Argentina is in talks with Brazil to reach a free trade agreement with the United States and China, Argentine President Mauricio Macri said on Thursday (05.07.2019).
"In a couple of months we will go for EFTA (European Free Trade Association) and before the end of the year we expect Canada, and next year we will have Korea on the agenda," said Macri at an event of the Confederation of Medium-sized Enterprises (CAME) in Buenos Aires.
"The Foreign Minister (Jorge Faurie) said that we are also talking with Brazil for a free trade agreement with the United States, China, " He added.
The Mercosur trade bloc, in which Argentina and Brazil are the largest partners and which also includes Uruguay and Paraguay, recently reached a strategic trade agreement with the European Union after 20 years of negotiations.
Marcos Peña, the government's chief of staff, said some trade agreements are more imminent and negotiations with the United States would take longer.
«There are some talks that are more advanced, such as the EFTA case or the case of Canada, which may be more imminent. The other thing, as may be the case in the United States, are more long-term projects," explained Peña. to journalists at the Government House.
Macri, who is seeking re-election in the October elections, is betting on trade openness to help Argentina's economy recover, which is going through a recession with inflation of more than 57% per year and an unemployment rate of 10,1%.
"Demand for our products will multiply and we have to prepare to produce more," said Macri.
Source: Reuters
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