Brazil’s new visa pol­icy good for busi­ness ties with Tai­wan: MOEA

The China Post - - LOCAL -

A move by Brazil to ex­tend its busi­ness visa va­lid­ity for Tai­wanese na­tion­als is good for bi­lat­eral ties and ex­pected to help Tai­wanese ex­porters pen­e­trate the Brazil­ian mar­ket, the Min­istry of Eco­nomic Af­fairs ( MOEA) said Fri­day.

Ac­cord­ing to the MOEA, Brazil’s Min­istry of For­eign Af­fairs no­ti­fied its em­bassies and con­sulates on March 25 that the coun­try had de­cided to ex­tend the va­lid­ity of busi­ness visas is­sued to Tai­wanese cit­i­zens to three years from the pre­vi­ous 90 days.

The MOEA said the longer visa pe­riod will give more flex­i­bil­ity to Tai­wanese com­pa­nies hop­ing to do busi­ness in Brazil and showed Brazil’s de­ter­mi­na­tion to im­prove its in­vest­ment en­vi­ron­ment and at­tract more for­eign in­vestors.

Brazil is the largest econ­omy in South Amer­ica and the sev­enth largest econ­omy in the world and boasts strong do­mes­tic con­sump­tion, which is why Tai­wan has tar­geted it as a for­eign mar­ket for its ex­porters to ex­plore, the min­istry said.

It pledged to work with the gov­ern­ment-spon­sored Tai­wan Ex­ter­nal Trade Devel­op­ment Coun­cil and the Tai­wan Tex­tile Fed­er­a­tion to or­ga­nize groups of com­pa­nies to take part in Brazil­ian trade shows and show­case Tai­wan­made prod­ucts.

In ad­di­tion to tex­tiles, the min­istry is look­ing at plas­tic and rub­ber prod­ucts, ma­chine tools, re­new­able en­ergy de­vices and fas­ten­ers as prod­ucts with po­ten­tial in the Brazil­ian mar­ket.

Two-way trade be­tween the coun­tries to­taled US$3.99 bil­lion in 2014, in­clud­ing US$1.67 bil­lion in ex­ports from Tai­wan to Brazil.

The South Amer­i­can coun­try was Tai­wan’s 22nd largest ex­port mar­ket and its largest trad­ing part­ner in Latin Amer­ica, the MOEA said.

As of the end of Fe­bru­ary, Tai­wanese in­vestors had poured a to­tal of US$292 mil­lion into about 30 projects in Brazil, span­ning the in­for­ma­tion/com­mu­ni­ca­tions, metal pro­cess­ing, re­tail/whole­sale, ho­tel, dining ser­vices, real es­tate and trad­ing sec­tors.

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