Brazil will integrate an important forum for the definition of trade rules in the aerospace sector
São José dos Campos, November 17th, 2023 – Embraer (NYSE: ERJ; B3: EMBR3) welcomes Brazil's accession to the World Trade Organization's (WTO) Agreement on Trade in Civil Aircraft (TCA). The signing was formalized today in a ceremony held at the WTO headquarters in Geneva (Switzerland).
“Brazil’s accession to the agreement is very positive and a relevant milestone for the Brazilian international trade. From now on, the country will be part of an important forum in the discussion of rules for the trade of civil aircraft between the main countries operating in the sector”, states Francisco Gomes Neto, President and CEO of Embraer.
The TCA will bring greater predictability and legal certainty of market access for Brazilian aerospace companies, as it establishes rules for the international trade of civil aircraft. The agreement also eliminates all import duties on aircraft, their parts, and components, preventing tariff barriers from being imposed on imports in the sector between the signatory countries.