Argentina’s economic outlook was characterised by a blend of positive and negative indicators at the close of 2026. An export boom in commodities was observed alongside increasing unemployment, a deceleration in disinflation, and a general slowdown in economic activity. In this context, the German-Argentine Chamber of Industry and Commerce (AHK, by its German acronym) convened a meeting entitled “Debating the Foundations of Argentina’s Future” at the Buenos Aires Grain Exchange. The event convened CEOs and general managers from several of the nation’s foremost companies, alongside public-sector officials and notable figures within Argentina’s business community. “We discussed future opportunities and how to turn them into tangible development,” the AHK said in a statement about the event, which the Herald attended. One of the initial speakers was Energy Secretary María Tettamanti, who emphasised that “to take advantage” of the natural gas reserves in the Vaca Muerta formation, “they have to be exported.” This is anticipated to occur extensively following the completion of the two liquefied natural gas projects sanctioned under President Javier Milei’s Large Investment Incentive Regime. She contended that industrialisation within an economy stems from well-defined regulations and a degree of predictability. “One of the mistakes made in Argentina is that the governments that talk the most about industrialization and adding value before exporting are the ones that created rules that, far from encouraging industrialization, worked against it,” she said. “Without macroeconomic stability and clear rules of the game, what industry would want to set up shop here?” she asked.
For that reason, she stated, the Milei administration would refrain from intervening in this sector of the economy. “We believe the market should determine whether a raw material is exported in its current state or whether domestic industry wants to process it,” she said. During another panel, Juan Pedro Agüero, general manager of New Energy Argentina, stated that the country “has everything to gain and grow over the long term.” In addition to its unconventional hydrocarbon reserves, Argentina possesses abundant, world-class wind resources, alongside considerable potential for solar energy and green hydrogen, he stated. Similarly, Federico Garín Odriozola, CEO of Solar DQD, identified lithium batteries as one of the key technological developments driving growth in Argentina’s renewable energy sector, since they “make it possible to stabilize renewable power generation.” And “What we are seeing with batteries is remarkable. In three years, we have gone from barely talking about them to having them installed and suddenly up and running,” he emphasized. Agüero also stated that mining companies, LNG terminals, and even data center operations could create significant new demand in the short term. During a panel focused on the challenges and opportunities related to enhancing Argentina’s competitiveness, Eduardo Gorchs, president of AHK Argentina and managing director for South America at Siemens, noted that the country has a history of achieving significant technological advancements in specific industries.
“Sometimes it’s because we fall too far behind for a while and then make the leap,” he joked. He added that “if we can combine the capabilities we have in the country with the technology already available, anything is possible.” Meanwhile, Matías Martin, managing director and CFO of BASF Argentina, said the debate over competitiveness “is not unique to Argentina,” since “everyone around the world is looking at how to become more competitive.” And “I think our biggest challenge today is to move from promise to power. Argentine talent will be key to meeting that challenge, and competitiveness will become even more important,” he added. Carolina Barton, managing director of Aluplast, acknowledged that the company had contemplated the establishment of a production facility in South America, with the objective of transforming Argentina into a regional hub. However, those plans were necessitated to be deferred. “In recent years, we have had economic models that swung sharply from one extreme to the other, requiring a great deal of effort to adapt to one and then the next. As a result, these decisions were postponed,” she said. At another point during the event, Marcelo Elizondo, chairman of the International Chamber of Commerce in Argentina, said the country was “at a turning point” because its economy was undergoing “a transformation on four major fronts.” The first was the “restoration of macroeconomic order,” while the second was the “establishment of a market economy.”
The third involved implementing “more reasonable deregulation,” and the fourth was “reintegration into the international economy.” And “There are many areas in which the economy is not delivering good results, but the international arena is one where it is,” he emphasized. This shift toward greater international integration is helping Argentina increase its share of global trade. “In 2023, Argentina hit rock bottom: its share of total global exports had never been so low, at 0.29%. This year, we will most likely reach 0.37%,” he said. In this regard, he stressed the importance of the agreement between Mercosur and the European Union in consolidating that trend. “It’s not just about tariff reductions. The agreement brings a change in the economic model and a shift in the institutional architecture.” He noted that Argentina’s Constitution gives international treaties precedence over domestic laws, meaning that “if, in the future, someone tries to obstruct something established in an international treaty through a decree or a law, they cannot do so.”
