pprox Order code Article No L P A Z B4-DV-24-A Bevel-helical speed reduction gearboxes B4

Flender/Flender Gear Units/Bevel-helical speed reduction gearboxes B4

under 1, and overtime. Optional fringe benefits, offered by many of the larger companies, may include pension plan administered by the government, governmental medical and dental care, meals, accident insurance, termination pay, sick pay, maternity leave, yearly vacations, uniforms, and transportation. Government Policies and Programs In recent years, Brazil' official policy has been to reduce its reliance on imports while developing domestic industries, thereby conserving foreign exchange reserves. Import re- strictions are placed on all nonessential imports. In order to protect local industries, the government often levies tariffs as high as 2 percent. Tariffs for the automotive industry, for example, range between 8 and 2 percent ad valorem. The government also requires mandatory import licenses for all imported goods and employs domestic content laws as another means of curbing imports. Licenses, issued by the Foreign Trade Department of the Banco do Brazil, are subject to the Brazilian 'Law of Similars' before issuance. This law requires that likeness test be conducted to deter- mine if similar product is being produced in Brazil before an import license is granted) Brazil is member of the Latin American Integration Agreement (LAIA), which grants special tariff treatment to goods imported from member states. Brazil also signed an economic integration pact with Argentina in July 1, which reduces trade and tariff restrictions between the two countries. In November 1, Argentina and Brazil signed new agreement assigning 1-year deadline for the total integration of their two econo- mies. In May 1, the Government of Brazil announced new industrial policy terminat- ing programs shielding its industries from import competition. 3 The intention of the new policy is to gradually introduce more imported goods into Brazil, thereby forcing the do- mestic industry to become more competitive. The policy abolishes 4 laws and nearly 1 regulations a