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Besides the lack of specific information, Furlan identified bureaucratic red tape, tax questions, and outdated foreign currency exchange legislation as obstacles to the growth of service exports.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Your email address will not be published.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

All But One of Brazil’s Beef Producing States Free of Foot and Mouth Disease

Brazil's minister of Agriculture, Livestock and Food Supply, Reinhold Stephanes, announced that the OIE ...

McDonald’s Will Have Burger King to Battle in Brazil Too

Burger King Corporation announced recently the opening of its first freestanding Burger King restaurant ...

Born on the Web

In a list of 150 countries classified by the he Gini index—an indicator used ...

Brazil Starts Enriching Uranium for Its Nuclear Power Plants

The INB, state-owned Brazilian Nuclear Industries, is going to enrich uranium in Resende, in ...

Brazil Helps Africa Create Research Infrastructure

Brazil plans to launch a project to boost public-health research in Portuguese-speaking countries in ...

Brazil Is Back to Square One on Its Dispute with AIDS Drug Maker Abbott

The expensive prices of the HIV/AIDS drugs charged by international laboratories may jeopardize the ...

Brazilian Chancellor in the U.S. Drumming Up Business for Brazil

The Brazilian Minister of Foreign Relations, Celso Amorim, addressed a Brazilian and American business ...

Higher Prices and Russia Give Brazilian Beef Exports a 15.5% Boost

Brazilian cattle beef exports totaled US$ 2 billion from January to July this year, ...

Impunity Continues 8 Years After Brazil’s Massacre

The world has not forgotten. Though it is eight years since the cold blooded ...

Daguerreotype and the Birth of Photography in Brazil

Louis-Jacques Mandé Daguerre (1787-1851) was a French artist from whose name was coined the ...