BREXIT BOOST: UK to deepen trade with Brazil as Hammond paves way for 'new ...

Philip Hammond and Brazil's finance ministerREUTERS/GETTYPhilip Hammond met with Brazil's finance minister Henrique Meirelles to discuss post-Brexit links

The Chancellor secured new partnerships with Brazilian firms after he met with investors and led talks in the nation’s capital Brasília yesterday.

Mr Hammond said: "Today's [Monday] dialogue has created exciting new opportunities for partnership between the UK and Brazil, Latin America's largest economy.

"I am very pleased to be accompanied by executives from some great British companies with world-leading expertise, to help facilitate deeper economic and trade links between our two countries."

Following the talks the Treasury announced support for trade via UK Export Finance is set to double to up to £3billion.

Philip Hammond in BrazilREUTERSMr Hammond said that the talks created 'exciting new opportunities for partnership' with Brazil

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It was also announced that Brazil’s Granito Group will base the headquarters of its new global investment bank - Granito & Capital - in London.

Meanwhile, UK-based GP Laboratories plan to export £11million of pharmaceuticals to Brazil over the next five years.

The Chancellor also declared that Brexit “will not be delayed or postponed” as he added that UK “will leave the union” on March 29, 2019 during a press conference in Brazil.

He continued: “But that trading relationship will not be based on membership of the European Union, it will be based on treaty - just like a future trading relationship with Brazil will be based on a treaty.

Tue, July 25, 2017 Britain starts informal trade talks all over the world
Britain's Foreign Secretary Boris Johnson holds a tuatara lizard during his visit to the Zealandia wildlife santuary in Wellington

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