LatinNews Daily - 21 June 2022

In brief: Brazil and Uruguay deepen trade ties

* Representatives from Brazil and Uruguay have signed two additional protocols to the countries’ economic complementation agreement (ECA), which will remove tariffs on exports from duty-free zones and facilitate the trade of yerba mate. The protocols were signed by the two countries’ permanent representatives to the Latin American Integration Association (Aladi) and the Southern Common Market (Mercosur). According to a statement from Uruguay’s foreign ministry, the first protocol will “permit the total and immediate lifting” of Mercosur’s common external tariff (CET) for all goods produced in duty free zones in Uruguay and Brazil. The statement notes that this expands upon previous bilateral agreements which only lifted tariffs on a limited number of goods produced in certain duty-free zones. The second protocol “establishes a new technical criteria on sanitary issues to avoid the imposition of a non-tariff barrier that impedes the entry of Brazilian yerba mate into Uruguay.”

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