Cable ushers in 'priority' trade

Robust trade links will be at the “heart” of the UK’s new relationship with Brazil, Business Secretary Vince Cable has declared.

Speaking after a meeting with his Brazilian counterpart Miguel Jorge, Dr Cable announced a range of initiatives to support economic cooperation between the two countries.

The package includes the first steps towards signing a new tax agreement - one avoiding the double taxation of international aircrew that currently exists.

As well as paying tribute to established business links, Dr Cable used the trip, the first since the Government was elected in May, to announce closer cooperation in infrastructure and energy, major sporting events, innovation and competitiveness, healthcare and capacity building.

He claimed meeting with Brazil’s leaders had been a “priority” for some time. 

“It is clear to me that there is great untapped potential in our business relationship, and the UK can play an important part as increasing numbers of Brazilian companies seek to internationalise,” he explained.

“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.

“Businesspeople 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.”

Brazil, the world’s eighth largest economy, accounts for over half of South America’s total GDP. Its exports to the UK are worth around £1.7 billion– more than double the amount recorded in 2004.

Dr Cable will use the remainder of the week to meet with business leaders in the country. 

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