Swiss delegation visits Brazil to strengthen cooperation in business and innovation

Swiss Federal Councilor Guy Parmelin will lead a business and science delegation to Brazil from July 3 to 9, 2023, to strengthen bilateral ties in business, education, research, and innovation.

The delegation includes State Secretaries, Swiss companies’ representatives, and Swiss research organizations’ officials.

The first leg of the visit will be in São Paulo on July 4 and 5, where meetings will be held with the governor of São Paulo to discuss business and innovation cooperation.

Three memoranda of understanding will be signed, focusing on collaboration between Switzerland and São Paulo, cooperation between export promotion agencies, and innovation partnerships between Swissnex and SENAI.

In Brasília, meetings will take place with high-ranking Brazilian officials, including the Vice President and Minister of Economy, to discuss investment, innovation, infrastructure, and sustainability.

Additional meetings are scheduled with ministers of finance and science, technology, and innovation, along with interactions with research funding organizations.

The trip’s final leg will be in Rio de Janeiro, focusing on the EFTA-Mercosur free trade agreement and exploring cooperation prospects in the economic and scientific sectors.

The visit aims to strengthen economic and trade relations between Switzerland and Brazil, promote opportunities for Swiss companies in the Brazilian infrastructure sector, and discuss collaboration in education, research, and innovation.

Brazil is Switzerland’s most important economic partner in Latin America, with significant trade volume, Swiss investments, and a double taxation agreement.

The two countries have existing agreements and collaborative projects in research and innovation. Switzerland also supports environmental protection and sustainability initiatives in Brazil.

The visit aims to enhance cooperation between Switzerland and Brazil, foster business opportunities, and address important issues such as sustainability and innovation, focusing on the upcoming COP30 world climate conference in Brazil in 2025.

PRIORITY COUNTRY

Brazil is a priority country of the Federal Council’s foreign policy strategy. Bilateral relations are close and multifaceted.

Brazil is Switzerland’s largest trading partner in Latin America, and many Swiss companies have a base there.

Switzerland and Brazil have concluded agreements in double taxation, science, mutual legal assistance, justice, air transport, and social security.

In 2022 Switzerland imported goods worth US$ 1.6 billion from Brazil, mainly precious metals and agricultural produce.

Brazil is the most important destination for Swiss exports in Latin America: these amounted to around US$ 2.4 billion in 2022, mainly comprised of pharmaceutical and chemical products, machinery, and precision instruments.

At the end of 2021, the volume of Swiss direct investment in Brazil stood at US$ 7.7 billion, and Swiss companies employed about 65,000 people there.

The negotiations for the EFTA-Mercosur free trade agreement were concluded in substance in August 2019.

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