Brazil to propose automotive free trade with Argentina
Brazil will propose a free trade with Argentina in the automotive industry 
Brazil will propose a free trade with Argentina in the automotive industry this Thursday (Feb. 18), during a meeting between Development, Industry, and Foreign Trade Minister Armando Monteiro, and Argentine Production Minister Francisco Cabrera, taking place in Buenos Aires. The information has been confirmed by the Ministry for Development, Industry, and Foreign Trade.
Brazil and Uruguay had already signed a free trade agreement last December, allowing the tariff-free entry between the countries of products that meet the regional content percentage requirement in their components. For Brazilian vehicle and auto parts, the regional content requirement is 55% and, 50% for Uruguayans products. For products that do not reach the above-mentioned regional value-added threshold, an additional quota will be applied: $650 million for Uruguay and $325 million for Brazil. The agreement came into forme on January 1, 2016.
In 2015, Brazil also signed an automotive agreement with Colombia and renewed automotive trade agreements with Mexico and Argentina. However, those have not been free trade agreements. The Ministry for Development, Industry, and Foreign Trade has not revealed the terms of the Brazilian proposal for the Argentine to a free trade treaty.
Minister Armando Monteiro has said that he expects the trade between Brazil and Argentina to expand under President Mauricio Macri's government. In December, Monteiro noted that Macri has committed to removing protectionist trade barriers.
Translated by Amarílis Anchieta
Fonte: Brazil to propose automotive free trade with Argentina
