Flavio Maluf is one of the most prominent names in Brazil. He is an entrepreneur and businessman with expansive knowledge in financial matters. Currently, he works as the CEO of the family-owned Eucatex. Flavio Maluf left New York, where he was furthering his studies and had established a career, when he was recalled to come work for Eucatex.
Maluf worked in the trade section of the company, proving himself worthy of a series of promotions within that area. This was before he was transferred to the industrial area. Within no time, he was appointed to serve on the board of executive and it did not take long before he was voted to succeed his uncle, as president of the company.
Other than heading just about the largest Brazilian company that produces furniture and other building materials using natural eucalyptus, Maluf is constantly seen giving his two cents on financial matters affecting the country. Recently he spoke of the impact that EU’s exit had on the economy and this is what he had to say.
Flavio cited that Brexit would have negative consequences on British’s economy. He pointed that even though Britain exited EU because they were getting less than they were spending on the body, this would lead to a slow in investments. Less people from the other parties would be willing to invest here since transportation of good and people between British and the other EU members was no longer free.
Other than reduced investments being received by Britain, the exit will also have an impact on trade. After the exit, Britain is no longer allowed to free trade with the other EU members. Tariffs and quotas will now be placed.
Maluf also commented on the impact of Brexit on import and exports. He said that the Brexit move would have a positive impact on exports. This is because, countries like Brazil could now engage in bilateral trade agreements. He also said that EU would suffer from the move. This is because UK was one of the largest building blocks of this body.