Tuesday, May 8, 2012
Boudou assures Argentina is open to trade; backs YPF expropriation
Argentina’s second in command also stated the energy sector was open for foreign investment.
Vice-President Amado Boudou stressed today Argentina’s openness to international trade and defended the government’s decision to partially expropriate shares from oil company YPF during a speech at the Council of the Americas held at the US State Department, in Washington DC.
“When you look at the our openness level, measured by adding imports and exports over the GDP, Argentina has a 33.7% rate and, if you compare it to a very successful country like Brazil the rate is 19% and compared with the United States the rate reaches 24.8%,” Boudou explained adding “we are very proud to say that we had a 30.8% raise in imports from 2011 to 2012, the G20's highest growth rate.”
The vicepresident stated the energy sector was open to foreign investment and defended the administration's decision to seize YPF.
"We're optimistic about the energy sector and the prospect of having a state-run YPF, which is open to private investment," he said.
“When you look at the our openness level, measured by adding imports and exports over the GDP, Argentina has a 33.7% rate and, if you compare it to a very successful country like Brazil the rate is 19% and compared with the United States the rate reaches 24.8%,” Boudou explained adding “we are very proud to say that we had a 30.8% raise in imports from 2011 to 2012, the G20's highest growth rate.”
The vicepresident stated the energy sector was open to foreign investment and defended the administration's decision to seize YPF.
"We're optimistic about the energy sector and the prospect of having a state-run YPF, which is open to private investment," he said.
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