An agreement signed at the World Trade Organization (WTO) last week will allow Brazil to export an extra R$250 million per year to the European Union, especially sugar and poultry exports, announced the Brazilian Foreign Relations Ministry, Itamaraty.
“After three years of negotiations, conducted in close coordination with the Brazilian private sector, the quotas with reduced import tariffs for sugar and poultry meats will increase, which will increase Brazilian exports to the European Union in about R$250 million per year,” said the press note released by Itamaraty.
The agreement calls for the increase by 114,000 tons the volume of sugar allowed to be exported from the South American country to Europe with lower tariffs for the next seven years.