The recent expansion of US boutique firm Diaz Reus & Targ is evidence that firms still perceive significant growth opportunities in emerging markets, particularly in the "BRIC" nations. The firm has opened an office in Shanghai, following the establishment of its Brazil office in June. Leading the Shanghai office are partners Robert Lee and Adam Ehrlich.

Diaz Reus & Targ is an international litigation and transaction law firm. It is based is Miami and now has five offices and 48 lawyers worldwide.

The firm has had a presence China through an affiliation for several years. In this time, the firm has noticed growing volumes of business from China-based clients. "The strength of China's economy and our increasing deal flows involving China necessitate the opening of our Shanghai office. We are seeing a pattern of trade relations occurring within the private and government sectors," said Lee.

Lee is confident that Diaz Reus will experience substantial growth in the areas of M&A, project financing, international arbitration and currency transfers.

As the bilateral trade volume between China and Brazil has grown tremendously in the past few years, simply having offices in both countries presents a good opportunity for the firm.