How to Export to Brazil - Sprint Lazio

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Brazil – Ministry of External Relations III.7.2. Latin American Integration Association (ALADI) Established by the Montevideo Treaty, on 12 of August 1980, its creation gave continuity to the process of Latin American integration, initiated in 1960 by the former Latin American Free Trade Association – ALALC. It brings together Latin American countries, classified in three categories, according to their relative economic development, for the purposes of enjoying tariff preferences. Therefore, the lower the degree of relative development, the higher the margin of preference accrued; in turn, the higher the degree of relative development, the lower the margin granted. • Countries with lower relative development: Bolivia, Ecuador and Paraguay. • Countries with intermediate relative development: Chile, Colombia, Peru, Uruguay and Venezuela. • Countries with higher relative development: Argentina, Brazil and Mexico. The benefits (reduction in Import Tax rate) are also granted by means of margins of preference applicable to Import Tax and negotiated in agreements signed between ALADI member countries, which may be bilateral or multilateral (the so-called Economic Complementation Agreements). Products negotiated in the agreements are indicated in the respective Customs Nomenclature classification for ALADI – NALADI/SH. These advantages can only be enjoyed by the Brazilian importer upon presenting the Certificate of Origin issued by an accredited agency of a Member Country to the agreement III.7.3. Andean countries Brazil has several agreements with Andean countries. It is important that the exporter look up in these agreements whether their product is favored by tariff preferences in Brazil. It must again be stressed that these tax breaks will be formally granted to the Brazilian importer, during the process of customs clearance, upon presentation of the Certificate of Origin by an accredited agency of a party to the agreement. The Economic Complementation Agreements that exist between Brazil and Andean countries are: • ACE 36: Mercosur – Bolivia. • ACE 58: Mercosur – Peru. • ACE 59: Mercosur – Colombia and Ecuador (originally signed with Venezuela). How to export to Brazil 69
Brazil – Ministry of External Relations III.7.4. Other agreements Within Latin America, Brazil has these additional agreements: • ACE 35: Mercosur - Chile. • ACE 43: Brazil – Cuba. • ACE 53: Brazil – Mexico. • ACE 54: Mercosur – Mexico. Outside Latin America, Mercosur has close ties with African countries and India. The agreement between Mercosur and the Southern African Customs Union (SACU), formed by South Africa, Botswana, Namibia, Lesotho and Swaziland, currently includes two thousand products and will soon be enlarged to include the automotive industry. The Mercosur – India agreement, signed in December 2005, while not yet effective, will create significant tariff breaks. The MERCOSUR – European Economic Community agreement is still under negotiation. III.8. International payments and currency exchange The entry or exit of currency from Brazil necessarily involves a currency exchange contract, which must follow the norms set forth by the Central Bank of Brazil. In order to sign a currency exchange contract, a Brazilian company does not need to go to a bank, as it is made through Siscomex with an electronic signature. The negotiation of the exchange rate is set by phone with the bank’s brokers. In the case of a Brazilian import, the Central Bank requires that the buyer link to the Import Declaration the respective currency exchange contract, thereby proving that the payment to the foreign exporter has been made, a procedure known in Brazil as currency exchange coverage. Regarding the negotiation of the exchange rate from reais to the foreign currency, note that the Brazilian exchange system is one of free fluctuation, that is, its own participants, including the Central Bank, define the market exchange rate to be used on the day the currency exchange contract is signed. The means of payment to the foreign exporter will depend on the modalities agreed with the Brazilian importer. III.8.1. Means of Payment There are no currency restrictions in Brazil regarding the means of payment to be employed in imports. 70 How to export to Brazil
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TABLE OF CONTENTS Brazil - Ministry
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INTRODUCTION Brazil - Ministry of E
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Brazil General information Brazil -
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