This week, the Regulation Forum took place in Lisbon. This meeting demonstrates how thinking together enriches our society in the legal, economic and social fields. The event was attended by ministers, judges, academics, ambassadors, presidents of important public and private sector entities, jurists, economists and businesspeople from both countries.
It is proof that what unites us is much greater than what separates us, despite the artificial fractures fostered on social media by agendas contrary to our integration. The fundamental role played by the Brazil-Europe Integration Forum (FIBE) stands out, which reinforces the power of the union between these brotherly countries. Mixed in blood, culture, appearance and identity, it is impossible to dissociate Brazil from Portugal and vice versa.
At this time of intense exchange of knowledge and innovation for the area, legal and economic visions of profound relevance were presented: security, integration, legality and stability. The biggest challenge is to maintain growth without compromising prudence and legal certainty. How can we serve a market that is advancing at a galloping speed and still ensure compliance with all regulatory standards?
The case of Banco Master, in the financial system, is emblematic of this new scenario. The determination of responsibilities will ultimately identify where we failed, as control bodies, by ignoring safety and legality.
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Likewise, the need to create infrastructure for the economic development of Brazil and Portugal is recognized, respecting regulation and preventing corruption and contracts whose intricacies hide private interests. Works such as the creation of the new airport in Lisbon and, in the case of Brazil, the modernization of the road network, add to the countless examples.
Public-private partnerships can and should be encouraged, always in pursuit of the greater interest of social benefit, but also in order to encourage legitimate private interest, aimed at fair profit. You cannot “demonize” the creation of wealth. It is necessary to embrace business advancement, as long as it is guided by ethics. Grow, yes, but always respecting the law.
Is it possible? I think so. The path begins by avoiding the predatory market of “now” and building foundations of economic growth for everyone. This is a small mention of what was built at this meeting, whose purpose of integration was certainly felt by everyone present.
*Priscila S Nazareth Ferreira is a Portuguese-Brazilian lawyer in Private International Law.