The Importance of the U.S.-Brazil Partnership to Advance Priorities in the G20

Following the insightful first chapter of this year’s G20 endeavors, the U.S. Chamber of Commerce’s Brazil-U.S. Business Council and Global Initiatives Program has further solidified its engagement in the G20 agenda.

During a recent advocacy mission to Brazil, the U.S. business community actively engaged with the global and domestic B20 members, as well as Brazil’s G20 Sherpas at key Ministries to pave an open pathway for meaningful and actionable collaboration under Brazil’s G20 presidency.  

The Launchpad: B20 in Rio de Janeiro 

To kick off our journey in Brazil, the Chamber participated in the launch of the B20, led by the National Confederation of Industry (CNI), in Rio de Janeiro. Led by the B20 Chair, Dan Ioschpe the event not only underscored the critical role of the private sector in shaping global economic policies, it emphasized the importance of presenting actionable and impactful recommendations to the G20 process. Throughout 2024 the Chamber will actively participate in the various B20 task forces to shape these recommendations that will inform the G20 working groups. 

Strategic Dialogues with G20 Sherpas in Brasília 

In a series of strategic meetings in Brasília, our business delegation engaged with key stakeholders of the Brazilian Government to better understand Brazil’s goals for the G20.  The following topics are a priority for the business community and will be a main focus for 2024.   

Agriculture: Sustainable agriculture, food security, rural connectivity, environmental traceability, and antimicrobial resistance are key priorities for Brazil, especially the rehabilitation of degraded land in combating deforestation in the Amazon region.  Other priorities where American businesses can support Brazil include: 

• A harmonized carbon market and sustainable trade regulations to prevent trade barriers.  
• Improved environmental traceability to address deforestation.  
• Enhanced rural connectivity to boost productivity.  

Last year, the U.S. Chamber conducted a Green Tech Mission to Brazil to foster dialogue on innovative solutions for sustainable growth and agriculture. This mission underscored the commitment of both private and public sectors in both countries to enhance cooperation in the agriculture sector to meet the rising demand for food. 

Energy: Targeted market incentives and regulatory consistency are important in order to attract investments to the sector. In addition:  

• Access to climate funds and the need for reform of the Multilateral Development Banks (MDBs) are needed to prioritize the energy transition.  
• Biofuels cooperation, hydrogen, and the social impact of the energy transition are among the priorities for the G20 Energy Working Group.  
• Through the Chamber’s Global Energy Institute, we plan to convene key stakeholders both from the private and public sectors to support Brazil’s priorities for the energy transition within the G20 framework.   

Digital: Brazil aims to reshape the dialogue surrounding artificial intelligence within the G20, shifting focus from risk and regulatory frameworks to leveraging AI for reducing inequalities, enhancing inclusivity, promoting meaningful connectivity principles, and supporting sustainable development.  

• Challenges stemming from geopolitics in cross-border data flows and data governance, alongside the growing perception of data as a national security concern, need to be addressed.   
• Market-oriented Digital Public Infrastructure (DPI), digital information integrity, and digital government are foundational elements for fostering a robust digital economy. 

Tax, Trade, and Investment: To dismantle trade barriers, it is important to establish and adhere to consensus-driven principles that harmonize the intersection of trade, investment, and sustainable development.  

• The Tax and Investment Working Group plans to map existing ESG-related provisions in trade and investment agreements in order to streamline and harmonize such provisions for agreeing to sustainable development principles.  
• On the financial track, the reform of multilateral financial institutions and Global Taxation are priorities for Brazil to advance under its G20 presidency.  
• Harmonization of standards and rules in line with global best practices is critical, and plans to evolve these discussions are slated for the Brazilian Congress in the coming years. 

Seizing the Moment: Strengthening Brazil-U.S. Ties Beyond G20 

As Brazil leads the G20 and prepares to host COP 30 in 2025, we are reminded of the deeply rooted partnership between Brazil and the U.S., which is particularly significant this year as both nations mark 200 years of diplomatic relations. The Chamber's Brazil-U.S. Business Council has been a cornerstone in nurturing this enduring alliance, facilitating dialogue and cooperation as the voice of American business on the bilateral agenda. 

In this landmark year for Brazil and the bilateral relationship, the American business community stands ready to support Brazil and capitalize on these opportunities to promote inclusive growth, innovation, and sustainable development. 

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About the authors

Leonardo Abranches