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

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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.

Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

Workers were opening a new road connection near the Marginal Tietê when they found, in the underground of the construction site, remnants of locomotives, wagons, and boilers from the 19th century linked to the forgotten history of Lapa.

Instead of burning or burying old tires, an American city is transforming about 2,000 of them into the street itself, paving its first sections with a quieter and more durable rubber asphalt.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

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