Spanish Economy Minister Carlos Cuerpo said in Rome today that his country supports Brazil’s proposal to reach an agreement to create a global minimum tax to tax the super-rich.
“We are promoting and promoting the Brazilian initiative to establish a global minimum tax agreement on billionaires,” Cuerpo said at a press conference after a bilateral meeting in the Italian capital with Brazilian Finance Minister Fernando Haddad, where both discussed the main challenges Brazil faces in during his presidency of the G20.
According to the Spanish minister, the goal is to achieve “fairer growth” at the global level, and the G20 is the right structure to achieve this agreement on “fair taxation”, which “will be a step forward in terms of higher taxes ” great fortunes.”
Cuerpo also stressed that this potential agreement would be “an element of social cohesion that is fundamental” for “more sustainable growth to strengthen democracy” and would contribute to “the fight against inequality.”
At the meeting, the two ministers also discussed how to “strengthen the international financial architecture”, while they believed that there should be more multilateral power mechanisms, as well as addressing existing problems created by the debt crisis in developing countries.
The same topic will be discussed on Wednesday at a forum on the issue at the Vatican, which will also bring together experts and scientists.
Regarding the tax on the super rich, Haddad stressed that it is a “topic of great importance” that Brazil has managed to put on the global agenda, and assured that, regardless of whether it succeeds in introducing it or not, “it will make it something that has been talked about in future.”
The Brazilian minister mentioned the meeting with Cuerpo in a message published on the social network X, in which he highlighted the progress of negotiations on a trade agreement between the European Union and the Southern Common Market (MERCOSUR), a bloc founded by Argentina, Brazil, Paraguay. and Uruguay, stressing that “the rapprochement between Brazil and Spain, South America and the European Union is of mutual interest.”
“These are complementary economies that can create commercial and strategic partnerships in terms of the environment, the protection of democracy, taxation and social justice,” he added.
Regarding the negotiations on an agreement between the blocs, which could not advance due to internal resistance in both blocs, Cuerpo emphasized the “joint desire” of Spain and Brazil for this agreement to be implemented and assured that both countries intend to actively participate in such an initiative. to represent “the largest trade agreement in the world.”
“We recognize the importance that an agreement could have” between the European and Latin American regions, the Spanish minister said.
Brazil, which holds the G20 presidency this year, has invited Portugal, Angola, Egypt, the United Arab Emirates, Spain, Nigeria, Norway and Singapore to become G20 observers.
Portugal will attend more than 100 working group meetings at technical and ministerial level in five Brazilian regions, and the Brazilian Presidency will culminate with a summit of heads of state and government in Rio de Janeiro on 18 and 19 November.
Author: Lusa
Source: CM Jornal
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