U.S.-Argentina Commercial Dialogue Deepens Trade Relations

U.S. Secretary of Commerce Penny Pritzker joined Argentina’s Minister of Production and Commerce Francisco Cabrera today to co-chair the inaugural meeting of the U.S.-Argentina Commercial Dialogue (Dialogue). Announced in March during President Barack Obama and Secretary Pritzker’s visit to Buenos Aires, the Dialogue will strengthen the economic and commercial ties between the two nations by identifying pragmatic steps both governments can take to promote economic prosperity.    

“Our goal is to ensure that the next chapter of the U.S.-Argentina economic relationship is guided by the priorities of our respective business communities,” Secretary Pritzker said. “Minister Cabrera and I have identified actions our governments can take to improve our commercial relationship and remove the obstacles that inhibit increased bilateral trade and investment. This level of unprecedented cooperation can make the U.S.-Argentina economic relationship one of the most significant of the 21st century.”

Secretary Pritzker and Minister Cabrera agreed to focus on the following priorities to advance bilateral trade and investment between the United States and Argentina: trade facilitation, good regulatory practices, economic development, trade remedies, and investment promotion.

There are currently more than 400 U.S.-based companies operating in Argentina, employing 170,000 Argentines in the energy, manufacturing, information technology, and finance sectors.   In 2015, the total stock of Argentine foreign direct investment in the U.S. economy was nearly $3.8 billion (ultimate source basis), and the total stock of U.S. foreign direct investment in Argentina was $13.3 billion. 

For more information, please see the U.S.-Argentina Commercial Dialogue Joint Statement and Secretary Pritzker's remarks.