Argentina welcomes investment at independence celebration

The Argentine Embassy last week marked the country’s 200th anniversary of independence and its resurgence as a reformed economy at a reception in Seoul.

On July 9, 1816, the country adopted a resolution declaring Argentina’s independence from colonial Spain and creating the Argentine Republic under the name “The United Provinces of the River Plate.”

“During the last two centuries we have matured as a nation and society, gaining the wisdom that age and experience bring,” Argentine Ambassador Jorge Roballo said in a speech. “Yet we have also kept the strength and idealism of a young and prosperous republic.”

Over the last 40 years, he added, Argentina has played a relevant role in regional and international affairs, leading the continental integration, defending international peace and security, promoting social justice and human rights and strengthening its democratic institutions. 

Highlighting his country has abundant natural resources, highly diversified industries and a well-educated population of 43 million people, the ambassador said that the new administration of President Mauricio Macri has undertaken various reforms to correct the country’s macroeconomic imbalances and improve its investment climate.

The government has adopted measures to control inflation; remove taxes on the export of select agricultural products such as beef and corn; reduce import restrictions; lift currency controls; and it has also reached deals with most creditors to exit sovereign default and reenter the global capital market, he said.

Pointing out that POSCO is operating mining business in the northern provinces and Samsung Electronics has expanded manufacturing projects across the country, the envoy encouraged more investment from Korea.

Recent high-level visits to Korea include that of Argentine Vice President Gabriela Michetti in early May and Minister for Modernization Andres Ibarra, who signed a memorandum of understanding for cooperation on e-government with Korea’s Interior Minister Hong Jun-sik.

The next high-level political consultation involving foreign ministers of both countries will take place in the near future in Buenos Aires, he said, adding it will boost the anticipated Joint Economic and Commercial Meeting in Seoul this year.

Argentina and Korea established diplomatic ties in 1962, and since then have enjoyed “deep fraternal relations,” aided by some 30,000 Koreans who immigrated to Argentina since 1965, according to Roballo. Last September in Buenos Aires, some 100,000 ethnic Koreans and Argentines celebrated the 50th anniversary of immigration.

By Joel Lee (joel@heraldcorp.com)