The Brazilian government announced on January 27 that from now on, the country will implement a licensing system for 24 types of imported products, including ready-made clothing and shoes. Economic circles here believe that this measure will affect the export of some Chinese products to Brazil.
The Brazilian Ministry of Development, Industry and Foreign Trade issued a communiqué on the same day stating that this measure was taken in accordance with relevant WTO regulations. Once it is determined that it can be imported, the import license for the product involved will be issued within 10 days.
Economic insiders here pointed out that in 2008, Brazil’s exports reached a record high of 197.9 billion U.S. dollars, but the trade surplus was only 24.7 billion U.S. dollars, a decrease of 38% compared with the previous year. The Brazilian government introduced this measure to prevent imports from growing too fast and affecting the trade surplus.
According to Brazilian official statistics, the total bilateral trade between Brazil and China in 2008 was US$36.442 billion, and China has become Brazil’s second largest trading partner, second only to the United States. China’s main export products to Brazil are communication equipment, LCD monitors, coke, digital cameras, etc.
