Brazil Will Open Markets, But Very Slowly Reveals Minister

The Brazilian industrial sector does not have any reason for concern with the further opening of the country’s markets to manufactured goods from other countries, said Brazil’s Minister of Development, Industry and Foreign Trade, Luiz Fernando Furlan.

Minister Furlan talked about the subject while seeking to allay fears in the sector of an onslaught of cheap goods from abroad following the coming international trade talks in Hong Kong.

Furlan went on to confirm that at the 6th Ministerial Meeting of the World Trade Organization in Hong Kong from December 13th to 18th, Brazil is presenting a proposal to open its markets to manufactured goods from the European Union in exchange for access to European markets for Brazilian agricultural products.

But, said Furlan, "Our Hong Kong proposal is conservative. It does not create problems for Brazilian production. When we talk about opening markets we are talking about timeframes of five or ten years, with annual tariff reductions of 0.5% to 1%. There is no reason for anyone to start pushing the panic button because of this."

Furlan pointed out that the extended timeframe would permit important adjustments, such as the placement of a more efficient interest rate policy with lower rates, improved infrastructure, less red tape at all levels of transactions and better customs processing.

"All of these factors translate into higher levels of competitiveness. They reduce costs," said the Brazilian Minister.

Agência Brasil

Tags:

  • Show Comments (1)

  • Guest

    PortUGA
    Cheers for Brazil!!! Viva Brazil uma super potencia

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil Would Like to Supply Chile with All Its Natural Gas Needs

The Brazilian gas company Petrobras wants to export Liquefied Natural Gas (LNG) to the ...

Brazil’s Top Business School Partners with American Babson College

Fundação Getúlio Vargas (FGV), Escola de Administração de Empresas, Sao Paulo (EAESP), Brazil, has ...

Slavery Lives on, Say 76% of Brazilians

According to Brazil’s last census, the black population makes up 50 percent of the ...

Unhappy, Striking Brazilian Civil Servants Get 16% Raise and Go Back to Work

In Brazil, last weekend (August 25 and 26) was the deadline for striking federal ...

Brazil’s Top Vote Getter, a Clown, May Be Barred from Congress for Illiteracy

Brazilian clown Tiririca, the candidate who won the most votes as House representative in ...

War with Rice Farmers Leaves 10,000 Brazilian Indians Isolated

Brazil's Indigenous Council of Roraima (CIR) estimates that 10,500 Indians may be isolated in ...

Brazilian Equities Resume Rally

Latin American stocks advanced, as investors resumed a recent buying spree, after sending shares ...

Brazil Joins Argentina to Build Lab for AIDS Drugs

Argentina and Brazil will join efforts to build a pharmaceutical plant for the production ...

Brazil: Bankruptcy-Plagued Varig Hires US Firm Savvy on Distressed Airlines

Global professional services firm Alvarez & Marsal, which specializes in turnarounds and restructurings, announced ...