Following an agreement between the Foreign Ministry and the Chilean government, Argentina will add 10,000 vehicles in exports of its bilateral trade with the neighboring country. The measure was made official yesterday in the Official Gazette and according to the portfolio led by Felipe Solá, it will involve US $ 150 million in sales.
Through negotiation the rule of origin imposed by the Chilean market for its imports was modified. According to her, automobiles that come from Argentina must have a certain percentage of Argentine-made components to be considered national and be exempted from paying external tariffs. Following this agreement, the minimum requirement for national integration was reduced from 60% to 50%.
The agreement was sealed last December and it was expected that it would enter into force in March but it was finally determined that It will take effect from April 13.
“Argentina is a specialist in pickup export. Imports cars from Brazil and exports pickups around the world. We have managed to get Chile to modify the rule of origin, which will allow us to export around 10,000 more pickups and that is a lot of money and work, “said Foreign Minister Solá.
Although the measure is not exclusive for this type of vehicle, companies in the automotive sector, such as Toyota, were requesting the agreement to be able to enter the Chilean market competitively. In this way The number of components that have to be of national origin to avoid paying tariffs was reduced from 60% to 50%.
Chile has an open market and with multilateral agreements with other countries, a situation that It makes it difficult for Argentine truck companies to compete with those of Asian origin, especially Thai pickups.
Regarding the agreement, the director of Corporate Affairs of Toyota Argentina, Diego Prado, said: “The company celebrates that it allows increasing production volumes and strengthening the diversification of export markets for the entire Argentine automotive industry.”
Negotiations until reaching the signature were carried out through the two foreign ministries with the work of the ambassadors of the respective countries, Rafael Bielsa in Santiago de Chile and Nicolás Monckeberg Díaz in Buenos Aires. Although the foreign minister accompanied the presidential delegation in the meeting between Alberto Fernández and his Chilean counterpart, Sebastián Piñera, the previous week, the agreement on automobiles was not part of that agenda.
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