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Source: Fortune Magazine
By: Sorrel Moseley-Williams
It has been a trying period for the country’s winemakers—after peaking at $921 million in 2012, Argentine wine exports fell to $819 million in 2015 according to the country’s INV national wine institute —but following last year’s change of government in the capital of Buenos Aires, the timing is propitious for producers to not only showcase their finest malbecs and other oenological wares, but also to demonstrate that they are very much open for business.
A new leader in the form of right-leaning President Mauricio Macri, elected last November, has already proved to be an ally of the wineries that make Argentina the world’s fifth-largest wine producer. His stated goals of staunching high domestic inflation, calming an ever-weakening peso, and eliminating a hefty wine export duty implemented during former president Cristina Fernández de Kirchner’s term in office are all on the local wine industry’s Christmas list.
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