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.

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The U.S. Chamber of Commerce’s Brazil-U.S. Business Council hosted its two-day U.S.-Brazil Connect Summit as news began to break that the two countries have reached an agreement on a bilateral trade package.

The U.S. and Brazil have been working towards a package since March when President Donald Trump and President Jair Bolsonaro directed their respective trade delegations to deepen the bilateral relationship.

President Bolsonaro opened the summit, emphasizing that the U.S. and Brazil relationship has never been stronger.

The Chamber’s Brazil-U.S. Business Council has been promoting the bilateral economic relationship for more than 40 years, representing the voice of business and expressing its priorities. The Council engaged the two governments throughout the negotiations and provided specific recommendations on all three agreed upon chapters as well as the originally planned digital trade chapter.

Brilliant welcomed the progress made in the areas of trade facilitation, good regulatory practices, and anti-corruption, while acknowledging the work that remains on key elements such as digital trade and delivery services.

“The Chamber applauds the progress of the U.S. and Brazilian governments for delivering a trade package that will help foster stronger commercial ties between the two governments. By implementing trade facilitation reforms, embracing good regulatory practices, and taking steps to combat corruption, this agreement will support commerce, growth, and job creation in both countries,” said Brilliant. “There is still much more to do on key priorities—the fact that digital trade and express shipment provisions did not make the cut is a missed opportunity. We ask both governments to return to the negotiating table as soon as possible to leverage the positive momentum of today’s announcement.”

For more on the U.S. Chamber’s policy priorities for completing a comprehensive trade deal, read the one-pager “Building a Strategic Alliance for the 21st Century.”

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Each year the Council, together with its member companies, institutional partners and stakeholders, defines its priorities and action plans to most effectively advance its goals under the current political and economic landscape.

Building on 43 years of history and experience as strategic partner, the Council is working to strengthen the already deep U.S.-Brazil relationship with framework agreements in a number of sectors.

Combining original research, policy analysis, and engagement with policymakers and corporate leaders, the Council’s 2020 Program of Work examines and advocates policy issues and priorities in many industry sectors. Click the image below for PDF version.

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