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Argentina keen to join Americas Partnership for Economic Prosperity

11 Jun '24
2 min read
Argentina keen to join Americas Partnership for Economic Prosperity
Pic: Adobe Stock

Insights

  • Argentina has expressed its interest to join the Americas Partnership for Economic Prosperity, with the US committing to keep the former informed of progress on an expansion mechanism.
  • Both sides recently concluded the fourth meeting of the Trade and Investment Council under the US-Argentina Trade and Investment Framework Agreement at Buenos Aires.
Argentina has expressed its interest to join the Americas Partnership for Economic Prosperity, with the United States committing to keep the former informed of progress on an expansion mechanism for new members.

Both the countries recently concluded the fourth meeting of the Trade and Investment Council under the US-Argentina Trade and Investment Framework Agreement (TIFA) at Buenos Aires.

The meeting 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 Organisation (WTO) Committee on Trade Facilitation, a release from the office of US trade representative (USTR) said. 

Both sides look forward to continuing a constructive and open engagement under the TIFA this year to strengthening bilateral and economic ties for mutual benefit. 

They decided to create a working group on supply chain resilience to analyse capacities and opportunities to raise trade and investment in sectors of mutual interest.

President Joe Biden had hosted the inaugural Americas Partnership for Economic Prosperity Leaders’ Summit on November 3, 2023, to set up a forum for bolstering regional competitiveness and mobilising high-standard investment in the Western hemisphere.

Biden and leaders of the eleven other inaugural Americas Partnership countries—Barbados, Canada, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Mexico, Panama, Peru, and Uruguay—has then announced their plan to drive inclusive growth and to strengthen critical supply chains, with an initial focus on clean energy, semiconductors and medical supplies.

Fibre2Fashion News Desk (DS)

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