May 28, 2009
Brazil-EU pact could yield EUR200 million in commodity exports
As a result of a bilateral agreement with the European Union, Brazil should ship an additional EUR200 million (US$278 million) in sugar, beef and chicken exports to the EU, local newspaper Valor Economico reported Wednesday (May 27).
Valor reported that the bilateral agreement should compensate for lost Brazilian exports when Bulgaria and Romania entered the EU in 2007.
"We will export more in some cases than we used to export to the two countries," the report cited Roberto Azevedo, Brazil's ambassador to the World Trade Organization, as saying.
For example, the agreement should provide Brazil with a quota of 300,000 tonnes of sugar at a reduced tariff of EUR98 a tonne.
The agreement is scheduled to be signed Wednesday in Brussels and then formally signed in Geneva at a later date, the newspaper reported.
Brazil is the world's No. 1 exporter of sugar, beef and poultry.
