Argentine, Brazilian industrialists stress tie with China

Argentine and Brazilian industrialists gathered in Buenos Aires Thursday agreed that trade ties with China were "central" to their participation in the global economy.

Members of the Argentine Industrial Union (UIA) and its Brazilian counterpart, the National Confederation of Industry (CNI), met to discuss "the regional industrial situation" and "future outlook" for their respective industrial sectors.

Both countries are members of the Southern Common Market (Mercosur), a South American trade bloc that also includes Paraguay, Uruguay and Venezuela.

Following their work luncheon, the UIA issued a statement saying, "Mercosur's ties with China and the European Union were defined as central to designing a strategy for intelligent international insertion."

In addition, the two industry groups "underscored the need to avoid letting current issues affect the (bloc's) long-term strategic focus for industrial development and the strengthening of the regional market."

By "current issues" the UIA is apparently referring to political differences with bloc member Venezuela. Brazil and Argentina recently objected to Venezuela taking over the rotating presidency of Mercosur, as it was scheduled to do, citing alleged violations of democratic rule by its socialist government.

The UIA and CNI also signed a joint declaration on the creation of an Argentina-Brazil Business Council.

"This framework agreement deepens our commitment to work to expand trade and investment ties between Argentina and Brazil," the statement said.

UIA President Adrian Kaufmann Brea and his CNI counterpart Robson Braga de Andrade headed the encounter. Enditem