Argentina and Brazil agreed on Friday to “increase” in the “short term” regional trade in a shared strategy to address the consequences of the global crisis. The commitment was endorsed by Argentina’ Industry minister Debora Giorgi and her Brazilian counterpart Fernando Pimentel.
Argentine and Brazilian presidents Cristina Fernandez and Dilma Rousseff agreed in Caracas the creation of a Productive Integration Mechanism, MIP, to deepen bilateral relations.
Argentine Industry Minister, Débora Giorgi, came on stage Tuesday at the Industrial Union’s annual conference to defend the “Kirchnerite economic model”, and warned that in order to keep an average growth of 7% as asked by businessmen, they would have to increase their annual investments to 30 billion dollars.
The Economist in its latest edition has a two-chapter piece on trade restrictions imposed by South America’s two biggest economies. The first (“Keep Out”) refers to Argentina and the second (“A self made siege’) to Brazil.
Argentina will reinforce the defence of its domestic market from ‘the danger of an invasion of Asian countries’ imports, as a consequence of the world crisis, promised this week Industry Minister Debora Giorgi.
Colombia/Argentina bilateral trade is set to reach 2 billion dollars, eight times its 2003 value, and remains favourable for Argentina, according to Minister of Industry Debora Girogi.
United States Hewlett-Packard and Canada’s Research in Motion, (RIM) (Blackberries) have agreed to set up an assembly plant for notebooks and smart-phones in Tierra del Fuego, extreme south of the country.
Argentina’s trade relation with Brazil does not have restrictions and “it’s understandable that some differences surface” when bilateral trade will be reaching over 40 billion dollars this year, said Argentine Industry Ministry sources in Buenos Aires.
French auto maker Renault has plans to invest 400 million Pesos (100 million US dollars) to produce a new model geared towards the Mercosur market, Argentina's industry minister Debora Giorgi announced this week.
Trade problems between Mercosur two main partners ‘subsist’, but both sides are optimistic that they can be solved. The revelation in the framework of the Mercosur summit follows weeks of discussions and paralyzing trade, sometimes for weeks at the borders.