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Clegg targets doubling of Brazil exports on trade visit | Clegg targets doubling of Brazil exports on trade visit |
(about 7 hours later) | |
Nick Clegg has said the UK should aim to double the value of exports to Brazil as he seeks to develop trade links on a visit to the country. | Nick Clegg has said the UK should aim to double the value of exports to Brazil as he seeks to develop trade links on a visit to the country. |
He is heading a business delegation to Brazil, one of the world's fastest growing economies and UK's leading trade partner in Latin America. | He is heading a business delegation to Brazil, one of the world's fastest growing economies and UK's leading trade partner in Latin America. |
The deputy prime minister said there were opportunities for firms in sectors such as banking, science and energy. | The deputy prime minister said there were opportunities for firms in sectors such as banking, science and energy. |
UK exports to Brazil totalled £2.1bn in 2010 and bilateral trade £5.2bn. | UK exports to Brazil totalled £2.1bn in 2010 and bilateral trade £5.2bn. |
Mr Clegg is being accompanied on the two-day trip by Culture Secretary Jeremy Hunt, Universities Minister David Willetts and Trade and Investment Minister Lord Green as well as the heads of 20 leading firms. | Mr Clegg is being accompanied on the two-day trip by Culture Secretary Jeremy Hunt, Universities Minister David Willetts and Trade and Investment Minister Lord Green as well as the heads of 20 leading firms. |
'Natural partner' | |
Speaking in Sao Paulo, the deputy prime minister said Brazil was a "natural partner" for the UK in a number of areas - pointing out that UK exports to Brazil had risen by 29% over the past year. | |
"The UK government is committed to further strengthening our trade and investment links with Brazil," he said. | "The UK government is committed to further strengthening our trade and investment links with Brazil," he said. |
"As Brazil is set to be the fifth largest economy in the world by 2016, UK companies - with the help of UK Trade and Investment - should seize on every opportunity to prosper in Brazil." | "As Brazil is set to be the fifth largest economy in the world by 2016, UK companies - with the help of UK Trade and Investment - should seize on every opportunity to prosper in Brazil." |
Mr Clegg, who later held talks with senior Brazilian ministers, was due to make the trip earlier this year. | |
However, it was postponed at short notice after he was forced to remain in London to oversee the passage of legislation through Parliament. | |
Brazil's foreign ministry said that its bilateral trade relationship with the UK offered "great potential for co-operation, especially in the areas of education, science, technology and innovation". | |
Ministers have pledged to give greater priority to emerging economic powers in Latin America and Asia as they seek to make trade and inward investment central to their diplomatic focus. | Ministers have pledged to give greater priority to emerging economic powers in Latin America and Asia as they seek to make trade and inward investment central to their diplomatic focus. |
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