Sunday 19 May 2013
Mexico City— Argentina’s unilateral decision to suspend the Economic Complementation Agreement (ACE 55) with Mexico will have a negative impact on Mexico’s automotive industry for around US$750 million this year. This was informed by Eduardo Solis Sanchez, Chairman of the Mexican Automotive Industry Association, Asociacion Mexicana de la Industria Automotriz (AMIA), who further discussed the possibility that the Mexican government considers applying countervailing measures for the economic damage caused by Argentina to Mexico.
In an interview, he explained that exports to Argentina last year reached around US$900 million, with the sale of 31,500 vehicles.
For 2012, he added, a decrease in sales to Argentina was estimated to 25,500 units, which led to a drop in exports from US$900 million to around US$750 million.
That is the number of vehicles assemblers installed in Mexico would stop exporting to Argentina, Solis pointed-out, and further said that businessmen in the sector are still expecting the Argentinean government will change its mind.
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