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:

Ads

You May Also Like

Brazil’s Supreme Refuses to Order Arrest of Adman Involved in Vote-Buying Scheme

Brazil’s president of the Federal Supreme Court (STF), Minister Nelson Jobin, denied yesterday a ...

Amazon: Brazil Arrests 11 Caught Logging

The arrests in Brazil of eleven individuals caught red-handed in the past two weeks ...

Brazil’s Largest Port for Grain to Invest US$ 36 Million

Foreign revenues generated by exports from Paranaguá port, in the southern Brazilian state of ...

Brazilian State Can’t Take the Mafia and Calls the Feds

Brazil’s National Security Force is on its way to the state of EspÀ­rito Santo ...

Brazil’s Development Bank Loans US$ 429 Million for Alternative Energy

The Brazilian Development Bank (BNDES) approved financing of US$ 428.1 million (1 billion reais) ...

Sen. Marina Silva and Gov. Serra Want Brazil to Pitch in on Climate Global Fund

Brazilian senator and former Environment minister, Marina Silva, and São Paulo Governor José Serra, ...

Unemployment Still 10.9% in Brazil

Unemployment in Brazil attained 10.9% in September in comparison with August, its lowest level ...

Uruguayan President Tabare Vasquez

Brazil’s Lula Tries to Steal Bush’s Thunder in Uruguay

Brazilian president Luiz Inácio Lula da Silva will be arriving Monday for a one ...

Brazil’s Dií¡rios Associados Media Group Adopts Advision

Net-linx Americas announces the signing of an agreement with Brazil’s “Os Diários Associados”, for ...

Ecuador Bows to Brazilian Pressure and Pays Debt to Brazil

The Brazilian Foreign Affairs ministry revealed that Ecuador has quietly made overdue payments to ...