Argentina Signs Free Trade Deal with UK
Argentina and UK signed trade deal covering agriculture and fintech.
Argentine President Javier Milei and UK Prime Minister signed a comprehensive bilateral trade agreement in London, marking the most significant diplomatic engagement between the two nations since the 1982 Falklands War. The deal covers agricultural exports, financial technology cooperation, lithium mining investment, and energy sector partnerships.
Under the agreement, tariffs on Argentine beef, lithium, and soybean exports to the United Kingdom will be eliminated over a three-year phase-in period. In return, Argentina will open its financial services market to British firms, including digital banking and insurance. Buenos Aires estimates the deal could boost bilateral trade by $2.4 billion annually, representing a 340% increase from current levels.
The MERVAL index in Buenos Aires surged 3.1% on the announcement, with agricultural exporters Cresud and San Miguel among the top performers. The Argentine peso strengthened modestly in unofficial parallel market trading. Analysts at JP Morgan called the agreement a 'watershed moment' for Milei's market-friendly reform agenda, noting it could serve as a template for similar deals with the EU and Mercosur partners.
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