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Entrepreneurs and governmental officials of Argentina visit London seeking 1 billion GBP-investment.

 

TCM ARGENTINA NEWS

May 13, 2019

 

This trip was organized by the British Argentine Chamber of Commerce (CCAB in Spanish). A group of Argentinians will travel to London in order to strengthen the commercial relationship between both countries, which is almost insignificant at the moment: Great Britain was the destination of a little more than 1% of Argentina’s total exports, while less than 1% of Argentina’s total imports comes from Great Britain.

Great Britain has the UK Export Finance; a governmental agency granting loans for British investments abroad. This agency recently authorized a loan that amounts to 1 billion pounds to boost the economic activities of the British companies in Argentina. Argentinian entrepreneurs and governmental officials are going to seek such funds.

Some of the British companies established in Argentina are HSBC, Shell, Pan American Energy, British American Tobacco, Aggreko, Unilever, PwC, Deloitte, BP and Marval, O'Farrell & Mairal.

This will be the third business trip, that will take place between the next 21st and 23rd, after the first one in 2017 for the purpose of fostering dialogue. “The mission 2018- composed of 60 entrepreneurs and 20 national and state officials- laid the groundwork for continuing working hard on sectorial agendas”, the representatives of CCAB said. The sectors represented this year were: energy, oil and gas; mine; finance and infrastructure; agro-industry; knowledge-driven economy and market access.

In order to draw British companies’ interest, on May 21st a seminar will be held at the residency of the Argentinian Ambassador in London, where officials and entrepreneurs will expose the country’s situation effect on the fields of interest. Among the attendants that confirmed their presence are Dante Sica (Minister of Production and Labor), Gustavo Lopetegui (Secretary of Energy), Luis Etchevere (Secretary of Agroindustry), Jose Luis Morea (General Manager of the Bank for Investment and Foreign Trade) and Pablo Quirno (former director of the Central Bank and Luis Caputo’s right-hand man).

In the finance sector, the country will look for investments for the publicprivate participation (PPP) projects. "The PPP in Argentina results will be presented, and the action plans needed for this new complex stage, in which the finance of projects plays a key role”. The representatives of CCAB said.

In the agro-industry sector, Argentina will search to sell more beef to Great Britain. "United Kingdom was during five decades the main market for Argentine Beef, and today is a great consumer of beef, but imports almost exclusively from Ireland. It is a very interesting market to reintroduce meat from Argentina, especially after the Brexit", they pointed out.

The next day, another seminar will take place, but focused on Vaca Muerta, the main attraction point the country has today, with the objective to “match British companies willing to participate with planned exploration and exploitation projects, including the renewable energies ones”.

Among the countries participating, are: YPF , Pan American Energy, Shell Argentina, Pampa Energía, Vista Oil & Gas, TGS, TGN, Tecpetrol and Gas y Petróleo del Neuquén. In addition to the international service companies Schlumberger, Halliburton y Baker Hughes; and the Secretary of Energy, Gustavo Lopetegui, and the Governor of Neuquén, Omar Gutiérrez.

That same day, other topics in the agenda will be the opportunities in the mining sector. "The objective is to attract large British Mining operators, as Argentina has several copper projects to be developed, that due to the size, requirements in infrastructure, technology and financing will be attractive for large operators. Moreover, the potential in the country in the lithium mining, as necessary factor for the development in the production of electrical vehicles”, indicated the representatives of the CCAB.

Copyright: https://www.lanacion.com.ar/economia/empresarios-funcionarios-argentinos-viajanlondres- busca-atraer-nid2245832

Picture Credit: Shutterstock

 

TCM ARGENTINA – SINTESIS S.R.L.

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