Foreign Minister Mondino continued with her working agenda during her official visit to the Swiss Confederation and the Republic of Austria. In this context, she held a meeting in Bern with local businesspeople and investors, as well as authorities from the State Secretariat for Economic Affairs. In addition, Mondino was received by her counterpart, the head of the Federal Department of Foreign Affairs, Ignazio Cassis, and the head of the Federal Department of Economic Affairs, Education and Research, Guy Palmerin.
First, the Foreign Minister met with local businesspeople, many of whom are already carrying out investment operations in Argentina. She told them and the authorities from the State Secretariat for Economic Affairs that “Argentina intends to increase and diversify trade with Switzerland, promote investments and coordinate joint work between both countries’ governments and private sectors. Even though there is a trade surplus for Argentina, there is great potential to further increase bilateral trade.”
The meeting was attended by the State Secretary for Economic Affairs, Helene Budliger; the Assistant Secretary of State for the Americas, François Voeffray Peyro; the Swiss Ambassador to Argentina, Hans-Ruedi Bortis; a representative from Switzerland Global Enterprise, Simone Wyss Fedele; and executives of Nestlé, Glencore, Mediterranean Shipping Company (MSC), ZURICH Seguros, ABB Switzerland, Libattion and Threema GmbH.
Over 70 Swiss companies have a strong and long-standing presence in Argentina, especially in sectors such as oilseeds, grain, chemicals, pharmaceuticals, mining, rubber, plastics and food, among others. Switzerland is the 5th top foreign investor in our country. “We value the companies’ investments and their presence in our country. We are willing to maintain permanent dialogue to ensure the effective development of their businesses and to promote new investment plans,” the Foreign Minister stated.
In addition, she offered a detailed overview of the Large Investment Promotion Regime (RIGI), which creates a favourable environment for large investments (exceeding USD 200 million) through special incentives for projects in 8 strategic sectors: Forestry, Tourism, Infrastructure, Mining, Technology, Metalworking, Energy, Oil and Gas. “We are convinced that the measures implemented by our Government will allow us to increase Swiss investments and give a new boost to bilateral trade,” she stressed.
Later, the Foreign Minister held a meeting with the head of the Federal Department of Foreign Affairs, Ignazio Cassis, and the head of the Federal Department of Economic Affairs, Education and Research, Guy Palmerin, with whom she discussed the most important issues on the common agenda, as well as current regional and global issues, including the pressing situations in the Middle East (Mondino explained that Argentina designated Hamas a terrorist organization), Ukraine, Venezuela and Africa.
The Ministers agreed to deepen the strong bilateral bonds of friendship and cooperation, based on shared values, such as democracy and peace. Mondino stated that Argentina has taken a very active role in the defence of freedom, democracy and human rights in Latin America.
In addition, she explained the Swiss Ministers that the Argentine Government is committed to creating the conditions to ensure Swiss investors the reliability they need in the short, medium and long term to conduct their businesses in Argentina, especially through the RIGI. In this regard, the Foreign Minister explained the reforms promoted by the Argentine Government to improve the business environment and investment climate.
The Swiss Ministers highlighted the sustained investments by leading Swiss companies in Argentina, such as ABB, The Adecco Group, Bühler, Clariant, Cross Racer, Gate Gourmet, Glencore, Givaudan, Golden Peaks Capital Energy, Hilti, Holcim, Just, Lafargeholcim, MUUME, Novartis, Nestlé, Omega, REHAU, Roche, Rolex, Schindler, SGS, Sika, Syngenta, Wisekey and Zürich.
Mondino stressed “the importance that Argentina attaches to the OECD accession process, as a tool to strengthen Argentina’s integration into the global scenario, as well as to legitimize and deepen the political, economic and cultural reforms necessary for the country.
Guy Palmerin expressed his interest in learning more about the ongoing reforms in Argentina and, in particular, the possibility of moving towards the conclusion of negotiations for the MERCOSUR-EFTA Agreement (a bloc made up of Iceland, Liechtenstein, Norway and Switzerland). Regarding the status of the negotiations, Mondino mentioned that Argentina, as coordinator of the negotiations on behalf of MERCOSUR, is still strongly committed to concluding the negotiations as soon as possible.
EFTA has an extensive network of free trade agreements currently in force and is one of the ten main players in international trade in goods and services. The EFTA countries have a combined population of around 15 million and their per capita GDP is exceptionally high (Iceland, USD 73,500; Norway, USD 108,700; Switzerland, USD 93,500), according to World Bank figures (2022, current USD).
Parmelin also showed interest in learning more about Argentina’s accession to the OECD. In this regard, Mondino offered him some details on the progress made and, together, they explored the possibility of receiving technical assistance from Switzerland to move forward with the accession and promptly submit the “Initial Memorandum”.
Both Foreign Ministers discussed issues on the regional and global agenda, including the war in Ukraine and the challenges identified at the Summit for Peace in Ukraine held in Bürgenstock, Switzerland, in June, with the attendance of President Javier Milei as a distinguished participant. Furthermore, they analyzed the critical situation in the Middle East and the impact of the Venezuelan crisis on the region, including massive migration of Venezuelan citizens and the situation of the six asylum seekers in the Argentine Residence in Caracas. The Swiss Foreign Minister offered details on his recent visit to Latin American countries and discussed the possibility of visiting Argentina in the future.
The Swiss community in Argentina is one of the largest in America, with fifteen thousand registered citizens and 50 community associations, which have been making key contributions to our national identity for decades. The Swiss Confederation is made up of 26 cantons, each with its own constitution, government, parliament and courts.
