Government representatives from the United Kingdom said this week their government supports Brazil’s potential admission to the Organization for Economic Cooperation and Development (OECD), officials said in a bilateral economic and financial meeting.
In a meeting called the 3rd UK-Brazil Economic and Financial Dialogue, UK representatives said the trade bloc is “deepening cooperation with Brazil on financial services, green finance and tax, to maximize future trade opportunities.”
The bilateral conversations will also “build collaboration” on infrastructure and “further support Brazil’s application to join the OECD.”
Other topics discussed included “progressing discussions over a potential double taxation agreement between the UK and Brazil that facilitates trade, investment and helps prevent tax avoidance and evasion,” as well as “further enhancing our collaboration on infrastructure, including financing through both the G20 and the private sector, and through the UK-Brazil Infrastructure and capital markets.”
Despite not being an OECD member, Brazil has been OECD’s “most engaged” key partner and a source of “valuable policy experience,” according to an OECD report. Colombia has been recently admitted to the OECD, while Brazil is currently a member of G20 and Latin America’s largest economy.