American companies belonging to the American Chamber of Commerce in Argentina (AmCham Argentina) celebrated the announcement of the Reciprocal Trade and Investment Framework Agreement between the United States and Argentina, stating that it represents a «powerful signal of mutual trust and shared strategic vision towards greater openness and integration with Western economies».
«In an increasingly fragmented, competitive, and uncertain global context, this step demonstrates that our country has the necessary conditions to once again play a leading role in international trade,» AmCham stated in a communiqué, according to the Argentine News Agency (NA).
«The United States is the world's largest economy and largest importer. Argentina's relative competitiveness, combined with its sectoral advantages, creates a concrete opportunity to integrate into these new commercial and investment flows».
In this scenario, AmCham highlighted the importance of «promoting agreements that strengthen predictability, cooperation, and trust between countries».
«Instruments like this contribute not only to creating more favorable conditions for production, adding value to existing supply chains, and generating genuine employment, but also to substantially reducing costs for the Argentine consumer, thereby boosting the growth of our economy,» they stated.
Furthermore, AmCham Argentina reaffirmed its «commitment to continue supporting and facilitating all efforts aimed at attracting investment, modernizing the productive structure, and capitalizing on the opportunities offered by this new global economic map, contributing to the country's sustainable development and strengthening the bilateral relationship».
AmCham Argentina represents more than 700 companies that directly employ 420,000 people and operate in 42 economic sectors, contributing 24% of the GDP, 39% of tax revenue, 35% of imports, and 45% of the country's exports.
In this new scenario, the new agreement places Argentina in a favorable position, especially amid the changes in global trade,» they indicated.
They affirmed that the announced agreement «opens the door to the consolidation of a bilateral channel of incentives that will allow for the revitalization of foreign trade, the facilitation of exchange, and the strengthening of access to a key market like that of the United States».
«The potential elimination of tariff and non-tarrier barriers will improve the competitiveness of the Argentine export sector, boosting its internationalization and positioning the country as an attractive destination for new investments, especially in strategic sectors,» they indicated.
Similarly, they stated that this framework «is consistent with the global reconfiguration of supply chains and the growing demand for alternative suppliers, in line with the nearshoring and friendshoring trends promoted by the United States».
