Brazil has plans to counter the latest battery of trade restrictions which Argentina announced, if they turn out to the barriers for Brazilian exports, reported the influential Folha de Sao Paulo.
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”.
Industry and Foreign Trade minister Fernando Pimentel expressed on Wednesday the Brazilian government’s deep disappointment with the latest Argentine legislation to be implemented on trade saying that Argentina is “a permanent problem”.
Brazil's Trade and Industry minister faced pressure Thursday to explain his personal wealth, becoming the latest and one of the most high-profile members of President Dilma Rousseff's cabinet to be targeted by the media over alleged ethics breaches.
A business mission of 53 companies organised by the Brazilian government plans to begin a tour of Mozambique, Angola and South Africa on 21 November, an Apex-Brasil official said in Sao Paulo.
The Brazilian government will propose before the World Trade Organization the implementation of import barriers to compensate for the growing penetration of foreign produce spurred by the sustained devaluation of the US dollars in recent years, said Industry Minister Fernando Pimentel.
Brazil will request at least 100 additional exceptions from Mercosur common external tariff, TEC, as part of the program to prop local industry that was announced earlier this week and includes tax relief to the tune of 16 billion dollars.
Brazil's strong currency (the so-called Super Real) is here to stay, and businesses have to get used to this new environment, said Trade and Industry Minister Fernando Pimentel a day after the government announced a massive industry support program which was described is the equivalent of the US “Buy America Act”
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.
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.