Argentina's Trade Simplification: A Bid for Economic Boost

The Argentine government is introducing measures to streamline trade operations, aimed at enhancing the country's exchange rate against the US dollar. The regulation will remove certain import pricing requirements and a fiscal stamp, potentially boosting export profitability by 1% while slightly reducing importer profits.

Argentina's government has unveiled new measures designed to streamline and simplify trade operations across the country. The move is seen as a strategic attempt to bolster Argentina's exchange rate against the U.S. dollar, according to the country's ministry of deregulation and state transformation.

The key changes include the removal of a requirement for some imports to be priced to market and the elimination of a fiscal stamp from the tax agency AFIP. Official assessments suggest exporters could see a 1% increase in profitability, whereas importers might experience a 1% decline in their margins.

Federico Sturzenegger, the minister of deregulation, emphasized reducing burdensome state bureaucracy: "The State shouldn't act with the mindset that everyone is a criminal." Meanwhile, AFIP head Florencia Misrahi assured that customs controls would remain unchanged, focusing only on necessary aspects. Detailed text of these regulations will be published in the nation's Official Gazette on Wednesday.

(With inputs from agencies.)