Trade relations and statistics
Argentina, Brazil, Paraguay and Uruguay are members of the Southern Common Market (Mercosur). Chile and Bolivia have recently adhered as partners, and may become full members, although the timing will depend on the negotiations for Americas Free Trade Association. Mercosur represents a potential market of 200 million people and a joint GDP of more than US$1 trillion, which places it among the four largest economies of the world after NAFTA, the European Union and Japan.
Members of Mercosur pay no duties on virtually all items with the exception of specifically negotiated items, such as cars, shoes, sugar cane, poultry and pig meat.
Bilateral tariff preference agreements exist between the 11 Latin American member countries of the trade group Latin American Integration Association (LAIA).
The LAIA has a flexible mandate to establish, in a gradual and progressive manner, a Latin American common market.
Argentina is a member of the Cairns Group, which was established by major agricultural exporting countries (including Australia) that do not subsidise these exports. The Cairns Group strives to bring about reforms in international agricultural trade, including reductions in export subsidies, barriers to access, and internal support measures. It also represents its members' interests in GATT negotiations.
Although an industrialised country, Argentina's major export commodities continue to include agricultural products, minerals, and fats and oils.
Please see the Department of Foreign Affairs and Trade country economic fact sheet for key trade statistics.
|