Brazilian officials discuss Malta's hub potential
High-ranking Brazilian government officials were in Malta last week on an initiative of the Ministry of Foreign Affairs to discuss bilateral proposals, including a double taxation agreement and the island's potential to serve as a regional hub for...
High-ranking Brazilian government officials were in Malta last week on an initiative of the Ministry of Foreign Affairs to discuss bilateral proposals, including a double taxation agreement and the island's potential to serve as a regional hub for Brazilian business in North Africa.
The 15-member delegation, mainly from the Ministry of Development, Industry and Commerce, aimed to foster relations with Maltese trade and investment institutions. The meetings focused on the potential of joint activities to support the internationalisation of small and medium enterprises.
In a meeting with the delegation, Finance Minister Tonio Fenech underlined the importance of Malta and Brazil working on reaching a double taxation agreement.
Discussions with Malta Enterprise chairman Alan Camilleri focused on the possibility of further exchange of delegations to explore business opportunities in both countries and neighbouring regions. The proposal of using Malta as a regional hub for Brazilian business in North Africa was also put forward. Malta could also serve as a good link for Brazilian companies interested in North Africa both for logistics and regular follow-up with clients.
The Brazilians' visit was led by Sergio Nunes de Souza and Cleiton dos Santos Araujo from the Secretariat of the Brazilian ministry as part of an EU-Brazil bilateral project (PAIIPME) coordinated by Bruno Frigero, a consultant from the Piedmont Agency for Investments, Export and Tourism.
The delegation met officials from the Chamber of Small and Medium Enterprises - GRTU, the Malta Chamber of Commerce, Enterprise and Industry, the Customs Department, and Malta Freeport. They also toured some local businesses.
Maltese entrepreneurs interested in doing business with Brazil were invited to an information seminar on trade and investment opportunities at Malta Enterprise.
With a population of 192 million, Brazil is one of the world's top five countries attracting foreign direct investment and is close to capturing 30 per cent of Latin America's entire FDI. In 2008, inward FDI grew by 99 per cent at $35 billion. This year, it is expected to receive $38 billion. Brazil accounts for three-fifths of the South American economy's industrial production. It is the 10th largest economy in the world.
The 15-member delegation, mainly from the Ministry of Development, Industry and Commerce, aimed to foster relations with Maltese trade and investment institutions. The meetings focused on the potential of joint activities to support the internationalisation of small and medium enterprises.
In a meeting with the delegation, Finance Minister Tonio Fenech underlined the importance of Malta and Brazil working on reaching a double taxation agreement.
Discussions with Malta Enterprise chairman Alan Camilleri focused on the possibility of further exchange of delegations to explore business opportunities in both countries and neighbouring regions. The proposal of using Malta as a regional hub for Brazilian business in North Africa was also put forward. Malta could also serve as a good link for Brazilian companies interested in North Africa both for logistics and regular follow-up with clients.
The Brazilians' visit was led by Sergio Nunes de Souza and Cleiton dos Santos Araujo from the Secretariat of the Brazilian ministry as part of an EU-Brazil bilateral project (PAIIPME) coordinated by Bruno Frigero, a consultant from the Piedmont Agency for Investments, Export and Tourism.
The delegation met officials from the Chamber of Small and Medium Enterprises - GRTU, the Malta Chamber of Commerce, Enterprise and Industry, the Customs Department, and Malta Freeport. They also toured some local businesses.
Maltese entrepreneurs interested in doing business with Brazil were invited to an information seminar on trade and investment opportunities at Malta Enterprise.
With a population of 192 million, Brazil is one of the world's top five countries attracting foreign direct investment and is close to capturing 30 per cent of Latin America's entire FDI. In 2008, inward FDI grew by 99 per cent at $35 billion. This year, it is expected to receive $38 billion. Brazil accounts for three-fifths of the South American economy's industrial production. It is the 10th largest economy in the world.