December 15, 2017
Thursday, August 28, 2014

Kicillof heads to Brazil for talks on automotive industry

Economy minister Axel Kicillof left Buenos Aires today to travel to Brazil, where he will meet with fellow ministers from the country to discuss the current situation of bilateral trade and the automotive industry.

Kicillof is expected to meet with Brazil's Economy minister, Guido Mantega, and Industry minister Mauro Borges in order to analyse the trade situation between the South American neighbours, according to government sources.

Falling trade in automobiles, which prompted Brazil and Argentina to sign a new commercial pact in June, will also be discussed between Kicillof and his Brazilian counterpart.

The drop in new car sales in the internal market, as well as the contraction of export sales, have affected vehicles manufacturers and sellers located in Argentina. Union estimates claim that up to 170,000 workers have been affected by the decreasing activity in the industry.

Lower demand from Brazil, which purchases around 90 percent of Argentine vehicle exports, has also hit the industry hard. In July the sector sent 24,085 units abroad to various markets, 38.7 percent lower than the 39,289 exported during the same month.
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Tags:  Argentina  Brazil  industry  Kicillof  automobiles  trade deal  

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