The only way is honesty

The only way is honesty

The president of the Argentine Industrial Union (UIA), Daniel Funes from Rioja, stated that there is expectation for the change of government. Although he mentioned that there will be a first stage of stagflation, as the president-elect proposed Javier Mileiassured that “the only way is honesty” of prices.

In dialogue with the media at the end of the annual convention held by the UIA at the Buenos Aires Convention Center, he revealed what are the topics that are being worked on with the technical teams of the next government and anticipated that The European Union-Mercosur agreement could be signed in less than a week.

Resilience and sincerity

Diana Mondinofuture chancellor of the LLA government, spoke on stage during the convention and asked businessmen to “last 6 months”, so that Argentina later becomes “the best country in the world.” This is the expectation of industrialists starting December 11, but they consider that there is no other way.


Funes de Rioja stated: “The honesty of the costs will be reflected in the prices, to the point that the market accepts, because no one produces to be left hanging on a gondola. There is going to be a period of crunch and tension, but the only way is that sincerity, handled prudently.”

Regarding the first months of the Milei government, the president of the UIA anticipated that they will be recessive, and called for containment policies: “At least for the first half of 2024, it is necessary that we look for mechanisms that mitigate the impact of a combination of measures that will generate some recession, at what level, the circumstances will tell, but to try to alleviate the effects on consumption, access to food and basic goods, and, on the other hand, so that we can sustain the existing productive network.”

Asked about the industry’s strength to endure this period, which is expected to last about 6 months, the labor lawyer answered with a metaphor: “More than back, I would say that we have an attitude, because attitudinally we all know that in Argentina we have to make changes, it’s like going to the dentist, you know it’s going to hurt, but they are necessary steps. Up to what point? “We want dialogue and for them to listen to us.”

Embed – 29th UIA Conference under the motto “There is industry, there is a future”

Why wasn’t Milei?

Funes de Rioja closed the meeting on stage with Guillermo Francos, Milei’s future Minister of the Interior. There he assured that there is “industrial expectation” for the arriving Government, that they are “anxious” to see the program, he asked that the industry not be left out and anticipated: “We all know that sacrifices have to be made, but we are not going to stop saying what we think.”

Unlike 2015 and 2019, where the last two elected presidents attended (Mauricio Macri and Alberto Fernández, respectively), this year Milei did not participate, although he was invited. Asked if there was a rudeness, Funes de Rioja replied: “I’m going to be very clear. Milei offered to come to the UIA in July, before the PASO, but we told him that we were going to receive the candidates who passed the primaries. From that moment on everything was very dizzying, inviting him was not easy, but I am vice president of Cicyp, and when he went, we sat next to him at the table, so downshift”. In addition, he highlighted that he sent an important part of his future cabinet, such as Francos, Mondino, and Federico Ovejero, possible Secretary of Industry.

Imminent Mercosur-European Union agreement

Funes de Rioja revealed that there are various topics that they discussed with Milei’s technical teams, and that all their proposals, in terms of labor, tax or financial changes, are those that appear in the UIA White Paper. Regarding the emergencies to be resolved, he referred to two points. On the one hand, the growth of commercial debt, today at US$40 billion: “We need conditions for a predictable schedule.” Last week Diana Mondino was at the UIA and they talked about this topic, without conclusions.

On the other hand, for the Mercosur-European Union agreement to be signed. “We spoke with the new government to tell them that we consider Brazil to be important for the industry. We believe in a Mercosur that is more agile. We must sign the agreement with the European Union, there are still things to negotiate, but we have to see that Spain presides on the European side until December 7, it is one of the best opportunities, which is why we are speaking with the Argentine government to tell you, this has to be the 7th”. During his presentation, Mondino also demanded that the current president, Alberto Fernández, sign the agreement.

Funes de Rioja used the promotion of this agreement to reject criticism that the industry opposes economic opening, and on the contrary responded: “What we believe in is an intelligent opening, which is a round trip. It is not that we want protection, but rather that asymmetries be corrected.”

Regarding LLA’s decision not to join the invitation to the BRICS, he concluded: “I would not mix the ideological with the commercial.”

Source: Ambito

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