One of the priorities of the meeting between the Brazilian and Argentine presidents Michel Temer and Mauricio Macri, to be held this Monday (3) in Buenos Aires, is to promote the resumption of investments between the two countries.

The 130+ Brazilian companies installed in the neighbouring country represent about US$ 12 billion in investments, covering industries such as mining, steel production, food, banking, automotive and textile.

The president of Grupo Brasil, João Carlos Pecego, said the scenario is favourable for investments, and that the next step is to create Argentine and Brazilian multinational companies that can explore bilateral trade and joint production for exports to other countries.

“If Brazilian businesspeople come to Argentina proposing business partnerships, that is, not just for exporting finished products but rather to be part of Argentina's production, I have no doubt that this new administration by President Macri will greatly support these Brazilian companies," said Pecego, who is also the president of Banco da Patagonia (Banco do Brasil holds a 60% stake in the bank).

Grupo Brasil is an entity that represents the sixty largest Brazilian companies doing business in Argentina, as well as some Argentine companies doing business in Brazil. According to Pecego, the institution's companies are directly responsible for generating about 40,000 jobs in the neighbouring country.