Argentina government, unions agree on deal to boost car production

BUENOS AIRES, March 15 (Reuters) – Argentina has reached a deal with labor unions aimed at increasing car production to one million per year by 2023, President Mauricio Macri said on Wednesday, as part of his drive to increase investment by reducing high labor costs.

The pact took months to negotiate and should create 30,000 jobs between now and the expiration of the deal in 2023, Macri said in a press conference.

“We want our auto parts industry to become part of the global added-value chain,” he said.

Auto production in Argentina hit a record 828,771 vehicles in 2011. Since then it has fallen steadily…