Argentina’s import restrictions are questioned
The Argentine Ministry of Industry and Tourism released a report on January 10 stating that the import restrictions adopted by the Argentine government in response to the financial crisis ensured the employment of 540,000 people. However, such trade protectionist measures have also been criticized and questioned by Argentina and abroad.
The report points out that the series of import restriction measures adopted by the government since the end of 2008 have played an important role in ensuring the stability of domestic industrial jobs. According to the report, the textile industry is the biggest beneficiary of import restrictions, with 360,000 textile industry workers benefiting from the government’s protective measures.
Argentine Minister of Industry and Tourism Devora George said that import restrictions also promote investment by foreign companies in Argentina. After the government adopted restrictive measures on the import of sports shoes, foreign companies invested more than 80 million US dollars in Argentine sports shoe companies.
The series of import restriction measures adopted by the government caused the country’s import volume to drop significantly year-on-year last year, and was strongly criticized by major trading partners such as the European Union, Brazil, and China.
Argentine importers and some business people have also questioned the government’s trade protection measures, believing that these measures will have a negative impact on the long-term development of the national economy and the improvement of the competitiveness of domestic enterprises.
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