Brazil and Argentina prioritize the recovery of bilateral trade flow

Recovering the flow of bilateral trade should be the priority of Brazil and Argentina, reversing the sharp drop that caused the trade flow (exports+imports) between the two countries to drop from around US$ 40 billion to $16 billion between 2011 and 2020.

The Brazilian ambassador to Argentina, Reinaldo José de Almeida Salgado, said that the growth of countries necessarily involves the development of the productive sector. He pointed out that the bilateral trade agenda is mainly composed of industrialized goods.

However, from 2011 to 2020, trade between the two countries dropped from around US$ 40 billion to R$ 16 billion.

“We need to work to reverse this trend. We remain committed to solving the problems of pandemic restrictions, but we also need systemic solutions that guarantee predictability and legal security for bilateral trade”, stated the ambassador.

In turn, the Argentine ambassador to Brazil, Daniel Scioli, in turn, stated that one of Argentina’s priorities is to recover trade with Brazil, its main partner in the region. “We are going to modernize and increase trade, and we are open to negotiating new agreements that bring benefits to both countries,” he said.

On Thursday, June 10th, the CNI and the UIA released a joint declaration in which they present priority actions for the second half of this year with the objective of boosting bilateral trade and deepening Mercosur integration.

The document was released at a virtual meeting of CEMBRAR (the Brazil-Argentina business council). The proposals are organized into priorities in the Brazil-Argentina relationship and for Mercosur. In the first, the themes are trade facilitation, regulatory cooperation, and electronic documents for foreign trade processes. In the second, the themes are discussions on the Common External Tariff (TEC), extra-regional negotiations, and internalization of pending agreements and revisions of Mercosur agreements.

Source: Comex do Brasil

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