In Brussels, Foreign Minister Mondino ratified Argentina’s commitment to deepening the strategic relationship with the EU and its Member States

After visiting China and France, Foreign Minister Mondino arrived yesterday in Brussels, Belgium, capital of the European Union (EU), where she is meeting with European authorities to express Argentina's firm commitment to deepening its relationship with the EU and its Member States, based on common global values and a shared worldview with the West, including the defence of freedom, democracy, human rights, economic development and trade and investment promotion.

The Foreign Minister met with Anne Edwards, Head of Corporate Affairs at Glencore, who offered details on the company's plan to make two large-scale billion-dollar investments in copper in Argentina, The investments relate to two copper mining projects: Mara (Minera Agua Rica Alumbrera), in the Province of Catamarca, and El Pachón, in the Province of San Juan. These high-quality projects have the potential to contribute to Argentina's positioning as an important player in the copper industry.

Glencore, a multinational company headquartered in Switzerland, is the world's leading private firm in the production, purchase and sale of raw materials and food, with presence in over 35 countries. It produces and markets over 60 commodities, including a wide variety of metals and minerals, such as copper, cobalt, zinc, nickel and ferroalloys. In 2023, it produced over 1 million tons of copper and marketed 3.3 billion tons. Globally, Glencore controls 50% of the copper market, 60% of the zinc market, 38% of the alumina market, 28% of the coal for thermal power market and 45% of the lead market.

Mondino also met with the Director-General for Internal Market, Industry, Entrepreneurship and SMEs at the European Commission, Kerstin Jorna, to whom she conveyed Argentina's willingness to further deepen bilateral economic-trade and investment ties and improve the trade balance in terms of goods and services. The Foreign Minister stated that Argentina seeks to position itself as a safe and sustainable supplier of the minerals needed for the EU's twin green and digital transition.

Mondino thanked the invitation extended to Argentina as "Guest of Honour" for the upcoming edition of the Raw Materials Week, which will make Argentina the first country in Latin America and the Caribbean to participate with this special status. In addition, she stated that the Foreign Ministry is already working to set up the Argentine delegation that will travel to Brussels and highlighted that the invitation is a unique opportunity to show Argentina's mining potential and promote investment opportunities in the sector.

Later, Mondino was received by the Director-General of the Environment Department at the European Commission, Florika Fink-Hooijer, to whom she explained that the Argentine Platform for Deforestation-Free Soy and Beef will have a single and transparent monitoring, reporting and verification system to trace the flow of soy, beef and by-products at the local level and thus ensure a 100% deforestation-free origin. The system will be fully active from December 2024. The Director-General underscored the validity of the VISEC platform which, with the EU's engagement, will make it possible to trace and certify Argentina's production of soy and beef to be exported to the bloc.

Mondino highlighted that Argentina hopes that the Regulation (EU) 2023/1115 on deforestation, which is a unilateral measure, does not interfere with the normal trade flow with the EU or creates a barrier to market access once it is fully in force as of 1 January 2025.

Afterwards, the Foreign Minister held a luncheon with the High Representative of the EU for Foreign Affairs and Security Policy, Josep Borrell Fontelles, with whom she discussed the most relevant issues on the common agenda, as well as global matters. The Foreign Minister affirmed that Argentina considers the EU a natural partner, as a result of the historical ties between our country and many of its Member States, as well as the shared values and visions regarding democratic principles, the multilateral system and an international rules-based order.

She stressed that the solid bilateral relationship has great potential in terms of digitalization, space cooperation, biotechnology, energy, science and technology, and expressed that Argentina seeks to further deepen the economic, trade and investment exchange with the EU (the main direct investor in Argentina, with investments worth USD 56 billion), while expanding trade and achieving trade balance equilibrium. The EU is the 2nd top destination for Argentina's exports.

The Foreign Minister highlighted that Argentina can be a reliable supplier and partner for Europe when it comes to energy and the development of value chains, as well as a strategic partner regarding critical commodities. Thus, Europe's growing demand for lithium is an ideal opportunity for Argentina to play a leading role in global energy security and in the transition to a low-carbon economy.

In addition, Mondino reiterated that the conclusion of the Agreement with the EU is a priority for the Argentine Government, and that she expects the EU to be equally committed to the prompt conclusion of the negotiations.

The Foreign Minister was also received by Jutta Urpilainen, European Commissioner for International Partnerships, with whom she discussed the importance of modernizing the institutional political ties of the Argentina-EU relationship, so that it may reflect their current frequency.

In response to the interest expressed by Commissioner Urpilainen, Foreign Minister Mondino offered details on Argentina's current situation and the economic reforms promoted by President Milei's Administration. She also highlighted Argentina's capacity to become a preferential partner that may attract private investments and financing from community institutions in areas to be jointly selected, and renewed our country's interest in creating a Roadmap and inserting Argentina into European initiatives, especially the Global Gateway.

Later, they discussed Argentina's potential within the framework of the MoUs on commodities and energy, including the projects identified within the Global Gateway Strategy. They agreed that the Commissioner's upcoming visit to Buenos Aires on the occasion of her participation in the G20 meetings next July will be a suitable occasion to achieve concrete results on the topic.

Finally, the Foreign Minister met with NATO's Assistant Secretary-General for Political Affairs and Security Policy, Boris Ruge, to whom she conveyed Argentina's interest in becoming a NATO Global Partner, as instructed by President Javier Milei, with a view to establishing a relationship of mutual benefit, within a stable international system where peace and security are not under threat.

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