Lula Calls for Mutually Beneficial Relations Between Brazil and Argentina

Brazilian President Luiz Inácio Lula da Silva said that Brazil and Argentina have an interest in overcoming their trade differences, and he observed that temporary imbalances between the two economies are normal.

Lula met today with the Argentinean President, Nestor Kirchner, in the Planalto Palace, in the Brazilian capital Brasí­lia.

The Brazilian President emphasized that an effort must be made for economic relations to be "mutually beneficial."

"Occasional imbalances in such an intense relationship are normal, but it is not in the interest of either Brazil or Argentina for these asymmetries to become structural," he remarked.

Lula recalled that bilateral trade between the two countries surpassed US$ 16 billion in 2005. According to the Brazilian president, Brazil is currently the chief market for Argentinean exports, which amount to around US$ 5 billion, and is the fourth largest investor in Argentina.

"It is a trade involving quality on both sides, with a heavy presence of manufactured goods, contributing to the industrialization of our economies," he affirmed.

"Brazil’s exports to Argentina are concentrated in intermediate and capital goods, which are essential for sustaining Argentina’s vigorous growth," he added.

ABr

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