Weekly Report - 18 February 2016 (WR-16-07)

ARGENTINA | New trade and investment agency launches. The government unveiled its new investment promotion and foreign trade agency on 11 February. The agency will be run jointly by the production and foreign affairs ministries and will be responsible for “inserting Argentina into the centre of Latin American investments, and to develop new markets for Argentine products”. Juan Procaccini, who will run the agency, said it would help to reduce the risk perception and transaction costs for investors, increasing Argentina’s competitiveness. A government statement bemoaned the fact that Latin America receives 13% of global investment, approximately US$159bn, but Argentina only received 4% of this figure last year. The Macri administration is intent on completely changing Argentina’s image when it comes to trade and investment.