Argentina, Brazil Sign New Car Trade Pact

Newswire

BUENOS AIRES, June 11 (Reuters) - Argentina and Brazil signed a new 12-month bilateral car trade pact on Wednesday giving Buenos Aires more favourable terms in view of its shrinking trade surplus that is draining limited foreign reserves. Cars make up half of the $36 billion trade between the neighbours, which have had numerous commercial disputes in recent years. The revival of the auto agreement is crucial to restore trade volumes and help close widening gaps in their external accounts. ...

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