MercoPress. South Atlantic News Agency

Argentine businessmen demand strong institutions and respect for private sector

Jaime Campos from AEA

Argentina’s most powerful business organizations and personalities made a strong presentation in support of the legal system and the private sector as indispensable conditions for a sustained and continued economic development that includes all Argentines.

In the joint statement the Argentina Enterprises Association, AEA and the Argentine Industrial Union, UIA, called for a solid institutional framework, legal security, respect for contracts, stable and reliable rules of the game and full respect for the private sector.

The release was born following a meeting of the two organizations boards Wednesday midday, an invitation that had been programmed over a month ago and hosted by UIA. However on Thursday morning representatives from both organizations pointed out that the petition should not be understood as an ‘opposition attitude’ but rather as a contribution to ensure the sustainability of the current economic expansion.

Jaime Campos from AEA and Hector Mendez from UIA headed the meeting together with the participation of the rest of board members and experts from each of the organizations. AEA brings together the seventy most important business representatives of Argentina, including Argentine multinationals, and the UIA from the manufacturing sector.

UIA and AEA underlined the enormous productive potential of Argentina and the opportunity that world markets offer given the strong and sustained demand for Argentine produce, both commodities and manufactured goods.

“This is an undisputed possibility which if taken full advantage” would impact positively in the creation of jobs and in the quality of life for all Argentines”, adds the release, pointing out to the “convergent opinions as to the relevant role of industrial production, the farming industry, services and overall commerce” for the economy.

“The meeting evolved as part of the coincidence between both business organizations to promote a standing dialogue as the competent alternative for the strengthening of institutions and democracy”, pointed out the joint release.

The Buenos Aires media underlined that as important as the release was the picture of Argentina’s top businessmen and entrepreneurs in the front pages of Buenos Aires newspapers.

This latest released follows a week of strong statements from the different productive sectors of the country. Last Sunday the president of the powerful farmers’ lobby the Argentine Rural Society, Hugo Biolcati addressing the Palermo agro-industrial show said Argentina was submerged “in corruption and poverty”.

On Monday the Cordoba branch of the UIA complained bitterly about the power cuts, caused by an insufficient provision of energy and privileging residential demand. On Tuesday the same organization made strong statements regarding inflation and taxes.

On Tuesday also, but in the country’s grains and oil seeds hub, Rosario, IDEA, another organization to promote business and trade met with opposition politics and complained about “long term uncertainty” for investments in Argentina.