Brazil and the United Kingdom signed an agreement on import quotas

Brazil and the United Kingdom finished Negotiations between the European Union and the United Kingdom on the quantitative distribution of European Union (EU) import tariff quotas (TRQs)As the British left the group (Brexit🇧🇷

+ Black Sea grain export contract extended for 120 days

A memorandum of understanding in this sense was signed on Thursday (17th), at the World Trade Organization (WTO), between representatives of the Brazilian and British governments, according to a joint note from the three Ministries: Foreign Affairs; economy; And Agriculture, Livestock and Supply (Map🇧🇷🇧🇷

As indicated in the diagram, After more than four years of negotiationsThe deal will provide for changes to the quotas that will be applied temporarily by the EU and the UK from 2021.

These adjustments will ensure that Brexit does not disrupt Brazil’s regular trade flows with the EU and the UK. Agricultural and non-agricultural products🇧🇷 The negotiated volumes take into account Brazil’s exports to European countries from previous periods.

Import quotas between Brazil, the United Kingdom and the European Union

Photo: Freepik

Brazil had already concluded negotiations with the EU on September 14.🇧🇷 After completion of formalization procedures for the agreement within the internal borders of the two partners and within the WTO, its conclusion will be incorporated into the list of WTO obligations of the EU and the United Kingdom, the ministry said in a note. .

As per WTO rules, the details of the deal are still being reserved. Brazil hopes that the new agreed conditions will be implemented by the partners as soon as possible, Brazilian exporters may benefit from them as early as the second half of 2023This is when the regular “allocation years” for most TRQs begin.

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