The Ministry of Foreign Affairs formalized today (04.02.2021/16/XNUMX) the automotive agreement with Chile, reached on December XNUMX, through its publication in the Official Gazette, where it was specified that it will come into force on April 13.
At the end of the year, Argentina and Chile reached an agreement to modify the system of origin applicable to bilateral trade in the automotive sector, which would imply adding some 10.000 additional units per year in exports to that market.
The new regime establishes a Regional Content Index (RCI) of 50% of national participation, which encourages a "substantial increase in bilateral trade flows with a view to promoting bilateral trade and investments, and in order to advance the regional productive chain."", the Foreign Ministry stressed.
Since 1996, Mercosur and Chile have had a comprehensive trade agreement that in 2014 achieved free trade conditions for goods; in 2019, Argentina and Chile expanded this agreement to include new disciplines such as public procurement, services, trade and SMEs, trade and gender.
The current regime establishes a 60% percentage of national manufacturing that allows for exemption from paying external tariffs, and following the efforts of the Secretariat of International Economic Relations, it was lowered to 50% in the automotive sector.
Source: Telam
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