Argentina

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Growing market potential

Despite high inflation and a devalued peso increasing the cost of imports, there are large scale investment plans in place for production and export of natural resources (Argentine Investment Agency, 2019). In the year to March 2020, UK goods exports to Argentina increased by 8.5% (ONS, 2019).

Opportunities for exporters

There are opportunities for UK companies across a broad range of industries الفرص

Preparing to Export

You should be attentive to requests from your representatives in the market, regarding labelling, export documents and packaging. Small deviations from the instructions could result in increased costs and delays.

Establishing good personal relations is important, to ensure continuity in managing the relationship.

Operating

Argentine and International companies are treated equally by law. Despite this, bureaucracy and the variety of taxes and regulations can make it complex. Obtaining professional help is strongly advised especially as this will reduce the risk of long and possibly expensive wrangling later.

Intellectual property

الملكية الفكرية

Problems with patents and trademarks can sometimes occur and lead to a lengthy judicial process. For this reason, you are advised to seek local advice and patent inventions and register trademarks in Argentina. Applications can be made through a patent or trademarks agent.

Payment terms

Letters of Credit are expensive in Argentina and local customers may prefer other payment forms such as advance payments. We recommend using them to start any new commercial relationship as well as exploring the possibility of advanced payments on at least part of the goods.

Challenges

Argentina presents challenges for businesses that can include high inflation, high labour costs, currency exchange rate restrictions and instability. There are complex standards, certification, registration, and public procurement issues.

Economic growth

-2.2%

business_languages

Spanish

GDP per capita

$11,658

Time zone

GMT -3

Argentina is the second largest economy in South America. It's a member of the G20 and the Mercosur trading block. Argentina has vast natural resources in agriculture, mining and energy including renewables. It has the highest English Proficiency Index score in Latin America (2019) and its people have a European style business culture.