Licks Attorneys' Government Affairs & International Relations Blog

Doing Business in Brazil: Political and economic landscape

Licks Attorneys' COMPLIANCE Blog

Brazil’s involvement in international organizations strengthened after votes by Senate

No items found.

The Senate Plenary approved on May 30th the international agreement on Brazil’s greater involvement in the Organization for Economic Co-operation and Development (OECD).

Bill #59/2019 institutionalized the country’s participation in various OECD forums and established the mechanisms to define future guidelines. It will reinforce the coordination of the Brazilian government’s participation inside the organization, handled by an interministerial work group, supervised by the Ministry of External Relations.

Bill #59/2019 institutionalized the country’s participation in various OECD forums and established the mechanisms to define future guidelines. It will reinforce the coordination of the Brazilian government’s participation inside the organization, handled by an interministerial work group, supervised by the Ministry of External Relations.

On May 23rd, the United States officially declared their support for Brazil’s entry in the OECD. Donald Trump had already suggested, during President Bolsonaro’s trip to the US last March, that his government would back up Brazil’s demand. Rapporteur Senator Antonio Anastasia highlighted that the entity encourages its members to adopt converging standards in commercial, financial, environmental and social matters. He estimates that the internalization of the accord should be helpful to Brazil during the country’s integration process as a full OECD member.

The Plenary also approved an accord about the amendment to voting powers in the International Financial Corporation (IFC), an organ of the World Bank, in favor of developing countries. This alteration increases the participation of basic votes from 1.88% to 5.55%. As such, the voting power of developing nations, like Brazil, increased from 33.4% to 44.1%. Basic votes are distributed equally among member states, while share votes are distributed proportionally based on the capital held by each country. According to Rapporteur Senator Antonio Anastasia, this agreement is “favorable to Brazil”, as it will hold 2.27% participation in the IFC.

Brazilian National Telecommunications Agency invites stakeholders to participate in event focused on the 5G technology
U.S. intensifies pressure on Brazilian Government to exclude Huawei from its 5G bid
Understand more about the subject of our webinar: Simplifying the Strategic Planning & Results Measurement in Government Affairs
Brazil sets a new chapter in its public health policy
Mercosul and European Union close free trade deal
Brazilian Senate approves Regulatory Agencies’ Legal Framework
BRPTO takes on the pro tempore presidency of IP BRICS
INPIがIP BRICSの議長国に就任
ブラジル・イスラエルの二国間関係の復活
Brazil and Israel, the revival of the bilateral relationship
Jair Bolsonaro in Washington: Visit key points
Sergio Moro's Anti-Crime Package
Minister of Foreign Affairs travels to the US to prepare Bolsonaro’s visit next month
Bolsonaro and the future of Mercosul
Bolsonaro gives keynote address at the World Economic Forum
Prospects on Bolsonaro's foreign policy
The Brazilian Patent and Trademark Office (BRPTO) and the Japan Patent Office (JPO) renew Patent Prosecution Highway (PPH)
Federal Agencies will have until March to create anti-corruption programs
Bolsonaro takes office as Brazil’s President
Brazil's Pension Reform