Brazil wants to advance the tariff reduction in the Mercosur-Egypt agreement

The Brazilian private sector will ask to advance the tariff reductions of the free trade agreement between Mercosur and Egypt, in addition to requesting the inclusion of new products in the treaty, the revision of the rules of origin for some sectors, and the improvement of rules related to non-tariff barriers. The information comes from the manager of international integration policies of the national industry confederation (CNI), Fabrizio Panzini. According to the federal government, both sides intend to schedule this meeting for mid-September.

“Proposals for the agenda for the meeting are still being evaluated by the parties and may include discussion on the revision of items in the agreement’s cancellation schedules”, informed Itamaraty to ANBA when asked about the possibility of discussing the advance of tariff cancellations. Relief occurs when tariffs on products for entry into countries fall, as provided for in free trade agreements.

See the graph below for cargo movement between Brazil and Egypt since 2019. Data are from DataLiner:

Import and Export between Brazil and Egypt | Jan 2019 to June 2021 | TEU

Source: DataLiner (To request a DataLiner demo click here)

In the treaty with Egypt, some products had a zero tariff when it entered into force, in September 2017, and other goods are gradually being reduced, the last ones reaching zero in ten years. There is also an exclusion list, which includes products determined by the parties that will not have tax reductions in the agreement.

Source: ANBA -Arab-Brazil News Agency

To read the full original article, visit the link:

https://anba.com.br/brasil-quer-antecipar-desgravacoes-no-acordo-mercosul-egito/

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