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Argentina

Argentina

The relations between the EU and Argentina are governed by the Framework Trade and Economic Co-operation Agreement, which entered into force in 1990. The follow-up of this agreement entails regular meetings of the EU-Argentina Joint Commission, including on trade matters.  This Commission meets normally every 2 years, most recently in September 2010.

As a member of Mercosur, Argentina is also party to the EU-Mercosur Framework Co-operation Agreement signed in 1995, which includes provisions on trade cooperation.  Argentina is also part in the on-going negotiations of an EU-Mercosur Association Agreement.

Recently, bilateral relations with Argentina have been marked by growing number of trade irritants and deteriorating investment climate in Argentina. The EU, together with Japan and the US, launched WTO Dispute settlement proceedings on Argentina’s import restrictive practices.  WTO panel proceedings are ongoing.

Trade picture

  • The EU is Argentina's largest trade parter after Brazil, accounting for more than 16% of total Argentine trade in 2013. In 2012, EU-Argentina total trade amounted to 18.3 billion.
  • Argentina exports primarily agricultural products (73%) and raw materials (11% ) to the EU (2013 data).
  • The EU exports to Argentina mainly manufactured goods, such as machinery and transport equipment (46%) and chemicals (18%) to Argentina (2013 data).
  • Exports of services to Argentina has increased over the last few years, from €3 billion in 2010, to €3.7 billion in 2012.

EU-Argentina "trade in goods" statistics

Trade in goods 2011-2013, € billions
Year EU imports EU exports Balance
2011 10.7 8.3 -2.4
2012 10.0 8.6 -1.4
2013 8.1 10.0 1.9

EU-Argentina "trade in services" statistics

Trade in services 2010-2012, € billions
Year EU imports EU exports Balance
2010 2.1 3.3 1.2
2011 2.2 3.4 1.3
2012 2.3 3.7 1.4

Foreign direct investment

Foreign direct investment 2012, € billions
Year Inward stocks Outward stocks Balance
2012 0.2 30.7 30.5

More statistics on Argentina

EU and Argentina

The EU regards Argentina as an important trading partner: commercial trade and investment has been growing but there are concerns that the trade and investment climate is deteriorating.

The Framework Trade and Economic Cooperation Agreement is managed through periodic meetings of the EU-Argentina Joint Cooperation Committee, including one part on trade matters. Several meetings of the Joint Cooperation Committee have been hold, with the last meeting in Brussels in October 2010.

Nonetheless, EU companies and investors face certain difficulties in doing business with Argentina:

Argentina does no longer benefit from trade preferences with the EU under the GSP scheme as of 1 January 2014 due to its classification as high middle-income country.

Argentina in Mercosur

Mercosur is an economic and political agreement between Argentina, Brazil, Paraguay, Uruguay and Venezuela. A full customs union, Mercosur's purpose is to promote free trade and the fluid movement of goods, people, and currency.  

An EU-Mercosur Association Agreement would greatly remove tariff and non-tariff barriers to trade between the EU and Argentina and the other Mercosur countries.

More information on Mercosur

Trading with Argentina