Devry Boughner Vorwerk Participates in Q&A on Argentina-Brazil Trade Deal
Devry Boughner Vorwerk, senior policy advisor at Akin Gump, participated in the Latin America Advisor Q&A “Will a New Accord Boost Argentina-Brazil Trade?” Vorwerk was asked about the importance of bilateral trade ties between the two countries and how their efforts compare to those of the Pacific Alliance nations.
Vorwerk said bilateral ties between Argentina and Brazil “are critical to the economic performances of both economies. Brazil is Argentina’s top export market, and Argentina is third for Brazil.” If implemented appropriately, she notes the new trade agreement “has the potential to significantly reduce the cost of doing business across the border.”
Speaking further about the agreement, Vorwerk said it signifies “a willingness by both leaders to liberalize their economies, which is refreshing. … While it was a small step, Brazil and Argentina stepping up to the ‘trade plate’ heightens awareness among Mercosur partners of the benefits of reducing hidden barriers.”
Vorwerk described the Pacific Alliance, composed of Chile, Colombia, Mexico and Peru, as “the gold star” regarding trade liberalization in Latin America. She noted that with Uruguay possibly joining the group and with Paraguay “becoming more forward-leaning on trade, the region is slightly leaning toward a more integrative model.” While Venezuela remains an “outlier,” Vorwerk said it is important for now to commend the leaders of Brazil and Argentina “on a job well done.”