13 December 2012 23:14 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--The gross production value of Argentina’s chemical and petrochemical industries in the first ten months of 2012 stood at $19.2bn (€15.0bn), an increase of 3.5% year on year, the country’s industry ministry said on Thursday.
The sectors’ joint trade deficit in the January-October period stood at $2.8bn, down by 12% compared with the same period in 2011, the ministry said.
“We are ending 2012 with leading industries that are flourishing in an adverse international context,” said ?xml:namespace>
The government-backed 2020 Strategic Industrial Plan was launched in 2011 and aims to reduce imports by 45%, increase production in ten key sectors, including chemicals and petrochemicals, and reduce the unemployment rate to 5%
By 2020 the industries will be enjoying a trade surplus of $200m, with exports projected to reach $7.5bn and imports reduced to $7.3bn.
These goals could be attained by identifying gaps in the market, developing products for future demand, such as non-conventional oil and gas, and seeking opportunities in emerging markets, the ministry said.
The Argentine government would provide specific financial instruments to support industry investment, the ministry added.
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