“To speed up export and import procedures, Brazil will sign an agreement with 10 countries in the region on May 19,” Valor Economico reports, citing Deputy Foreign Trade Minister Fausto Vieira Coutinho.

It is noted that Argentina, Bolivia, Chile, Colombia, Guatemala, Paraguay, Peru, Costa Rica, Dominican Republic and Uruguay will join the agreement.

Its participants will also provide companies with express clearance – paperwork for imports by sea and air will take less than half an hour, while normally it takes more than 14-28 hours.

RT en Español correspondent Ignacio Hubilla previously talked about the domino effect due to sanctions against Russia in Latin America.