Joint Statement on the Fourth Meeting of the United States – Argentina Council on Trade and Investment

June 07, 2024

BUENOS AIRES – On June 5, 2024, the United States and Argentina concluded the fourth meeting of the Trade and Investment Council under the U.S. – Argentina Trade and Investment Framework Agreement (TIFA). The meeting was chaired by Assistant United States Trade Representative for the Western Hemisphere Daniel Watson and the Undersecretary for International Economic Negotiations and Integration of the Ministry of Foreign Affairs, International Trade and Worship of Argentina (MRECIC), Gabriel Martínez.  Each side was accompanied by a broad interagency team, including the U.S. Department of Commerce, U.S. Department of State, the U.S. Department of Agriculture, and representatives of the Argentinian Ministries of Foreign Affairs, Economy, and the Secretariats of Mining, Health, Commerce, Bioeconomy, Regulatory Strategic Planning, Labor, and the Central Bank of Argentina.

The countries shared their ambition to deepen bilateral trade relations and noted the important role of bilateral engagement in diversifying regional supply chains for long-term, sustainable growth, including in key sectors such as critical minerals.  They further discussed the importance of transparency, good governance, high labor standards, and environmental sustainability to support trade, investment and workers in both the United States and Argentina.  The United States highlighted the foundational role of these topics in the trade track of the Americas Partnership for Economic Prosperity. Argentina expressed its determination to join that regional effort, and the United States welcomed Argentina’s interest in joining and committed to keep Argentina informed of progress on an expansion mechanism for new members. 

During the meeting, they discussed practical steps to advance transparent regulatory processes and simplify border processes.  Argentina noted that it intends to convene its National Committee on Trade Facilitation (NTFC) and support the Key Principles of Shared Practice of Successful NTFCs in the World Trade Organization (WTO) Committee on Trade Facilitation.  The two countries discussed the importance of full implementation of the WTO Trade Facilitation Agreement and, with a view to full implementation, both re-committed to reviewing their customs fees and procedures with the aim of reducing the time and cost of compliance for traders and operators.   Both countries look forward to participating in the next check-in meeting for the June 2022 Declaration on Good Regulatory Practices, planned for later this year.  They also discussed issues in the digital economy, including artificial intelligence, cyber security, and privacy.
The United States and Argentina emphasized the importance of diverse, resilient, high-standard critical minerals supply chains and committed to deepening cooperation on these issues.  Argentina presented the potential of the sector in the country and the investments being made, especially in lithium and copper, as well as the country’s interest in playing a leading role in the supply chain related to these minerals. Argentina discussed its intention to explore how trade can support integration of Argentine products into regional supply chains.
The officials also took note of the agenda of the Innovation and Creativity for Economic Development Forum, which convenes its eighth meeting from June 6-7 in Buenos Aires.
The United States and Argentina look forward to continuing a constructive and open engagement under the TIFA in 2024, with a view to strengthening bilateral and economic ties for mutual benefit.  Both countries decided to create a working group on supply chain resilience, with the objective of analyzing capacities and opportunities to increase trade and investment in sectors of interest to both countries. 

On agriculture, they decided to continue discussing market access interests on both sides. They decided to convene at the technical level in the next quarter to review the status of pending issues and continue regular engagement to resolve concerns.  Regarding the access of Argentine sweet citrus fruits to the United States, Argentina underlined its work to comply with U.S. requirements for imports of sweet citrus, and its hope that the U.S. Department of Agriculture’s Animal and Plant Health Inspection Service (APHIS) will publish the Pest Risk Assessment soon. The two sides also discussed the importance of ensuring that the grant of Geographical Indication protection does not deprive interested parties of the ability to use common names. 
The next meeting of the TIFA Council is planned for 2025.