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Marc Stanley: “The US is very interested in economic reforms, but we are concerned about the impact on the most vulnerable” - Infobae
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Marc Stanley: “EEUU está muy interesado en las reformas económicas, pero nos preocupa el impacto en los más vulnerables”
El embajador disertó en la Amcham Summit, donde destacó la mejora en las relaciones bilaterales a partir de la asunción de Milei e instó a las empresas norteamericanas a generar más interés en Washington sobre las oportunidades que hay en el país
www.infobae.com
March 12, 2024
The ambassador spoke at the Amcham Summit, where he highlighted the improvement in bilateral relations since the inauguration of Milei and urged North American companies to generate more interest in Washington about the opportunities that exist in the country
By Martin Kanenguiser
Marc Stanley (Adrián Escandar)
The United States ambassador to Argentina, Marc Stanley , stated today that the bilateral relationship has improved notably since President Javier Milei took office, but clarified that there are several key challenges to promoting investments in the country, such as the decline in inflation, permission to transfer dividends to parent companies, respect for laws and intellectual property.
Furthermore, the diplomat used the same expression as other officials of the Democratic administration - Treasury Secretary Janet Yellen and the number 2 of the International Monetary Fund, Gita Gopinath -, when praising the reforms implemented in these three months, but asking that in This transition protects the most vulnerable sectors.
The North American diplomat expressed at the Amcham Summit that the visit of the Secretary of State, Antony Blinken, and the Undersecretary of the Treasury , Jay Shambaugh, among other officials of the Joe Biden administration, reflects this substantial improvement in the bilateral relationship.
Stanley with a similar speech to Treasury Secretary Janet Yellen, who met with Caputo at the G20
However, he considered that the Government must eliminate exchange restrictions, for the transfer of dividends and profits, lower inflation and stabilize the economy, pay commercial debt to companies, guarantee respect for the laws and the independence of Justice. He also emphasized several times the need to improve intellectual property protection in the country, especially in a context of great transformation due to the rise of artificial intelligence and other digital technologies. In particular, he highlighted that the country has protected itself to not allow the “theft” of information in the field of telecommunications, through the Chinese company Huawei.
“The United States is very interested in the economic reforms underway. However, we are also concerned about the impact of economic reforms on the most vulnerable in society during this period of rapid reforms,” the diplomat told the businessmen.
Jay Shambaugh, Undersecretary of the Treasury, visited the country
“We have many areas in which we are collaborating with the government and the provinces. Trade and investment occupy a prominent place in this collaboration,” said the ambassador.
“We see opportunities in key sectors: clean energy, education, travel and tourism, infrastructure, digital technologies, mining and critical minerals,” Stanley said.
In his recent visit, he recalled, “Secretary Blinken specifically expressed his support for collaboration in the critical minerals sector. The Embassy has been an active partner working with the Argentine government on technical assistance and exchange of experiences and best practices.”
“We see opportunities to support the growth of the industry in Argentina and, at the same time, strengthen our own global supply chain for production,” he highlighted.
“This is directly related to the Biden administration's commitment to promoting the development of clean energy sources,” he said.
Argentine President Javier Milei, right, met with U.S. Secretary of State Antony Blinken at the Casa Rosada presidential palace in Buenos Aires, Argentina, on Friday, February 23, 2024. (Agustín Marcarian/ Pool Photo via AP)
The diplomat considered that “the United States and Argentina are natural partners and are working to make this association more beneficial for the people of both countries.”
In this regard, he stressed that “we are working hard to make the most of the Milei administration's commitment to this collaboration. “We have been very busy meeting with the new administration and hosting high-level delegations from Washington coming to examine specific areas where we can make progress.”
He also recalled that the Undersecretary for the Western Hemisphere, Brian Nichols, “visited Buenos Aires with an agenda that included meetings on economic reforms, labor rights, priorities of the Western Hemisphere, defense and law enforcement issues, and a round table with leaders business”.
“He was able to hear, directly from the source, the challenges that American companies face in Argentina and solicit their ideas on how the United States can support their continued growth.
Brian Nichols, another recent visit
Areas of cooperation
Blinken was also able to talk with Milei about “a wide range of US priorities, from human rights to trade, to Ukraine and climate change.”“We talked about how to increase the positive results of the partnership and collaboration between the United States and Argentina. By working together we can have a greater impact on the growth of our economies and ensuring stability in the region,” he explained.
“This is directly related to the Biden Administration's commitment to promoting the development of clean energy sources. I am pleased to mention an initiative that we are developing in this priority sector: IMPACT “Initiative to Mitigate Pollution and Climate Threats,” she noted.
Marc Stanley (Adrián Escandar)
It is “a two-year effort designed to highlight regional energy transition business opportunities to the American public.”
“I will lead a delegation to the United States in September 2024; This will serve as a precursor to a trade mission of American companies that will visit Santiago, Montevideo and Buenos Aires in August 2025,” he detailed.
In this sense, he explained that they will facilitate “presentations with US government officials and private sector suppliers to support Argentina's energy transition and its demand for clean technologies in hydrogen, energy storage, water and e-fuels.”
Amcham Summit Credit: Adrián Escandar
Regarding a key issue, regarding the Select Visa visa program, he indicated: “We know how important visas are to the business community. We have made enormous progress in reducing the wait for a first visa interview and we are committed to doing more next year. “We want people to travel for business and tourism and to strengthen our economic ties.”
“It takes two to tango, so America reaches out in collaboration. We look forward to continuing to work with you and with the Argentine Government in our common interests,” she stated.
The opening of the summit
Earlier, Facundo Gómez Minujín , president of the United States Chamber of Commerce in Argentina and the local subsidiary of JP Morgan, inaugurated this morning the AmCham Summit 2024 , the business event that, in its sixth edition, is held under the motto “A viable Argentina”.“For decades they wanted us to believe that the State was the only one capable of moving Argentina forward ,” he assured. “But no,” she added immediately, “the only sector capable of generating wealth is the private sector. It is the companies that produce goods and services that energize the economy and are capable of adding value and generating quality employment.”
Gómez Minujín also referred to subsidies, stating that “an economy based on subsidies for food, health, education, security, transportation, housing, fuel, electricity and gas is not sustainable.” The president of the chamber also called for “political representatives committed to the well-being of society, willing to prioritize the reconstruction of the country above any partisan interest.”
