HOUSTON —  Hector Morales, former ambassador and  Senior International Advisor at Baker & McKenzie, moderated today’s Track I Global Markets session on Brazil, Cuba and Mexico.

The market varies a great deal in these countries. The key takeaway for businesses working in these markets: Do Your Homework.

Brazil

• Watch for developments in the currency.
• Learn the tax system. It has many jurisdictions and regulations.
• Know that there are more formalities to doing business here, and that there is an extended timeline for transactions.
• Be aware of potential language barriers.

Cuba

• Get up-to-date. Significant embargo changes this year opened the market in the telecommunications, travel and transportation sectors.
• Know the business limitations. Many sectors still have heavy restrictions.
• Expect more changes as the US and Cuba continue talking.

Mexico

• With the recent energy reform in Mexico, look for more opportunities for private investors from other countries.
• Learn the local business processes, especially on real estate issues.
• Choose your local partners carefully. They are important for establishing your company in the market and providing insights on local customs.

HOUSTON — Following Stephen Munger‘s keynote address this morning at Doing Business Globally in Houston, Baker & McKenzie Houston office Managing Partner Jonathan Newton led a discussion with business leaders on the risks and opportunities for multinationals.

Key takeaways:

• For oil and gas businesses, buyers and sellers are just now starting to get on the same page. Though the transaction volume has been down recently, the prediction is that it will pick up.

• While technology has allowed businesses to work more remotely than before, “nothing beats the old-fashioned one-on-one.”

• When expanding a business internationally, the top issues to consider are the jurisdiction’s legal functionality, corruption risks, ability to freely move labor, and the economic stability of the area.

• A successful partnership between business and legal teams can be reached when each side knows the business and has the attitude of “I’m here to support the business.”