Brazil-Argentina Automotive Accord Opens Door to Mercosur Free Trade

Brazil’s Minister of Development, Industry, and Foreign Trade, Luiz Fernando Furlan, received a show of support from the directors of Ford of Brazil for the agreement signed by Brazil and Argentina on Monday, June 26, to achieve balance in their bilateral automobile trade and establish "a standard" for new investments in the sector.

The agreement, which will go into effect on July 1st and be valid for two years, provides for more flexibility in duty-free automobile import limits.

At the end of the encounter in the ministry, Ford’s global vice-president, Dom di Marco, observed that the world’s major automobile manufacturers operate in both countries and that the agreement to stabilize the market in both, with repercussions as well in the Mercosur, will chiefly benefit the development of the Argentinean auto parts industry, which is much smaller than its Brazilian counterpart (around 25%, according to an estimate by the Ministry of Development).

According to the Ford executive, minister Furlan assured them that the deal is balanced and gives a green light to more investments by manufacturers in both countries.

According to di Marco, the minister reiterated the Brazilian government’s desire to work on behalf of free trade in the Mercosur.

Along these lines, the agreement with Argentina is expected to solidify the bases for this to occur in the not-so-distant future.

ABr

Tags:

You May Also Like

The King of the River

CDs or Books by Keyword, Title or Author By Hélio Pólvora À memória de ...

UN: In Brazil, Justice Is Slow and Impunity High

The Special Rapporteur on the independence of judges and lawyers of the United Nations ...

Brazil Tells Bolivia It Will Not Accept Any Gas Price Increase

The president of Petrobras, José Sérgio Gabrielli, says that Brazil will respect Bolivia’s decision ...

Lula Defends Brazil’s Central Bank Interest Rates Policy

In a speech at Petrobras regional headquarters in the Greater ABC region of São ...

China Is After Brazil’s Ethanol Know-How

Brazilian government officials and businessmen traveled to China where they are exchanging information, with ...

Making a Difference

Sponsoring a youngster from a third-world country like Brazil promises to be an ongoing ...

Brazil’s Armed Forces Drafted into Indian Vaccination

Starting next Monday, April 4, approximately 13 thousand Indians in 677 villages throughout Brazil will be ...

Learning to share

Brazil has a history of going it alone. It happened with the world monopoly ...

Brazil: Congress Wants New Economic Model

Brazilian President Lula’s recent defeat in the House could be the first step to ...

Brazil in Peru in Another Step to a South American Community of Nations

Brazil’s general secretary of Foreign Relations, Ambassador Samuel Pinheiro Guimarães, is representing Brazil at ...