,

Brazil and Uruguay Renew Their Automotive Agreement

By Federico Mazzella ,
Home  /  Integration Blocs  /  Brazil and Uruguay Renew Their Automotive Agreement
Categorías:
  Integration Blocs Mercosur n229

Print this article

On August 31, Brazil and Uruguay signed a new agreement (in Portuguese) that establishes the conditions for bilateral trade in the automotive sector until the end of 2015. Brazil will be able to export 10,056 light vehicles and autoparts up to a value of US$ 99.6 million duty-free to Uruguay. This implies an extension of the previous agreement, which allowed Brazil to export automotive parts to the same value and a smaller quantity of vehicles (8,504) over a 12-month period. Uruguay will be able to export automotive products to Brazil up to a value of US$ 49.7 million. Likewise, both countries agreed on a Work Plan to promote bilateral productive integration.

It should be noted that the automotive and sugar industries are excluded from free trade within the MERCOSUR. Trade within the automotive sector is regulated by bilateral agreements between member countries. There are also similar bilateral agreements between MERCOSUR countries and Mexico.

this post was shared 0 times
 000