The Ceylon Chamber of Commerce (CCC) recently entered into a MoU with the Foreign Trade Chambers Federation Rio de Janeiro - Brazil.
"Private investors in Brazil will see this as a unique opportunity to work with Sri Lankan business conglomerates," Paul Marcondes Ferraz, President of the Foreign Trade Chambers Federation Rio de Janeiro was quoted as saying at a media briefing during the MOU signing ceremony held in the presence of Mahinda Balasooriya, Ambassador for Sri Lanka in Brazil. The Sri Lanka Embassy in Brazil facilitated the signing of the MoU, according to a CCC media statement.
The CCC, considering the many opportunities that would emerge as a result of Rio de Janeiro and Brazil hosting two mega events, the FIFA Football World Cup 2014 and the Olympics 2016 in Rio, has considered expanding its horizons to Rio.
Brazil's economy is the world's seventh-largest at present accounting for US $ 2.3 million GDP in 2011 as per IMF ranking and it is expected to grow 4% in 2012. It is forecasted to rise to fifth within the next several years. For the first time, a majoriy of Brazilians are now middle-class, and domestic consumption has become an important driver not only for Brazilian growth.