The success of international business associated with trade relations among foreign countries and with different business transactions is based on the correlation of the countries’ laws and regulations connected with these business relations. From this perspective, it is important to focus on laws and regulations regarding business transactions which are followed in Canada and Brazil taken into account the particular features of the negotiation process, WTO impact and authority, and differences according to the private and governing laws. Laws and Regulations in Canada Canada’s business transactions and the aspects of international trade are based on a range of the developed laws and regulations. Thus, being the member of many trade organizations and treaties, Canada provides a variety of possibilities for foreign businessmen to work in the country successfully because of following a lot of rights and obligations (Meredith and Gauthier). The success of the business transaction is based on the effectiveness of the negotiations conducted because of the necessity to set clear purposes for business transactions according to the current laws and regulations to meet the interests and legal obligations of both the parties. The negotiations are important to discuss all the basic points of the treaty and to pay attention to such factors as the number of areas involved in the treaty and the aspects of investment protection. Being a member of the World Trade Organization (WTO), Canada is obliged to follow the principles of the international trade set by WTO and meet the requirements of protection agreements. According to WTO standards, Canada uses different trade remedy strategies such as anti-dumping and countervails (“Doing Business in Canada” 90). The authority of WTO in Canada is significant because of the organization’s impact on the majority of the government policies associated with business transactions. However, basing on the government policies, Canada often runs risks to meet the organization’s requirements. That is why, the choice of the governing law can result in the negative consequences for the foreign party (“Doing Business in Canada” 90). Today, Canada is inclined to develop international trade relations only after the prolonged process of negotiating the free trade agreements. The particular features of the private law are also discussed during the negotiations, but its effectiveness in relation to regulating the problematic issues between large organizations is still controversial. Thus, the private law is used to regulate the conflict between small parties (“Doing Business in Canada” 90-93). Canadian laws and regulations associated with business transactions and trade provide measures to control the movement of goods and services, regulate the taxation, state the import and export requirements according to Export and Import Permits Act, and guarantee trade remedies according to Special Import Measures Act (“Doing Business in Canada” 95-96). Laws and Regulations in Brazil Brazil’s relations with foreign countries depend on a lot of national laws and international treaties to regulate the business transactions within the country. The increa