BRASILIA, Aug. 21 (Xinhua) -- Brazil and Britain on Wednesday signed a memorandum of understanding in Brasilia to boost trade between the two countries, Brazil's Economy Ministry said.
According to the ministry, the deal will make it easier for the companies to export by simplifying such procedures as registering intellectual property rights, with some measures set to take effect in September.
Britain's Cross-Government Prosperity Fund, created to fight poverty through inclusive growth and development, aims to invest some 20 million pounds (24.2 million U.S. dollars) to help small- and medium-size Brazilian firms join global value chains.
The fund has a budget of 1.2 billion pounds (1.454 billion dollars) to invest in developing countries through March 2023.
Another 80 million pounds (96.9 million dollars) from the fund will be used to promote various sectors in Brazil, including trade, energy, smart cities, green finance and healthcare.