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BRAZIL ON A PATH TO SUSTAINABLE RECOVERY

By: Cassia Carvalho

The Brazil-U.S. Business Council (BUSBC) and International Policy Coalition for Sustainable Growth have an ongoing dialogue with the Brazilian government on ways to improve its regulatory framework to meet international standards on sustainability and environmental performance. The U.S. and Brazilian business communities have long placed sustainability at the center of the bilateral policy agendas.

This week, BUSBC for its 2020 U.S.-Brazil Connect Summit, hosted a high-powered event featuring President Jair Bolsonaro, Brazilian Minister of Foreign Relations Ernesto Araújo and Minister of Economy Paulo Guedes, alongside their U.S. counterparts for (virtual) conversations that included U.S. Secretary of State Michael Pompeo, U.S. Trade Representative Robert Lighthizer, and Director of the U.S. National Economic Council Larry Kudlow. At the core of the discussions was how Brazil builds back in a more sustainable and inclusive way post-pandemic, while addressing global concerns regarding its environmental policies and deforestation. Green recovery is something every politician talks about, but few resource-rich countries have the urgency and scale of Brazil. At the Summit, Minister Guedes stressed that for recovery and growth for years to come, Brazil needs to accelerate much-needed structural reforms in order to open new frontiers for investments. Guedes recognized that environmental and sustainability risks raised by global investors need to be addressed by Brazil.

During the Summit, it was clear that Brazil recognizes how global financial markets can play a vital role in its recovery. An enabling framework, consistent with international obligations of institutional investors, may provide the conditions to attract sustainable investments. As a G20 member, Brazil, in partnership with the business community, has the opportunity to shape global environmental sustainability criteria and ensure that they are consistent with the country’s unique ecological endowment and development strategy, applicable to the vital food and land use systems, agrobiodiversity and tropical forestry.

Now is the time to engage with Brazil, a country of global and regional geopolitical benefits and consequences. Disengagement from the Brazilian economy will not improve environmental outcomes.  Building on this dialogue with tangible commitments will deliver real benefits for the citizens of Brazil, U.S. and the world.

Read original article here.

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Brazil-U.S. Business Council

January 7, 2020 by Olimar Rivera Noa

 

The Brazil-U.S. Business Council, of the U.S. Chamber of Commerce, is the premier business advocacy organization for Brazilian and U.S. companies with interest in the economic relationship and in conducting business in both markets. The Council represents a variety of industries, including consumer goods, defense, energy, healthcare, infrastructure, logistics, security, technology, travel and tourism. We aim to advance and promote investment through free trade, free market, and free enterprise.

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
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Filed Under: Brazil News

U.S. exempts Brazil from new steel, aluminum tariffs

May 1, 2018 by

The U.S. on Monday night gave Brazil a permanent exemption from new steel and aluminum tariffs, the Brazilian government said. The exemption followed a month of negotiations on the issue. However, neither the U.S. nor Brazil offered details on the agreement leading to the permanent exemption. The exemption came the same day a temporary exemption lapsed. The U.S. also offered permanent exemptions to Australia and Argentina while extending the temporary exemption to others, including the European Union. Earlier this year, the U.S. raised tariffs on steel imports to 25% and on aluminum to 10%. Brazil complained, saying its imports to the U.S. were mainly raw steel purchased by U.S. steel companies for further processing. The tariffs might have cost Brazil about $1 billion in exports.

Link to government news agency release

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Filed Under: Brazil News

First-quarter Brazil tax revenues soar on fuels, recovery

April 24, 2018 by

Brazilian tax revenues soared in the first quarter of 2018, aided by an economic recovery and hikes in fuel taxes, the Federal Tax Authority said Tuesday. First-quarter revenues were R$366.4 billion, up an inflation-adjusted 8.4% from the first quarter of 2017. Late last year, the government hiked taxes on most fuels. Revenues are also rising because of a broad economic recovery and because of government programs to encourage payment of tax arrears. Higher revenues should help the government reach its fiscal goals for 2018. The government’s goal is a primary budget surplus no greater than R$139 billion.

Link to government news agency release

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Filed Under: Brazil News

IMF boosts Brazil’s growth outlook for 2018, 2019 

April 17, 2018 by

The International Monetary Fund, in its latest global economic outlook, released Tuesday, boosted its projection for economic growth in Brazil, citing rising investment and consumer spending. The IMF now forecasts GDP expansion of 2.3% this year and 2.5% in 2019. In its previous forecast, in January, the IMF was eyeing growth of 1.9% and 2.1% for 2018 and 2019, respectively. The IMF said Brazil’s economic recovery was swifter than expected, partly because of unexpectedly low inflation and partly because of an uptake in private investment. Brazilian inflation is currently running at less than 3.0%. Low inflation has allowed the Brazilian Central Bank to slash interest rates, setting the stage for more consumer buying and more investment by businesses, the IMF said. The government’s program of concessions and privatizations is also attracting private investment.

Link to government news agency release

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Filed Under: Brazil News

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Email: brazilcouncil@uschamber.com

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