SLOVAKIA, A CERTAIN LOOK Updates on the project developed with FCCE OVERVIEW: Over 20 Brazilian companies have shown interest in doing business with Slovakia A Seminar to Motivate On 27 November 2017, the National Confederation of Trade on Goods, Services and Tourism (CNC) opened its doors to host the seminar "Slovakia, a potential market", organized by the Federation of Chambers of Foreign Trade (FCCE), in partnership with the Embassy of Brazil in Bratislava. Almost 50 participants gathered to learn about the possibilities offered in Slovakia for foreign entrepreneurs. Government officials and private sector gathered in Rio de Janeiro, Brazil, to have a frank and open discussion about the possibilities and the challenges of doing business with Slovakia. The panels covered a wealth of topics, ranging from the macroeconomic foundations to the presentation of the experience of businessmen who have reached their goals. At the second phase, soon to be launched, the "sensitized" Brazilian companies will virtually interact with specialists on competition, logistics and others.
The Slovak market is reliable and solid Throughout the presentation, the participants could learn about the expectation that a political agreement will be reached in the negotiations on trade liberalization between Mercosur and the EU, indicative of a new dynamic of trade relations, including fo the automotive sector. They were also informed about the sound macroeconomic policies of the country, with a growth forecast of 4.2% in 2018 and a general government deficit of zero in 2019. It was also emphasized that by deciding to join the euro, Slovakia eliminated the currency risk. The panelists highlighted the considerable potential to be exploited, despite the current marginal levels of bilateral trade, highly concentrated in 10 products which represent 71% of Brazilian exports. According to internal studies, Brazilian companies present higher competitive advantages in 55 product lines. Furthermore, Brazilian investors have the possibility of combining the customer base in Brazil to find its counterparts in Slovakia. the simplified tax system, with a tax rate of 20% for VAT and 22% for withholding tax was attractive for companies interested in looking at Slovakia as a platform for internationalization. The labor force remains competitive, with plenty availability of English speaking personnel, despite the increasing costs and the shortage of skilled labor. In terms of financing, while private banks offer competitive rates, small and medium investors might expect new requirements to be eligible to public funds. In general, the seminar received a positive assessment and was the first bilateral trade event held in Brazil in recent years, with the support of the Ministry of External Relations and Apex-Brasil. Special interest from the pharmaceutical industry The pharmaceutical sector was specially selected due to the complementary of both countries. Both Brazil and Slovakia have a vibrant and diversified production of generics, offering medicine at competitive prices. Parent-teacher conferences supplement the information conveyed by report cards by focusing on students' specific strengths and weaknesses in individual subjects and generalizing the level of intercurricular skills and competences.