7 Nov 2018
Deregulation Efforts Move Forward in Brazil
Brazil’s Foreign Trade Chamber (CAMEX) recently hosted representatives from 20 ministries, regulatory agencies and other entities as part of an on-going effort by the Brazilian government (known as the “regulatory guillotine”) to streamline and simplify trade-related procedures and requirements. Among other things, the attendees discussed policies to manage the existing stock of regulations as well as experiences by different federal agencies to improve Brazil’s regulatory environment.
A recent regulatory improvement involves the consolidation into only two regulations of some 390 measures that established tariff-rate quotas for a broad range of foreign products, which will greatly help exporters and importers ascertain which specific tariff lines benefit from duty-free treatment or a reduced two percent duty, the specific TRQ amount and the duration of the preferential duty treatment. CAMEX noted at the meeting that the adoption of good regulatory practices is a matter of national interest that should continue to be pursued by the new government because a good regulatory environment is key to promoting economic activity, attracting investment and expanding trade.