ANNOUNCED AS TEMPORARYNo
On 13 February 2015, the government of Argentina announced the creation of the Programme for the Competitiveness of Regional Economies known as PROCER (Programa de Competitividad de Economías Regionales).The core scope of PROCER is to increase the economic productivity of the provinces of Buenos Aires, Cordoba, Santa Fe and the Autonomous City of Buenos Aires.
The methods through which PROCER intends to accomplish its elaborated scope are:
Furthermore, it is important denoting that the PROCER is aimed to exclusively support the following sectors: textile (cotton), beekeeping and agriculture (with specific emphasis on vegetables, fruits and olive growing).
NB: The tariff lines relating to the agricultural sector were selected based on trade flows associated with the fruits and vegetables in the specified Argentinian regions.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
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