According to a report produced by the Argentine-Brazilian Chamber of Commerce (CAMBRAS), bilateral trade is expected to increase over 10 percent in 2018 as the countries’ economies continue to recover.
As of September 2017, Brazil remains Argentina’s largest trading partner with exports to Brazil at US $864 million that month and imports at US $1.5 billion. The automobile industry is particularly important pertaining to 40 percent of exports for Argentina and 50 percent of imports from Brazil. China and the US round out the top 3 as trade partners.
In addition, last week partners in Argentina and Honduras launched the Argentine-Honduran Chamber of Commerce to foster bilateral relations and trade.
Argentine Ambassador to Honduras Juan José Castelli announced the partnership while in Tegucigalpa with a group of businessmen from Mendoza and stated that the new entity would assist in increasing bi-lateral trade which currently is around US $54 million annually. Castelli confirmed that both governments would support their respective private sectors in creating a framework for expanding their markets in an efficient manner.
At the beginning of this month, Peruvian President Pedro Pablo Kuczynski (PPK) met with President Mauricio Macri and signed eight agreements to improve bilateral relations in the private sector and to further create a cultural integration between the two countries.
The meeting proved to be a step towards a more familiar relationship between the countries which pertain to different trade blocs, Mercosur and Pacific Alliance. PPK commented on the “tremendous development” in Argentina and lauded the progress the Macri administration has made for the Argentine economy.