Argentina 2014 Blog: Welcoming Remarks

By
Rachel Glickhouse

Cabinet Chief of Staff Jorge Capitanich and Buenos Aires Mayor Mauricio Macri outlined Argentina's political and economic roadmap.

Speakers:

  • Susan Segal, President & CEO Americas Society/Council of the Americas
  • Carlos Raúl de la Vega, President, Argentine Chamber of Commerce
  • Mauricio Macri, Mayor of Buenos Aires
  • Jorge Capitanich, Cabinet Chief of Staff, Argentina

To open the 2014 Buenos Aires conference, AS/COA's Susan Segal highlighted the fact that the event brings together top brass from the public and private sectors at an important moment for the country. Argentina's Chamber of Commerce President Carlos de La Vega emphasized the importance of trade, noting that one in five Argentines works with trade. He said that the country needs a vigorous private sector and cautioned that the fiscal deficit and inflation represent challenges. Finally, he called for consensus on economic and social policy.

Buenos Aires Mayor Mauricio Macri also spoke about the country's economic challenges, expressing concern about policies and saying the rules of the game must be clear. He noted that in governance, investing is not the same thing as spending.

He noted that when it comes to agricultural production, those living in the provinces have the potential to produce more, but need the government's support to do so. In Buenos Aires, he explained that one of the city's advantages is its "enormous entrepreneurial spirit," as well as its ability to take advantage of new technologies.

Argentina's Cabinet Chief of Staff Jorge Capitanich highlighted the country's economic gains, from agriculture to social inclusion. Argentina is the world’s fifth largest exporter of food, and its fiscal policies have allowed for income redistribution. The government has invested the equivalent of 12.1 percent of GDP in social inclusion, benefitting 15 million people. However, the country must continue expanding infrastructure, diversify and increase exports, and improve logistics, he said.

The country is working toward energy independence, Capitanich said. Argentina has growing energy demand and is looking for ways to diversify its energy matrix in areas like biodiesel and wind power. It also has very high potential with hydrocarbons, given its shale gas reserves. It needs to expand quickly, given a potential energy deficit.

He added that Argentina has always honored its debt commitments. On governance, he explained that whoever becomes Argentina’s next president will need a big coalition, as no party will have a majority.

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