Brexit Decision May Be Good News For Brazil’s Economy

Britain started a new chapter in their history on June 23, 2016. That date will go down in the history books as the date the UK decided to leave the European Union. The Brits were sick of the EU’s overbearing bureaucracy, and the money they gave to the EU that disappeared without any positive results. Britain now has the opportunity to develop more trading partners, and one of those new partners might be Brazil. When Portuguese-speaking Brazil found out about Britain’s decision to leave the EU, Flavio Maluf the CEO of the giant international company, Eucatex, didn’t waste any time calling his offices around the world. The Brexit decision could translate into more business for Eucatex, and Maluf wanted to alert his associates in Britain, and in other countries that opportunity was knocking on their door.

Flavio Maluf is a special kind of Chief Executive Officer. Maluf started his career with family-owned Eucatex in 1987 after spending time in the New York City attending NYU. Maluf learned to translate Portuguese into English when he lived in New York. He did learn English in school in Brazil, but living in New York gave him the opportunity to learn to speak and write English without a distinct Portuguese accent. When Maluf joined Eucatex he was an apprentice, so he worked his way through the company learning all there was to know about forestry, minerals, and wood, especially eucalyptus wood. Flavio became president of Eucatex in 1997, and he is now the CEO of the company. Eucatex ceiling tiles got the company started in the export business, but Eucaboard is one of the main products that is used in furniture around the world. Eucatex MDF and MDP panels are also important exports and so are, Eucatex doors and paint.

The UK has never been a big importer of Eucatex products, but Maluf believes Britain might sign a bilateral trade agreement with Brazil, and that would be a good thing for Eucatex. Britain only accounts for less than 2 percent of all Brazilian export revenue. Maluf thinks that might change because of the Brexit decision.

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