Member Article

Trade deals forged by PM Brazilian trade mission

The Prime Minister’s trade mission to Brazil this week has led to the confirmation of several deals with UK industries.

David Cameron, PM, visited Sao Paulo and Rio de Janeiro with the Minister for Universities and Science, David Willets, Trade and Investment Minister Lord Green, and Minister for Latin America Hugo Swire.

The Ministers were joined by the director-general of CBI, John Cridland, along with 58 companies involved in energy, education and science, and a global body of sports representatives.

Deals announced today include a $120m agreement from GE Energy’s Power Conversion firm to supply electricity and equipment for a Brazilian salt drilling scheme, and a partnership between EM&I and South American company Odebrecht Oil & Gas, to create £20m worth of contracts.

London-based design business Arup, security company General Dynamics UK, and Natures Purest Brazil also announced deals as a result of the trade mission.

The Prime Minister met with the Brazilian President Dilma Rousseff during the two day visit, and also opened a new JCB factory worth $100m in Sorocaba, Sao Paulo.

Goldman Sachs predicts that Brazil will become the fifth largest economy by 2050, ahead of India and Russia.

UK businesses are aiming to double exports to the rapidly growing economy to £4bn each year by 2015, after exports grew 9% last year.

A Memorandum of Understanding was also signed between the two countries to forge stronger relationships in maritime systems.

Industrial and technological partnerships will support the trade links made through the Government’s trip to Brazil.

The Royal Navy has also been involved as Brazil and the UK pursue a collaborative relationship in maritime industries.

This was posted in Bdaily's Members' News section by Miranda Dobson .