Brussels, 10/03/2016 (Agence Europe) - At the end of a meeting with Argentina's Foreign Affairs Minister Susana Malcorra on Wednesday 9 March, High Representative of the EU for Foreign Affairs and Security Policy Federica Mogherini said that the European Union is pleased about the reforms to which the Argentine government has committed, which will enable Argentina's bilateral relations with the EU to be deepened.
Since arriving in power, the Argentine government of Mauricio Macri has put an end to the dual system of monetary exchange by devaluing the peso strongly. It has also put an end to restrictions on the movement of foreign capital, and found an agreement with the US investment funds which hold Argentine debt instruments. This agreement paves the way for Argentina's return to the financial markets. Praising these reforms, Mogherini said that the EU and Argentina would renew their macroeconomic dialogue in May - an important step for the country's credibility. She also said that the European Investment Bank (EIB) was ready to resume its cooperation with Argentina to support investment projects focusing on SMEs in sectors linked to the climate change agenda (such as renewable energy).
Mercosur. Mogherini also spoke of the ongoing work in the trade negotiations between the EU and Mercosur countries (Argentina, Brazil, Paraguay, Uruguay and Venezuela) (see EUROPE 11503 and 11497). “We are working very hard in the EU, and I know it is the same in Mercosur, to have an exchange of offers that can be positive for both parties in the coming (…) couple of months”, she said. In Mogherini's view, it is ambitious but nevertheless realistic to reach results in April at the latest.
According to Argentine newspaper El Clarin, Malcorra stated that Macri would respond positively to the invitation of European Council President Donald Tusk and European Commission President Jean-Claude Juncker by visiting the EU institutions in the second half of 2016. (Original version in French by Mathieu Bion)