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Reviewed 8 November 2011

Business Secretary Vince Cable cements business ties with Brazil

The Business Secretary, Dr Vince Cable attended the sixth annual Joint Economic Trade Committee (JETCO) in the City of London today. The JETCO reinforces the UK's commitment to develop closer bilateral commercial links between British companies and Brazil.

Together with Minister Fernando Pimentel, Brazil's Minister of Development, Industry and Foreign Trade the high level meeting was an opportunity for both countries to discuss the progress made since the launch of the UK/Brazil CEO's forum last year and the working groups supporting the bilateral trade and investment relationship.

During the day Dr Vince Cable and Minister Fernando Pimentel signed a Memorandum of Understanding that underlined the UK and Brazilian commitment of working together to ensure that the intellectual property system promotes innovation and growth in both countries. The MoU will make it easier and cheaper for UK businesses to manage their intellectual property in Brazil.

The Intellectual Property Office (IPO) is continuing to build links with countries around the world. This MoU follows similar agreements that have been signed with Nigeria and Mexico in 2011.

The accompanying high level business delegations also discussed the successful partnership working between the UK and Brazil on sporting matters. The next JETCO will be after the Olympic baton has been passed from London to Rio de Janeiro for the 2016 Games for which both countries have committed to delivering successful and sustainable Games.

The JETCO also covered infrastructure and energy; healthcare and innovation and competiveness.

Notes to editors

  • Brazil has immense potential as a trade and investment partner, with huge opportunities for UK companies across a wide rage of sectors. UKTI has identified the following as priority areas:- Advanced engineering; Healthcare; Biotechnology & Pharmaceuticals: Agri-technology and Global Sporting Events.
  • Lord Jonathan Marland, Chair of the UK Business Ambassadors' Network will lead a selection of the UK's finest creative firms to Brazil, 7 - 11 November, to take part in their annual design festival. He will be joined on this UKTI design mission by three other Business Ambassadors; Sir John Sorrell, founder of the London Design Festival, Brent Hoberman, Executive Chairman of mydeco.com and Chairman of made.com, and Tamara Mellon, founder and Chief Creative Officer, Jimmy Choo.
  • UK Trade & Investment (UKTI) External Link is the government department that helps UK-based companies succeed in the global economy. We also help overseas companies bring their high quality investment to the UK's economy - acknowledged as Europe's best place from which to succeed in global business. UKTI offers expertise and contacts through its extensive network of specialists in the UK, and in British embassies and other diplomatic offices around the world. We provide companies with the tools they require to be competitive on the world stage. For more information, visit the UKTI External Link website or telephone +44 (0)207 215 8000. For latest press releases, visit the online newsroom External Link.
  • The Intellectual Property Office (IPO) is within the Department for Business, Innovation, and Skills (BIS) and is responsible for the national framework of Intellectual Property rights, comprising patents, designs, trade marks and copyright.
  • Its role is to help manage an IP system that encourages innovation and creativity, balances the needs of consumers and users, promotes strong and competitive markets and is the foundation of the knowledge-based economy.
  • It operates in a national and an international environment and its work is governed by national and international law, including various international treaties relating to Intellectual Property (IP) to which the United Kingdom is a party.
  • For further information, please contact Dan Palmer on 0207 215 5303.

Date of release: 8 November 2011