A
publication of the Brazil-Canada Chamber of Commerce
June 20, 2008
Please click on each headline for this week's top stories!
BRAZIL-CANADA CHAMBER OF COMMERCE LAUNCHES www.brazcan.org
The Brazil-Canada Chamber of Commerce (BCCC) has launched its interactive online portal www.brazcan.org The portal is a unique, online business tool providing users with access to profiles of the leading business and government organizations in Brazil and Canada. Through www.brazcan.org , users looking for resources involved in Brazil-Canada trade and investment will have access to profiles and contact information of consultants, accountants, customs brokers, transportation and packaging, lawyers, translators and interpreters, media and government agencies. The portal also links to extensive market research both on Canada and Brazil, and showcases trade and investment opportunities.
To find out how www.brazcan.org can transform your region’s market intelligence please contact
Brazil-Canada Chamber of Commerce
T:
416-364-3555
BCCC, CCA and I.E. Canada Members Only
1. Welcome Reception for Canada's new Brazilian Ambassador, Paulo Cordeiro de Andrade Pinto
Special Announcements
2. Brazil to Have Two New Canadian Trade Offices, Announces Minister Emerson
Country News
1. Bahia State Opens Bidding Process for Exploration, Mining Leases- Brazil e
2. Brazil Steel Output Up in May, Record Local Sales
3. Playing the Commodities Boom, Brazilian Style
4. Coffee Rises on Concern Frost May Curb Brazil Crop Development
Cultural Events
1. Grammy Award Winner Sergio Mendes to Visit Toronto
BCCC, CCA and I.E. Canada Members Only
Welcome Reception for Canada's new Brazilian Ambassador, Paulo Cordeiro de Andrade Pinto
(This event is for members of the BCCC, CCA and I.E. Canada only.)
The Brazil-Canada Chamber of Commerce in collaboration with Heenan Blaikie invite you to join us in welcoming Paulo Cordeiro de Andrade Pinto, Brazil's new ambassador in Canada.
Date: Tuesday, July 2, 2008
Time: 05:30 PM - 07:30 PM
Location:
Heenan Blaikie
Cartier & Laurier boardrooms
200 Bay St., South Tower, Royal Bank Plaza
Toronto, Ontario
M5J-2J4
Please RSVP with Sonia Medeiros at (416) 643-6839 or at torontorsvp@heenan.ca
Please note that there are limited seats available for this event, please RSVP as soon as possible so that you can be guaranteed a seat.
Thank You Kindly.
Please click here to view the invitation.
Special Announcements
The Honorable David Emerson, Minister of International Trade announced that Canada is opening two new trade offices in Brazil. The strategic initiative was revealed during his speech at the International Trade Day 2008, an event hosted by the Canadian Chamber of Commerce yesterday at Mississauga Convention Centre.
“We will open new trade offices in the cities of Porto Alegre and Recife to develop opportunities throughout Brazil. These offices will also provide a strategic link to Brazil’s Mercosur partners Argentina, Chile, Paraguay and Uruguay”.
Minister Emerson demonstrated yesterday Canada’s commitment to key global market.
“Along with these offices, we are adding new trade staff to existing offices in China, India, Brazil, Panama, Chile and Colombia; all under the Global Commerce Strategy. We need our businesses reaching out to the world. These offices will help them do it”.
To read the Minister's speech, click here
Country News
Bahia State Opens Bidding Process for Exploration, Mining Leases-Brazil
(Bnamericas)
Brazilian Bahia state's mineral research company (CBPM) opened the bidding process for leases for exploration and production of minerals including iron ore, quartz, copper and gold.
In terms of iron ore exploration José Carlos Cunha, a top geologist at CBPM, told BNamericas that there are 20,000ha available for bidders in northern Bahia with a potential 1.5Bt of reserves in the regions of Casa Nova and Remanso. Cunha said that iron ore on Bahian soil differs from iron ore in Carajas and the iron quadrilateral in Minas Gerais.
"Iron ore in Bahia is itabirite," says Cunha. "It has a lower iron ore content of 30% compared to ore in Minas and Carajás which has 65% content. However, ores in Bahia can have 68% content after going through a crushing and concentration process."
For the full story, click here
Brazil Steel Output Up in May, Record Local Sales
(Reuters)
Brazil's steel output rose nearly 3 percent in May from the same month a year ago and domestic sales hit a record, boosted by demand from the booming automobile and construction sectors, an industry group said on Thursday.
Raw steel output totaled 3 million tonnes in May, up from 2.9 million tonnes in the preceding month, the Brazilian Steel Institute said in a report.
Rolled steel sales in Brazil soared 13 percent from May 2007 to a record 1.9 million tonnes. Rolled steel output rose 1.2 percent from a year ago to over 2.2 million tonnes.
For the full story, click here
Playing the Commodities Boom, Brazilian Style
(Economist)
IF BRAZIL'S commodities-fuelled boom had a face, it would belong to Eike Batista. On June 13th the entrepreneur floated some of the stock in OGX, an oil company he created last year. It has yet to start drilling and therefore has no proven reserves. It has fewer than 100 employees. And yet the initial public offering raised $3.6 billion, giving the company a similar market value to Google when it floated in 2004.
The idea for the company apparently came to Mr Batista mid-air, while he was discussing the remarkable hit ratio in terms of wells sunk to barrels found of Petrobras, Brazil's national oil company. Petrobras's monopoly ended in 1996, but ever since then it has taken advantage of its dominant position, persuading potential competitors to work with it rather than take the company on in its home waters. Why not, thought Mr Batista, hire those Petrobras people who are so good at finding oil, pay them more than they used to earn, and use their expertise to decide which drilling rights to buy at auction.
For the full story, click here
Coffee Rises on Concern Frost May Curb Brazil Crop Development
(Bloomberg)
Summary of original article by Shruti Date Singh
Coffee rose for the third time in four days on concern cold weather in Brazil, the world's biggest grower, may threaten the development of the crop that growers will pick in 2009.
Temperatures in Brazil's growing region will drop to ``near to below normal'' on June 23 and June 24, private forecaster Meteorlogix LLC said. Still, damaging cold has not been forecast. The threat of a frost or freeze runs from June 1 to the first week in August, with the highest risk from June 21 through July, said Joel Burgio, a meteorologist at Meteorlogix.
"The 2009-2010 crop is seasonably smaller,'' said Rohit Savant, an analyst for CPM Group in New York. "If it's damaged by frost, the global market would be in bad shape.''
For the full story, click here
Grammy Award Winner Sergio Mendes to Visit Toronto
Date: Saturday, June 28, 2008
Time: 08:00 PM
Location:
The Music Hall
147 Danforth Avenue
Toronto, Ontario
Tickets go on sale Saturday May 10, 2008 @ 10AM. Tickets available at all Ticketmaster outlets or call (416)870-8000 to charge by phone. Order on-line at www.ticketmaster.ca
For complete details on this event, please click here
This newsletter has been brought to you in part by:
BCCC Communication Committee: Almeiri Santos and Andreia Santos
For suggestions or comments about our BCCC Bulletin feel free to contact us at bccc@iecanada.com
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Disclaimer - BCCC Bulletin is provided as an information service to our members and key contacts. It is designed to provide the most up-to-date trade information from a variety of sources. The information we feature does not necessarily reflect the Chamber’s opinion on a given international trade issue. Although we endeavour to disclose accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. The Brazil-Canada Chamber of Commerce cannot assume any responsibility for actions taken solely or principally on the basis of information provided.