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Could investment in Brazil grow after Clegg's visit to country?

Date added: 21st June, 2011 at 10:09
(view all articles from June, 2011)

Categories: Economy

Deputy prime minister Nick Clegg travelled to Sao Paulo today (June 21st), hoping to improve trade ties with the country, which may be of interest to those considering investment in Brazil.

The Financial Times reported that the politician admitted the bond between Brazil and Britain is not as strong as it could be, saying that trade agreements could improve this situation.

Mr Clegg also plans to speak to president Dilma Rousseff about why Brazil turned away royal navy vessel HMS Clyde from docking in Rio de Janeiro recently.

"Our ties are not new, but they have been allowed to slacken," the politician will state when he reaches the nation.

"The first part of the answer is trade. If that sounds hard headed, that's because it is. Trade means jobs," he is expected to add.

Mr Clegg's party of 45 delegates aims to increase British exports to the nation to £4 billion by 2015.

This visit follows one by business secretary Dr Vince Cable, who spent four days in Brasilia, Rio de Janeiro and Sao Paulo last year in the hope of sharing British expertise about preparing for the Olympic Games.

Culture minister Jeremy Hunt, accompanying Mr Clegg on his trip, will carry a similar message to the country over the next two days.

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