Car companies comply with Argentina’s import/export balance policy
Argentina reached an agreement with the French conglomerate Peugeot-Citroen and the importers of Italy’s Alfa Romeo, to balance imports-exports value, following on Argentina’s latest regulations for the country’s auto industry.
Economy minister Amado Boudou, Industry Minister Débora Giorgi and Domestic Trade Secretary Guillermo Moreno approved the import-export program put forward for Peugeot Citroën, Alfa Romeo car companies, in a pact to try to equalize the balance of trade over the next year.
These car companies form part of a list of many that have already made trade agreements with the government of President Cristina Fernandez de Kirchner, such as Volkswagen, Mercedes Benz and Porche. Other companies that have presented proposals include Hyundai, Kia and Ditecar which represents Volvo, Jaguar and Land Rover.
Between Monday and Tuesday next week, Giorgi alongside Economy Minister Amado Boudou, will sign the new agreements, according to sources from the Industry Ministry.
The Peugeot-Citroën program will see the Argentine branch turn a 2010 deficit of 315 million US dollars to a surplus in 2012 of 61 million USD. Alfa Romeo will also be exporting from Argentina for the first time.
In support of this agreement, exports will increase by 600 million from the production of the Peugeot 408 model, the most recent launched in Argentina.
The new model, which was presented by President Cristina Fernández de Kirchner, last November, will maintain a production of 40,000 units per year; 75% of which will be exported to other Latin American countries. A new model is in the drawing board and could see the light before the end of the year according to industry sources.
Alfa Romeo also presented a bio-diesel plant project which with an investment of 2.5 million USD should enable the company to begin exporting ‘green’ fuel in 2012 with a target of 11.5 million USD. If the project is not achieved in the planned time table the Italian corporation will compensate with a capital investment.
Suggested Stories
-
May 18th 2013
“Blue” dollar in Argentina picks up in last day of trading and reaches 8.95 Pesos
-
May 17th 2013
Argentina’s ‘autarkic project’ worsens bilateral relations and multiplies problems
-
May 17th 2013
Argentine whitewash bill turning into ugly electoral debate
-
May 16th 2013
Argentina inflation in April was 0.7%, according to the official stats office
12 comments Feed
Note: Comments do not reflect MercoPress’ opinions. They are the personal view of our users. We wish to keep this as open and unregulated as possible. However, rude or foul language, discriminative comments (based on ethnicity, religion, gender, nationality, sexual orientation or the sort), spamming or any other offensive or inappropriate behaviour will not be tolerated. Please report any inadequate posts to the editor. Comments must be in English. Thank you.
But thanks for looking out for us... ;-)
How much better to create a 'global' bloc-to-bloc trading environment - then all parties in many countries wouldn´t have to negotiate bilaterally on each individual widget.
(And I really *do* try to look out for 'us' in South America)
You can understand how confusing that is to me, right?
You're looking out for British companies doing business in Argentina, is that correct?
“Other companies that have presented proposals include Hyundai, Kia and Ditecar which represents Volvo, Jaguar and Land Rover.”
Better hope neither Jaguar nor Land Rover have any ties with the hydrocarbons exploration, you never know.
Jagauar Land Rover group have been American companies for some time (USA: Ford).
More recently they became Indian companies - part of the Tata empire.
Like all multi-national comanies they produce components globally and assemble in many countries.
Tata will be producing these brands in China soon, so you will be able to buy an old British brand, ex-American, Indian car, made in China and imported into Argentina.
It may be outside your price range because these are luxury vehicles.
All is factual information except the terminal tease.
BTW Can you really afford a Land Rover?
;)
Can you?
Chuckle chuckle……………
You mean this car ?:
en.wikipedia.org/wiki/Mitsubishi_Pajero
Carfull when driving it through areas full of Somorgujos and Chotacabras :-)
Can I? . . . . not any more - uni pensions are not characterised by generosity!
I know... haha, careful driving the PAJERO anywhere in S.A.
Have they agreed to buy
x-tons of soya or
y-tons of squid 0r even
some cows on the hoof?
What Argentinian products do these two car companies need?
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!