Brazil Government To Boost Textile And Garment Industry

Recently, the Brazil government announced that it would boost domestic textiles, clothing and footwear industry. manufacturing industry A number of stimulus measures will be launched to prevent these industries from being hit by cheap imports from other countries.

To this end, the Brazil government launched a plan entitled "Bigger Brazil", including tax relief, support for financing and measures to stimulate export trade. The government hopes to help Brazil enterprises affected by the appreciation of Brazil's currency and the impact of foreign goods on the Brazil.

Specific measures include the provision of textiles, Ready-made clothes Tax incentives for shoemaking businesses and enterprises exporting manufactured goods can enjoy tax relief of 0.5% of export products. These tax cuts will offset the minimum tax of 1.5% of sales according to different industries. The Brazil Development Bank also said it would provide loans of 2 billion Brazil real (1 billion 200 million US dollars) to promote innovative investment in the industry.

The industry pointed out that this policy will benefit Brazil made products such as textiles and footwear, and the Brazil government will purchase products produced locally in Brazil at a price of 25% higher than the product price. The president of Brazil said: "we will take a series of measures to protect Brazil industries from unfair competition in the international market. Our proposal is aimed at increasing production and employment in Brazil."

It is also understood that Brazil will be stricter in terms of trade. Imported Tax relief and tax refund for goods and exported goods. Meanwhile, the government of Brazil plans to shorten the period of anti-dumping investigation from 15 months to 10 months, and shorten the period of levying provisional anti-dumping duties from 240 days to 120 days, so as to facilitate the accelerated implementation of anti-dumping duties. The government of Brazil will also supervise more strictly in customs inspection, smuggling of goods and forging of cargo documents.