What Trade Agreements Does Brazil Have

A future EU-Mercosur Association Agreement should promote trade integration between Mercosur countries and create new opportunities for trade and investment with the EU by removing tariff and non-tariff barriers and foreign direct investment. The United States has an estimated services trade surplus of $18 billion with Brazil in 2019, down 11.6 percent from 2018. The EU encourages Brazil to remove tariff and non-tariff barriers and promote a stable and more open regulatory environment for European investors and traders. In 2011, the United States and Brazil signed the Trade and Economic Cooperation Agreement to strengthen trade and investment cooperation between the two largest economies in the Western Hemisphere. The agreement expands our direct trade and investment relationship by providing a framework for deepening cooperation on a number of issues of mutual interest, including innovation, trade facilitation and technical barriers to trade. == Merchandise trade with Brazil depleted $12.0 billion in 2019, an increase of 46.6 percent ($3.8 billion) per year per year 2018. The EU is currently negotiating a free trade agreement with Brazil as part of the EU`s Association Agreement negotiations with the Mercosur countries (including Argentina, Uruguay and Paraguay). Brazil is among the countries that have used a large number of potentially trade-restrictive measures, according to the European Commission`s latest report. Brazil is the largest economy in Latin America and its trade with the EU accounted for 30.8% of the EU`s total trade with Latin America in 2016. In many cases, these trade agreements are entered into as part of the government`s policy to expand markets for biofuels (ethanol).

The project will then focus on a study on fair and equitable trade in Brazil and will hold a second forum in December 2018. Brazil is currently negotiating a free trade agreement with the EU within the framework of the Mercosur Group. While Brazil was one of the most important Latin American architects of the defeat of the FTAA, in many cases its economic policies were positive for the signing of free trade agreements. Given its dominant position in Mercosur and on the continent in general, it has focused its efforts on concluding such agreements within the institutions of which it is a member. The United States is working with Brazil on trade and investment issues through a number of initiatives. U.S. services exports to Brazil were estimated at $24.6 billion in 2019, 8.4% ($2.2 billion) less than in 2018, but 81.0% more than in 2009. Revenue from services in Brazil through majority-owned subsidiaries in the United States was $40.2 billion in 2017 (latest data available), while revenue from services in the United States, mainly by Brazilian companies, was $2.7 billion. Unless otherwise specified, the term “EU” means, for all specified years, the current European Union of 27 Member States. The EU-Mercosur Association Agreement will cover, among others: the main import categories (2-digit HS) in 2019 were: mineral fuels ($5.2 billion), iron and steel ($3.4 billion), aircraft ($2.7 billion), other special imports (returns) ($2.5 billion) and machinery ($2.4 billion). .

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