At the upcoming G20 Summit in Hangzhou, China, Brazilian officials will join several non-governmental agencies that focus on fiscal havens and tax evasion. Brazil also plans to expand cooperation in trade and services with China and schedule a seminar for Chinese investors during the summit.
At the G20 group Summit, Brazil is expected to push for greater efforts to combat tax avoidance on an international scale. Brazilian officials will join several non-governmental agencies in asking world leaders to look closer at this problem, the local media has reported. “We ask the world leaders to work together to create a global tax system that works in favor of the majority and not the minority,” says the proposal from Oxfam which will hand G20 a petition to strengthen focus on the fiscal havens.
Brazil and China plan to sign an agreement to expand cooperation in trade and services. The countries will sign a memorandum of understanding (MOU) for the China-Brazil fund to finance infrastructure projects in Brazil. Brazil, which is China's 10th largest trading partner, will also host a seminar in Shanghai for Chinese investors.
Leaders of the BRICS bloc of countries – namely Brazil, Russia, India, China, and South Africa – will hold their own meeting in Hangzhou, on the sidelines of the formal Summit, Xinhua reported.
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