European Parliament proposed to remove trade benefits to Argentina

 

April 20, 2012

 

In a resolution voted by the Parliament of the European Union, member countries proposed to remove the commercial benefits to Argentina for the expropriation of 51% of YPF.

In a document signed today, the European Parliament said it “regrets the Argentine government’s decision to proceed, regardless of a possible negotiated solution, to expropriate most of the actions of a European company; and considers this a unilateral decision and which goes against the arbitrary exercise of free enterprise and the principle of legal certainty, which causes a deterioration in the investment climate for EU companies in Argentina. “

It also requested “the European Council President, the President of the European Commission and the High Representative for Common Foreign and Security Policy to intervene with the Argentine authorities to defend the Community interest and safeguarding the principle of legal certainty has ensure the presence and European investment in the South American country, returning to the path of dialogue. “

He urged “the European Commission and the Council to consider and adopt in defense of European interests necessary measures to prevent the recurrence of situations like the present, including the possibility of a partial suspension of the GSP tariff preferences unilateral” .