Brazil Advances Toward ATA Carnet System

Boomerang carnets® has been advised that Brazil has selected a national guaranteeing association (NGA), jumping a significant hurdle to issuing and accepting ATA Carnets. Cynthia Duncan, WATAC Chairwoman and Laurence Bottier-Heiderscheid, ATA Carnet Manager, ICC have both confirmed this development. The identification of the Brazilian NGA is being kept under wraps until a number of formalities have been completed and they are better prepared to respond to inquiries.

There is no proposed timeline yet available for the Brazilian NGA to begin issuing carnets and for Brazilian customs to accept them. Bruce Wilson, Chairman, Kernow Capital Corporation and former Director of Carnet Operations at the US NGA, United States Council for International Business commented, "It looks as if Brazil will be in the ATA system by year end. But that may be wishful thinking." While the 2014 FIFA World Cup will not benefit from this development, certainly the 2016 Olympics scheduled for Rio De Janeiro should be able to take advantage of the ease of temporary importation from the use of ATA Carnets.

Brazil is one of the world's largest economies still not participating in the international scheme to simplify temporary imports for international trade. The addition of Brazil into the ATA Carnet system would increase the number of South American countries in the system from one to two. Chile led that region by joining in 2005.

Bahrain is the most recent addition to the ATA Carnet system and will begin issuing and accepting carnets on June 1, 2014. Bahrain is the 83rd country/territory to join the system.

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