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Brazil Agrees With IDB to Streamline Imports, Boost Exports

Brazil’s government signed a letter of intent with the Inter American Development Bank (IDB) on Monday to facilitate imports and boost Brazilian exports, including biodiversity products from the Amazon region.

The primary initiative involves IDB support to implement new import processes under the so-called Single Foreign Trade Portal, aimed at reducing bureaucracy and cutting timelines and costs for the public administration and international trade operators, said Brazil’s Ministry of Development, Industry, Trade and Services in a statement.

The IDB will assist the ministry in implementing the National Export Culture Policy to increase the number of micro, small and medium-sized companies selling products abroad. The government noted that fewer than 1% of Brazilian companies are exporters.

“The IDB will collaborate, especially through initiatives that promote the increase in exports of Amazon biodiversity products, fostering an inclusive and sustainable development model in the region,” the statement said.

Getting more women-led businesses and Brazilian states to take part in foreign trade is a priority, it added.

Source: Yahoo!Finance