Brazil and Cuba Simplify Agri-Trade with New Deal
Brazil and Cuba have inked a deal to facilitate the trade of dairy, meat, and seafood.
This lets Brazilian companies export these products directly to Cuba, simplifying trade. Before, a Cuban agency had to inspect these products separately.
Now, Brazil’s own agencies can certify them, saving time and effort.
The deal isn’t just for current producers. New companies can also benefit if they meet the criteria.
Initially, the agreement lasts for two years, but it may be extended. It cuts through red tape, removing the need for Cuban inspections at the Brazilian plants.
Brazil has solid sanitary controls. In fact, over 150 countries already trust and buy Brazilian agricultural products.
In 2022, Brazil sent $38 million worth of food to Cuba, or about 43.3 thousand tons. For just the first nine months of 2023, the exports were also over $38 million.
This deal strengthens Brazil and Cuba’s existing trade relations. It reflects Brazil’s role as a key agricultural exporter.
The simplified process will likely boost trade between the countries. Trust in Brazil’s sanitation standards plays a big part in this deal.
This could set a precedent for similar agreements with other countries. The initial two-year term allows both sides to assess the benefits.
It can also offer valuable insights for renewing the agreement later. Overall, this deal promotes easier, more efficient trading.
Background
The agreement continues a history of trade between Latin American nations. It enhances Brazil’s reputation as a reliable supplier of agricultural products.
Cuba also gains by diversifying its import sources. The deal comes amid global trade shifts, offering timely opportunities for both nations.
This also aligns with Brazil’s export strategy, targeting closer relations with neighboring countries.
Cuba could use this deal as a blueprint for agreements with other nations. Furthermore, this could be a stepping stone for broader trade deals involving more types of goods.
The short, two-year term allows for quick adjustments, making the deal flexible for both countries.
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