The Brazilian Foreign Trade Council (CAMEX) has reduced tariffs on 4,903 capital goods from 2% to zero, as of Friday. The goods are considered essential for various forms of industrial investment in Brazil and they are not available locally. “It’s extremely important for us to reduce the cost of productive investment in Brazil in order to generate jobs and stimulate the economic recovery,” said Minister of Industry, Foreign Trade and Services Marcos Pereira, in a statement. The imports are directly related to investment plans totaling some $3.1 billion. The reduction in tariffs will cost the Treasury $28 million, but the revenues will be recovered once the local investments come on stream and begin generating sales and profits. The goods covered by the order include industrial machinery used by industries such as telecommunications, information technology, medical r esources, auto parts and many others.
Link to MDIC release.More Testimonials