During the state visit of President Lula to the UK in March 2006, the UK Brazil Joint Economic & Trade Committee (JETCO) was established with the objective of promoting and developing trade and constructively engaging bilaterally on identified barriers to trade, in order to improve the environment for business. JETCO Meetings alternate between UK and Brazil and this year will be in London on 16th September.

Now into it’s fourth year, JETCO continues to strengthen close cooperation between UKTI and MDIC and to keep identifying areas of cooperation and sharing of expertise.

Led by the Trade Ministers of both countries, in partnership with the private and public sector on both sides, JETCO aims at providing a forum for business to share their concerns with both the Governments, responsible for developing the Committee’s agenda.  Annual ministerial meetings hold activities within specific workgroups assembled to keep working throughout the year.

JETCO specific workgroups are a merge of private and/or public sector representatives and its main areas of activities include Financial Services, Accreditation, Metrology, Intellectual Property, Trade & Investment, Encouraging Innovation, Business facilitation, just to name a few.

The UK’s activities so far have been rather successful. Highlights include:

• General - Under the JETCO umbrella the Embassy in Brasilia has continued with its programme of FCO-funded projects to promote economic governance in Brazil. For the following year, projects on Regulatory Impact Analysis and Business Facilitation are being considered.
• Innovation- Linking with JETCO and the UK Brazil Year of Science, we can underline the signing of a Memorandum of Understanding (MoU) between Rothamsted Research and IAPAR (Paraná State Agronomy Institute); the signing of an MoU between Rothamsted Research and Embrapa (Brazilian Agricultural Research Company), which has led to the establishment of an Embrapa Labex in the UK, operational in 2009; and the signing of an MoU between Royal Society of Chemistry and Brazilian Society of Chemistry (SBQ).

Under the innovation workgroup, it could be underlined:

• a bioenergy mission led by the UK Biological and Biotechnological Sciences Research Council took place and included workshops in Sao Paulo, Brasilia and Rio de Janeiro;
  
• the signing of an MoU between the University of Sao Paulo and the University of Cambridge, providing the basis for joint research in human genomes and neuro-degenerative disease. This was followed by a comprehensive visit of key Brazilian scientists to UK laboratories focussed on stem cells research.  Agreements on training and technology transfer are currently being discussed, whilst an important agreement on technology transfer in vaccines involving GSK and Fiocruz has been finalised;
• the signing of an MoU between Diamond Light Source and Brazilian Synchrotron Light Laboratory (LNLS);
• an agreement between the innovation agency of the University of Sao Paulo (USP) and the innovation agency of the University of Oxford on innovation management, training and cross-licensing.  Such agreement has led USP to market and license its own technologies via Oxford. 
  

Other agreements involving more innovation agencies in both countries are currently being negotiated.  Such agreements will set the grounds for (I) the marketing and licensing of UK technology in Latin America through Brazilian institutions, (ii) the marketing and licensing of Brazilian technologies in Europe and the World through UK institutions, (iii) and the exchange in best practise and collaboration in innovation processes.  

• Metrology / Accreditation  - The UK Accreditation Service has taken forward their MoU with their Brazilian counterparts at INMETRO. The exchange of reports between INMETRO and UKAS decreases the accreditation time as both accreditation bodies can benefit from the work accomplished by the other.
• IPR  - Under JETCO, the UK IPO will send an expert to assist INPI in the implementation of their patent IT systems.  

The success of JETCO will continue to depend on the level of business interest in developing UK-Brazil relations, raising issues and providing solutions to problems.  Key to the continuing development and relevance of JETCO will be the ongoing, increased and vital participation of the private sector.