Nordic countries, including Denmark, Finland, Norway, and Sweden, express optimism regarding the acceleration of free trade negotiations with Mercosur, driven by Argentina's pro-market policies under Javier Milei's leadership. Negotiations involve both the European Union agreement (awaiting approval) and the EFTA (Iceland, Liechtenstein, Norway, and Switzerland).
Key areas of negotiation include improvements in intellectual property rights, particularly concerning patent protection, an area where European countries believe Mercosur needs to strengthen. The positive climate in Argentina, driven by recent economic measures including the lifting of currency restrictions, is also anticipated to encourage increased investment.
The article highlights examples such as Norway's Equinor reviewing assets in Vaca Muerta and its offshore projects, and Golar's participation in a joint venture for Liquefied Natural Gas (LNG) production and export with Argentine companies.
Diplomats from the Nordic countries and EFTA emphasize their commitment to the Mercosur agreement, highlighting the progress already made. Norway's ambassador notes the political will to accelerate the process, with a focus on regulatory frameworks for investments and tariff reductions.
The ongoing US-China trade war is seen as creating a favorable environment for other trade blocs to reduce barriers and enhance agreements, supporting the Nordic countries' optimistic outlook.
The lifting of currency restrictions in Argentina is welcomed by European countries, indicating increased investment interest. The focus on intellectual property rights regulation is emphasized as crucial for future trade agreements.