Brazil and Argentina sign USD 250,000 partnership

During the 3rd Meeting of the Brazil-Argentina Bilateral Production and Trade Commission, the two countries (which will take turns in the presidency of Mercosur in 2017) signed an agreement with the Inter-American Development Bank (IDB) to implement an action plan for trade facilitation. The agreement forecasts investments of USD 250,000.

The meeting was aimed at removing obstacles to increased trade flows between Brazil and Argentina. The strengthening of Mercosur was also considered a strategic goal, since a stronger economic bloc can be a platform for the trade integration of the two countries.

Other priorities for Brazil and Argentina include the ongoing negotiations with the European Union and the European Free Trade Association (EFTA), as well as establishing closer trade ties with Japan, Canada and the Pacific Rim countries.

The partnership between Brazil and Argentina has the following goals: map the efficiency and transparency of procedures in force in bilateral trade; make recommendations to reduce deadlines, decrease costs and overall facilitate trade flows between Brazil and Argentina; harmonise the Brazil Single Foreign Trade Portal with the single-window trade system developed by Argentina; and intensify dialogue between the two governments and the countries' private sectors.