Brazil's trade policy review by WTO is completed

Criado em 27/06/13 12h35 e atualizado em 28/06/13 09h26
Por Renata Giraldi Edição:Graça Adjuto / Nira Foster Fonte:Agência Brasil

Brasília – The World Trade Organization (WTO) completed its sixth review of Brazilian trade policy on Wednesday (June 26) and commended the country on a number of practices.

The organization praised how the government dealt with the challenges posed by the global economic downturn that began in 2008 and the progress it has made in diversifying foreign trade. The country also received recognition for reducing income inequality and unemployment.

At the same time, the WTO issued a warning about some restrictive trade policies. According to chairperson, Choi Seokyoung, Brazil needs to “improve” areas such as tariffs, import taxation, customs procedures and import licensing, as well as incentives and credit programs.

The Brazilian Ministry of Foreign Relations (“Itamaraty”) explained that the trade policy review is a regular procedure that all 157 members of the WTO go through at varying intervals depending on the country's participation in global trade. According to Itamaraty, the purpose of the review is to “promote transparency and mutual understanding” among member countries.

Brazil holds its trade policy reviews every four years – the previous process took place in 2009. This year's review addressed some 800 key areas in Brazil's trade policy, ranging from macroeconomic performance to infrastructure, trade protection, taxation and import licensing. Representatives from 43 national delegations attended the debates.

The organization praised Brazil's credit programs and the “Brasil Maior Plan," a manufacturing, technology and foreign trade action plan created under the Dilma Rousseff administration. But they also urged Brazil to “make trade policy implementation more transparent and predictable” and invited the country to assume “further responsibilities [in the WTO], in line with its position in the global economy.”

Edition: Graça Adjuto / Nira Foster
Translation: Mayra Borges / Olga Bardawil / Allen Bennett