Wal-Mart To Help Companies In Argentina Export $150M In 2011

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articlenopicBy Taos Turner for Wsj.com

The Argentine arm of global retail giant Wal-Mart Stores Inc. (WMT) has pledged to help companies here export $150 million in locally made products this year.

Wal-Mart will help the companies sell goods such as Malbec red wines through its vast network of retail outlets in the U.S. and around the world, the Industry Ministry said in a statement late Thursday.

Wal-Mart Argentina President Ezequiel Gomez Berard met with President Cristina Fernandez and Industry Minister Debora Giorgi on Thursday to discuss the plan and Wal-Mart's efforts to incorporate local products into its local and international retail business.

"With this agreement, small and medium-sized Argentine companies can sell--in some cases for the first time--in other markets with the help of a global company like Wal-Mart, which understands and accompanies our industrial policies" Giorgi said in the statement.

A Wal-Mart spokesman confirmed the plans.

Wal-Mart has been working with local wine producers since at least...Read full article

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