Argentina paradox: Exchange of Porsche for wine

Tuesday, 05. April 2011 | 07:21 Uhr | RED.YOOPRESS | ODDITIES
Translator: C.SIEGEL
2011_04-weinporsche
Porsche importer has to exported wine (Photo: Porsche)

ARGENGINA (Buenos Aires) - With arbitrary methods, Argentina is trying to polish their trade balance. For every single Porsche that is imported to the South-american country, several hundred bottles of red wine have to be exported. According to the Buenos Aires government, the national importer of German luxury cars, namely the Polenta Group, has signed a contract to do exactly that.

However, this contract was not signed voluntarily. The Argentina government had seized thousands of luxury cars, mostly German cars, in customs. They were not released until the importing countries agreed to import goods of the same amount as the cars. The Polenta Group thus had to agree to this redwine export, since big wineries are also part of their portfolio.

Volkswagen, however, is rather relaxed when it comes to this agreement - since they are making their new pickup "Amarok" in Argentina, which they of course won't have to export then. Also, VW was able to forecast an export surplus of 384 million Euro. Thus, companies who do not produce in Argentina, unlike VW, or who do not have an export surplus, will be hit particularly hard by this.

Imported goods like electronics, agricultural products and food will also be subject to this rule. Thus, notebooks, printers, tractor-trailers and lawnmowers as well as vegetables and fast food products will remain in customs. Argentina's justification for this is simple: Their consumers could buy Argentina products instead. The fact, however, that their qualities are not as high as the imported good's qualities does not impress the government.(red.yoopress)

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