Brazil Listens to Experts to Eliminate Red Tape in Foreign Trade

On Friday, July 7, Brazil’s Minister of Development, Industry, and Foreign Trade, Luiz Fernando Furlan, announced the creation of a data system to monitor foreign trade in services.

According to the minister, the new system will fill a gap by furnishing a permanent instrument for measuring foreign trade in services and thus contribute to the development of this sector.

"The system will permit segment-by-segment and firm-by-firm accompaniment, which will contribute to even greater growth in service trade."

The SISCOSERV, as the new system is denominated, is expected to begin operations by the end of the year and function in a manner similar to the SISCOMEX, the system already in place for goods exports. When the system is operative, it will provide weekly and monthly results and projections for the sector.

Besides the lack of specific information, Furlan identified bureaucratic red tape, tax questions, and outdated foreign currency exchange legislation as obstacles to the growth of service exports.

In his view Brazil has the potential to expand its share of international trade in services. "This is a gold mine in which Brazil is capable of competing," he commented, adding that there are possibilities for Brazilian firms in service exports. He singled out the areas of engineering, technology, information and communication, health, and tourism.

The minister participated on Friday in the 1st National Encounter of Foreign Trade in Services, in Rio de Janeiro. The seminar was sponsored by the Ministry of Development, Industry, and Foreign Trade to gather suggestions that will enable the government to reduce the barriers that impede growth in the sector.

During the meeting Furlan proposed the creation of a service export chamber that would act as a forum for debates and the presentation of government measures for the sector. According to the minister, trade in services accounts for the creation of 50% of the country’s job openings.

ABr

Tags:

  • Show Comments (1)

  • ch.c

    Hopefully…….
    ….you will do the same for all the red tapes in your Imports.
    You may just as well buy imported goods much cheaper.

Your email address will not be published.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

The Kid in the Street

The program has been successful in rehabilitating 30 percent of the children. The remaining ...

Brazilian Sentenced to Jail in US for Selling Fake Green Cards

A Brazilian man residing in Arlington, Massachusetts, was sentenced Thursday, February 9, in federal ...

Employment Rate Up But Hours Worked Down in Brazil

Brazil’s National Confederation of Industry (CNI) released, yesterday, its industrial indicators for July. The most ...

Otaviano Canuto: This Brazilian Keeps an Eye on the World’s Poverty

Who is the World Bank Vice President of the Poverty Reduction and Economic Management ...

While Workers Go on Strike Brazil’s Petrobras Strikes Oil Again

In response to a labor strike which started early Monday, July 14, Brazilian state-controlled ...

Brazil Embraer’s New Baby Flies on Alcohol

The Neiva Aeronautical Industry, a subsidiary company of the Brazilian airplane manufacturer Embraer, delivered ...

The Confession

Why insist on playing with fire, which is precisely what this government and its ...

Petrobras Biofuel Has Big Plans for Brazil

The Board of Managers at Brazil's Petrobras Biofuel is going to present, during a ...

Brazil’s New President Wins Amid Fears She Could Overextend State’s Role

Dilma Vana Rousseff, Brazilian president Luiz Inácio Lula da Silva’s handpicked candidate to succeed ...

American Hughes Brings Satellite Broadband to 800 Schools in Brazil

U.S.-based Hughes Network Systems announced that it has started the rollout of it HughesNet ...