Argentina and Paraguay have concluded negotiations for the signing of an Agreement on the automotive sector, the Paraguayan Ministry of Foreign Affairs announced on Friday (25.10.2019).
"Until just a few hours ago, we were in discussions with Argentina, negotiating aspects of the Agreement, and once this process is concluded, the Agreement will be signed at the headquarters of the National Chancellery, this afternoon at 16:30 p.m.", said the Deputy Minister of Economic Relations and Integration, Minister Didier Olmedo, after signing the aforementioned document.
The signing of the bilateral instrument will be carried out by the Minister of Industry and Commerce, Liz Cramer, for the Republic of Paraguay, and Ambassador Héctor Antonio Lostri, for the Republic of Argentina.
Vice Minister Olmedo said that the Agreement addresses the interests of both parties in a balanced manner, and that in addition to addressing the needs of current trade, it incorporates an interesting framework for the development of free trade in automotive sector products.
"In this way we will also be providing legal coverage to a flow of trade, especially auto parts., which, because it was not incorporated into the automotive sector of MERCOSUR, and because there was no bilateral agreement on the matter, was without legal coverage”He said.
It is important that, by decision of the national government, negotiations have been resumed with Brazil and Argentina, and the objective of these Agreements also includes convergence towards a MERCOSUR Automotive Regime, as is beginning to be negotiated after a pause of almost 15 years.
"It is a very remarkable fact to have reached this understanding that will allow free trade in automobile products and auto parts, and will also allow Paraguay to have clear rules so that the automobile assembly plants of the world's major brands can manufacture and assemble automotive products in Paraguay, even automobiles under free trade conditions, in this case with the Republic of Argentina.", said the authority of the National Chancellery.
This Additional Protocol incorporates the Agreement on Common Automotive Policy between the Republics of Paraguay and Argentina, and aims to establish trade preferences aimed at promoting the development of the automotive industry and its associated sectors. pic.twitter.com/BzG8fHjgEE
— Paraguayan Foreign Ministry (@mreparaguay) October 25, 2019
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
