UK sets sights on closer ties with Argentina and Brazil
Source: gov.uk (2025-09-18)

UK sets sights on closer trade ties with biggest economies in South America

Newly appointed Trade Minister Chris Bryant visits Brazil and Argentina to champion British business.

UK seeks agreements that make it easier and cheaper for British businesses to export, helping to put more money in people’s pockets.

Visit shows Trade Strategy in action, diversifying and strengthening trade relations with two largest economies in South America.

British businesses could benefit from cheaper and easier exports to Argentina and Brazil – South America’s two largest economies – as Trade Minister visits the two countries today [Thursday 18 September] in pursuit of closer ties.

As part of the Trade Strategy’s plan to focus on practical deals that deliver faster benefits for businesses, Minister Bryant will progress several targeted partnerships with Brazil including on customs, good regulatory practices and export credit.

The agreements signed will make it easier and cheaper for British businesses to sell to South America’s biggest markets by working to eliminate unnecessary red tape and increasing digital trade which will benefit UK consumers.

Trade with Brazil has reached an all-time high of £12.3 billion but given the size of our economies and alignment across priority sectors such as clean energy, life sciences, and digital transformation, there is still ample room for growth.

The newly appointed Trade Minister is also set to progress discussions with his Brazilian counterpart Marcio Rosa on a potential Conformity Assessment Mutual Recognition Agreement (MRA).

An MRA would make exports in both directions easier and cheaper by cutting red tape – allowing UK exporters to easily assess whether their goods meet Brazil’s federal regulations before shipment and vice versa.

Customs checks could also be sped up for UK goods entering Brazil, as negotiations continue on a Customs Mutual Assistance Agreement (CMAA) which will see the UK and Brazil join forces to combat customs offences and enable legitimate trade to flow more freely.

The Minister will sign a Statement of Intent to begin negotiations to mutually recognise Authorised Economic Operators, which would mean faster processing and clearance of goods and boosted security in supply chains.

Trade Minister Chris Bryant said:

Brazil and Argentina are the two biggest economies in South America, and closer trade ties will help us deliver the economic growth set out in our Plan for Change.

My visit will help unblock some of the difficulties British businesses face when exporting to these hugely important markets, delivering practical benefits and unlocking new commercial opportunities across the UK.

In São Paulo, Brazil’s financial capital, Minister Bryant will meet senior UK businesses to explore how targeted government support can help overcome market access barriers and unlock growth in Brazil’s energy, health, finance, and manufacturing sectors.

He will also engage with leading Latin American investors to promote the UK as a destination for fund expansion and long-term capital, aligned with the UK’s Industrial Strategy.

These engagements form part of the launch of the UK’s Trade and Industrial Strategies across Latin America, with Brazil and Argentina central to efforts to deepen bilateral ties and attract investment into sectors where the UK leads globally.

Although bilateral trade has grown 10% in the 12 months to March 2025 to reach an all-time high of £2.2 billion, Argentina is only the 66th largest trading partner for the UK. According to the IMF, Argentina’s economy is forecast to grow by 5.5% this year.

Both our countries share an ambition to grow our respective economies and boosting trade between us could work towards this goal.

Minister Bryant will hold the first major bilateral ministerial meeting on trade since 2018 and host a business roundtable to connect UK businesses with key decision-makers to secure new export opportunities.

At a whisky reception, he will toast Argentina’s recent recognition of the Geographic Indication for Scotch whisky, the first foreign GI they have ever granted. More legal protection - coupled with Argentina’s decision to lower tariffs from 35% to 20% - could open the door to more sales of the beloved spirit, 1.4 billion bottles of which were exported globally in 2024 according to the SWA.

Building on long‑standing UK–Argentina regulatory cooperation, the visit will spotlight Argentina’s move to Open Finance, which draws on the UK’s Open Banking model and now forms a core part of Argentina’s financial services framework.

The Minister will deliver opening remarks alongside the Chair of Argentina’s National Securities Commission, highlighting the benefits these reforms bring for consumers and businesses in both countries, including greater competition, innovation and choice.