The infrastructure, energy, mining and natural resources sectors in Brazil and the Pacific Alliance countries offer considerable opportunities for law firms, according to Ignacio Paz, a partner at Herbert Smith Freehills in Madrid.
“Latin America is a very important region in the world and we see a lot of business opportunities there,” he says. One of the key responsibilities for law firms is helping their clients mitigate risks in the region, according to Paz. “We have to offer different mitigation factors in response to those risks.”
Paz says Herbert Smith Freehills’ main focus in Latin America is sophisticated international arbitration matters and also inbound investment. “We are not solely focused on Spanish companies, but also on taking our worldwide clients to the region and to identify opportunities there,” he says. Paz adds that the firm will be looking to build on the success of its US arbitration practice in Latin America. He says: “We have a very strong offering in New York where we act for clients that have invested in countries and have had a bad experience regarding those investments.”