BUENOS AIRES – On June 5, 2024, the United States and Argentina concluded the fourth meeting of the Trade and Investment Council under the US-Argentina Trade and Investment Framework Agreement (TIFA). The meeting was chaired by Daniel Watson, Deputy United States Trade Representative for the Western Hemisphere, and the Undersecretary of International Economic Negotiations and Integration of the Ministry of Foreign Affairs, International Trade and Worship of Argentina (MRECIC), Gabriel Martínez. Each party was accompanied by a large interagency team, which included the US Department of Commerce, the US Department of State, the US Department of Agriculture and representatives of the Ministries of Foreign Affairs, Economy and the Secretariats of Mining, Health, Commerce, Bioeconomy, Strategic Regulatory Planning, Labor and the Central Bank of Argentina.
The countries shared their ambition to deepen bilateral trade relations and highlighted the important role of bilateral engagement in diversifying regional supply chains for long-term sustainable growth, including key sectors such as critical minerals. In addition, they discussed the importance of transparency, good governance, high labor standards and environmental sustainability to support trade, investment and workers in both the United States and Argentina. The United States highlighted the fundamental role of these issues in the commercial sphere of the Alliance for Economic Prosperity in the Americas (APEP). Argentina expressed its determination to join that regional effort and the United States welcomed Argentina’s interest in joining and committed to keeping Argentina informed of progress in establishing an expansion mechanism for new members.
During the meeting, they discussed practical steps to advance transparent regulatory processes and simplify border processes. Argentina signaled its intention to convene its National Trade Facilitation Committee (NTFC) and support the Key Principles of Shared Practice of Successful NTFCs in the Trade Facilitation Committee of the World Trade Organization (WTO). . The two countries discussed the importance of full implementation of the WTO Trade Facilitation Agreement and, with a view to its full implementation, both recommitted to reviewing their customs rates and procedures with the aim of reducing time and cost compliance for merchants and operators. Both countries hope to participate in the next meeting on the June 2022 Declaration on Good Regulatory Practice, scheduled for the end of this year. They also discussed issues of the digital economy, including artificial intelligence, cybersecurity and privacy.
The United States and Argentina emphasized the importance of diverse, resilient and high-standard critical mineral supply chains, and committed to deepening cooperation on these issues. Argentina presented the potential of the sector in the country and the investments that are being made, especially in lithium and copper, as well as the country’s interest in playing a leadership role in supply chains related to these minerals. Argentina outlined its intention to explore how trade can support the integration of Argentine products into regional supply chains.
The officials also took note of the agenda of the Innovation and Creativity Forum for Economic Development, which held its eighth meeting from June 6 to 7 in Buenos Aires.
Regarding agriculture, they decided to continue talking about the interests of both parties in terms of market access. They agreed to meet at a technical level in the next quarter to review the status of outstanding issues and continue regular engagement to resolve concerns. Regarding the access of Argentine sweet citrus fruits to the United States, Argentina highlighted its work to comply with the US requirements for sweet citrus imports and that it hopes that the Animal and Plant Health Inspection Service of the Department of Agriculture of the United States (APHIS) will soon publish the Analysis Pest Risk. The two parties also discussed the importance of ensuring that the granting of Geographical Indication protection does not deprive interested parties of the possibility of using common names.
The United States and Argentina look forward to continuing a constructive and open engagement under TIFA in 2024, with the goal of strengthening bilateral and economic ties for mutual benefit. Both countries decided to create a working group on supply chain resilience, with the aim of analyzing capabilities and opportunities to increase trade and investment in sectors of interest to both countries.
The next TIFA Council meeting is planned for 2025.
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This translation is provided as a courtesy and only the original English source should be considered reliable.
