Brazil’s Secretary of Foreign Trade of the Ministry of Development, Industry, and Foreign Trade, Ivan Ramalho, said yesterday that there is no invasion happening in Argentina of Brazilian products.
According to him, Brazilian exports are following agreements of both countries’ private sectors.
“Anyone who evaluates trade balance in Argentina will clearly perceive this. Importation of Brazilian products are indeed growing, but of other countries are also growing,” affirmed the secretary.
From January to April of 2005, exports to Argentina increased 40.9% compared to the same period of last year, and reached US$ 2.79 billion, which consolidates the neighboring country as the second largest buyer of Brazilian products, following only the United States.
Brazil’s importation of Argentinean products, during this same period, also increased, but not as much.
In the first four-month period of 2005, the country imported US$ 1.89 billion, 16% more than during the same period of last year.
Argentina remained the second most important country for Brazilian imports during the same period. The US is first.