International
Investment and technology, keys to the economic relationship between Argentina and Germany
The relationship between Argentina and Germany – a country to which President Javier Milei will make a working visit this weekend – is based on foreign investment, cooperation in natural resources and trade exchange, supported by bilateral agreements and joint projects to promote economic and technological development in both countries.
Milei is scheduled to travel tomorrow, Saturday, to Germany, where he will be awarded in Hamburg (north) the Hayek medal that the homonymous society awarded him due to his achievements as a “reformer”.
The next day, the Argentine president and the German Chancellor, Olaf Scholz, will hold a meeting in Berlin at the head of their respective delegations.
Germany has shown interest in cooperating with Argentina in the exploration and production of critical minerals such as lithium and copper, essential for the energy transition and the manufacture of batteries. This aligns with Germany’s efforts to diversify its sources of supply and reduce dependence on China.
In 2023, the stock of total Foreign Direct Investment (FDI) in Argentina ammounted to 128,855 million dollars (about 120,382.7 million euros), which represents 10.4% more than the previous year and 26.4% of the Gross Domestic Product (GDP), according to data from the Ministry of Foreign Affairs.
The upward trend of FDI continues in 2024, with various sectors such as lithium extraction, hydrocarbons and financial technology attracting a considerable amount of foreign investment.
Germany – an important investor in the automotive, technology and manufacturing industry – is in eighth place in FDI in Argentina, after the United States, Spain, Brazil, the Netherlands, Chile, China and Italy.
In 2023, German companies in Argentina made a significant investment in various sectors.
A survey by the Argentine-German Chamber of Industry and Commerce (AHK) and the consultancy EY Argentina revealed that 74% of German companies planned to invest more than one hundred million dollars (about 93.42 million euros) in the South American country. These investments were mainly used for fixed assets and the incorporation of technology.
Germany’s FDI stock in Argentina is mainly focused on the manufacturing (35%), mineral and oil extraction (22.3%), and retail and wholesale sectors (10.9%).
German companies such as Siemens, Volkswagen and Bayer have a strong presence in Argentina, promoting innovation and technology transfer in various industries.
Projects and cooperation in critical minerals are another key point of the economic relationship between the two countries, since Argentina is one of the main producers of lithium, essential for the manufacture of batteries, and that in 2022 exports of this element increased by 234%.
In February 2024, representatives of Germany and Argentina discussed cooperation in the supply chain of critical minerals, such as copper and lithium, with the aim of reducing dependence on China.
Regarding Argentine investment in Germany, which is less significant, companies from the South American country are beginning to explore opportunities in high-tech and renewable energy sectors.
In terms of cooperation and strategic alliances, both countries have signed bilateral agreements to encourage investment and facilitate trade. Argentina and Germany collaborate in infrastructure and technological development projects, taking advantage of the German experience in these fields.
Trade between Argentina and Germany includes Argentine exports of agricultural and mineral products, and imports of German machinery and industrial products. This exchange is fundamental for the Argentine economy and benefits both countries by diversifying their markets.
In 2022, total trade between Germany and Argentina exceeded $3.6 billion, with a growth of 8% compared to 2021.
In March 2024, Germany exported products worth 169 million euros (181 million dollars) to Argentina and imported goods for 104 million euros, resulting in a positive trade balance of 65.3 million euros (70 million dollars) for Germany.
Exports from Germany to Argentina include machinery, vehicles, chemicals and pharmaceuticals. The European nation is a key supplier of advanced technologies and industrial equipment necessary for various sectors of the Argentine economy.
Meanwhile, imports from Germany from Argentina focus on agricultural products and food, such as soybeans, wine and meat, as well as minerals.
The commercial relationship benefits from the complementarity between the economies, where Argentina provides raw materials and food, and Germany provides technology and manufactured products.
Both countries are working on closing a free trade agreement between the European Union (EU) and Mercosur, which could further enhance trade exchange and open up new business opportunities.
This agreement has been the subject of long negotiations and currently faces significant opposition from several EU member countries, especially France and Austria.
In contrast, countries such as Germany, Spain and Portugal are in favor of moving forward with the agreement, highlighting the economic benefits and the need to strengthen trade relations with Latin America.
International
Study finds COVID-19 vaccines prevented 2.5 million deaths worldwide
COVID-19 vaccines prevented an estimated 2,533,000 deaths worldwide between 2020 and 2024, according to an international study led by Università Cattolica del Sacro Cuore in Italy and Stanford University in the United States, published in the journal JAMA Health Forum. Researchers calculated that one death was prevented for every 5,400 doses administered.
The analysis also found that the vaccines saved 14.8 million years of life, equivalent to one year of life gained for every 900 doses given.
The study, coordinated by Professor Stefania Boccia, revealed that 82% of the lives saved were people vaccinated before becoming infected with the virus, and 57% of deaths avoided occurred during the Omicron wave. In addition, 90% of the beneficiaries were adults over 60 years old.
“This is the most comprehensive analysis to date, based on global data and fewer assumptions about the evolution of the pandemic,” explained Boccia and researcher Angelo Maria Pezzullo.
International
Trump administration blasts judge’s ruling reinstating TPS for Honduras, Nepal, and Nicaragua
The administration of U.S. President Donald Trump criticized a federal judge’s ruling on Friday that reinstated Temporary Protected Status (TPS) for Honduras, Nepal, and Nicaragua, stressing that the immigration program was never intended to serve as a “de facto asylum system.”
On Thursday, Judge Trina Thompson extended protections for about 7,000 Nepalese immigrants, whose TPS was set to expire on August 5. The ruling also impacts roughly 51,000 Hondurans and nearly 3,000 Nicaraguans, whose TPS protections were scheduled to end on September 8.
Immigrants covered by TPS had sued the Department of Homeland Security (DHS), alleging that the program’s termination was driven by “racial animus” and stripped them of protection from deportation.
DHS Deputy Undersecretary Tricia McLaughlin issued a statement saying the decision to end TPS was part of a mandate to “restore the integrity” of the immigration system and return the program to its original purpose.
“TPS was never conceived as a de facto asylum system; however, that is how previous administrations have used it for decades,” McLaughlin emphasized.
She also criticized Judge Thompson, calling the ruling “another example” of judges “stirring up claims of racism to distract from the facts.”
McLaughlin added that DHS would appeal the decision and take the legal battle to higher courts.
The Trump administration has also terminated TPS protections for approximately 160,000 Ukrainians, 350,000 Venezuelans, and at least half a million Haitians, among other immigrant groups.
International
Trump to build $200M ballroom at the White House by 2028
The U.S. government under President Donald Trump announced on Thursday that it will begin construction in September on a new 8,000-square-meter ballroom at the White House.
The announcement was made by Karoline Leavitt, the administration’s press secretary, during a briefing in which she explained that the expansion responds to the need for a larger venue to host “major events.”
“Other presidents have long wished for a space capable of accommodating large gatherings within the White House complex… President Trump has committed to solving this issue,” Leavitt told reporters.
The project is estimated to cost $200 million, fully funded through donations from Trump himself and other “patriots,” according to a government statement. Construction is scheduled to begin in September and is expected to be completed before Trump’s term ends in 2028.
The Clark Construction Group, a Virginia-based company known for projects such as the Capital One Arena and L’Enfant Plaza in Washington, D.C., has been selected to lead the project.
The new ballroom will be built on the East Wing of the White House, expanding the iconic residence with a space designed for state dinners, official ceremonies, and large-scale events.
Study finds COVID-19 vaccines prevented 2.5 million deaths worldwide
Trump administration blasts judge’s ruling reinstating TPS for Honduras, Nepal, and Nicaragua
Costa Rica faces historic vote on lifting presidential immunity for Rodrigo Chaves
Tec de Monterrey honors one of its students for his contribution to nanotechnology in medicine
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