MercoPress, en Español

Montevideo, October 5th 2022 - 14:31 UTC

 

 

Brazil, US to deepen bilateral trade

Wednesday, August 31st 2022 - 09:42 UTC
Full article 1 comment
The Trade Dialogue sessions between Brazil and the United States were created in 2006 and are the main mechanism for bilateral cooperation The Trade Dialogue sessions between Brazil and the United States were created in 2006 and are the main mechanism for bilateral cooperation

Brazil and the United States have taken yet another step toward reducing non-tariff barriers in bilateral trade, it was reported Tuesday after a statement was released Tuesday in Brasilia.

However, the Brazilian Economy Ministry has announced on its website that all communications are limited as per the country's electoral rules so that they cannot be construed as campaign messages on behalf of the sitting government.

In these circumstances, the document highlights the main points issues addressed during a trade dialogue session held last month in Washington, DC between Brazil's Foreign Trade Secretariat and the Undersecretary of International Trade of the US Department of Commerce, which were included in a joint statement following the 20th Plenary of the U.S.-Brazil Commercial Dialogue, noting the numerous accomplishments since 2006.

“The most important result of the long-lasting Commercial Dialogue is the strong partnership that has developed between the U.S. Department of Commerce and the Brazilian Ministry of Economy. This partnership empowers staffs at both Ministries to work together towards a common goal – to grow bilateral trade and investment to the benefit of both of our economies,” the statement read.

”The U.S.-Brazil Protocol on Trade Rules and Transparency – Technical discussions under the Commercial Dialogue on trade facilitation and good regulatory practices laid the foundation for the successful completion of the ATEC Protocol featuring Annexes on Good Regulatory Practices (GRP) and Trade Facilitation,“ it went on.

”Standards & Metrology – One of the earliest successes of the Commercial Dialogue was the development of certified reference materials for biodiesel and bioethanol as a result of the partnership between the U.S. National Institute of Standards & Technology (NIST) and Brazil’s National Institute of Metrology, Quality and Technology (INMETRO). Both institutions have developed a close collaborative relationship that has enabled numerous scientific exchanges, led to the development of sectoral industry regulatory guides for each market, and supports ongoing information sharing in order to strengthen the National Quality Infrastructure System in each country. The overall goal of this collaboration is to support industry by avoiding technical barriers to trade between our countries, including throughout INMETRO’s recent regulatory framework reform,“ it added.

”The U.S. Patent & Trademark Office and Brazil’s National Institute of Industrial Property (INPI) have worked together to reduce the time needed to obtain patent and trademark protection. Key accomplishments in this area include the adoption and continuing improvement of the Patent Prosecution Highway and Brazil’s accession to the Protocol Relating to the Madrid Agreement Concerning the International Registration of Marks (Madrid Protocol.),“ the workgroup pointed out.

”... Dialogue continues to evolve and grow to reflect 21st century trade issues. The Trade in the Digital Economy Working Group shares and promotes best practices on topics shaping the digital economy. The working group is facilitating bilateral exchanges to create conditions that foster predictability without hindering innovation and competition,“ the joint communiqué stressed.

Both parties also agreed ”to work together to Prevent, Reduce and Remove non-tariff and unnecessary technical barriers to trade with the goal of growing bilateral trade and investment“ and ”to support Brazil’s efforts to accede to the Organization for Economic Cooperation and Development” (OECD), among other issues.

Regarding climate actions, “working groups will continue to incorporate climate into their work streams,” to discuss “trade in remanufactured goods; green logistics; the nexus between labor and environment; and promoting trade in clean technologies.”

The two countries “will also incorporate the exchange of experiences and best practices related to the promotion of responsible business conduct with a focus on decent work, along with trade adjustment assistance programs and workforce development for digital workers,” the statement highlighted.

The US-Brazil Protocol on Trade Rules and Transparency will ”feature exchanges on issues such as digitization of trade procedures, processing small packages, the role of consultative committees and engaging diverse parties in consultations, regulatory agendas, and addressing the burden of regulation, including on small and medium-sized enterprises (SMEs).”

The Trade Dialogue sessions between Brazil and the United States were created in 2006 and are the main mechanism for bilateral cooperation between the two countries to encourage the flow of trade and mutual investments by preventing the reduction and elimination of non-tariff barriers. The United States is Brazil's second-largest trading partner, behind China. In 2021, bilateral trade between the two countries was a record US$70.5 billion, with Brazil's exports worth $31.1 billion, a record high.

Categories: Economy, Brazil, United States.

Top Comments

Disclaimer & comment rules
Read all comments

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!