The European Union has formally requested that the exchange of tariff proposals with Mercosur for the creation of a cooperation and free trade zone, originally scheduled for next week, be delayed until 2014. The message was received by the Brazilian delegation at the recent WTO Bali discussions.
Argentina will from next week open the doors for Brazilian imports held up on the border between the two nations, including footwear and motor vehicles, according to Brazilian Minister of Development, Industry and Foreign Trade Fernando Pimentel.
The Brazilian government National Trade Council, Camex, approved the contents of a proposed trade liberalization offer to be made by Brazil involving negotiations for a wide ranging cooperation and trade agreement between Mercosur and the European Union.
Brazil's government is considering lowering import duties in the next planned review of regional bloc Mercosur tariffs, which is scheduled to take place in January, Trade Minister Fernando Pimentel announced this week.
Brazilian Industry and Foreign Trade minister Fernando Pimentel met this week in Buenos Aires with President Cristina Fernandez and members of her cabinet to address several bilateral trade issues that growingly concern President Dilma Rousseff because of Argentina’s increasingly market protection policies.
China and Brazil signed an agreement to do billions of dollars of trade in their local currencies, as the five-nation BRICS forum of emerging market powers work to lessen dependence on the US dollar and Euro.
Brazil hopes to sign a bilateral accord with China to promote trade in their national currencies at next week's BRICS summit of the world's five emerging powers, Trade and Industry Minister Fernando Pimentel said on Thursday.
Anhui Jianghuai Automobile Co Ltd has become the latest Chinese automaker to invest in a production project in Brazil, the world's fourth-largest automobile market, to avoid the high taxes on imported vehicles.
The Brazilian government approved a 25% tariff increase on an additional list of 100 goods from outside Mercosur and at the same time announced the implementation of a monitoring scheme for those items’ prices in the domestic market to avoid unduly increases.
Toyota from Japan has inaugurated its third plant in Brazil that aims to produce 70,000 cars a year. The facility, located 90 kilometres west of Sao Paulo in Sorocaba, will begin producing Etios compact cars next month, with engines imported from Japan.