U.S. and Brazil Business Organizations Urge First Phase of a Bilateral Trade Agreement in 2020   

Monday, April 27, 2020 - 10:30am

WASHINGTON, D.C. – Leading business organizations from the United States and Brazil, including  the U.S. Chamber of Commerce, the Brazil-U.S. Business Council, the American Chamber of Commerce for Brazil and the National Confederation of Industry of Brazil, sent a letter to the governments of both countries last week, supporting their commitment to secure the first phase of a comprehensive bilateral trade agreement in 2020. The letter emphasizes that the business community views this an opportune time to take bold action in light of the coronavirus pandemic and believe that a trade agreement would contribute to restoring economic growth and job creation in both countries. 

In the letter, the organizations recommend that a trade agreement be comprehensive and include binding commitments in the areas of trade facilitation, good regulatory practices, digital trade, anti-corruption, intellectual property, among other non-tariff areas.    

“We are confident that a bilateral trade agreement would unlock economic benefits for both countries and strengthen the relationship in dynamic ways,” said Myron Brilliant, Executive Vice President and Head of International Affairs, U.S. Chamber of Commerce. “Deepening the ties between the region’s two largest economies is critical, especially as our countries navigate the recovery from this global pandemic, and will lead to new commercial opportunities.” 

Such a bilateral trade package is in line with the recent statement between Presidents Donald Trump and Jair Bolsonaro, as well as with statements of the USTR and Brazil’s Ministries of Foreign Affairs and Economy. It would be an initial step toward concluding a more comprehensive agreement in the future.   

The U.S. and Brazilian private sectors stand ready to work with both governments during this process. The joint letter is supported by more than 25 business organizations from both the U.S. and Brazil, and was sent to the United States Trade Representative, the Director of the National Economic Council of the United States and to the Ministers of Foreign Affairs and Economy of Brazil.  

Read the full letter here.