Brazil and Australia’s Agricultural Trade Agreements

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As a result of the recent discussion between Brazil and Australia, the outcome of these negotiations could mark a significant step towards strengthening ties between the two nations.

On March 10th, 2023, the Brazilian agriculture ministry released a statement indicating that the Brazilian and Australian governments have initiated negotiations to establish new agricultural trade agreements.

As part of these discussions, Brazil intends to export pork to Australia while considering the possibility of importing Australian Wheat and barley if a mutually beneficial agreement can be reached.

Brazil is currently one of the world’s largest pork exporters and is also a net wheat importer. The country’s primary source of imported wheat is Argentina, although Brazil aims to increase its domestic production to achieve self-sufficiency in this staple crop.

The Brazilian President, Luiz Inácio Lula da Silva, had stated that the country’s gross domestic product (GPD) is expected to grow this year due to the government’s efforts to ‘boost job creation.’

The leftist president also said, “We cannot accept the idea that GDP won’t grow because someone said so. We will tell them that GDP will grow because we will create jobs.”

According to a statement released by the ministry, Brazil and Australia must engage in negotiations to reduce bilateral trade tariffs at the World Trade Organisation to execute an agricultural agreement.

In addition, Abitrigo, a trade association representing flour millers in Brazil, has issued a separate statement indicating that it has met with representatives of the Australian government to exchange information regarding the ‘Brazilian wheat market.’ The trade group has expressed its support for the diversification of sources for wheat exports, noting that this would yield benefits for Brazilian flour millers.

As per the agriculture ministry’s statement, the meeting between Sophie Davis and Carlos Favaro highlights the importance of fostering a collaborative and sustainable approach toward agriculture. The positive development paves the way for potential advancements in research and innovation, which can contribute to the growth of both nations’ agricultural sectors.

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