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
Three salvadorans in Florida sentenced in $146 million construction tax fraud scheme
Three Salvadoran residents living in Orlando, Florida, were sentenced for conspiracy to commit tax fraud and wire fraud involving a scheme exceeding $146 million in the construction industry, according to the U.S. Attorney’s Office for the Middle District of Florida. The sentence was handed down by federal judge Timothy J. Corrigan on Tuesday, July 29.
Eduardo Aníbal Escobar (45) was sentenced to 4 years and 9 months in prison, Carlos Alberto Rodríguez (36) to 3 years and 4 months, and Adelmy Tejada (57) to 18 months in prison, followed by 6 months of house arrest. All three pled guilty on April 3, 2025.
In addition to the prison terms, the court ordered restitution payments totaling $36,957,616 to the IRS for unpaid payroll taxes, and $397,895 to two insurers for workers’ compensation claims related to the scheme.
Escobar and Rodríguez are permanent legal residents originally from El Salvador, while Tejada is a naturalized U.S. citizen of Salvadoran origin.
International
Kremlin hails preparedness after Kamchatka quakes leave no casualties
The Kremlin expressed relief that the earthquakes that struck Russia’s Kamchatka Peninsula today —the first being the strongest since 1952— resulted in no casualties, and emphasized that the region is well prepared to face such natural disasters.
“Thank God, there were no victims,” said Kremlin spokesman Dmitry Peskov during his daily press briefing.
The presidential representative stated that “all alert systems were activated in time, and evacuations were organized for residents in areas requiring it in response to tsunami threats.”
“Overall, the seismic resilience of the buildings proved effective (…) Therefore, we can say that the technological preparedness demonstrated a high level,” Peskov added.
International
U.S. launches ads urging undocumented migrants to self-deport via CBP Home App
The U.S. government announced Tuesday that it will begin airing television and online ads encouraging undocumented migrants to self-deport using the CBP Home app, while warning them about the risks of remaining in the country unlawfully.
“If you are an illegal alien, this runway is your future,” says Homeland Security Secretary Kristi Noem in one of the YouTube ads released by her department, as the screen shows a long line of people —allegedly undocumented migrants— waiting to board a plane for removal from the U.S.
To prevent such a scenario, the government urges migrants to download the CBP Home app, launched last March by the Trump administration to facilitate voluntary departure through a series of incentives that would otherwise be lost if they are arrested and deported by authorities.
“The CBP Home app gives foreign nationals the option to leave now and self-deport, so they still have the chance to return legally in the future and live the American dream,” Noem said in a statement issued by the U.S. government.
Three salvadorans in Florida sentenced in $146 million construction tax fraud scheme
Kremlin hails preparedness after Kamchatka quakes leave no casualties
U.S. launches ads urging undocumented migrants to self-deport via CBP Home App
Tec de Monterrey honors one of its students for his contribution to nanotechnology in medicine
Defense Minister commends salvadoran soldier for Central American Cross Country victory
Extension of the state of emergency approved in southern Chile
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