LatinNews Daily - 11 October 2021

In brief: Colombia and Brazil move to deepen trade ties

* Colombia’s deputy minister of foreign trade, Andrés Cárdenas, has signed a memorandum of understanding with Brazil’s foreign trade minister Lucas Ferraz, with the aim of increasing bilateral trade between the two countries. The memorandum renewed both parties’ support for the 2017 economic complementation agreement between Colombia and the Southern Common Market (Mercosur), comprising Brazil, Argentina, Uruguay and Paraguay. The two delegations also discussed measures to facilitate bilateral trade, including the mutual recognition of each country’s digital certificates of origin, and an agreement to avoid businesses being charged duplicate taxes in both Colombia and Brazil. Cárdenas and Ferraz also discussed the need to deepen bilateral market access for the automobile, textile, plastic, and agriculture sectors, and measures to increase investment flows. The meeting will serve as a basis for discussions between Colombia’s President Iván Duque and his Brazilian counterpart Jair Bolsonaro, who are due to meet in Brazil on 19 October.

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