He played an active role in the privitization of Argentine industry.

One problem was that until recently, research was almost nonexistent, reflecting the near refusal of Argentine industry to disclose information.

The law faces a powerful Argentine pharmaceutical industry with sales of more than $2 billion that has exerted broad influence on Congress.

Menem is also seeking to increase its exports, as is the rest of the Argentine industry.

Also, export figures for 1988 and the first quarter of 1989 show that Argentine industry, long accustomed to producing for the protected internal market, is finally finding markets abroad.

Otto Bemberg (May 1, 1827-March 2, 1896) was a German Argentine businessman prominent in the development of early Argentine industry.

"It will make Argentine industry more efficient competing with Brazil and equalize the situation given the lower value of the real."

Martínez de Hoz was forced to rely on high interest rates and an over-valued exchange rate to control inflation, which hurt Argentine industry and exports.

Perhaps most threatening for both the Menem Government and Argentine industry is the idea that strong environmental enforcement measures could jeopardize the country's remarkable economic turnaround.

It was hoped that European technology could stimulate Argentine industry so the country could produce its own armaments in the future.