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Newly appointed Trade Minister visits Brazil and
Argentina to champion British business.
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UK seeks agreements that make it easier and cheaper for
British businesses to export, helping to put more money in
people's pockets.
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Visit shows Trade Strategy in action, diversifying and
strengthening trade relations with two largest economies in
South America.
British businesses could benefit from cheaper and easier exports
to Argentina and Brazil – South America's two largest economies –
as Trade Minister visits the two countries today [Thursday 18
September] in pursuit of closer ties.
As part of the Trade Strategy's plan to focus on practical deals
that deliver faster benefits for businesses, Minister Bryant will
progress several targeted partnerships with Brazil including on
customs, good regulatory practices and export credit.
The agreements signed will make it easier and cheaper for British
businesses to sell to South America's biggest markets by working
to eliminate unnecessary red tape and increasing digital trade
which will benefit UK consumers.
Trade with Brazil has reached an all-time high of £12.3 billion
but given the size of our economies and alignment across priority
sectors such as clean energy, life sciences, and digital
transformation, there is still ample room for growth.
The newly appointed Trade Minister is also set to progress
discussions with his Brazilian counterpart Marcio Rosa on a
potential Conformity Assessment Mutual Recognition Agreement
(MRA).
An MRA would make exports in both directions easier and cheaper
by cutting red tape – allowing UK exporters to easily assess
whether their goods meet Brazil's federal regulations before
shipment and vice versa.
Customs checks could also be sped up for UK goods entering
Brazil, as negotiations continue on a Customs Mutual Assistance
Agreement (CMAA) which will see the UK and Brazil join forces to
combat customs offences and enable legitimate trade to flow more
freely.
The Minister will sign a Statement of Intent to begin
negotiations to mutually recognise Authorised Economic Operators,
which would mean faster processing and clearance of goods and
boosted security in supply chains.
Trade Minister said:
Brazil and Argentina are the two biggest economies in South
America, and closer trade ties will help us deliver the economic
growth set out in our Plan for Change.
My visit will help unblock some of the difficulties British
businesses face when exporting to these hugely important markets,
delivering practical benefits and unlocking new commercial
opportunities across the UK.
In São Paulo, Brazil's financial capital, Minister Bryant will
meet senior UK businesses to explore how targeted government
support can help overcome market access barriers and unlock
growth in Brazil's energy, health, finance, and manufacturing
sectors.
He will also engage with leading Latin American investors to
promote the UK as a destination for fund expansion and long-term
capital, aligned with the UK's Industrial Strategy.
These engagements form part of the launch of the UK's Trade and
Industrial Strategies across Latin America, with Brazil and
Argentina central to efforts to deepen bilateral ties and attract
investment into sectors where the UK leads globally.
Although bilateral trade has grown 10% in the 12 months to March
2025 to reach an all-time high of £2.2 billion, Argentina is only
the 66th largest trading partner for the UK. According to the
IMF, Argentina's economy is forecast to grow by 5.5% this year.
Both our countries share an ambition to grow our respective
economies and boosting trade between us could work towards this
goal.
Minister Bryant will hold the first major bilateral ministerial
meeting on trade since 2018 and host a business roundtable to
connect UK businesses with key decision-makers to secure new
export opportunities.
At a whisky reception, he will toast Argentina's recent
recognition of the Geographic Indication for Scotch whisky, the
first foreign GI they have ever granted. More legal protection -
coupled with Argentina's decision to lower tariffs from 35% to
20% - could open the door to more sales of the beloved spirit,
1.4 billion bottles of which were exported globally in 2024
according to the SWA.
Building on long‑standing UK–Argentina regulatory cooperation,
the visit will spotlight Argentina's move to Open Finance, which
draws on the UK's Open Banking model and now forms a core part of
Argentina's financial services framework.
The Minister will deliver opening remarks alongside the Chair of
Argentina's National Securities Commission, highlighting the
benefits these reforms bring for consumers and businesses in both
countries, including greater competition, innovation and choice.
