Costa Rica to provide compensation for safeguards to Brazilian sugar
terça-feira, outubro 04, 2022
In addition to establishing an import tariff quota for 4,437 metric tons of sugar, Costa Rica agreed to reduce the ethanol import tax to zero
Brazil and Costa Rica celebrated, on September 30, an understanding on compensation stemming from the application of safeguards by the Costa Rican government to imports of Brazilian white sugar. In August 2020, Costa Rica imposed an additional surcharge of 34.27% on the Brazilian product, after a safeguards investigation that began in 2019.
Since the implementation of the measure, according to MAPA (Ministry of Agriculture, Livestock and Supply), the Brazilian Government has sought to negotiate an agreement that avoided restrictions on bilateral trade. "In November 2020, given the lack of agreement, the Brazilian Government suspended concessions on imports of certain agricultural products originating in Costa Rica, a measure underphering in the Safeguards Agreement of the World Trade Organization (WTO)," he said in a statement released today, 04.
With the signed agreement, Costa Rica undertook to grant, during the remaining period of the safeguard, in force until August 19, 2023, an import tariff quota in the total volume of 4,437 metric tons (TM) of sugar exempt from the application of the measure. According to the agreement, Costa Rica agreed to reduce to zero the import tax on ethanol during the first year of implementation of the blending project of gasoline and ethanol, to be implemented in that country.
In 2021, Brazilian sugar exports to Costa Rica reached about US$2.6 million. "The understanding results from the commitment of the two countries to build a negotiated solution aimed at strengthening and expanding bilateral trade ties," the Map said.
Source: RPA news
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