According to the Libyan ambassador in Brasília, Osama Ibrahim Ayad Sawan, cooperation, the strength of the trade balance, and food security were the reasons for his country to exempt Brazil from a new import tax announced.
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Brazil’s Foreign Trade Chamber has approved an import tax exemption for nine types of food, as previously announced by the federal government, along with measures to facilitate the entry of palm oil into the country. The measure is set to take effect on Friday (14).
The North African country opened its market for Brazilian poultry in October. Negotiations to reduce tariffs to close to zero are already underway.
Exports totaled USD 548.6 million in June, against USD 210.8 million in the same month of 2017. The hike occurred after the North American government imposed new tariffs on the product.
For companies to qualify for tariff exemption or reduction in the Mercosur-Egypt trade, they need to issue a special certification. The matter was discussed in a meeting in the Arab Chamber.
