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SAO PAULO – The United States security adviser, Robert C. O’Brien, said this Monday, at a Fiesp event, that the trade facilitation agreement that will be signed today between Brazil and his country may evolve in the future. , for tariff reductions. However, according to him, a free trade agreement still has to go through some stages.
– The agreement to be announced today (in Brasilia) will be a very positive sign for the future, for an even more comprehensive collaboration agreement between the US and Brazil that could ultimately lead to a free trade agreement between countries, but we want to do it step by step – said O’Brien.
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He then affirmed that it is necessary to “ensure” that this agreement to be signed today will be good for both countries. The agreement provides for a reduction in bureaucracy and procedures for trade between the two nations.
In a virtual event promoted by the United States Chamber of Commerce this Monday morning, in Brasilia, President Jair Bolsonaro said that the three bilateral agreements must “reduce bureaucracies and bring more growth” to trade between the two countries.
The package of trade facilitation measures, anticipated by GLOBO, can reduce the costs of bilateral trade by up to 15%, which this year totaled US $ 29.8 billion in the period from January to August.
The Brasilia event takes place two weeks before the US elections, in which Donald Trump tries to be re-elected and uses his trade agreements as an electoral asset in his campaign. Jair Bolsonaro is an ally of the Republican.
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Showing optimism even at the end of the US mandate, the adviser stated that the relationship between the two countries is “strategic,” that the two countries are similar, democracies of comparable sizes, and that the potential for economic cooperation between the two countries, “is practically unlimited ”.
No guarantee of a free trade agreement
The National Confederation of Industry (CNI) also evaluates that the initiative paves the way to negotiate a free trade agreement with the Americans. But that would only be possible if the terms were negotiated with all the Mercosur countries.
Under the current rules of the block, it is not possible to separately negotiate an agreement that provides for a tariff reduction. Hence the reason why the agreements to be signed this Monday do not mean greater access for Brazilian products to the US market.
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Invitation to American Investors
During the event this Monday morning, Bolsonaro highlighted the importance of US investment in Brazil and “invited” US investors to “carefully examine the portfolio of investment company programs and learn more about the opportunities offered by Brazil concessions and privatizations “.
The Brazilian president said that, “in alliance with Donald Trump,” the two representatives have elevated relations between the two countries to “their best moment.”
However, the rapprochement between Bolsonaro and Trump has not yet brought commercial gains to Brazil, which stops exporting US $ 676.5 million a year due to trade barriers applied by the United States.
Signing of letters of intent
At the Fiesp event, two letters of intent were also announced between the Finance Corporation for International Development (DFC) and Brazilian institutions.
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Alliances for eventual investments of US $ 300 million were signed with BTG Pactual to support the expansion of the loan portfolio for small and medium-sized companies (SMEs) and US $ 259 million for Smart Rio, a public lighting project in Rio de Janeiro.
