Brazil's businessmen blast Argentina's new imports regime

Brazil’s Industry National Confederation (CNI) harshly criticized the new regime of imports approved by Argentina and warned that it could contribute to a plunge of sales to that country.

The new regime approved this week will start on February 1 and will require the importers to present an affidavit before their products enter the Argentina’s customs.

The CNI qualified this measure as a “backward moment for the Mercosur trade,” the bloc formed by Argentina, Brazil, Paraguay and Uruguay.

“The new measure applied by the Argentine government, which is aimed to control the trade balance, will have a negative impact in Brazil,” the CNI stated in a communiqué.

According to the statement, the measure will increase the judicial insecurity of Argentina’s trade policies and “it’s a threat” to the Brazilian companies that have subsidiaries in the neighbouring country.