UK mission targets Brazil

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The UK Secretary of State for Business, Innovation and Skills, Vince Cable, visited Brazil in early September 2010 with a delegation representing some of the UK's largest companies. The purpose of his visit was to strengthen the relationship and business cooperation between the two countries, and maximise reciprocal opportunities for investment.

Cable believes Brazil is a high priority target as it has been growing with great economic strength and provides evidence of clear sustainability of the process. A greater focus on Brazil and other emerging economies, since the recent elections and change of government in May 2010, is evident within the UK. In becoming closer to emerging countries it is hoped that the economic recovery in The UK will speed up. " The UK will grow through [foreign] investment and trade...The centre of gravity of the world economy is moving, and Brazil is at the heart of that, " Cable said. During the visit, Cable attended a presentation by the Brazilian government which illustrated various business opportunities between the South American potential partner, particularly in energy and infrastructure given the upcoming 2014 FIFA World Cup, and 2016 Olympic Games in Rio de Janeiro. Miguel Jorge, the Brazilian Minister for Development, Industry and Foreign Trade, is hopeful that some infrastructure projects will interest UK investors. " There is interest from British businesses to participate in the architecture projects and construction of stadiums. Also, there is potential for port projects, airports and urban mobility. " It has to be stated that Brazil is also constantly increasing its investment abroad.

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