March 16, 2012

Brazil, Argentina to discuss economic trade

A meeting to discuss the ongoing trade row between South America's two biggest economies has been planned on Friday (Mar 17) between the agriculture ministers of Brazil and Argentina.

"The meeting will serve to address questions involving agribusiness trade between the two countries," Brazil's Agriculture Ministry said Thursday in a press release. "Among the issues to be discussed are trade hindrances that have hit the Brazilian pork sector."

Brazilian Agriculture Minister Mendes Ribeiro Filho will travel to Buenos Aires on Friday to meet with his Argentine counterpart, Norberto Yauhar.

Argentina has implemented a series of measures in recent months to protect its trade surplus by limiting imports, prompting a steady stream of complaints from Brazil. The two countries, along with Paraguay and Uruguay, are members of the Mercosur trade bloc.

Last month, Argentina removed the automatic licensing of imports of pork from Brazil, leading Brazilian companies to virtually halt southbound shipments out of concern about possible delays at the border.

Brazilian pork exports to Argentina declined 85% by volume in February from the same month in 2011.

The meeting between the two countries' agriculture ministers follows a visit to Brazil earlier this week by Argentina's foreign minister.