While Argentine and Brazilian officials are involved in a ‘constructive dialogue’ to overcome trade disputes the head of the powerful Sao Paulo Federation of Industries, FIESP, Paulo Skaf said that Argentine Industry minister Debora Giorgi tends to “over-cry” the restrictions imposed on car imports to Brazil.
Argentina and Brazil agreed Tuesday to resume ‘constructive’ trade negotiations to overcome the current bilateral dispute which surfaced following the latest protectionist measures that threaten exports from the two main Mercosur partners.
Argentine Minister for Industry, Debora Giorgi will meet in coming hours with Brazilian Ambassador, Enio Cordeiro, to schedule a series of meetings to address trade disputes between the two neighbouring countries and main Mercosur associates.
Following a long day of open letters and press exchanges Argentina and Brazil finally agreed on the ground rules for the initiation of a ‘constructive dialogue’ to soften the trade dispute which erupted when Brazil imposed non automatic licences on imported cars, including from Mercosur’ main partner Argentina.
Brazil is tightening requirements for imports of cars in a move that sparked complaints from Argentina, its biggest supplier of the product. Imports to Brazil will need a special license that can take as long as 60 days to be approved, the Trade Ministry said in an e-mailed statement.
Brazil’s Commerce and Industry minister Fernando Pimentel called on the Argentine government to de-activate restrictions on Brazilian exports and revealed he had addressed a letter to his Argentine peer Debora Giorgi exposing restrictions on bilateral trade and demanding a reply this coming week end.
Trade among the two leading Mercosur partners reached 11.7 billion US dollars during the first four months of the year with Argentine exports to Brazil reaching a record 5.2 billion USD. This is 29% higher than in 2010 and 23% above the 2008 record year.
Argentina has assured India of reviewing a ban on imported pharmaceutical products and announced the purchase of drugs worth 150-200 million US dollars from Indian firms, a statement said Wednesday.
Argentina's March trade surplus more than doubled (up 141%) from the same month last year to 667 million US dollars according to official data, helped by the government’s import curbs and stronger grains exports. Trade surplus in March 2010 was 276 million USD.
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.