Brazil’s president uses Davos speech to appeal to foreign investors

Brazilian right-wing president, Jair Bolsonaro used his Davos speech to hype his new approach to Brazil’s economy.

Brazil’s president uses Davos speech to appeal to foreign investors Source: Bloomberg

Brazilian right-wing president, Jair Bolsonaro used his Davos speech to hype his government's new approach to strengthen Brazil’s economy.

Bolsonaro told a summit of CEOs in Davos that the Brazilian government is planning to make the country one of the top 50 business hotspots. Bolsonaro said he would work to reduce and simplify taxes in Brazil and open the economy.

‘We enjoy the credibility to carry out reforms that we need, and the world expects of us,’ Bolsonaro said in his Davos speech.

'We will reduce the tax burden, simplify tax rules and make life easier for those who want to produce, do business, invest and create jobs,' he said.

Bolsonaro is the first of the world’s economic leaders to speak at the World Economic Forum in Davos, Switzerland this year.

The right-wing president was elected in October on an upsurge of conservative nationalism and anti-leftist sentiment.

Bolsonaro has since promised to turn things around for Brazil after the country fell into a painful economic downturn. He vowed to restore macroeconomic stability with fiscal disciple.

UK trade minister to discuss replicating EU agreements

One of the next leaders to take the stage in Davos is Uk British trade minister, Liam Fox, who is expected to use the World Economic Forum to discuss rolling over existing EU trade agreements after Brittan leaves the bloc.

‘I will be meeting with my counterparts in key countries as we look to finalise continuity trade agreements to ensure our exporters do not face disruption as we prepare to leave to the EU,’ Fox said in a statement.

He will be meeting with ministers from South Korea, Hong Kong, Canada, Colombia and Israel.

As the clock ticks for the UK, a growing chance of a 'no deal' exit is looking likely, as the UK is due to leave the EU on 29 March.

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