New Partnership

Sharing natural resources is important in any national market, and organizations that produce and maintain these resources must formulate an understanding with those that utilize them. In Brazil, significant steps have been made to increase unity between these two parties, which could have a number of positive effects on the country’s environment and economy.

The International Finance Corporation (IFC) and the Union for Ethical Biotrade (UEBT) have formally partnered together to add significant assistance to various social, environmental, and government organizations. The partnership can help establish new rules pertaining to the access and sharing of benefits resulting from the use of natural, genetic resources like plants and fruits.

Many believe this is a long time coming, as the Brazilian government has been trying for years to establish unity between organizations to ensure that every party is treated fairly without compromising environmental integrity. Debates have raged for 10 years on this topic. While all sides have always agreed that the current regulations pertaining to the usage of natural resources need to be updated, a disconnect between the public and private sectors has prevented the establishment of a strong conclusion.

There is hope that the partnership between the IFC and UEBT will help with this. If so, any organization interested in doing business in Brazil and using its natural resources must stay up-to-date on the latest legal proceedings regarding this issue. Working with lawyers in Brazil can help business owners understand their options, learn the consequences of compliance failure and understand what they must do to follow all rules related to the country’s natural resources.