Tag: Argentine Industrial UnionArgentine Industrial Union
Argentina’s Industrial Union, UIA, called on the government of President Cristina Fernandez to ease the imports of inputs for manufacturing, which is suffering from shortages caused by severe controls, although at the same time was supportive of official policies to boost industry.
Trade with China for Argentina has great opportunities but also great threats because the Asian giant is only interested in produce with no added value, warned the head of Argentina’s Industrial Union, Ignacio De Mendiguren.
Argentina's industrial production in May slumped 5.1% from a year earlier due to a sharp slowdown in the automotive, non-metal minerals and base metals sectors, manufacturer chamber UIA said in its monthly report Tuesday.
While Argentina’s Mercosur trade partners have adopted a cautious attitude regarding the latest measures that make it more cumbersome and bureaucratic to sell to Argentina, the country’s manufacturers and importers have warned of the consequences and called for a more balanced approach to the issue.
In a milestone speech on Tuesday anticipating the four years of her next mandate, Argentine President Cristina Fernandez disclosed she would continue with pro-growth policies but also added that a time of ‘fine tuning’ had arrived in which she was willing to address all issues including “investment and inflation” but not through the newspapers.
Argentine president Cristina Fernandez received strong support from the industrial sector for her latest policy of eliminating subsidies which are widely extended in the economy, but manufacturers also called for prudence and gradualism.
Over 80% of the Argentine electorate ratified on Sunday the current economic course, ‘which we must all support’ said the president of the powerful Argentine Industrial Union, Jose Ignacio de Mendiguren, who nevertheless called for a greater effort in “systemic competitiveness”.
The head of the Argentine Industrial Union (UIA), José Ignacio de Mendiguren, warned on Wednesday that Argentina “is starting to be affected” by the global financial crisis, furthering that the country “is not protected” against the situation.
Following on the steps of her Brazilian peer who this week unveiled an ambitious plan to prop industry, Argentine President Cristina Fernandez de Kirchner met with the country’s leading business and corporate representatives and promised her government would take all the necessary measures to defend the market from the massive influx of outer region imported goods.
Economic activity in Argentina expanded 7.8% in March compared to the same month a year ago and 0.5% over February, according to the provisional percentages from the government’s National Statistics Institute, INE.