50 Years on the Front Lines of Brazilian Trade, with Roberto Giannetti

In this episode of Brazil (is not) for Beginners, Isaac Matzner sits down with Roberto Giannetti da Fonseca, economist, trade diplomat, and one of the most seasoned voices in Brazilian international trade. With a career spanning half a century — across both government and the private sector — Roberto offers a rare firsthand account of how Brazil's economic relationship with the world has evolved, and as well as the forces that will shape it going forward. Roberto, who graduated as an economist from USP just as the first oil shock hit the world economy, found himself in the world of trade, just as Brazil was scrambling to build a trade surplus to keep its economy afloat. What followed was 50 years on the front lines of trying to drive Brazilian access to international markets. Roberto recounts founding Cotia Trading alongside his best friend, growing it from zero into one of Brazil's largest trading companies by 1985 — second only to Vale in exports. From airlifting chilled beef to Nigeria to building Guaraná bottling plants to compete with Coca-Cola, and selling Brazilian Steel to China, Roberto's early career reads like an adventure in global commerce. Roberto then walks us through one of Brazil’s most turbulent economic chapters: the debt crisis of the 1980s, the Collor Plan and the freezing of savings accounts, the hyperinflation years, and ultimately the Plano Real. Roberto was at the table — or loudly knocking on the door — for most of it. Eventually joining the FHC government as head of CAMEX, Brazil's foreign trade policy body, where he created APEX (the Brazilian export and investment promotion agency), Roberto championed floating exchange rates before they were popular, and used export taxes on raw leather to force-build a domestic shoe industry, Before working with FIESP and now LIDE along with a number of business and export associations to promote Brazilian industry abroad. The episode closes with Roberto's vision for Brazil's role in the 21st century: as a global food superpower, biodiversity giant, and emerging energy power — and the infrastructure gaps that still stand in the way. Key topics include: How the 1973 oil shock turned exporting into a patriotic mission for Roberto's generation Building Cotia Trading from zero into Brazil's second-largest exporter in under a decade Why hyperinflation quietly killed Brazilian export competitiveness in the late 1980s The Collor Plan, the frozen savings accounts, and what came next How Roberto helped create APEX, Brazil's export and investment promotion agency The case for open economies — and why protectionism makes industries lazy Brazil's three missions for the 21st century: food superpower, biodiversity guardian, energy giant Why cultural fluency is non-negotiable for anyone doing business in Brazil And lots more!