento acentuado do salário médio<br />
(1,6% em relação ao trimestre anterior) tiveram ambos<br />
reflexos positivos sobre o consumo das famílias em casa e no<br />
exterior (+3,5% no comparativo anual). Em setembro, a taxa<br />
de desemprego ficou em 6,42%, redução de 0,12% mês a<br />
mês e 3% na comparação anual. O número de candidatos<br />
que encontraram emprego imediatamente foi de 175.021,<br />
diminuição de 3.232 indivíduos em relação ao período<br />
anterior.<br />
A balança comercial encerrou o período com saldo<br />
superavitário. As exportações diminuíram em 2,5% no<br />
comparativo trimestral (após o crescimento de 1,2% no<br />
trimestre anterior). O declínio foi explicado pelo efeito<br />
rebote da base mais forte do trimestre anterior. Com o<br />
decréscimo das exportações, as compras intrafirma também<br />
se reduziram, resultando em queda tota das importações em<br />
2,7% (depois de crescerem 1,7% no Q1).
Internationalization<br />
Ambassador Luis Balduino<br />
It is necessary to perceive the change in<br />
the traditional vision <strong>of</strong> the phenomenon<br />
<strong>of</strong> internationalization that was previously<br />
seen only as the company's journey to<br />
the international market.<br />
Internationalization can be understood as<br />
the many ways a company can relate to<br />
the external market, whether it is<br />
partnering, installing factories abroad or<br />
otherwise doing business on a global<br />
level. Thus, it is noted that<br />
internationalization is more<br />
comprehensive than export, which is still<br />
the strategy most used by companies to<br />
enter international markets, especially<br />
those <strong>of</strong> smaller size.<br />
From this broader approach, it is possible to<br />
understand that internationalization is<br />
associated with issues <strong>of</strong> global<br />
competitiveness, in which companies seek<br />
strategies in foreign markets or even actions<br />
in the domestic market in order to prepare to<br />
face greater competition due to the opening<br />
<strong>of</strong> the economy.<br />
Among the advantages <strong>of</strong>fered by the<br />
international arena are the possibility <strong>of</strong><br />
diluting risks, making pr<strong>of</strong>its, diversifying<br />
markets, increasing the number <strong>of</strong><br />
consumers, improving quality, increasing<br />
innovation, adding value, reducing the effect<br />
<strong>of</strong> seasonality, gains in scale, learning<br />
recognition <strong>of</strong> the brand in the internal<br />
market.<br />
A "learning by doing process" helps<br />
entrepreneurs to acquire differentials,<br />
which increase their competitiveness in the<br />
market, especially in the international market,<br />
where competition and the level <strong>of</strong> demand<br />
are even greater. As a result, the ability to<br />
learn and continually innovate for business<br />
growth and sustainability has to be constantly<br />
sharpened.<br />
Companies accustomed to operate in<br />
different markets more easily replace a<br />
reactive stance in favor <strong>of</strong> a<br />
proactive one, being better equipped to<br />
anticipate threats and opportunities that arise<br />
in the horizon.
M A C R O E C O N O M I C<br />
C O M P A S S<br />
210TH MEETING OF THE MONETARY POLICY<br />
COMMITTEE (COPOM)<br />
On October 25, 2017, the Monetary Policy Committee (Copom) <strong>of</strong> the<br />
Central Bank <strong>of</strong> Brazil (BC) decided to reduce the Selic rate from 8.25% to<br />
7.50% per year. The decision was unanimous and represented the ninth<br />
consecutive reduction <strong>of</strong> the basic interest rate <strong>of</strong> the Brazilian economy.<br />
The set <strong>of</strong> indicators <strong>of</strong> economic activity shown signs compatible with the<br />
gradual recovery <strong>of</strong> the Brazilian economy. The economy continued to<br />
operate with a high level <strong>of</strong> idle capacity, but the external scenario has<br />
been favorable, as global economic activity has been recovering without<br />
putting too much pressure on financial conditions in the advanced<br />
economies. This has contributed to maintaining risk appetite in relation to<br />
emerging economies.<br />
The behavior <strong>of</strong> inflation remained favorable. The inflation expectations<br />
calculated by the Focus survey fell to around 3.1% for 2017 and 4.0% for<br />
2018. Projections for 2019 and 2020 remained around 4.25% and 4.0% ,<br />
respectively. For the trajectory <strong>of</strong> administered prices, which compose the<br />
conditional projections for inflation produced by the Copom, a variation <strong>of</strong><br />
7.9% in 2017, 5.1% in 2018 and 4.3% in 2019 was projected.<br />
The scenario with trajectories for the interest and exchange rates<br />
extracted from the Focus survey assumed, among other hypotheses,<br />
exchange rates <strong>of</strong> R$ 3.16 / US$, R$ 3.30 / US$ and R$ 3.33 / US$ at the end<br />
<strong>of</strong> 2017, 2018 and 2019, respectively, and interest rates <strong>of</strong> 7.00% at the<br />
end <strong>of</strong> 2017 and 2018, rising to 8.00% at 2019.<br />
Under these assumptions, Copom's inflation projections remained around<br />
3.3% for 2017 and fell to approximately 4.3% for 2018. Projections for<br />
2019 were around 4.2% .
Aliter Technologies is one <strong>of</strong> the fastest growing technology and IT<br />
firms in <strong>Slovak</strong>ia whose innovative work and quality has led to a<br />
portfolio <strong>of</strong> award winning products and solutions that are daily used<br />
by NATO and other international organizations, global technology<br />
companies and suppliers in the fields <strong>of</strong> security and defense.
A L I T E R T E C H N O L O G I E S<br />
Aliter Technologies is one <strong>of</strong> the fastest growing technology and IT<br />
firms in <strong>Slovak</strong>ia whose innovative work and quality has led to a<br />
portfolio <strong>of</strong> award winning products and solutions that are daily<br />
used by NATO and other international organizations, global<br />
technology companies and suppliers in the fields <strong>of</strong> security and<br />
defense.<br />
The company <strong>of</strong>fers consulting services and develops its own<br />
technology and solutions in the field <strong>of</strong> information and<br />
communications technology, the infrastructure and components<br />
that enable modern computing. ICT has drastically changed how<br />
people work, communicate, learn and live. Its importance to<br />
economic development and business growth has been so<br />
monumental, that it is credited with ushering in what may be<br />
labeled as the Fourth Industrial Revolution.<br />
Peter Dostál, the founder and CEO <strong>of</strong> Aliter Technologies has<br />
recognized the importance <strong>of</strong> information and communications<br />
technologies, but wondered if they could be used in a different way<br />
and he named his company to reflect his approach (“aliter” means<br />
differently in Latin). The firm is now known for its acknowledged<br />
experts and sophisticated solutions tailored to the needs <strong>of</strong> its<br />
clients.<br />
The company operates within three production divisions that have<br />
one crucial element in common, which is safety. The ICT Systems<br />
Division specializes in integration <strong>of</strong> secure and highly available<br />
ICT infrastructure including cloud based data centers,<br />
communication systems and cyber security. The S<strong>of</strong>tware<br />
Development Division develops the company’s s<strong>of</strong>tware product<br />
portfolio in the areas <strong>of</strong> cloud automation, service orchestration,<br />
operations <strong>of</strong> contact centers, and provides our clients with<br />
innovative customized solutions. The Special Systems Division<br />
works on design, development and integration <strong>of</strong> products and<br />
solutions intended for armed forces, rescue and law enforcement<br />
agencies operating in tactical environment.<br />
Aliter Technologies is a<br />
proven contractor <strong>of</strong> the<br />
<strong>Slovak</strong> armed forces and<br />
police, as well as <strong>of</strong> NATO<br />
and other prestigious<br />
international organizations<br />
and foreign ministries. The<br />
list <strong>of</strong> the company’s<br />
international clients from the<br />
private sector is very diverse.<br />
Solutions from <strong>Slovak</strong>ia are<br />
being used by companies such<br />
as IBM, CISCO, Airbus, the<br />
world's largest manufacturer<br />
<strong>of</strong> civil aircraft; BAE Systems,<br />
Europe's leading defense,<br />
security and aviation<br />
company; Ericsson, the<br />
Swedish manufacturer <strong>of</strong><br />
telecommunication<br />
technologies; General<br />
Dynamics, a leading military<br />
supplier and aircraft<br />
manufacturer; and so on.<br />
a p o r t f o l i o o f<br />
a w a r d w i n n i n g<br />
p r o d u c t s a n d<br />
s o l u t i o n s<br />
The <strong>Slovak</strong> company has<br />
subsequently expanded its<br />
operations to foreign markets<br />
and opened subsidiaries in<br />
North America, the Balkans,<br />
and the Czech Republic. Aliter<br />
Technologies has become a<br />
familiar brand in Toronto,<br />
Montenegro, Podgorica, and<br />
most recently in neighboring<br />
Prague. Deloitte has<br />
recognized Aliter<br />
Technologies two years in a<br />
row as one <strong>of</strong> the top five<br />
most successful technology<br />
companies in Central Europe.
IN THE NEWS<br />
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<br />
THE 2019 TRADE POLICY AGENDA DEBATE BEGINS<br />
The latest edition <strong>of</strong> the Brazilian Magazine <strong>of</strong> Foreign Trade (RBCE/FUNCEX) examines some <strong>of</strong> the issues that<br />
will be put to the new government in the area <strong>of</strong> commercial practice. For many economists, one <strong>of</strong> the nodes<br />
who constrain growth and Brazil is the very low degree <strong>of</strong> openness <strong>of</strong> our economy. This is certainly the point<br />
<strong>of</strong> view defended by Mauricio Mesquita and Filipe Sousa, for whom the process <strong>of</strong> opening not only stagnated<br />
after mid-1990s, but regressed. Otaviano Canuto and Fernanda De Negri address an issue usually faced by a<br />
new government: which industrial sectors should be privileged with preferential policies? The authors<br />
conclude that, much more important than changing the sectoral composition, is to increase the intrasectorial<br />
productivity <strong>of</strong> the Brazilian economy. The edition also includes two articles that comment on Brazil's recent<br />
request for accession to the OECD, a process that should take at least three years and should be an important<br />
task <strong>of</strong> the new government.<br />
NUNES AND LAJČÁK<br />
" 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<br />
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<br />
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<br />
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 .<br />
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<br />
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 ,<br />
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<br />
C o u n c i l r e f o r m . ( S o u r c e : U N )<br />
1 6 K F O L L O W E R S<br />
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BOOK AWARDS<br />
Created in 1958 and<br />
annualy awarded by<br />
Title: Public finance - Author (s):<br />
the Brazilian Book<br />
Felipe Salto and Mansueto Almeida<br />
Award is the most<br />
traditional and<br />
prestigious literary<br />
prize in Brazil.<br />
monetary crisis - Author (s): Edmar<br />
Bacha<br />
These were the<br />
winners in the<br />
segment <strong>of</strong> "Economy,<br />
Administration,<br />
diversity in the entrepreneurial<br />
Business, Tourism,<br />
world - Author (s): Pedro Jaime<br />
Hospitality and<br />
Leisure"
R E L A X I N<br />
B R A Z I L<br />
I L H A<br />
C O M P R I D A