Friday, March 18, 2011

Boudou praises import-substitution strategy

Economy Minister Amado Boudou commented on the agreement made between German car maker Volkswagen and the Government yesterday to reduce their trade deficit, saying “it shows the success of import substitution, creating added value and more jobs for Argentina.”

The German car company anticipate lowering the current trade deficit of 800 million US dollars to 200 million US dollars by the end of this year also operating a surplus of around 500 million US dollars for 2012.