The President of Brazil and the Prime Minister of Portugal want an early trade agreement between the European Union and MERCOSUR and a revision of the fiscal framework for direct investment at the bilateral level to avoid double taxation.
These positions are contained in the Final Declaration of the XIII Portuguese-Brazilian Summit taking place at the Centro Cultural de Belém in Lisbon, a document released ahead of the final press conference of Portuguese Prime Minister António Costa and Brazilian President Lula da Silva.
“The heads of the two governments agreed on the relevance of trade relations for their countries and reaffirmed their mutual commitment to the development of initiatives and joint actions aimed at strengthening and diversifying bilateral trade, among which the holding of a bilateral economic forum stands out. … on the sidelines of the summit, emphasizing the strategic importance of an early conclusion of an agreement between the European Union and MERCOSUR,” the final communiqué reads.
After hinting at the need to reorganize and strengthen value chains in terms of investment, the two executives noted the “growing consolidation of a new dynamic that puts Brazil in first place among the countries with the largest amount of Portuguese investment abroad, and in the opposite direction, Brazil is today the second in largest direct investor in Portugal outside the European Union”.
Portugal and Brazil “reaffirmed their interest in increasing bilateral investment” and identified “infrastructure, energy, new technologies, healthcare, space, defense, seas and oceans” as priority areas for deepening economic and commercial relations.
“They recognized the importance of a favorable tax base for the development of trade and investment flows between the two countries, agreeing to establish contacts at a technical level in order to update the specified base,” the report says.
In this context, they expressed the hope that the negotiations on a protocol amending the double taxation convention “can be completed as soon as possible, thus contributing to the creation of more favorable conditions for the promotion of mutual direct investment and the fight against fraud and evasion. from taxes.”
Author: Portuguese
Source: CM Jornal
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