The Minister of Economy, Paulo Guedes, reaffirmed today (28) Brazil’s commitments to the guidelines of the Organization for Economic Cooperation and Development (OECD). In a meeting with the organisation’s secretary general, Mathias Cormann, in Paris, Guedes mentioned the government’s efforts to advance the country’s accession process to the group, which brings together the most industrialized economies on the planet.
According to the Ministry of Economy, Guedes highlighted that Brazil’s accession to the OECD will positively contribute to the process of economic and regulatory modernization underway in Brazil. The minister pointed out the work carried out by the Ministry of Economy in the tax, financial and investment areas.
In January, the OECD formalized the invitation for Brazil to be part of the organization. According to the Ministry of Economy, Brazil is in an advanced stage of convergence with the OECD, having adhered to 104 of the 251 normative instruments of the international body.
According to the Ministry’s Secretariat for International Affairs, the accession process is faster than that of other countries invited to join the group or that act as key partners, such as Argentina (51 instruments), Romania (53), Peru ( 45), Bulgaria (32) and Croatia (28).
Two weeks ago, the government announced the gradual reduction of the Tax on Financial Transactions (IOF) on exchange, a measure required of countries that want to join the OECD. The tax will be reduced in stages, until it is zeroed in 2028 for all foreign exchange operations.
Also in Paris, Guedes met with the secretary general of the International Chamber of Commerce (CIC), John Denton. At the meeting, the minister mentioned the progress of the regulatory and trade reforms agenda that aim to reduce bureaucracy and stimulate foreign trade. He also highlighted the inflow of foreign investments arising from the concessions program. According to Guedes, in the last three years, the country has contracted R$ 1.1 trillion in private investments for the coming decades.
According to the Ministry of Economy, Guedes informed that Brazil remains committed to sustainable development and remains interested in concluding and signing the Mercosur-European Union Trade Agreement.
