MEXICO TO EMULATE BRAZILIAN FREE ZONE MODEL

Washington, February 9, 2015.- A delegation from the Mexican Government met with officials from the regulatory body of Brazil's Manaus Free Trade Zone on February 4, 2015, to study the structure of the free zone.

The visit followed an announcement by the Mexican Government that it plans to establish three special economic zones (SEZs) in the southern states of Guerrero, Chiapas, and Oaxaca to boost development in the region.

The delegation was led by Mexico's Ambassador to Brazil, Beatriz Paredes, and included a number of officials from the Mexican Ministry of Finance.

The Superintendent of the Manaus Free Trade Zone, Gustavo Churches, informed the Mexican officials that the free zone was established by the Brazilian Government in the mid-1960s with the intention of integrating the state of Amazonas into the Brazilian economy. He said that the zone has spurred economic development in the region and has contributed to the preservation of the natural environment.

In August last year, the Brazilian Government enacted legislation extending the validity of the Manaus Free Trade Zone until 2073. The tax incentives of the zone had been due to expire in 2023.

<