Federal Official Gazette
On November 3rd, the Secretariat of Economy (SE), published on the portal of the National Foreign Trade Information Service (SNICE), the following relevant information:
BACKGROUND
• On June 28, 2019, the Agreement establishing the mechanism and criteria for the allocation of quotas to export new light motor vehicles to the Argentine Republic was published in the Official Gazette of the Federation, within the framework of the Sixth Additional Protocol to Appendix I on Trade in the Automotive Sector between Argentina and Mexico of ACE 55.
• The ninth point of the Agreement indicates that the companies that are not going to make use of their allocation may make a refund of the total or partial amount, in order to be reassigned.
• The Tenth point of the Agreement establishes the deadlines for returns, indicating as the first cut-off date October 31 of each year, and in case of having returned, recovered and / or unassigned quotas, the Ministry of Economy will give them to be known on the business day following the cut-off date within the electronic address www.snice.gob.mx
Furthermore, by means of official letter No. 415.2020.0125 dated November 3, 2020, the General Directorate of Heavy Industries and High Technology informed the cutoff of October 31, 2020, the amount available to be redistributed among the beneficiary companies is $ 495,772,200 (four hundred ninety-five million seven hundred seventy-two thousand two hundred).
The mechanism for the redistribution of the amount not returned that was mentioned in the previous operative paragraph is established in the eleventh point of the “Agreement establishing the mechanism and criteria for the allocation of quotas to export new light motor vehicles to the Argentine Republic, within the framework of the Sixth Additional Protocol to Appendix I on Trade in the Automotive Sector between Argentina and Mexico of ACE 55 ”published on June 28, 2019.
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