Argentina requires clothing importers to export products of equal value
Argentine Industry Minister Devora recently requested that Argentina’s imported consumer goods manufacturers must expand exports, and each company’s exports must be equal to its imports to balance Argentina’s domestic trade balance.
The Argentine government has recently begun to impose requirements on imports and exports of high-priced automobiles, agricultural machinery, motorcycles, footwear, toys and other related importers to have equivalent import and export values. The product range has now been expanded to include products that require application for non-automatic import licenses. , including ready-made clothing, furniture, tableware and electronic products.
According to the government’s requirements, Argentine importers must submit an import and export plan to the government and explain the corresponding measures introduced to reduce the trade import and export balance. If there is a company that is only engaged in importing but has no export performance, the Argentine Ministry of Industry will help facilitate the signing of export agreements between the company and importers from other countries.
The Argentine government once again emphasized that this regulation will not affect the supply of products in the domestic market, and products such as raw materials that are only sufficient for domestic consumption in Argentina will not be included.
In the past two months, the Argentine government has begun to require automobile manufacturers to use 30% of the production molds made in China. Currently, only one car manufacturer has accepted this requirement put forward by the government. However, the cost of products generally increases by 30% after using domestic molds. %. Automotive industry players said this was mainly due to higher domestic mold prices and longer production lead times in Argentina.
Santistebon, president of the Argentine Importers Association (CIRA), expressed dissatisfaction with the government’s decision. He believes that this move will cause a lot of trouble to importing companies, and many orders and goods in transactions that are already in the negotiation process will not be realized. Requirements for equivalent import and export volumes.
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