Bucking the general trend of the global financial crisis, Argentina is set to reach a historic trade surplus this year of about US$18 billion, a government official said on Sunday.
“In the middle of the general crisis, Argentina has a trade balance surplus,” Argentine Deputy Secretary of Regional Integration Eduardo Sigal told El Mundo radio.
Sigal expressed doubt at the private sector’s estimates of US$15 billion.
“My estimates say that we will end up with a surplus of between US$17 billion and US$18 billion,” he said.
The official said Argentina recorded a low trade volume of US$100 million in 2002, which soared to US$1.45 billion last year.
Agreements signed last week between Argentine President Cristina Kirchner and Venezuelan President Hugo Chavez would add another US$1.1 billion to trade volume this year, Sigal said.
Trade with Venezuela, he added, would increase not only for food products but also in the auto sector, with Caracas set to purchase up to 10,000 vehicles from Argentina and for agricultural machinery and milk-processing tanks.
The auto import deal came after Chavez made good on a threat to scuttle an agreement previously granted to Colombia in favor of other trade partners, after Bogota charged that Venezuela was supplying weapons to the Revolutionary Armed Forces of Colombia, a leftist guerrilla group.
Meanwhile, Argentine Foreign Minister Jorge Taiana was to begin a trade visit to Mexico yesterday accompanied by private entrepreneurs.
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