This article highlights some of the most promising opportunities for 2026 focusing on places with strong demand, improving infrastructure, predictable regulation, and openness to international products. Let’s get started.  

What makes a market worth entering today

Before looking at specific markets, it helps to understand exactly what it is exporters are looking for in their portfolio in a period marked by increasing uncertainty in global markets: 

Ease of doing business: Efficient customs, digital documentation, predictable rules, and supportive logistics networks can significantly reduce market entry costs. 

Openness to trade and FTAs: Countries that are part of major trade agreements often provide tariff reductions and smoother administrative processes. 

Growing import demand: Strong demographics, industrial expansion, and rising levels of consumption throughout a nation all shape import patterns. 

Low or manageable political risk: Stability helps exporters plan with confidence. For most exporters, political risk is synonymous with economic risk.  

Untapped potential: Tools such as the ITC Export Potential Map offer insights into where meaningful opportunities still exist globally. Analyses such as these are crucial in mapping out new areas for your business. 

With these criteria in mind, let’s take a look in detail at some of the markets that stand out in 2026 

Top 7 export markets to consider in 2026

1. Vietnam: A fast-growing manufacturing and consumer hub

Vietnam is one of Asia’s most dynamic economies. It continues to expand rapidly in electronics, garments, furniture, and other manufacturing sectors, which also boosts demand for imported materials, components, and technologies. 

In fact, FTSE Russell recently upgraded this country to Secondary Emerging market status, which signals increasing maturity and openness.

The OECD argues that reducing FDI restrictions, improving infrastructure, and strengthening innovation capacity are key to making Vietnam more competitive and business‑friendly.

Exporters supplying machinery, industrial inputs, food products, and consumer goods often find Vietnam to be an approachable place to start or expand their market presence.  

2. India: A rising import destination with global reach

India continues to be one of the strongest performers in global trade growth. UNCTAD’s trade trends report points to India as a high-growth market with the country also steadily increasing its imports and playing a more prominent role on the import side.

Recent trade data from NITI Aayog shows India importing more from regions such as Latin America and East Africa. This reflects the country’s growing role in global supply chains and its importance under China +1 sourcing strategies.  

Exporters of machinery, chemicals, electronics, packaging materials, and renewable energy components often gain early traction in India. 

3. Indonesia: Strong commodity exports and expanding industrial needs

Indonesia remains a key growth engine in Southeast Asia. 

According to Cybex Exim’s regional data, Indonesian exports grew 12.7% year over year, driven by palm oil, minerals, rubber, and other commodities.

As these industries expand, so does the need for imported machinery, equipment, and supporting services. 

The ITC Export Potential Map also shows opportunities across a range of goods as Indonesia continues investing in infrastructure, digital systems, and industrial diversification. 

4. United Arab Emirates and the Gulf Region: A global re-export gateway

The UAE continues to stand out as an efficient global logistics hub. Visual Capitalist’s trade analysis identifies it as one of the fastest-growing trade partners between 2019 and 2024. The wider Gulf region also shows rising import demand across food, construction materials, industrial inputs, and green technologies. 

The network of free zones, predictable regulation, and strong connectivity make it a natural entry point for exporters looking to reach Africa, South Asia, and the Middle East. Moreover, its strategic location and robust logistics network have made the UAE a central hub for the import of minerals and fuels. 

In 2026, trade continues with the UAE, but with higher costs, delays, and volatility due to the US – Iran conflict.

5. Latin America: Brazil and Mexico as high-potential Buyers

Latin America remains a strong region for companies seeking to diversify beyond traditional partners. UNCTAD’s data on global trade growth shows Mexico and Brazil performing particularly well, surpassed only by India and China.  

Brazil continues to import high volumes of machinery, chemicals, renewable energy inputs, and consumer goods as large infrastructure and energy projects move forward. Mexico benefits from its integration through USMCA and is a major importer of electronics, automotive components, and industrial supplies. 

6. Sub-Saharan Africa with a focus on East Africa: Rapidly growing consumption and infrastructure Needs

East African markets such as Kenya, Tanzania, and Ethiopia are becoming important markets for exporters to consider. East Africa’s trade outlook for 2026–2027 is cautiously optimistic, supported by stronger regional growth, infrastructure investment, and ongoing economic reforms, but the region remains vulnerable to rising energy costs, global trade disruptions, and food insecurity.

The IMF notes that higher fuel, fertilizer, and shipping prices are increasing pressure on trade balances, particularly for oil-importing economies in East Africa.

The region’s main exports are largely agricultural and primary commodities including coffee, tea, horticultural products, minerals, and textiles, while its main imports are fuel, machinery, vehicles, pharmaceuticals, and industrial equipment needed for infrastructure and manufacturing growth. 

7. South Korea: A stable, high value import market 

South Korea is an advanced and predictable market with strong import needs across machinery, electronics, automotive parts, food products, and medical goods. Its close integration with both Western and Asian supply chains makes it a reliable destination for exporters who prefer stable, mature markets. 

 South Korea’s trade outlook for 2026–2027 is moderately positive, driven by strong semiconductor exports tied to global AI and technology demand, alongside a gradual recovery in domestic consumption. However, the country remains vulnerable to slowing global growth, rising trade protectionism, and geopolitical uncertainty.

Semiconductors are Korea’s leading export, while its main imports include crude oil, natural gas, and industrial inputs used in manufacturing and technology production. 

Renewable energy opportunity zones: Brazil and Chile

The renewable energy sector deserves its own mention. Countries such as Brazil and Chile are investing heavily in solar, wind, and battery storage capacity. This creates demand for turbines, panels, inverters, energy management systems, and engineering services. 

The International Energy Agency (IEA) mention continued growth in clean energy infrastructure across LatAm, which can be a strategic diversification route for exporters in green tech, metals, electronics, and industrial solutions. 

How exporters can move from insight to action

Use data tools to validate market fit: Resources like the ITC Export Potential Map, World Bank logistics indicators, and regional trade databases help exporters ground their decisions in evidence and statistics.  

Take advantage of FTAs and tariff benefits: Trade agreements can support pricing strategy and make market entry more competitive. 

Start with a phased entry strategy: Many exporters begin with a distributor, agent, or pilot shipment, then adapt based on feedback and local standards. 

Plan for compliance and risk management early: Preparing for certifications, currency considerations, and political risk improves the odds of a smooth entry. 

Leverage trade missions and government support: Trade missions, export advising programs, and local chambers of commerce can reduce costs and help companies identify partners more quickly. 

What this means for your diversification strategy

In 2026 diversifying your export markets is as much about protecting your business as it is about growth. Vietnam, India, and Indonesia are booming with rising demand; South Korea deliver predictability and logistical efficiency; and Latin America and East Africa are fast becoming regions to watch, with growing consumer markets and long-term potential.

For exporters looking to spread risk and seize global opportunities, these markets are where the next decade of trade is being written. 

The post Top export markets to strengthen your diversification strategy in 2026 appeared first on Trade Ready.

I know it can be daunting: a region of 600 million people and over 20 countries, stretched across three continents and two hemispheres. But believe me, even if Latin America can be challenging, small businesses can crack it too. Let me tell you why.

First of all, small businesses have a lot of what it takes to succeed in Latin America: passion, tenacity and drive, to start with.

You’ll need plenty of that since the pace of doing business here can be very slow and there are lots of obstacles (bureaucracy and regulations, to name just two). That passion is also valued by Latin Americans, we’re passionate people, after all! That drive, that not giving up, will be appreciated, trust me.

Small businesses also have the flexibility that their larger competitors often lack. Adapting, being flexible (and showing it), is absolutely key in Latin America.

You might be able to adjust a product, your packaging, your pricing, in a way that others can’t. You can be responsive, and fairly quickly, and that can win you orders over here. We like that. Because our countries so often lack stability, it is in our DNA to be flexible, versatile, to adapt. We expect the same from those we buy from, and don’t always find it. If you can offer it, we’ll be impressed.

Remember that most of Latin American businesses (even up to 80-90% depending on the country) are actually small businesses like yours. Think about that.

The distributor you sell to, sometimes even your buyer, will be a small, often family-run businesses. They know how it feels. Don’t try to “big it up”, show them that you are a small company, tell them about your successes and show them how your set up will actually benefit them.

So, to sum up, use the size of your business as a USP and show how that translates into benefits for the people you are dealing with: flexibility, resilience, passion, responsiveness, adaptability.

Here are four actionable tips small businesses doing business with Latin America:

1. Rank your export options

It is important to look at your business and evaluate what you value most in an export market. It probably won’t be scale. It might be proximity or ease of doing business.

You might want to go for a market that is fairly easy in terms of regulations or import procedures, or one that doesn’t require much in terms of labelling or product design. Once you have established your priorities, look for that market in the region, it helps avoid distractions.

2. Zero in on one market to start

Latin America is huge. It takes 12 hours to fly from Mexico City to Buenos Aires. We have mountains, deserts, forests. You can’t do it all at once. Have a look at the region, rank some markets, and focus on one, even a segment of one (not Chile, just Santiago, for example, or not “food”, just “wholefood shops”, for example).

3. Prepare well to put your best foot forward

Make sure all your marketing materials, pricing, Incoterms, MOQs, payment terms, etc., are nice and clear before you send that first email or make that first call.

If you have at least something translated into Spanish (Portuguese for Brazil), that is ideal (even if just a one side of an A4 to start with).

Don’t rely on emails, by the way, many Latin Americans just ignore them (call or WhatsApp if you can).

4. Show how you are different

We get approached daily from companies from all over the world trying to sell us something. If you think you are different, show it. Do you have a product that is really amazing (and have you checked out we don’t have something rather similar, or cheaper, here already)? Have you got a story to tell that will make us fall in love with your company? Don’t try to sound all corporate, you are a small business, use that charm!

Top tip: video marketing can be powerful, we are very visual people and we use YouTube a lot!

If your Spanish/Portuguese is not great, well, don’t worry, do your best and try to win us over –  maybe with a fantastic ice-breaker about your part of the world. Latin Americans, particularly those in international trade, tend to have very good general knowledge, are well-travelled, and very curious about other countries and cultures.

There are plenty of opportunities for small businesses in Latin America, particularly in hygiene control, fintech, agricultural supplies, agricultural machinery, ecommerce, logistics, and workspace design industries, to name a few. You can successfully export to Latin America if your expectations are clear, you are well prepared, and you focus. Enjoy it!

The post 4 ways your small business can crack Latin America appeared first on Trade Ready.

Costa Rica is primarily known as a popular tourist destination, due to its biodiversity, active volcanoes, beautiful beaches and stunning rainforest.  But did you know that its capital city, San José, is also the outsourcing capital of Latin America?

Costa Rica is the number one exporter of high tech industrial products in Latin America and fourth in the world. It is also the safest country in Latin America.

Costa Rica may be small in size and population (almost 5 million), with much bigger neighbouring countries like Mexico and Colombia, but it should not be overlooked as business destination.

Here’s why:

Costa Rica is one of the most economically, socially and politically stable countries in Latin America. It has been a democratic nation for over 120 years and is the second most stable democracy in Latin America. Its biggest money generating industries are tourism, food, agriculture, services and industrial production (‘we export diversity’, the Costa Ricans say).

Costa Rica has an open economy and free trade agreements with many countries and regions including the EU, Canada, the U.S., China and most of Latin America. Together with Panama, Costa Rica is in the process of becoming a member of the Pacific Alliance, a trade bloc with Chile, Peru, Colombia and Mexico, focusing on the Asia-Pacific region. The country is also working actively towards obtaining a membership in the Organisation for Economic Co-operation and Development (OECD). Costa Rica’s GDP is projected to grow 4.5% by the end of 2017.

Booming healthcare industry now outranks the U.S.

Many countries in Latin America still need to diversify their economies, but Costa Rica started doing that many years ago. As a result, it is now the biggest high tech exporter in Latin America, specializing in medical products. This is a notable achievement for such a small country. Costa Rica’s healthcare sector is particularly interesting; almost all public purchases fall under the responsibility of the social insurance company Caja Costarricense de Seguro Social CCSS (also known as ‘Caja’). This includes 30 hospitals and around 500 clinics. CCSS is investing increasingly in new facilities and equipment in order to be able to meet the export demands of Costa Rican products.

This active healthcare sector brings export opportunities to companies that can offer advanced manufacturing technologies, equipment and medical infrastructure.

Costa Rica needs, among other products, ultrasound equipment, cleaning systems, x-ray systems, precision and cardiovascular instruments. In Costa Rica the whole population has equal access to healthcare services and public health insurance. The United Nations ranks Costa Rica’s health sector among the top 20 in the world.

Manufacturers of medical devices that wish to minimize their production costs should consider investing in Costa Rica. The country is a good location for product assembly and elaboration before exporting to countries where they share tariff-free trade, including other Latin American countries as well as the U.S., Canada and China. Costa Rica also boasts one of the best-educated labour forces among Latin American nations.

Currently there are more than 65 medical device companies active in Costa Rica manufacturing and exporting Class I to Class III products. Costa Rica is also the most innovative country in Latin America, and as an outsource destination it currently ranks 13th worldwide.

Costa Rica also offers opportunities for companies active in medical tourism and the construction of private hospitals. In fact, the WHO now ranks its healthcare system above the U.S.

Retirement hot spot creating demand for services

The National Priority proposal of former President Arias announced new efforts to entice 10,000 additional foreign retirees, or “pensionados”, to make Costa Rica their new home. In this initiative, the country faces stiff competition from neighbouring Panama, Nicaragua and Belize and is looking for ways to step up this effort. When it comes to biodiversity and natural beauty, Costa Rica is hard to beat, and there are plenty of other recreational activities available to keep snowbirds happy on top of the good public and private healthcare.

If you are a supplier of services that cater to retirees,  Costa Rica is certainly worth a closer look.

The proximity to North America, the relatively high level of English usage, and ports on both coasts, make Costa Rica an attractive destination for Canadian and U.S. businesses. Traveling within the country is easy, and distances are short, making it possible to schedule several meetings in a few days.

Costa Rica has a pleasant business climate and the people of Costa Rica (Ticos) generally have a polite, friendly and easy going disposition. Their optimistic ‘pura vida’ attitude towards life in general makes it a country where the pace may be slower than we are used to in Western countries, but very pleasant to live and work with.

Guilty of overlooking Costa Rica as business destination? You’re not alone, but you can change that. Inform yourself about the possibilities for your company and visit the country to see whether you and Costa Rica are a match. Pura vida!

The post Not just a vacation destination – don’t overlook lucrative export opportunities in Costa Rica appeared first on Trade Ready.

With the new administration in action, have you become a bit nervous about the U.S. as an export destination? I’ve recently spoken with many companies from around the world. Most of them said that since President Trump’s inauguration, they are unsure of their future because the U.S. is their only or biggest export market, and they now consider themselves at risk.

The ironic thing is that, whether they realized it or not, they always were at risk.

It is essential to diversify your exports and not depend on one market, especially when that market is as big as the U.S.

Diversifying your export markets, and therefore spreading out the risks, should have been a priority right from the start; but now, the pressure is on.

The good news is, there are plenty of other interesting markets elsewhere, especially in Latin America, that offer the opportunity for growth. Like Canada and the U.S., Latin America is a continent of immigrants, and it offers the opportunity to create scale. This especially applies to Brazil, which has more than 200 million inhabitants. The continent has gone through some major changes in the past 15 years, politically, socially and economically.

For almost all of the LATAM countries, these changes have been for the better. This comes with the one exception of Venezuela, where things have gone from bad to worse to terrible. Unfortunately, that country should not be on your export destinations wish list.

Get involved in infrastructure in Brazil and Argentina

Let’s look at the two biggest economies in South America: Brazil and Argentina. Both countries have new administrations and offer more export opportunities than ever before.

The previous administrations were very protectionist, whereas the new ones recognize the importance of international trade (and not just their own exports) as important means to further develop their domestic industries and quality level. Both countries have experienced major crises, but are now on their way to recovery. It will be a bumpy ride, but definitely one with a positive outlook.

Don’t wait until these economies are fully back on track and growing fast – go there now.

Both Argentina and Brazil have indicated that developing their infrastructure is a top priority, and necessary to increase domestic economic activity and resume growth. This includes air and road transport, energy and cargo logistics. Agritech is another sector that offers plenty of opportunities for companies wanting to export there. In Brazil, luxury retail items and products related to health and cosmetics are also growing markets.

Both countries have a long way to go to improve food security, quality standards (especially for products meant for export), precision agriculture, and harvesting technologies with preference for sustainable techniques (i.e. Brazil’s poultry sector needs to reduce water consumption). In Argentina, there are opportunities to provide solutions for the underperforming dairy industry as well.

Brazil and Argentina are part of the Mercosur, South America’s biggest trade bloc. There is tariff-free trade between the member countries, but they currently do not have free trade agreements with any other nations. That can be considered a negative issue, and of course it poses a challenge, but the absence of a free trade agreement should not be a reason to overlook these two export markets. If anything, there may be more opportunities if you decide to seriously work in these markets. You will need to build strong export tactics and strategies, but will likely face less competition for your exports.

Time to say Hola to Mexico

Another country where your company can grow is Mexico, home to over 100 million people – the second largest economy in Latin America. Mexico is predicted to be the world’s seventh-largest economy in 2050. Typical of most countries in Latin America, and unlike many Western countries, Mexico has a growing middle class (now almost 50% of the population). This middle class likes to spend money on health and beauty products, food (especially convenience foods), home and kitchen appliances, clothing and footwear.

The current quarrels between Mexico and the U.S. may actually prove to be beneficial to Canadian exports. Mexico offers opportunities in (but not limited to) electrical engineering, infrastructure, healthcare (equipment, generic and over the counter drugs), energy, and agriculture.
Mexico is also looking to further develop its floriculture sector. They are seeking active collaboration with the Dutch, but there are opportunities for companies worldwide with activities related to greenhouse development.

Be prepared to make a commitment to LATAM

I would love to discuss each country in Latin America individually, since so many of them offer great potential. Unfortunately, there is no room for that here, but let me state that in general Latin America offers excellent export opportunities in healthcare, energy, infrastructure, retail, agriculture and construction. These countries need to diversify their own industries (beyond commodities) and are in need of technology, innovation, urban development and improved productivity. The growing middle class is prepared to pay premium prices for better products and services.

Exporting to Latin America is not for companies who like an easy ride.

It’s for the ones that are ready to take on the challenge and see the benefits of working with Latin American markets for a long period of time. The region offers many opportunities to companies willing to spend the time, effort and money. You may not find short-term ROI, but if you plan for ROI in two to three years and work the market as you are supposed to, you can profit from it immensely.

Preparation is essential if you want to have any chance of success. Market research and due diligence are your insurance against market entry failure, especially in Latin America.

But if you do it well, having a bit of salsa and samba in your exports can truly make a difference to your company. More diversification, more revenue, more global impact and more fun. Start now!

The post Here’s where you’ll find the biggest LATAM market entry opportunities in 2017 appeared first on Trade Ready.

Venezuela’s market has collapsed in a staggering and alarming way.

Inflation is at 700 percent, according the International Monetary Fund, though some analyses place the number over 1000 percent.

Ninety percent of the country’s population report that food is too expensive and too hard to find.

Police guard grocery stores where people line up for hours for food that might not come.

There is rioting against the government and looting of grocery stores and food trucks.

Medicine and water are in short supply.

The country faces daily electrical blackouts.

As Venezuela deals with the daily political and economic turmoil, the economic collapse has also brought political discord to the region. Most notably, the remaining member countries of the Mercosur trading bloc — Brazil, Argentina, Paraguay and Uruguay — are in an open fight about Venezuela’s position within the bloc.

Venezuela’s economic upheaval

It could be said that Venezuela’s current economic situation is a matter of bad trade policy. For years the country imported food and other consumable goods, which were heavily subsidized by the government, while it relied on oil exports to drive its economy.

The country was already on precarious economic footing two years ago when oil prices began to fall. In the last two years, the Brent price for a barrel of oil has fallen from $102 per barrel to $49 per barrel. This price drop has been catastrophic for Venezuela, as more than 95 percent of its export dollars come from oil.

In fact, since the downturn in oil prices began, Venezuela has seen its oil revenues drop by 50 percent.

The drop in oil prices and decrease in Venezuela’s oil income has had a spiraling effect. As Venezuela’s state-run oil company could no longer afford to pay service oil companies operating within the country, those service companies have slowed or halted their Venezuelan operations. In the first half of this year, Venezuela’s oil production dropped by 250,000 barrels per day.

The economic crisis has led to political turmoil in Venezuela as well. The government has seized political prisoners. In early September, more than 1 million Venezuelans took to the streets to protest the government. There has been an energized movement to hold a recall election of Venezuelan President Nicolas Maduro.

Mercosur’s power vacuum

For the Mercosur trading bloc, which Venezuela has been a member of since 2012, the unrest in Venezuela has brought unprecedented upheaval, primarily because Venezuela was meant to take over the bloc’s presidency in July.

Under the bloc’s laws, each of the member states serves rotating six-month terms in alphabetical order. With Venezuela in turmoil and Maduro facing a potential recall, Argentina, Brazil and Paraguay have blocked the transfer of power to Venezuela. They argue that Venezuela’s political problems are in violation of Mercosur policies requiring democratic proceedings within its member countries.

A country that has political prisoners cannot be a democracy, and Venezuela will not take over Mercosur. – Brazilian Foreign Minister Jose Serra

Uruguay, meanwhile, has supported Venezuela’s position within Mercosur.

There have been talks and summits for Mercosur to determine the best path for continuing its operations until January, when the bloc’s presidency will pass to Argentina. A collective presidency including all member states except for Venezuela has been suggested, but an agreement has not yet been reached on how that would work.

Currently, Mercosur has established a light agenda for the remainder of 2016. While that could seem like a viable strategy for seeing the trading bloc through the end of the year to Argentina’s presidency, that lack of leadership could prove detrimental to Mercosur’s future. The bloc has been in talk with the European Union to establish a trade agreement, an initiative that Argentina and Brazil have been adamant about working toward in an effort to strengthen their own economies.

Mercosur faces an uncertain future

Analysts have said that Mercosur likely will weather Venezuela’s economic storm. Similar blocs, such as the European Union, have been incredibly steady over the last 50 years, leading most to conclude that a Mercosur collapse would be highly unlikely.

However, analysts have said that the bloc needs to take bolder action in ensuring its future. There have been calls for stronger leadership, and some analysts have said that for Mercosur to endure, its member countries will have to find a stronger source of leadership to rally behind. Some analysts have even suggested that the only way to overcome Venezuela’s political and economic crisis is to oust the country, which was brought into the bloc in 2012.

Ultimately, securing Mercosur’s future could require more of the trade bloc than the proposed actions and leadership, analysts said.

In dealing with an economic crisis the size of Venezuela’s, all of the member countries will need to work on an overarching strategy to address the crisis and its effects on the region.

In the meantime, Mercosur risks losing ground in furthering its mission to strengthen its member countries’ economies by forging favorable trade deals.

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The world’s eyes are on Brazil as the 2016 Summer Olympics continue in Rio de Janeiro this month. As one of the BRICS nations and the economic leader of Latin America, Brazil is certainly an important market to consider. But doing business in the region is not without its major challenges. Is your business ready to export to Brazil?

1. Where are the best opportunities?

With a population of over 203 million people, 40 million of which have been added to the middle class in the past decade, and a large, diverse economy, Brazil is a hard market to ignore. Canadians export almost $2.2 billion worth of merchandise to the country, and the U.S. traded an estimated $95.4 billion of goods and services with Brazil in 2015.

The massive cities of Sao Paulo (pop. 21 million) and energy and gas giant Rio de Janeiro (pop. 6 million) present some of the more obvious starting points for market entry. However, there are growing opportunities in resource-rich cities like Belo Horizonte as well.

In 2015, Brazil announced a new infrastructure program expected to bring US $64 billion in investment to carry out badly-needed upgrades on highways, railways, ports and airports across the country. Brazil is also poised well for North American exports and investment in building and construction, aerospace, IT, medical equipment, renewable energy, education technology and distance learning.

2. You won’t be able to set up shop overnight

Starting a business in Brazil is not a simple task, requiring a significant amount of time and effort. The World Bank’s 2016 Doing Business Report, which ranks 189 countries on the ease of starting a business within each nation, found that it takes 11 procedures and 83 days to complete the process of opening a business. Dealing with construction permits requires an additional 18 procedures and 426 days.

Brazil has improved in some areas, rising 10 ranks from 126th in 2012 to its most recent evaluation of 116th.

According to the report:

Brazil reduced the time for documentary and border compliance for exporting by implementing the electronic SISCOMEX Portal system. This reform applies to both Rio de Janeiro and São Paulo.

However, in the same year Brazil also increased its property transfer tax, making it harder for businesses to purchase land and property.

Importing and exporting pose their own challenges with Brazil as well. Customs regulations are extremely strict in Brazil, requiring careful attention to detail in all cross-border paperwork. Brazil is also known for its high level of administration and bureaucracy. Goods leaving and entering the country are often held up at the border as complex procedures are followed. On average, it is expected that a container of goods will take 13 days just to leave the country.

3. Be prepared to navigate a complicated tax system

Businesses considering doing business in Brazil should be aware that the country is home to a notably complex tax system. Brazil is a very large country, spread out over different states and municipalities, many of which have different tax rates.

Brazil has one of the highest tax rates in the world, put into place to combat rising inflation, negative growth, and provide much needed social programs. There are many different types of taxes that businesses should know about and understand before entering this market. Companies must analyze their business structure, the local regulations, and customs rates.

The best way to ensure your business properly navigates Brazil’s intricate tax system is to pair up with local partners or legal firms who can lead you through the process.

The good news is that there are different types of incentives programs available for foreign companies looking to establish businesses in Brazil, especially long-term investment. To find out more about available FDI incentives, visit www.apexbrasil.com.

4. Finding local partners is crucial

Brazil likes to do business with Brazil. It’s an easier transition for companies to work with local businesses, the language is the same, and it benefits their economy. Most business, administration, legal, and government communication is done in Brazil’s native Portuguese.

The complexities of navigating the legal, bureaucratic, and cultural aspects of the Brazilian business world are a lot for even local companies to deal with. That’s why it is highly beneficial to partner with a trusted organization on the ground in Brazil.

So how do you connect with the right partners? One place to start is to look to your local export development organizations such as export.gov in the U.S., or the Trade Commissioner Service and EDC in Canada. Building a successful business in Brazil is not an easy task, and a long-term strategy and commitment are essential. Why not get a helping hand from a partner who knows the market best?

5. Workers and salaries are protected

Part of building up the middle class in Brazil has been the development of higher standards for workers in the region. Unions have made some major strides in terms of their influence in the country and their achievements on behalf of the workers they represent.

As a result, Brazil has a complex system of labour laws to match their tax system, and non-compliance can easily result in large fines and a black mark on your business’s reputation.

Some examples of workers’ rights that you should be aware of before bringing your business to Brazil include a minimum of four weeks holidays per year, starting right away for new employees. Every employee receives an extra month’s salary in addition to those four weeks in December.

Brazilian workers’ salaries can never be cut, only raised. The cost of hiring an employee due to a high rate of taxation is equal to roughly 100 percent of their salary. Any business looking to hire local employees in the country should consider these costs, and look at alternatives to having a large local staff.

Brazil is a massive market bursting with opportunities for North American businesses. And though this is a difficult market to enter, both logistically and culturally, it can pay off in a big way to any business who has done the right planning.

The post Top 5 things you need to know to export your product to Brazil appeared first on Trade Ready.

Brexit is in the news day in and day out. If the headlines are to be believed, a world cataclysm is fast approaching and the end is nigh. Trading relationships will crumble, isolationism will reign supreme, and Britain’s plunging currency is only the beginning.

But for those not affected by the moody ponderings of the press, Britain’s self-inflicted exit from the European Union does present an interesting case study; a window into the decline of global trade.

Global trade has stagnated

Truly global trade is a fairly recent phenomenon.

While countries have shipped commodities across borders and oceans since the days of the Incense Route in ancient Abyssinia, it was only in the immediate post-war years of the late 1940s that global trade truly took off.

Today, the moniker is slightly misleading, for there are really only three truly global trading partners: the United States, the European Union (Britain has no intention of severing its trading relationship with the EU) and the behemoth that is Japan.

However, while the import and export of goods on a massive scale continues daily across the world’s oceans and land borders, the rate of trade and corresponding economic growth between trading partners has stagnated. Some experts say that ‘peak trade’ already occurred back in 2007.

Increasingly autonomous nations even out imbalances

A consistent factor in the decline in global trade is the lack of imbalance between trading partners. Typically, trade flourishes when a superpower exchanges finished goods for raw commodities with a lesser economy.

Latin America, for example, flourished during the 1980s. Milton Friedman controversially cited the ‘Chilean Miracle’ as proof that inflation could be stopped in its tracks by stable government and economic restructuring in the place of military juntas. In recent years, the Chilean Miracle has trickled down to other Latin American economies, increasing self-sufficiency and lessening the economic divide with ‘The Big Three.’

“Trade flourishes when there are imbalances,” says Peter Labrie, veteran investment banker and faculty member at Ashton College.

“It stagnates where countries are self-sufficient. Latin American countries have always been exporters of raw materials, but they used to import nearly all their finished goods. More and more of those finished goods are now made in Latin America. Alternatively, these countries trade between themselves, sometimes through barter.”

Both trends of self-sufficiency and trade within regions undermine global trade because countries are more autonomous.

Autonomy is rapidly becoming the norm within global trading partnerships, but it’s far from the only factor affecting global trade growth. Energy independence and a significant drop in the price of crude has put a serious dent in global trade.

“The U.S. and Canada are importing less oil from outside of North America” says Labrie. “A VLCC tanker used to carry $100 million in crude. That same shipment today is valued at $30 million.” If the price of oil is any indication, it would seem that we have indeed hit peak trade and that the ride down the mountain may not be as smooth as the way up.

But economists, investors, and politicians alike are urging the dispassionate to see the silver lining in the cloud. While the World Trade Organization is expecting a 2.8 percent decline in global trade growth during the 2016 fiscal year, things are expected to pick up in 2017 with an increase of 3.8 percent. And with demand for imported goods increasing in Asian economies as well, the recent dip may be just that: a brief interlude that is at best only temporary.

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Barack Obama became the first U.S. president to visit Argentina in 20 years last week, another landmark trip on the heels of his recent visit to Cuba.

The trip marks a significant turning point in bilateral relations between the two countries. Under the previous 15 years of Kirchner rule – first President Nestor Kirchner from May 2003 to December 2007, and then his widow Cristina Fernandez de Kirchner from December 2007 to December 2015 – the bilateral relationship suffered.

U.S.-Argentine relationship breakdown

Following the Argentine fiscal crisis of 2001-02, the U.S. supported the decision of the International Monetary Fund to cut off assistance to Argentina until the Argentinian government agreed to an economic recovery plan.

Anti-American sentiment in Argentina increased in 2011 when the White House neglected to visit Argentina during Obama’s first trip to South America.

Tensions between the two states mounted in August 2014, when a U.S. court declared Argentina’s plan to address its debt default to be illegal.

The Argentine government under Fernandez de Kirchner had planned to ask investors to swap roughly $100 billion in defaulted bonds for new, locally issued debt.

However, the U.S. court instead labelled the plan as a “violation of the current orders” of the court.

Fernandez de Kirchner fired back, telling Argentinians the next month that “if anything happens to me…look North.”

Bilateral trade deteriorated between the two countries. In 2014, only 5.9% of Argentine exports were purchased by the U.S., down from 11% in 2005. American imports in Argentina also fell from 18% in 2001 to 12.7% in 2014, according to the Clarin newspaper in Argentina.

New Argentine leadership signs TIFA

Fernandez de Kirchner left office in December 2015 after completing maximum term limits, while opposition candidate Mauricio Macri, the staunchly pro-business outgoing mayor of Buenos Aires, won the presidency.

Macri moved quickly to resolve Argentina’s outstanding debt to creditors, reaching a US$4.65 billion settlement which would see the largest remaining holdout creditors get 75% of the outstanding amount on their full judgments.

The move also allowed Argentina, Latin America’s third-largest economy after Brazil and Mexico, to return to international capital markets for the first time in over a decade.

That set the stage for renewed talks with the U.S., and resulted in the signing of the bilateral Trade and Investment Framework Agreement (TIFA) on March 23. The agreement gives the two countries a framework under which to advance economic cooperation.

A renewed commitment to bilateral trade relationship

Included in the trade agreement is a commitment to work together to increase their cooperation in the World Trade Organization, improve market access on both sides, and strengthen Argentina’s capacity to combat organized crime.

The agreement also sets plans in motion for the U.S. to send six trade delegations to the Latin American country.

The first will take place in April and be led by U.S. Small Business Administrator Maria Contreras-Sweet, who will then sign a Memorandum of Understanding with Argentina’s Ministry of Production. The focus of this delegation will be on supporting and promoting women entrepreneurs.

The bilateral pact will also help the Argentine government establish a network of business assistance centers, and help connect existing Argentine businesses to international partners via the Small Business Network of the Americas.

The U.S. also expressed support for Macri’s economic reforms, and vowed to provide assistance. Reforms include devaluing the peso, slashing export taxes, and cutting the red tape previously required to import parts and equipment.

U.S. Trade Representative Michael Froman said:

The agreement provides a vehicle for strengthening U.S.-Argentina trade and investment relations at an important time.

“It reflects President Obama’s strong interest in improved bilateral relations with one of the most important economies in the western hemisphere, and to promoting increased economic opportunities between us.”

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