LatinNews Daily - 26 June 2023

* Brazil’s international transporters’ association (Abti) has presented a proposal to the Argentine government calling for a reduction in the time required to complete payments and to grant a licence to export goods to Argentina. Under the current system, Argentine companies must complete their payments to Brazilian freight and shipping companies within 90 days, while licences for Brazilian exports can take up to 60 days to approve. Abti has called for the payment time to be reduced to 45 days and for the licencing process to be reduced to 30 days. The president of Abti, Francisco Cardoso, discussed these demands with officials at Argentina’s embassy in Brasília. Cardoso warned that such delays and bureaucratic obstacles could cause many firms to cease their exports to Argentina. The embassy officials said that they would submit Abti’s proposal to Argentina’s economy ministry and highlighted that the Brazilian and Argentine governments are considering a new credit system for Brazilian exports.