• Categories
  • Archives

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Besides the lack of specific information, Furlan identified bureaucratic red tape, tax questions, and outdated foreign currency exchange legislation as obstacles to the growth of service exports.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Your email address will not be published.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

Favela children in Rio, Brazil

It’s All a Matter of Class Not Color, Say Brazilians. Just Another Myth!

Continuing with the theme of "those racists Americans", most people are familiar with the ...

Brazil Passes US$ 256 Billion Budget

Brazil’s National Congress approved December 29 the 2005 Federal Budget, which sets aside resources ...

Brazil Dismisses Charges of Genocide in Haiti as Pro-Aristide Propaganda

The former commander of the UN Mission for Stabilization in Haiti (Minustah), Brazilian general, ...

Brazil’s Family Planning Offers Condoms to 13 Year Olds

Saying this will guarantee the sexual and reproductive health rights of the population, yesterday, Brazil’s Ministry ...

Brazilian Market Finds Way Out of Red

Latin American markets endured a mixed session, as Brazil and Mexico moved in opposite ...

Latest News: Brazil Settles on Rafale After French Offer US$ 2 Billion Discount

Brazilian president Luiz Inácio Lula da Silva has denied, his Justice minister also, but ...

500 International Investment Experts Get Together in Brazil

Global tendencies for capturing investments, the liquidity of paper in capital markets, corporate perspectives ...

It’s a Bull’s Market for Brazilian Beef

The number of markets that buy Brazilian beef rose this year from 106 to ...

Brazilian Industry Blames High Interest Rates for Paltry GDP

The president of Brazil’s Federation of Industries of the State of São Paulo (Fiesp), ...

AIDS on the Rise Among Blacks in Brazil

The latest report from the Ministry of Health on AIDS in Brazil shows that ...