The Governments of Brazil and Argentina Finally Implement Digital Certificate of Origin to Streamline Trade
Brazil and Argentina have signed, on April 5, 2017 in Buenos Aires, the implementation plan for a Digital Certificate of Origin (COD). The Certificate should be valid starting on May 10, 2017. The COD, which will reduce costs related to the issuance of documents by approximately 35%, as well as the feedback from 3 days to 30 minutes, aims to benefit small and medium-sized enterprises, which are seen as crucial for economic recovery of both countries.
The Agreement on the Digital Certificate of Origin between the two countries was signed on October 3, 2016, during the official visit of Brazilian Minister of Industry, Foreign Trade and Services, Mr. Marcos Pereira, to Buenos Aires. According to the Minister’s latest statements, the initiative already places Argentina as the main partner in the effort to modernize Brazil’s foreign trade processes.