Admission will benefit imports and exports. Learn how to take advantage of this opportunity hand in hand with a strategic ally in logistics.
For the foreign trade sector, Brazil’s admission to the Organization for Economic Cooperation and Development (OECD) is excellent news.
The country is now starting the process for effective membership in the OECD, after submitting a formal application in 2017.
For a better understanding, the first attempts to become a member date back to the 1990s. After a series of initiatives and negotiations, there was recently a formal invitation.
The entry into the Organization is a great step for the country and its private sector, given the potential for improvement to legal structures in various issues – such as sustainability, for example – that directly benefits businesses.
Headquartered in Paris, the OECD currently has 38 member countries, including Australia, Chile, Germany, Japan, Portugal, Sweden, Switzerland, Turkey, the United Kingdom and the United States.
OECD has nowadays 251 pieces of legislation. Brazil has already acceded to 103 so far. In addition to my country, five other nations (Argentina, Bulgaria, Croatia, Peru and Romania) have started the processes of affiliation to the entity.
Benefits of OECD membership for foreign trade
We hope that Brazil’s incorporation into the OECD will encourage modifications to the Brazilian international agency and customs process, making import and export processes more practical, with a shorter time until its execution, to improve the global image of Brazilian legislation today, which discourages international investments.
We are following up close the updates and improvements in the way of doing business with Brazil to benefit your company, developing logistics solutions tailored to your needs and providing special, precise and effective attention.