THE WHAT? Brazil and Chile have finalized negotiations on the Brazil-Chile Trade Facilitating Initiative, targeting the cosmetic products sector. This landmark agreement aims to streamline regulations, reduce trade barriers, and foster economic growth in the personal hygiene, perfumery, and cosmetics industries in both nations.
THE DETAILS The agreement’s key objectives include eliminating the need for a Free Sale Certificate, reducing prior health requirements, harmonizing labeling standards, and enhancing good manufacturing practices. It also emphasizes the importance of market surveillance to ensure product safety and consumer protection. By aligning regulatory frameworks, Brazil and Chile seek to create a more seamless trading environment without compromising safety or quality.
THE WHY? This initiative is expected to bring significant benefits, such as reduced costs for businesses, increased legal certainty, improved competitiveness, and a smaller environmental footprint. Both countries view this agreement as a potential model for future trade negotiations in other sectors and with other countries, particularly within Latin America.
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Publish date : 2024-08-11 18:00:00
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