Brasilia, Brazil, 31 March – The Brazilian government plans to notify the Chinese embassy by next week of the sectors being negatively affected by increased imports of Chinese products, officials said in Brasilia Thursday.
According to the Ministry of Development, Industry and Foreign Trade (MDIC), if no agreement can be reached the Brazilian government will start implementing specific processes for safeguarding the economy against China.
“The key word is negotiation, so much so that before we implement safeguards we are offering preliminary consultations,” said Foreign Trade secretary, Armando Meziat.
Sunglasses, glasses frames, hairbrushes, loudspeakers and iron silica are just some of the Chinese products that are flooding the Brazilian market.
In the case of textiles, safeguarding procedures that may be implemented would run until December 2008, while in remaining sectors they can be applied until December 2013.
Meanwhile, the textile agreement signed in February between Brazil and China comes into effect on April 1 under the terms of an announcement made by the MDIC on March 15.
The agreement established limits on exports of 76 textile products from China to Brazil, whose sales should be kept within the limits set by the two countries until 2008. (macauhub)