Brazil and Argentina agreed to extend the 38th Additional Protocol of the 14th Economic Complementation Agreement, known as the Common Automotive Policy, from July 1st 2015 to June 30th 2016.
All the provisions of the Common Automotive Policy, including the modifications brought by the 40th Additional Protocol remain unchanged.
Through the 41th Additional Protocol, Brazil and Argentina agree to conclude, before 30 April 2016, the negotiations to develop a new agreement on the trade of Automotive Products starting from July 01, 2016.
The negotiations for the elaboration of the new agreement will be performed under the Automotive Committee, set out by Article 23 of the Common Automotive Policy, and based on the Work Plan included as Annex I of the 40th Additional Protocol.
The new Additional Protocol has already been deposited with ALADI (Latin American Integration Association) and will enter into force as soon as Brazil and Argentina finish their internal procedures for approval. In Brazil, it will be necessary to publish a specific decree to approve the 41st Additional Protocol under the Brazilian law.
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