As Brazil continues its reform efforts to accede to the OECD, USCIB partnered with the Brazil-U.S. Business Council of the U.S. Chamber of Commerce and Brazil’s National Confederation of Industry (CNI) on December 8 to launch a series of Brazil OECD Business Policy Roundtables. The roundtables convene private sector representatives to build sectoral consensus and identify priorities and possible improvements for Brazil.
“The objective of this collaborative effort between the U.S. and Brazilian business communities is to channel private sector input to Brazilian policy makers with the goal of effecting further reforms in line with OECD standards,” said USCIB Senior Director for Trade, Investment and Financial Services Eva Hampl.
USCIB President and CEO Peter Robinson spoke at the event this week and commended the reform efforts that have taken place in Brazil so far as critical to ensuring market access and a level playing field for companies operating in both markets. “Brazil is an important trade partner for the U.S. and therefore a very important market to USCIB members,” said Robinson. “Issues like trade, investment, taxation, intellectual property, and the digital economy are top of mind for our companies as they look to the Brazilian market. We look forward to discussions on all of these important issues with stakeholders in the roundtables following today’s launch event.”
As the U.S. representative to Business at OECD (known as “BIAC”), USCIB has been actively monitoring potential future accessions. Brazil formally requested OECD membership in May of 2017. According to Hampl, since the formal request in 2017, Brazil has taken steps to reform several parts of its economy to meet the OECD’s standards for eventual accession. To date, Brazil has not yet been invited to join the OECD.
In October of this year, the U.S. and Brazil updated the 2011 Agreement on Trade and Economic Cooperation. While not a comprehensive trade agreement, the update included important provisions on customs and trade facilitation, good regulatory practices and anti-corruption.
As with the accession of Colombia to the OECD, USCIB led the U.S. business effort at the OECD to share priorities on reforms. “We look forward to facilitating a similar conversation regarding Brazil,” added Robinson. “This collaborative effort with CNI, our network partner through Business at OECD, as well as the Brazil-U.S. Business Council of the U.S. Chamber, is an important step in discussing what is at stake for business in the economic relationship with Brazil.”