Brazil And Canada Ink Key Deals

by Mike Godfrey, Tax-News.com, Washington

09 August 2011

Brazilian and Canadian politicians have discussed the strengthening of trade and investment between the two countries, signing a series of important agreements.

Canadian Prime Minister Stephen Harper met with Brazilian President Dilma Rousseff in Brazil on August 8, with the two leaders committing to work together on common areas of interest.

Among the deals inked were a bilateral Air Transport Agreement, under which it was agreed to make the new air rights available to airlines immediately, pending the formal ratification of the agreement. The agreement is expected to benefit both travellers and businesses, providing larger choice in terms of airline services and destinations, along with lower prices.

An Agreement on Social Security was also signed, which will coordinate pension benefits between both countries and includes a number of measures to improve access to benefits for Canadians and result in savings for Canadian companies operating in Brazil.

In addition, the two leaders announced the launch of the Canada-Brazil Strategic Partnership Dialogue, a new initiative that will serve as a forum between Canadian and Brazilian Ministers of Foreign Affairs. The Dialogue will ensure both countries deepen relations and develop new partnerships on key bilateral, regional and global issues. A CEO Forum is also to be launched, providing a platform for business leaders to expand commercial opportunities.

Harper said of the developments: “Brazil is a major global economic player and a key priority market for Canada. These agreements will benefit both countries by promoting greater two-way flow of people, goods and services, enhancing our competitiveness and further strengthening our partnership in key areas of shared interest.”

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