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Wednesday, May 30, 2012

Gov't hopes for 'a more balanced trade' with US

Argentine Ambassador to Washington Jorge Argüello
Argentine Ambassador to Washington Jorge Argüello
Argentine Ambassador to Washington Jorge Argüello

Argentine ambassador to the US Jorge Argüello stated that "the best way to reach a more balanced trade with the United States would be by increasing Argentine exports to that country" and clarified that the Government has no intentions of buying less but selling more goods.

Argüello made these comments as he addressed businessmen at the Los Angeles Chamber of Commerce, to whom he recalled that while in 2003 Argentina had a positive trade balance of $1 billion dollars, while in 2011 the figure was of 4.7 billion dollars in favour of the United States.

In that scenario, "the Argentine Government has no intentions of buying less from the US but selling more goods," thus hoping to reach “a fair bilateral trade, that grows in a sustainable manner and with positive effects for both countries.

"The rhythm of US imports into Argentina doubled the rhythm of Argentine exports to the US during the last decade. The growth rythm of US exports will reach, at least in Argentina, the goal of doubling US exports by 2014 stated by Obama during the 2010 State of the Union speech," he said.

 Argüello also recalled that it was Obama who said, following bilateral meetings with President Cristina Fernández de Kirchner in France and in Colombia, that the US and Argentina have links that go back two centuries and stressed the fact that "that is an opportunity to build" based on that history.

“It is possible to promote the development of our economic and trade bilateral relations as long as we hold on to a long term, strategic focus to manage trade frictions through communication, negotiation and by actively seeking the convergence of interests,” the Ambassador added.

Regarding foreign investment, Arguello highlighted that aside from being one of the world’s largest investors, the US is the second largest investor in Argentina, and the country receives the fourth largest amount of direct US investments in Latin America, behind Brazil, Mexico and Chile.

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Tags:  arguello  trade  US  





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