On August 24, 2018, the Federative Republic of Brazil and the Argentine Republic signed in Brasília a Memorandum of Understanding on Technical Regulations of the Automotive Sector. The agreement was signed by the Brazilian Minister of Industry, Foreign Trade and Services, Marcos Jorge, and by the Argentine Minister of Production, Dante Sica, in the presence of the Ministers of Foreign Affairs of Brazil and Argentina, Aloysio Nunes Ferreira and Jorge Faurie of Argentina.
The memorandum establishes a "Working Group on Automotive Technical Regulations," which will analyze equivalences and possible divergences in the technical regulations adopted by Brazil and Argentina in the areas of vehicular safety, noise and air pollutant emissions, energy efficiency and conformity assessment requirements of auto parts. The Working Group will also examine the possibility of mutual recognition of results and propose adequations of norms in the automotive sector of Brazil and Argentina to the Automotive Committee, a deliberative body made up of representatives of the governments of the two countries.
The signing of the Memorandum of Understanding is an important step in the efforts of both countries to promote bilateral regulatory convergence in the automotive industry.
Brazil is the main destination of Argentine exports and its main source of imports. Argentina is the third destination of Brazilian exports and the third source of Brazilian imports. The automotive industry plays a major role in the trade flows of goods between the two countries.