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COMPARATIVE DATA (CHINA VS BRAZIL) 2012

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U nion Internationale des Avocats International Association of Lawyers MACAO – 2013 BRAZILIAN INVESTMENTS IN CHINA AND CHINESE INVESTMENTS IN BRAZIL. COMPARATIVE DATA (CHINA VS BRAZIL) 2012. ORIGIN OF CHINESE IMPORTS (MAIN COUNTRIES) - BRAZIL: 2,73%.

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Union InternationaledesAvocatsInternationalAssociationofLawyersMACAO – 2013BRAZILIAN INVESTMENTS IN CHINA AND CHINESE INVESTMENTS IN BRAZIL

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BRAZILIAN PRESENCE IN CHINA

(i) in 2012, therewereabout 60 Brazilianenterprises in China (e.g. Inbev, Banco do Brasil, Banco Itaú BBA, Bovespa, Embraer, Odebrecht, Petrobrás, Vale, Votorantim, etc.);

(ii) In the last 10 years Brazil invested in China about about560 million dollars (0,04% of the total amount of foreign direct investments in China);

(iii) the service sector is what most attracted the interest of Brazilian companies, representing 51% of the group;

(iv) Brazilisconsidered a latecomerto China. When it arrived in the country, American andEuropeancompnaieshadalready a consolidated position.

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THE MAIN DIFFICULTIES FOUND BY BRAZILIANS TO OPERATE IN CHINA

(i) Red tape: difficulties on obtaining permits and approvals from the Chinese government for projects in regulated sectors;

(ii) Local partner: mismatch between the strategic objectives of Brazilian companies and the strategic objectives of the Chinese partners;

(iii) Over regulation: the detailed regulation of various sectors by the Chinese government;

(iv) Intellectual property: non-recognition by China of international practices relating to intellectual property;

(v) Government interference with the market: limitsimposedbytheChinesegovernmenttothefreemarket;

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CHINESE PRESENCE IN BRAZIL

(i)Chinesecompanies are dividedintodifferentsectorsofproduction in Brazil;

(ii) the amount China invested directly in Brazil until 2012 corresponds about 20 billion dollars; and

(iii) in 2011, there were lots of Chinese enterprises in Brazil (e.g. Chery, Foxconn, JAC, Wuhan Iron An Steel Group Co., etc.).

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THE MAIN DIFFICULTIES FOUND BY CHINESE TO OPERATE IN BRAZIL

(i) Red tape: bureaucratic processes;

(ii) Taxes: high taxation and complex system;

(iii) lack of infrastructure;

(iv) floating exchange rate;

(v) Visas: difficulties on obtaining working permits

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SPECIFIC ISSUES OF THE CHINESE PRESENCE IN BRASIL – TRADE (ANTI-DUMPING AND SAFEGUARD MEASURES)

(i) The trade defensemeasuresconsist in theapplicationof antidumping andcountervailingduties, provisional ordefinitive;

(ii) The safeguardmeasuresconsist in theapplicationoftariffmeasuresorquantitativerestrictionsagainst a surge in importsfromvarioussources;

(iii) Brazilpromulgatedlaw n. 9.019/1995 thatprovides for theenforcementofrightsunderthe Antidumping AgreementandtheAgreementon Subsidies andCountervailingMeasuresofthe WTO;

(iv) Currently, eventhough China isconsideredanemergingeconomy, it istreated as non-marketuntil 2016;

(v) In 2004, China andBrazilsigned a MemorandumofUnderstandingwherebyBrazilgranted China marketeconomy status. Thisrule, however, hasnotbeenapplied in practice; and

(vi) Halfofanti-dumpingmeasuresimposedbyBrazil are againstChineseproducts;

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SPECIFIC ISSUES OF THE CHINESE PRESENCE IN BRASIL – RURAL LAND ACQUISITION (AGRICULTURE)

(i) Accordingtothelastreportofthe Central Bank ofBrazil, foreignershavebought USD 60 billion in land in Brazil. China isthefirstforeinginvestor in landacqusition;

(iii) TryingtocontrolBrazilianlandacquisition for foreigners’ enterprises, mainlyChineseones, theBraziliangovernmentannounced a change in theopinionofthe General AdvocacyofUnion regardingleglistation;

(iv) for purchasing a rural property in Brazil a foreignentity must beauthorizedtooperate in Braziland must obtainapprovalofanagriculturalprojectofexplorationtiedto its contractualorstatutoryobjectives;

(v) thelimit for acquisitionof rural propertyby a foreign legal entityis 100 rural modules. For theacquisitionof a superior amounttheforeign legal entity must obtainanspecialapprovaloftheBrazilianNationalCongress; and

(vii) The amountof 1 rural module varies accordingtoeachBrazilian region.

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EDUARDO LORENZETTI MARQUES

CAMPEDELLI, MARQUES E ZARIF

SÃO PAULO – BRASIL

[email protected]

www.cmzadv.com.br

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