Swiss Economics Minister Couchepin on official visit to Brazil

Swiss Economics Minister Pascal Couchepin was to meet top government leaders in Brasilia on Monday as part of a week-long visit aimed at boosting economic relations between Switzerland and Brazil.

Swiss Economics Minister Pascal Couchepin was to meet top government leaders in Brasilia on Monday as part of a week-long visit aimed at boosting economic relations between Switzerland and Brazil.

Couchepin was expected to hold talks with Brazilian President Fernando Henrique Cardoso, Finance Minister Pedro Sampaio Malan as well as Trade, Industry and Development Minister Celso Lafer.

The leaders were expected to address such issues as a possible double taxation agreement, relations between the southern American Mercosur trade block, which includes Brazil, and the European Free Trade Association, of which Switzerland is a member.

Trade and economic cooperation at the level of the World Trade Organisation — the world’s top trade watchdog based in Geneva — will also be on the agenda.

Brazil is the third major overseas investment market for Switzerland behind the United States and Canada and Swiss-based multinationals have maintained production facilities in Brazil for decades.

Last year, Brazil mostly bought chemical and pharmaceutical products, production facilities and watches from Switzerland. Forty-seven percent of imports from Brazil were agricultural products.

Switzerland has about $6 billion in direct investments in Brazilian markets, making Switzerland the fifth largest investor behind the United States, Germany, Britain and Japan.

Couchepin’s delegation includes top Swiss business leaders representing the Swiss Federation of Commerce and Industry (Vorort), Credit Suisse and the SAir group, which includes Switzerland’s national airline Swissair.



Sources: APD, sda-ats