Portuguese and Brazilian Posts Partner

Portuguese public postal operator, CTT Correios, has signed a deal with its Brazilian counterpart ECT to launch joint mail, express and financial products later this year. CTT has taken the lead in setting up a working group to study the international mail, express and money transfer markets with a view to launching new products and services, possibly with the same branding, in both countries in September. “The agreement is indicative of the importance of commercial relations and growing migration between the two countries,” CTT said in a statement after the signing of the accord in Lisbon last week. “The dynamism of these markets implies new products, services and brands in the target segments, a revision of costs and the negotiation of new margins between the operators with a view to introducing more competitive prices,” they added. The agreement, based on a common and jointly-managed “action plan”, is renewable annually for five years.