Brazil's Economy Minister Paulo Guedes said on Wednesday (20.11.2019) that the process of opening up the economy will be "gradual" and that the government will not allow foreign industry to enter the country suddenly.
In a speech in Brasilia, the head of the Brazilian economy said that Nobody should "Being scared by these trade agreements we are conducting. This is a gradual process"He said.
«We will not release foreign industry on top of national industry before simplifying taxes. We are reducing the interest rate. It is a gradual opening, it is irreversible, but it will be gradual and it will be done on the back of cheap energy, cheaper logistics costs..
Guedes stated that The Brazilian government is working to reduce taxes and logistics costs to reindustrialize the country, since according to him, "Brazilian industry suffered blows for two, three, four decades, and lost competitiveness."
This year, Brazil and its Mercosur partners reached free trade agreements with the European Union and Efta (a bloc made up of Switzerland, Norway, Iceland and Liechtenstein), and are currently negotiating other trade agreements with the Republic of Korea, Canada and Singapore.
In addition to these agreements, the Brazilian government is studying measures to modernise tariffs in Mercosur, an issue that will be discussed at the group's next meeting, which will be held in December in Bento Gonçalves (southern Brazil).
Source: Xinhua
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
