On August 8th, 2024, in Santiago, Chile, Brazil and Chile finalized a landmark trade facilitation agreement aimed at streamlining the sale of cosmetics between the two nations.

This joint declaration concludes extensive technical negotiations and is set to reduce bureaucracy, time, and costs for exporters and importers in the cosmetics sector. The agreement represents a significant step in regulatory convergence, enhancing reciprocal market access while maintaining high standards of product quality, safety, and efficacy.

The initiative, driven by the private sector and coordinated by Brazil’s Foreign Trade Secretariat of the MDIC, saw substantial input from the National Health Surveillance Agency (Anvisa), the Ministry of Foreign Affairs, and the Brazilian Association of the Personal Hygiene, Perfumery and Cosmetics Industry. With approximately 80 percent of Brazilian toiletries, perfumes, and cosmetics exported to Latin America, and Chile being the second-largest market, this agreement will bolster bilateral trade, currently valued at around US $90 million. Brazil, a major global player in the cosmetics industry, remains the fourth-largest consumer market worldwide, following the United States, China, and Japan.