Business Opportunities galore in Argentina – Guastavino

Amritsar, Dec.15 (Punjab Post Bureau)- Diversified export basket, dynamic domestic market, preferential access to a regional market at 0% tariff, great industrial complementariness and opportunities to deepen productive specialization, strategic location, ties with Latin America all clubbed together, make Argentina an ideal location for trade and investment, says Raul Ignacio Gustavino, Ambassador of the Argentine Republic. Guastavino was speaking during the seminar on “Doing Business with Argentina- Trade and Investment Opportunities” organised here today, by PHD Chamber of Commerce and Industry to provide information about various business opportunities that exists with Argentina, and to encourage bilateral trade, investment & collaborations between India & Argentina.
The Ambassador gave key insights to the participants regarding Argentina mentioning that Argentina is a perfect investment platform for Indian companies keen to tap opportunities in the growing Argentine market due to its strategic location advantage and immense connectivity. The bilateral trade between India and Argentina, he said, is merely US$ 1.7 billion. India’s exports to Argentina comprise of organic Chemicals, vehicles and auto parts, lubricants, machinery, sound and image devices and fabrics among others. India´s imports from Argentina are soybean oil, sunflower oil, leather, wool and ferroalloys. However, the two economies must further trade and investment opportunities through exchange of delegations, seminars and meetings, stressed Guastavino.
During 2012-13, the bilateral trade between the two countries was estimated at about $1.8 billion. Argentina expects its trade with India to more than double to about $4 billion in the next five years. Dalip Sharma, Director, PHD Chamber said, “The future prospects for trade and investment between India and Argentine Republic are significant. The inbuilt complimentary of the economies of both our countries offers innumerable opportunities and it is important that we build on the existing strong relations.” Sharma also stressed on the fact that it is important to accelerate our efforts for the growth of bilateral economic cooperation, particularly in view of the current economic scenario. There is a need for greater synergy of efforts between the business communities of both the countries to accelerate the two way cooperation.
Guastavino while interacting with the industrialists shared that IT, automotives, mining, oil and gas exploration, technological goods, research and invention, renewable energy and agribusiness are key areas for collaborating, partnering, and building business ties with counterparts in Argentina. The potential areas of investment include construction, solar energy, engineering and food processing.