Chancellor: Brazil placed as great country after new status at WTO
Brazilian Foreign Minister Ernesto Araújo said Wednesday (Mar. 20) that, by forgoing the special and differential treatment dispensed to developing countries by the World Trade Organization (WTO), Brazil will no longer occupy its position of “a country forever under development.”
“It’s about admitting our condition as a great country, thus bringing ourselves center stage when it comes to decision making at the WTO,” the minister said, while talking about President Bolsonaro’s recent trip to the US. The government, he added, is yet to decide whether the decision will affect existing deals or just the agreements to be signed henceforth.
Surrendering the special treatment with the WTO in exchange for US support in joining the Organization for Economic Cooperation and Development (OECD) was a decision made during the meeting between Bolsonaro and US President Donald Trump Tuesday (19) at the White House.
“Joining the OECD is crucial, as it is a tool to help conduct the reforms ongoing in Brazil and bring the country to a level of reliability, lowering [Brazil cost] and attract investment,” Araújo said.
OECD
The OECD brings together the globe’s most industrialized countries and sets forth the economic and legal guidelines for its country members. Trump is reported to have praised Brazil’s efforts to reinvigorate the economy and brought practices and norms under alignment, as well as to have expressed support in Brazil’s attempts to join the organization.
In exchange, the US president asked Brazil to forego its special status with the WTO. “Commensurate with its status as a global leader, President Bolsonaro agreed that Brazil will begin to forgo special and differential treatment in World Trade Organization negotiations, in line with the United States proposal,” the joint declaration reads.
Visas
On the decision to waiver entry visas for Canadian, Australian, Japanese, and US citizens coming to Brazil, Araújo argued that these countries are major sources of tourists, which is why the impact for Brazil is expected to be significant. “It’s an old aspiration in tourism. These are tourists from prosperous countries; they’re great spenders.”
The exemption will be effective for tourists entering the country for tourism, business, sports, artistic activities. The new rules will apply for those staying in the country for over 90 days, which can be extended to another 90 days, as long as it does not surpass 180 days in 12 months. The move will be brought into force on June 17.
