MercoPress. South Atlantic News Agency

Osborne launches with Mantega Brazil/UK 'economic and financial dialogue'

Besides Mantega the chancellor also met central bank president Tombini and will visit the Sao Paulo stock exchange on Wednesday

Finance minister Guido Mantega and Chancellor of the Exchequer George Osborne announced on Tuesday in Sao Paulo the launching of the Brazil/UK Economic and Financial Dialogue to strengthen bilateral trade and cooperation, and investment in infrastrucutre, according to a joint release.

 The two officials met privatley at a Finance Ministry office in Sao Paulo with no access to media.

According to the release the announced dialogue will promote a continuous contact between the two governments, with regular meetings of ministers which will guarantee the strengthening of trade opportunities, sharing experiences and facilitating investments in infrastructure, between two countries with historic links, but not completelly explored in recent years. “Both economies will benefit from the joint work”.

Chancellor Osborne started on Monday in Rio do Janeiro his three-day business and trade promotion visit to Brazil.

Besides meeting with Mantega with whom they also addressed the “current international situation” and the “performance of the Brazilian and UK economies in that context”, Osborne also visited in Sao Paulo, Alexandre Tombini, central bank president.

A release from the central bank said that Osborne and Tombini “discussed world economic prospects both for mature economies as well as for emerging countries, besides addressing the Brazilian and UK macroeconomic scenarios”.

On Wednesday Osborne is scheduled to visit the Sao Paulo Stock Exchange (BM&Bovespa) and will launch at the University of Sao Paulo the Newton Fund, a bilateral initiative for scientific and technologic cooperation.

Chancellor Osborne on Monday in Rio do Janeiro also had time to meet representatives from the celebrated UK-run charity 'Fight for Peace Academy', which given its success has been replicated in the UK with a “Fight for Peace Academy” in East London.

Founded in Rio by Briton Luke Dowdney MBE, Fight for Peace uses martial arts combined with education to help young people in communities that suffer from crime and violence.

In Rio Osborne was shown the headquarters of the project as well as the activities offered following a short tour through the streets of the local (favela) Complexo da Maré community with children and young people from the project.

He also attended training sessions and presentations of boxing, capoeira, judo, taekwondo and jiu-jitsu and met pupils from Fight for Peace’s education classes.

In 2013 Fight for Peace supported 2,500 young people directly, and 90,000 young people indirectly, through its network of partners operating in 22 different countries around the world. By 2016, FFP will be working in 50 countries.