BUENOS AIRES, March 9 (Xinhua) -- Argentine President Alberto Fernandez on Tuesday signed a decree that eliminates export taxes on 2021 automobile sales abroad that exceed those of 2020, in a bid to boost the productive sector.
"Automotive activity is, in industrial terms, a kind of flagship for us, so it has to work very well, it has to produce and grow a lot," Fernandez said during a ceremony at Government House.
Argentina is enjoying "a higher percentage of national automobile production. That not only generates production and work, but also prevents us from importing and thereby losing foreign currency, which today we must preserve," Fernandez added, according to a statement released by the presidency.
A January report by the Automotive Manufacturers Association (Adefa) showed Argentina exported a total of 137,891 cars and light commercial vehicles in 2020, a decrease of 38.5 percent compared to 2019, when 224,248 units were exported.
The sector generates 130,000 formal jobs and represents 7 percent of gross industrial output, the presidency said. Enditem
