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oil, iron ore and cellulose. On the contrary, the country´s main imports include medication for human or veterinarian use, transmission or reception devices and components, as well as parts and pieces for automotive vehicles and tractors.
Brazil exports mainly soybeans, crude oil, iron ore and cellulose.
2. Foreign Trade Controls in Brazil
The Chamber of Foreign Trade (CAMEX), under the Ministry
of Economy, Industry, Foreign
Trade and Services, is responsible for formulation, adoption and implementation and coordination of foreign trade policies and activities aiming at promoting foreign trade, investments and international competitiveness, except for regulation of the capital and foreign exchange markets which are under the responsibility of the National Monetary Council (CMN) and of the Brazilian Central Bank (BACEN), respectively.
Importers and exporters are required to register with the Secretary of Foreign Commerce (SECEX), which is responsible for controlling the foreign trade inbound and outbound. Also, they are required to contract
foreign exchange transactions
for the exchange of Brazilian and foreign currency and register certain transactions with the BACEN.
In practice, all the imports and export transactions are registered at the Integrated Foreign Trade System (SISCOMEX), which collects data from custom and foreign exchange registries and optimizes Brazilian international trade.
In addition, importers and exporters must be duly licensed under the RADAR before the Brazilian IRS (Secretaria da Receita Federal do Brasil). The RADAR is a system
for registration and tracking performance (behavior and risks) of companies on foreign trade activities.
The Brazilian Federal Government is currently reviewing its foreign trade regulation, through the “2018-2019 Foreign Trade Regulatory Agenda”, aiming at promoting a more coherent and transparent regulatory system. There are eight thematic areas
under review (customs, foreign trade procedures and trade facilitation; technical and health regulations, industrial defense products, sensitive goods and chemical control; financing and export guarantees, trade defense and rules of origin, Export Processing Zones, transport and logistics, services and public procurement).
3. Exports
Export transactions are generally benefited with tax incentives or
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