The proposal of the minister of Economic Development, Fernando Pimentel, of creating a subsidiary of the Social and Economic Development Brazilian Bank (BNDES) aimed specifically in fomenting the exports finds support in members of the parliament from both the government and the opposition.

Ex-president of the Brazilian Confederation of Industry (CNI), the deputy Armando Monteiro Neto, recently elected senator, defends the proposal with conviction and says to have “total understanding of its need”, in all the parties. “In addition because it is assisted by BNDES, a respected institution, that everyone knows is capable of operating in this area and meeting the objectives”, he affirms.

Practical solution

For the deputy Dr. Ubiali, president of the Committee for Economic Development, Industry and Trade of the Chamber, the measure is the most practical way to support the exports in the current economic moment, marked by the accentuated appreciation of real.

“It is highly important because it facilitates the external sales of our industry; it is going to be easy to negotiate”, he foresees. Dr. Ubiali also believes that the proposal will be easily approved by the Chamber, since it finds support in the party and in all the social segments. In his evaluation, the subsidiary will have an essential role in the exports to small markets that buy average quality products that are neither the top notch European products nor the Chinese/Asian ones.

For the opposition, the deputy Arnaldo Jardim manifests friendliness for the idea that he classifies as “convenient and necessary”.

Late and relevant

In Armando Monteiro Neto’s opinion “it is essential to count on this type of export financing support instrument, like the countries with more international trade presence do”. It is late, he observes, but Brazil now tries to put together a structure with this objective.

“Although late, the measure is really important”, emphasizes the deputy, pointing, however, the need of other measures to support the exporting sector, two special ones: to facilitate to the sector the effective use of accrued tax liability, “of which the support represents a cost”; and a reduction of the bureaucratic standards that manage the customs procedures, “today too complex and unorganized”.