The Minister of Industry and Commerce of Paraguay, Liz Cramer, and the Minister of Economy of Brazil, Paulo Guedes, signed this Thursday (05.12.2019) in the city of Bento Goncalves, Rio Grande do Sul, a Political Commitment to conclude the negotiations of the Automotive Agreement between both countries before the end of the year, reported the Paraguayan Foreign Ministry.
The agreement includes guidelines to be followed for the next technical meetings to be held, which will be aimed at providing a legal framework for the substantial issues already agreed upon.
Among these issues are They highlight immediate market access for exports of automotive products between both countries; preferential market access for goods manufactured in Paraguay under the maquila regime; and, preferential access for vehicles with alternative engines and for high-end vehicles.
The Paraguay – Brazil Automotive Agreement, the first in this area to be signed with Brazil, will have a series of elements that promote trade in the sector in both countries and, especially, strengthens productive complementarity that currently exists, in addition to promoting the development of one of the most important value chains in the region.
This future agreement between Paraguay and Brazil, added to the existing bilateral agreements on the matter, It favors the conditions for the adaptation of the sector in MERCOSUR, which will be a priority topic of work during the Pro Tempore Presidency of Paraguay 2020.
Paraguay and Brazil sign agreement to conclude negotiations on the automotive agreement this year.https://t.co/U2cnwR1XH8 pic.twitter.com/0ZsVnWCOVw
— Paraguayan Foreign Ministry (@mreparaguay) December 5, 2019
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