n n n ‘. concat(e. i18n. t(“search. voice. recognition_retry”),’n
SAO PAULO (Reuters) – Brazil joined the World Trade Organization’s agreement on the civil aircraft industry on Friday, a move it welcomed through planemaker Embraer, as the deal would guarantee duty-free imports of parts from member states.
The Brazilian government, which had planned to sign up to the civil aviation pact in 2022, said its club had been approved by all 33 member countries at an assembly in Geneva.
Brazil-based Embraer is the world’s third-largest aircraft manufacturer, behind Boeing and Airbus, and a global leader in segments such as regional and business aviation.
“Until now, Brazil was the only affected aircraft manufacturer and original WTO member not participating in the agreement, while the main Brazilian aircraft competition was represented,” the Brazilian government said in a statement.
The signatories of the agreement, which came into force in 1980, are the European Union, China, Canada, Japan, Switzerland, Norway, the United Kingdom and the United States.
The Brazilian government noted that the country’s accession to the agreement would have positive effects in terms of predictability of input costs and send a positive signal to attract investment.
“Brazil’s accession to the agreement is very positive and a milestone for its foreign trade,” Francisco Gomes Neto, Embraer’s chief executive, said in a separate statement.
The company said the move would reduce import taxes on aircraft and their spare parts to zero, “avoiding the imposition of tariff barriers between signatory countries. “
(Reporting by Gabriel Araujo; editing by Steven Grattan and Susan Fenton)