Argentina, Brazil Deepen Collaboration

December 2, 2014

Brazil and Argentina have agreed to hold monthly meetings to push forward the integration of trade, economic, political and institutional matters and multilateral cooperation between them, Argentina's Ministry of Economics reported in a Nov. 27 press release following a meeting between top officials of the two countries.

The deepening strategic coordination with Argentina evidenced here, along with the Rousseff government's commitment to deepening ties with the BRICS also, reflect the strategic counterpole in Brazilian policy, with which the newly-named orthodox monetarist economic team will have to contend. This is crucial, as cooperation between Brazil and Argentina, the two industrial powerhouses of South America, is key to the integration of the region as a whole.

Argentina's Economics Minister Axel Kicillof and Presidential Chief of Staff Jorge Capitanich traveled to Brasilia Nov. 27, to meet with President Dilma Rousseff's Chief of Staff, her International Affairs Advisor, the Foreign Minister and Deputy Treasury Minister. That high-powered meeting was a continuation of discussions between those two Argentine officials and President Rousseff on the sidelines of the G20 summit in Australia last month, on the benefits of greater integration of investment, trade and production.
"The productive economies of both countries are already inter-connected, with many industries already operating on both sides of the border,"
Kicillof had emphasized to President Rousseff in Australia.

The decision now to hold monthly meetings, and to use special software to track the details of their cooperation, stems from the agreement that a "joint strategy of productive integration is the best path to benefit the industrial production and trade of both countries," the Argentine Economic Ministry statement notes. Strategies for the productive integration of auto, steel, maritime, air navigation industries, were specifically taken up in Brasilia.