Country Feature: Argentina

December 30th, 2020 by MASSA in 2020 - December Issue, News

A R G E N T I N A

Argentina Flag

Coat of arms

Argentina is located at the southern of the South America continent

Buenos Aires, capital of Argentina

General Information

Capital and largest city:	Buenos Aires
Geography:	– Southern South America, bordering the South Atlantic Ocean, between Chile and Uruguay -Second-largest country in South America (after Brazil)
Geographic coordinates:	34 00 S, 64 00 W
Head of Government:	President Alberto Angel FERNANDEZ (since 10 December 2019); Vice President Cristina FERNANDEZ DE KIRCHNER (since 10 December 2019)
Population:	45,479,118 (July 2020 est.)
Major urban areas – population:	15.154 million BUENOS AIRES (capital), 1.573 million Cordoba, 1.532 million Rosario, 1.173 million Mendoza, 986,000 San Miguel de Tucuman, 884,000 La Plata (2020)
Independence Day:	9 July 1816 (from Spain)
Language:	Spanish (official), Italian, English, German, French, indigenous (Mapudungun, Quechua)
Religion:	Nominally Roman Catholic 92% (less than 20% practicing), Protestant 2%, Jewish 2%, other 4%
Total Area: Land: Water:	2,780,400 sq km 2,736,690 sq km 43,710 sq km
Land boundaries:	11,968 kg
Border countries (5):	Bolivia 942 km, Brazil 1263 km, Chile 6691 km, Paraguay 2531 km, Uruguay 541 km
Coastline:	4,989 km
Climate:	Mostly temperate; arid in southeast; subantarctic in southwest
Natural resources:	Fertile plains of the pampas, lead, zinc, tin, copper, iron ore, manganese, petroleum, uranium, arable land
Religions:	Nominally Roman Catholic 92% (less than 20% practicing), Protestant 2%, Jewish 2%, other 4%
Major urban areas – population:	15.154 million BUENOS AIRES (capital), 1.573 million Cordoba, 1.532 million Rosario, 1.173 million Mendoza, 986,000 San Miguel de Tucuman, 884,000 La Plata (2020)
GDP (purchasing power parity): GDP (official exchange rate): GDP – real growth rate: GDP – per capita (PPP): GDP – composition, by sector of origin	$922.1 billion (2017 est.) $637.6 billion (2017 est.) -2.03% (2019 est.) $20,900 (2017 est.) -agriculture: 10.8% (2017 est.) -industry: 28.1% (2017 est.) -services: 61.1% (2017 est.)
Agriculture – products:	Sunflower seeds, lemons, soybeans, grapes, corn, tobacco, peanuts, tea, wheat; livestock
Industries:	Food processing, motor vehicles, consumer durables, textiles, chemicals and petrochemicals, printing, metallurgy, steel
Life expectancy at birth: Total population: Male: Female:	77.8 years 74.7 years 81.1 years (2020 est.)
National holiday:	Revolution Day (May Revolution Day,25 May (1810)
Currency:	Argentine Peso (ARS)
International Country Code:	+54
Internet Country Code:	.ar
Time Zone:	GMT-3

Source:

1. CIA World Factbook, South America: Argentina –

https://www.cia.gov/library/publications/the-world-factbook/geos/ar.html

2. The World Bank, Argentina Overview – https://www.worldbank.org/en/country/argentina/overview#1

Argentina, officially the Argentine Republic, is the second-largest country in South America (after Brazil) located in the mostly southern half of South America. Sharing the bulk of the Southern Cone with Chile to the west, the country is also bordered by Bolivia and Paraguay to the north, Brazil to the northeast, Uruguay and the South Atlantic Ocean to the east, and the Drake Passage to the south.

With a mainland area of 2,780,400 km² (1,073,500 sq mi), Argentina is the eighth-largest country in the world, the fourth largest in the Americas and the largest Spanish-speaking nation by area. Argentina is subdivided into twenty-three provinces and one autonomous city, Buenos Aires, which is the federal capital of the nation. The provinces and the capital have their own constitutions, but exist under a federal system. Argentina claims sovereignty over part of Antarctica, the Falkland Islands , and South Georgia and the South Sandwich Islands.

Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Although one of the world’s wealthiest countries 100 years ago, Argentina suffered during most of the 20th century from recurring economic crises, persistent fiscal and current account deficits, high inflation, mounting external debt, and capital flight.

In 2017, Argentina’s economy emerged from recession with GDP growth of nearly 3.0%. The government passed important pension, tax, and fiscal reforms. And after years of international isolation, Argentina took on several international leadership roles, including hosting the World Economic Forum on Latin America and the World Trade Organization Ministerial Conference, and is set to assume the presidency of the G-20 in 2018.

Argentina is one of the largest economies in Latin America with a Gross Domestic Product (GDP) of approximately US$450 billion.

Argentina has vast natural resources in energy and agriculture. Within its 2.8 million square kilometers of territory, Argentina is endowed with extraordinary fertile lands, gas and lithium reserves, and has great potential for renewable energy. It is a leading food producer with large-scale agricultural and livestock industries. In addition, Argentina has significant opportunities in some manufacturing subsectors, and innovative services in high tech industries.

However, the historical volatility of economic growth and the accumulation of institutional obstacles have impeded the country’s development. The COVID.-19 pandemic and social isolation as a way to combat it aggravated the situation. Urban poverty in Argentina remains high and in the first semester it reached 40,9% of population, while extreme poverty increased to 10,5% and children poverty rose to 56,3%.

After two years of recession and strong economic weaknesses, the impact of COVID-19 has been significant in Argentina. To counteract the impacts of the crisis, the Government has implemented a package of emergency measures to protect the most vulnerable groups and help companies during the social isolation. This program has a high fiscal cost, which is expected to bring the fiscal deficit in 2020 to more than 10% of GDP (the highest in more than three decades).

Domestic economy continues to show strong macroeconomic imbalances. Annual inflation, although it has slowed since the beginning of the year, is still above 40%, despite price controls.

The Government has managed to conclude the process of restructuring all its debt in foreign currency (both local and external), significantly improving the maturity profile for the next eight years. In turn, the authorities have formally begun to talk with the International Monetary Fund to agree a new program for the maturities of the Stand-By loan in the next 3 years.

Source:-

1. CIA World Factbook, South America: Argentina –

https://www.cia.gov/library/publications/the-world-factbook/geos/ar.html

2. The World Bank, Argentina Overview – https://www.worldbank.org/en/country/argentina/overview#1

(1) MATRADE webinar on “Malaysia and Argentina:

Strengthening Bilateral Trade & Investments in

the New Normal” on 14 October 2020

The Embassy of the Argentine Republic in Malaysia in collaboration with The Ministry of International Trade and Industry (MITI) Malaysia, Malaysia External Trade Development Corporation (MATRADE), Malaysian Investment Development Authority (MIDA) and The Ministry of Foreign Affairs, International Trade and Worship, Argentina jointly organised a webinar on “Malaysia and Argentina: Strengthening Bilateral Trade & Investments in the New Normal“.

The objectives of the webinar were:-

(1) To promote trade and investment opportunities between Malaysia and Argentina.

(2) To provide an update on the current market situation due to the COVID-19 pandemic.

This webinar was hosted by Madam Nor Hasnah Badroddin, Senior Director, Bilateral Economic and Trade Relations Division, MITI, Malaysia.

The following 4 sessions were held at the webinar which included –

Session 1: Introductory Remarks

(1) Mr Hairil Yahri Yaacob

Deputy Secretary General of Trade

Ministry of International Trade and Industry (MITI), Malaysia

(2) H.E. Ambassador Carola Ramon-Berjano

Undersecretary of Multilateral and Bilateral Economic Negotiations

Argentine Foreign Ministry

Session 2: Establishing Regional Footprints Through Investment

(1) Strategies and Opportunities to Invest in Argentina

Mr Federico Cetrangolo

Director for the Promotion of Investments

Argentina Foreign Ministry

(2) Malaysia as Your Global Supply Hub

Mr Sikh Shamsul Ibrahim Sikh Abdul Majid

Director of foreign Investment Promotion

Malaysian Investment Development Authority (MIDA)

Session 3: Argentina-Malaysia Bilateral Relations and

Trade Opportunities

(1) H.E. Ambassador Pablo Sivori

Undersecretary of Trade Promotion and Investments

Argentine Foreign Ministry

(2) The Malaysian Market: Insights and Opportunities

for Argentine Products

H.E. Ambassador Manuel Balaguer Salas

Ambassador of the Argentine Republic to Malaysia

(3) The Argentina Market: Insights and Opportunities

for Malaysian Products

Mr Wan Ahmad Tarmizi

Trade Commissioner of MATRADE Santiago

Malaysia External Trade Development Corporation (MATRADE)

Session 4: Panel Session

Mr Abu Bakar Koyakutty, Senior Director for Exports Promotion & Market Access, Malaysia External Trade Development Corporation (MATRADE) moderated this session.

(1) “Strategies and Opportunities to Invest in Argentina”

by Mr Federico Cetrangolo, Director for the Promotion

of Investments, Argentina Foreign Ministry

(Source: MATRADE webinar on “Malaysia and Argentina: Strengthening Bilateral Trade & Investments in the New Normal” on 14 October 2020)

(Source: MATRADE webinar on “Malaysia and Argentina: Strengthening Bilateral Trade & Investments in the New Normal” on 14 October 2020)

(Source: MATRADE webinar on “Malaysia and Argentina: Strengthening Bilateral Trade & Investments in the New Normal” on 14 October 2020)

2. “Making Malaysia as Your Regional Operations Hub”

by Mr Sikh Shamsul Ibrahim Sikh Abdul Majid, Director

of Foreign Investment Promotion, Malaysian Investment

Development Authority (MIDA)

(Source: MATRADE webinar on “Malaysia and Argentina: Strengthening Bilateral Trade & Investments in the New Normal” on 14 October 2020)

3. “The Malaysian Market: Insights and Opportunities for

Argentine Products” by H.E. Ambassador Manuel Balaguer

Salas, Ambassador of the Argentine Republic to Malaysia

(Source: MATRADE webinar on “Malaysia and Argentina: Strengthening Bilateral Trade & Investments in the New Normal” on 14 October 2020)

(Source: MATRADE webinar on “Malaysia and Argentina: Strengthening Bilateral Trade & Investments in the New Normal” on 14 October 2020)

4. Argentine products with potential to be exported to Malaysia

(Source: MATRADE webinar on “Malaysia and Argentina: Strengthening Bilateral Trade & Investments in the New Normal” on 14 October 2020)

5. “The Argentina Market: Insights and Opportunities for

Malaysian Products” by Mr Wan Ahmad Tarmizi, Trade

Commissioner of MATRADE Santiago, Malaysia External

Trade Development Corporation (MATRADE)

(Source: MATRADE webinar on “Malaysia and Argentina: Strengthening Bilateral Trade & Investments in the New Normal” on 14 October 2020)

(Source: MATRADE webinar on “Malaysia and Argentina: Strengthening Bilateral Trade & Investments in the New Normal” on 14 October 2020)

(Source: MATRADE webinar on “Malaysia and Argentina: Strengthening Bilateral Trade & Investments in the New Normal” on 14 October 2020)

(Source: MATRADE webinar on “Malaysia and Argentina: Strengthening Bilateral Trade & Investments in the New Normal” on 14 October 2020)

Source:–

1.MATRADE webinar on “Malaysia and Argentina: Strengthening Bilateral Trade & Investments in the New Normal” on 14 October 2020.

Contact Details

Ministry of Foreign Affairs
International Trade and Worship
ARGENTINA
Email: info@cancilleria.gob.ar
Website: cancilleria.gob.ar/en

Embassy of the Argentine Republic in Malaysia
H.E. Manuel Balaguer Salas
Ambassador of the Argentine Republic to Malaysia
16th Floor, Menara Keck Seng
203, Jalan Bukit Bintang
55100 Kuala Lumpur
MALAYSIA
Tel: +603-2144 1451 ; Fax: +603-2144 1428
Email: comercial_emsia@mrecic.gov.ar; comercial2_emsia@mrecic.gov.ar
Website: emsia.cancilleria.gob.ar

Mr Wan Ahmad Tarmizi Wan Idris
Trade Commissioner
MATRADE Santiago
Commercial Section (MATRADE)
Embassy of Malaysia
Oficina 302, Edificio Malasia
187, Las Condes
Santiago
CHILE
Tel: +52 55 5201 4540
Email: santiago@matrade.gov.my; tarmizi@matrade.gov.my
Website: www.matrade.gov.my

Malaysian Investment Development Authority (MIDA)
MIDA Central
No. 5, Jalan Stesen Sentral 5
Kuala Lumpur Sentral
50470 Kuala Lumpur
Tel: +603-2267 3633
Fax: +603-2274 7970
Email: investmalaysia@mida.gov.my
Website: www.mida.gov.my

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