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The Warsaw Voice » Other » June 3, 2009
Portugal in Poland
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New Era for Global Business Law
June 3, 2009   
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The relationship between Poland and Portugal stands as example of accomplishment in the field of common regulations. What is at stake goes beyond EU borders.

The financial system and world economy's present situation has not stopped globalization. If anything, how quickly globalization has spread worldwide is irrefutable proof that the world is a smaller, closer and more co-dependent place. To a varying extent, markets are mutually conditioned. This reciprocal influence has broadened in scope and is today universal. One cannot allow oneself to think in terms of isolated regions, airtight markets or protected areas. All is at stake, everyone is at stake.

If one regarded globalization mostly as advantageous, we are now forced to acknowledge its less pleasant side. It is not possible to face these new horizons and this new way of doing business without corresponding regulations-equally global, sharing the most universal transparency and legal principles.

One is reminded today of Da Vinci's conclusion on how this is not so much a time of change as a changing time in itself. And it has happened fast, in the blink of a generation.

There are regions with minimum regulation, allowing a degree of integration between countries. EU legislation is an example of what can be accomplished. Poland and Portugal provide excellent case studies on how swiftly European regulation can be adapted to. But it takes more than that. What is at stake goes beyond European borders.

It is the way of doing business itself which is at stake today. Urgently needed is the basis of a global law that serves economic agents, operators and citizens, who, through their entrepreneurship, aim to take full advantage of a truly open and accessible world.

This global law, specially designed for business and the development of economic activity, must reflect essential universal juridical values and the rules of doing business which are common to all the regions of the world.

It must allow control and supervision systems to be created for company activities. Above all, it must also act as an instrument put to the service of human accomplishment through the development of entrepreneurial potential.

Nelson Raposo Bernardo, managing partner of Raposo Bernardo Law Firm
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