Answer ... Brazil has entered into bilateral agreements with the following jurisdictions: Angola, Argentina, Bolivia, Chile, Colombia, Cuba, Egypt, Ecuador, Guyana, India, Israel, Mexico, Panama, Paraguay, Peru, Saint Kitts and Nevis, the Southern African Customs Union, Suriname, Uruguay and Venezuela.
Most of the commercial agreements were entered into by the Latin American Integration Association (ALADI). ALADI was established in 1980 by the Montevideo Treaty, which aimed to establish a common Latin American market characterised by the adoption of tariff preferences and the elimination of non-tariff restrictions.
Brazil also has a trade agreement with the Southern Common Market (Mercosul). This is an important economic bloc in Latin America formed by Brazil, Argentina, Uruguay, Paraguay and other countries. It was created in 1991 with the aim of increasing the supply of jobs and income, improving productivity and strengthening economic relations between nations.
Recently, Brazil concluded two important negotiations. The first related to an agreement concluded on 23 August 2019 between Mercosul and the European Free Trade Association (ie, Switzerland, Norway, Iceland and Liechtenstein), which aims to eliminate tariffs applied to imports in 100% of the industrial universe.
The second relates to the Bi-regional Association Agreement between Mercosur and the European Union, concluded on 18 June 2020, which is still pending approval.
Among other things, these agreements aim to:
- promote greater openness, transparency and legal certainty in the markets for services, investments and government purchases;
- reduce non-tariff barriers; and
- consolidate the agenda of good regulatory practices and establish modern disciplines in the areas of trade facilitation and intellectual property.