Argentina has strong historical and cultural ties with the EU and it is also an important economic partner. In recent years, structural macroeconomic fragility, serious financial turmoil and the COVID-19 pandemic have had significant economic and social consequences. The EU works with Argentina to recreate conditions for investment and forge new economic partnerships.
While Argentina is an upper-middle income country and therefore does not receive bilateral financial allocation, it remains eligible to access funding through thematic budget lines and regional programmes for Latin America and Caribbean. At the EU-CELAC summit in July 2023, the need to update the existing bilateral cooperation framework was named a priority. In addition to that, a Memorandum of Understanding (MoU) on Sustainable Renewable Energy was signed. The MoU on Critical Raw Materials was also signed during the visit of the President of the Commission Ursula von der Leyen to Buenos Aires in June 2023.
Our partnership
The EU supports Argentina towards sustainable and inclusive development actions in line with the Global Gateway Strategy. Several initiatives and potential investments have been identified under the Global Gateway Investment Agenda for Argentina promoting the green transition and renewable energy supply, including projects on infrastructure (waste/water management) and strengthening electricity transmission. Another priority is the Digitalisation Agenda.
In this context, two Team Europe Initiatives (TEI) have been developed in close collaboration with Member States: TEI on Green Investments and Sustainable Value Chains focusing on environment, climate change and sustainable agriculture; as well as the TEI on Digital transition to support the implementation of Argentina’s Digital Agenda and the EU-Mercosur Trade Agreement.
Under the Regional Multi-Annual Indicative Programme 2021-2027, EUR 10 million were allocated under a specific “country window” for Argentina in the framework of EUROCLIMA+ programme to support climate change and environment actions. The project is divided in two components:
- EUR 7 million for territorial planning, forestry management and sustainable farming in the Northern Region (including the Gran Chaco Argentino) ;
- EUR 3 million for biodiversity protection in the Patagonian Sea (including support to waste management and responsible fishing practices).
Furthermore, a substantial budget of EUR 40 million has been earmarked for broader cooperation with Argentina.
Regional Multiannual Indicative Programme 2021-2027 for Argentina
Our flagship initiatives
The Global Gateway Investment Agenda in Argentina is divided in three main areas with several projects:
- Critical Raw Materials: Critical raw materials value chains for lithium and copper integrating vehicle and batteries components.
- Digitalisation:
- European-Argentinian Academic Alliance on scientific cooperation, Internet and artificial intelligence.
- Legislation, regulatory frameworks, and policies on the introduction of artificial intelligence.
- Internet for All project.
- Green Transition Energy/Infrastructure
- Green Hydrogen: Production of green hydrogen.
- Electricity transmission: Expansion and modernisation of the electricity transmission network, covering 23 provinces nationwide, following the Transmission Network Investments federal plan.
- Green Economy:
- Support to small and medium-sized enterprises (SMEs) leading investments in energy efficiency, renewable energy and bioeconomy.
- Commercialisation of green low-carbon technologies of European SMEs and companies.
- Green Development of Norte Grande Region/Gran Chaco:
- Development of Norte Grande region, with focus on Gran Chaco Americano.
- Activities on territorial planning, forestry management, sustainable farming, and climate change.
- Waste management improvement: Waste management improvement with a focus on Chubut Province and Mar Patagónico.
- Rural Development Programme (PROSAP V): Investments in rural roads, irrigation, rural electrification, fire risk management, rural Internet connectivity and rural marketplaces.