Brazil raises concern over Argentine trade barriers

04 Feb '12

1 min read

Brazil, Argentina's third largest trade partner, has raised concern over a new Argentine law that requires importers to sign an affidavit describing their purchases before they are granted permission to import their goods, including textiles and garments.

Tatiana Prazeres, Brazil's Foreign Trade Secretary, said the Government will judge the impact of the new rule on Brazilian textile, garment and other exports to Argentina, before taking a final decision on future course of action.

Prazeres added that the Government would also consult the private sector on the issue, to protect the interests of the country's textile, garment and other exporters.

The new set of measures enforced by Argentina is in addition to the already existing system of non-automatic granting of license for imports.

Argentine Government has taken the latest step to achieve a trade surplus and to put a break on capital flight from the country in the wake of global economic slump.

Last year, Argentina-Brazil bilateral trade was worth US$ 33 billion, which was US$ 5.8 billion in favour of Brazil, an increase of 20 percent year-on-year.

Fibre2fashion News Desk - India

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