UK government targets closer trade links with brazil

The recent visit of British Deputy Prime Minister Nick Clegg to Brazil on a trade mission has highlighted the importance of closer trade links between the two countries as Brazil develops into a global economic powerhouse. Mr. Clegg underlined the growing importance of UK investments in Brazil and said he wants UK exports to the country to double by 2015.

In his first official visit to the country, Mr. Clegg spoke of Brazil as a ‘natural partner’ for the UK and emphasised the many Brazilian investment opportunities open to British companies. "As Brazil is set to become the fifth largest economy in the world, UK companies should seize on every opportunity to prosper in Brazil," he said.

UK exports currently run to £2.1 billion a year and the government is keen for British investment in Brazil to reach £4 billion over the next four years. During the visit, deals worth £2.5 billion were announced and further Brazilian investment opportunities earmarked, moves that were welcomed by foreign companies already in Brazil such as Obelisk International, who have four Minha Casa Minha Vida projects in the Rio Grande do Norte region.

Thus far, British companies have been a little slow to recognize the potential of Brazil and other European nations have made bolder and more significant Brazilian investments. Martin Raven, former UK consul General in Sao Paulo, said that although it can be difficult for companies to invest in Brazil, recent examples from Lloyds of London and Experian have created successful ventures in Brazil. However, he also said that Germany, France and Italy remain ahead in investment in Brazil and have established a solid presence.

Source: BuyAssociation.co.uk