On Wednesday, September 25, 2024, Brazil and China signed a Memorandum of Understanding (MoU) to integrate Brazil’s single foreign trade portal with its Chinese counterpart. This initiative aims to enhance the flexibility, security, and efficiency of foreign trade operations between the two nations.
The agreement aims to achieve interoperability between systems by allowing them to “talk” to each other. This includes:
- Exchange of logistical information and customs declarations.
- Facilitating the use of certificates that are crucial for exports, such as phytosanitary certificates.
In 2023, Brazilian exports to China, valued at US$56 billion, were supported by sanitary and phytosanitary certificates. This new integration promises to lower costs and reduce delays, thereby enhancing trade between the two nations.
The Single Foreign Trade Portal programme is an initiative of the federal government to reduce red tape, time and costs for Brazilian exports and imports in order to more efficiently meet foreign trade demands. The Single Portal aims to centralise and facilitate communication between government and private sector operators.
Summary by DigitalTrade4.EU