FOREIGN TRADE COMITTEE

COMEX

Coordenation: Fernando Marques (Grupo V.Santos)

With the expansion of business and service globalization in the last decades, foreign trade has gained fundamental importance in the contemporary world. Increasingly, agreements between countries or regional blocs seek to increase mutual access to goods and services – which leads to the need to be aware not only of economic trends, but also of legislation and specific rules for foreign trade in the country or partner block of Business.

Aware of this need and as one of the pillars of its foundation, the CCBC established a specific thematic commission for foreign trade, the Foreign Trade Commission (COMEX), disseminating information and discussing topics of interest to companies in Canada and Brazil seeking business transactions. Tax and commercial legislation, logistics, customs procedures, buying and selling operations, economic trends and sectoral perspectives are some of the topics addressed by the Foreign Trade Commission in its regular meetings with members.

Also disclosed are market studies that contribute to the generation of business between the companies of the two countries, revealing the potential to sell products in both Brazil and Canada. Among the many projects of the Commission are still the Chat with the Exporter and a full study of the opportunities for the two countries, available in Portuguese and English. Other initiatives may be known here.

This role of the Foreign Trade Commission as an agent for the approximation and promotion of business is even more relevant today, with the recent negotiations for the establishment of a free trade agreement between Canada and the countries that make up the Southern Common Market (Mercosur). Because of Mercosur rules, Brazil does not have the autonomy to negotiate a bilateral agreement with the Canadian government. In addition to targeting increased trade in goods and services, negotiations with Canada should include discussions on a range of topics of interest, such as sustainable development, small and medium-sized enterprises and corporate responsibility.

Brazil and Canada have been important trading partners for more than 150 years. This proximity has been translated in the transactions between both countries. Between 2000 and 2017, the trade flow between the two countries (adding exports and imports) increased 170.98%, going from US$ 1.65 billion to US$ 4.48 billion. In that period, Brazilian exports to Canada increased by 380.26%, and imports from Canada increased by 61.98%.

In the first half of 2018, the bilateral trade flow kept this dynamism, totaling US$ 2.4 billion. Among the main products traded to Canada in the period are oxides and hydroxides of aluminum (36%), sugar cane (10%), and semimanufactured products of iron or steel (6.1%), among others.

In the opposite direction, imports from Brazil included potassium chloride (32%), betaminous coal (12%), fuel oils (4.7%) and airplanes (3.3%). Other items on the bilateral trade agenda are food, beverages and specialty coffees.

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