MercoPress. South Atlantic News Agency

Buenos Aires reacts to Brazilian comments that Argentina is “a permanent problem”

Minister Giorgi: Argentina seeks to rebalance trade

Reacting to Brazil’s trade minister Fernando Pimentel comments describing Argentina as “a permanent problem” Industry Minister Debora Giorgi said that “the trade balance reality between Argentina and Brazil does not warrant Pimentel's complaints”.

Giorgi explained that Argentina represented 19.5% of Brazil’s trade surplus in 2011 and that the deficit with the neighbour country stood at 5.8 billion dollars and that Argentina’s purchases to Brazil increased 23% in 2011 in comparison to the previous year.

“In our trade relationship with Brazil, both bilateral and of the Mercosur bloc, we always follow regional agreements’ rules and the World Trade Organization’s rules,” Giorgi insisted.

“Argentina seeks to rebalance the trade and the regional industrialization, requiring the access to the Brazilian market, and requesting the elimination of multiple barriers for the access of our products in the neighbouring country, as we defend our protection from disloyal competition inherent to production, export and investment incentives.”

The Industry Minister stated that “of the 30 billion dollars trade surplus Brazil has with the world, Argentina represents 19.5%; Brazilian imports have grown 23% in 2011, reaching 22.7 billion dollars and over 95% of them are manufactures.”

Giorgi made her comments in the Atlantic resort of Mar del Plata, alongside acting President Amado Boudou, where they took part in the city’s industrial exposition. She reiterated that “we are looking for the levelling of an industrialization process that had been left behind because before 2003 there was no model, as the one led by President Cristina Fernández that used the industry as the key to social inclusion.