Britain is committed to bringing about a step change in the way business and trade is conducted with Brazil, UK Secretary of State for Business Vince Cable has pledged during his first visit to the country.
Announcing new measures to strengthen business cooperation between the two countries he is heading a high-powered business delegation meeting with politicians and business leaders.
The delegation includes company representatives from Anglo American, Diageo, BAE, HSBC, Rio Tinto, BG Group, Standard Chartered, Rolls Royce, GlaxoSmithKline and the infrastructure company Halcrow, which is advising on the high-speed rail link between Rio de Janeiro and São Paulo.
Together with Miguel Jorge, Brazil’s Minister for Development, Industry and Foreign Trade, Cable announced the creation of a Brazil-UK CEO Forum. The Forum will provide both governments with practical advice on the issues and opportunities to be addressed as part of an enhanced bilateral relationship.
‘Together the governments of the UK and Brazil are bringing about a step change in the way we work, to reinvigorate and deepen our strategic partnership. Business people from both countries must be at the heart of the bilateral relationship, bringing their experience to the table as we consider how it can be enhanced to benefit both sides. The changes that we are making reflect our commitment to this,’ said Cable.
The delegation will look at opportunities in a number of sectors including infrastructure and energy, healthcare, innovation, competitiveness, creative industries, training and co-operation around major sports events like the Olympic and Paralympic Games and the World Cup.
The governments also revealed their intention to sign an agreement to avoid the double taxation of international aircrews, an important precursor to a long-term goal of a full double taxation agreement between the UK and Brazil.
It is the first ministerial visit between the countries since the UK elections in May with the delegation meeting business leaders and government representatives in Sao Paulo, Brasilia and Rio de Janeiro.
UK companies are already leaders in many areas of real importance to the Brazilian economy and many already operate here. In education Pearson provides educational services to Brazil’s growing workforce, in energy Shell and Cosan have just signed an agreement to supply biofuel, while BG is the largest foreign investor in oil and gas in Brazil.
In advanced engineering, Rolls Royce and GKN are active in Brazil and in biotechnology and pharmaceuticals GlaxoSmithkline is active in Brazil.
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