Restrictions on offsetting tax credits impact agribusiness
One of the main changes introduced by the provisional measure is the prohibition of offsetting PIS/Cofins credits with debts from other federal taxes
From now on, Brazil will be able to export pecans to China. The Asian country approved sanitary and quarantine requirements related to the quality of Brazilian pecans.
The protocol between the Ministry of Agriculture (Mapa) and the General Administration of Customs of the People's Republic of China (GACC) was signed today, after the plenary of the Sino-Brazilian High Level Commission for Concertation and Cooperation (Cosban), held in Beijing. Negotiations for the export of the product began in 2019.
The act took place during the official mission led by the Vice President of the Republic and Minister of Development, Industry, Commerce and Services, Geraldo Alckmin, accompanied by the Minister of Agriculture and Livestock, Carlos Fávaro, and other ministers, as well as delegations from the Brazilian government.
“Since President Lula's return to command of Brazil, relations with the Asian country have received an upgrade. China is the largest buyer of Brazilian agricultural products, so our expectation is to continue expanding trade relations so that we can soon announce other new openings”, reported Minister Fávaro.
According to a survey by the Brazilian Pecan Production Institute (IBPecan), of the world production of 320 thousand tons of pecans, China buys 45 thousand. Currently, Brazil is the fourth largest producer of the fruit, behind only the United States, Mexico and South Africa. Rio Grande do Sul accounts for around 70% of national production.
Currently, pecans represent 3% to 4% of the world market for nuts and nuts. The estimate is that the opening of the Chinese market could represent business worth over US$1 million.
With this announcement, Brazilian agribusiness reached its 63rd market opening this year, totaling 141 openings in 51 countries since the beginning of President Lula's third term.
The opening of this new market is the result of coordinated action between the Ministry of Agriculture and Livestock (Mapa) and the Ministry of Foreign Affairs (MRE).
Also at the seventh Cosban meeting, bilateral agreements for fresh grapes, sesame and bone-in beef and their by-products were discussed, which should be announced soon.
Another topic discussed during the plenary was the conclusion of the health process in relation to the recognition of the states of Rio Grande do Sul and Paraná as free from foot-and-mouth disease without vaccination, which should also happen soon.
“It was a very fruitful and very satisfactory meeting, showing the spectacular moment in the Brazil-China relationship”, summarized minister Carlos Fávaro.
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