Cars And Vehicle Parts Traded Between Brazil And Paraguay Will Be More Accessible

Written by Valdemar Medeiros

Published on 11/02/2020 at 20:24

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Bolsonaro Announces Free Trade Agreement, Brazilian Products Will Have Tariffs of Up to 2% with Liberalization by 2022, Creating Jobs and Boosting the Country’s Economy

With this agreement, more job vacancies may arise for Brazil. Under the agreement, the parts and vehicles sold by the two countries will have minimal or zero tariffs, but the timeline for free trade will vary between the two countries.

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Parts and vehicles will have immediate free trade in Brazil. Meanwhile, Brazilian products will be taxed up to 2% in Paraguay. The tariffs will gradually decrease through the application of preference margins until full trade liberalization at the end of 2022. The agreement was signed in December during the Mercosur Summit meeting in Bento Gonçalves (RS). However, it was only formalized today (11).

About the Free Trade Agreement

Under the agreement with Paraguay, trade will be liberalized more quickly than with Argentina, which anticipates automotive free trade only starting from 2029. Signed in 2015, the agreement with Uruguay eliminated marketing quotas and allowed tax-free exports of all cars with a minimum regional content of 55% for cars sold by Brazil and 50% for those sold by Uruguay.

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On Twitter, President Jair Bolsonaro Highlighted That the Agreement Will Stimulate Production and Increase Job Creation.

“We Signed the Automotive Agreement Between Brazil and Paraguay for Immediate Free Trade for Brazilian Automotive Products Taxed with Tariffs Between Zero and 2%. More Production and Jobs. @MinEconomia and @ernestofaraujo.

The trade of automotive products between Brazil and Paraguay has been growing. In 2019, the trade flow totaled US$ 650 million, with exports valued at US$ 415 million and imports valued at US$ 235 million, resulting in a surplus of US$ 180 million for usage”. Reports President Jair Bolsonaro on his Twitter.

Cars And Vehicle Parts Traded Between Brazil And Paraguay Will Be More Accessible

Bolsonaro Announces Free Trade Agreement, Brazilian Products Will Have Tariffs of Up to 2% with Liberalization by 2022, Creating Jobs and Boosting the Country’s Economy

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About the Free Trade Agreement

On Twitter, President Jair Bolsonaro Highlighted That the Agreement Will Stimulate Production and Increase Job Creation.

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Cars And Vehicle Parts Traded Between Brazil And Paraguay Will Be More Accessible

Bolsonaro Announces Free Trade Agreement, Brazilian Products Will Have Tariffs of Up to 2% with Liberalization by 2022, Creating Jobs and Boosting the Country’s Economy

Also Read:

About the Free Trade Agreement

On Twitter, President Jair Bolsonaro Highlighted That the Agreement Will Stimulate Production and Increase Job Creation.

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

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The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

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The CEO of Honor in Spain says that smartphones will change with AI, foldables, and even robot phones; the component crisis is making cheap models more expensive in 2026 and shifting the focus to premium.

With 93 companies selling armored vehicles, aircraft, and monitoring systems to 148 countries, Brazil’s defense industry is doubling exports and is on track to break all records in 2026.

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