The administration of president Cristina Fernandez confirmed to Argentine business leaders that customs restrictions on imports will stay in place, despite strong international pressure for barriers to be lifted.
Argentina will from next week open the doors for Brazilian imports held up on the border between the two nations, including footwear and motor vehicles, according to Brazilian Minister of Development, Industry and Foreign Trade Fernando Pimentel.
Argentina Secretary of Domestic Trade Guillermo Moreno anticipated that the current policy implementing obstacles to contain foreign trade will continue to promote the domestic market and production, and ”because I follow the orders from the President (Cristina Fernandez)”.
Several Argentine opposition groups have started publishing their own GDP index, (as they do with inflation) based on the average of data processed by private consultants which are exposed to the intimidation of President Cristina Fernandez administration officials.
Spain has taken a step back with import restrictions on Argentina’s bio-diesel applied in a reprisal move after Argentine president Cristina Fernandez decided to seize control of energy company YPF, subsidiary of Spanish Repsol, earlier this year.
The European Union Trade Commissioner openly accused “Argentina’s behaviour” as the main obstacle in discussions to advance and reach a free trade agreement with Mercosur.
The European Union, the US and Japan have jointly asked the World Trade Organization to rule in a protracted trade dispute with Argentina. They criticize what they believe are unfair import restrictions and protectionism.
Kenzo, Louis Vuitton, Armani, Calvin Klein, Polo Ralph Lauren, Cartier are some of the designer luxury brands that have left or are leaving Argentina forced by the very strict import restrictions and money exchange controls.
Argentina on Thursday officially lodged a dispute against US restrictions on imports of Argentinean beef and other meat products, the World Trade Organization (WTO) said on Friday.
Ambassador in Washington Jorge Argüello said that the Argentine Government is concerned with the deficit increase in bilateral trade with the US and is waiting for Barack Obama administration actions to increase the purchase of Argentine goods.