 RESTRICTED  
  
WT/TPR/S/412  
11 August 2021  
(21-6159) Page: 1/272 
Trade Policy Review Body   
 
TRADE POLICY REVIEW  
REPORT BY THE SECRETARIAT  
ARGENTINA  
This report, prepared for the fifth Trade Policy Review of Argentina, has been drawn up by the 
WTO Secretariat on its own responsibility. The Secretariat has, as required by the Agreement 
establishing the Trade Policy Review Mechanism (Annex 3 of the Marrakesh Agreement Establishing 
the World Trade Organization), sought clarification from Argentina on its trade policies and practices.  
 
Any technical questions arising from this rep ort may be addressed to Mr. Angelo Silvy 
(tel. 022 739 5249) , to Ms. Eugenia Lizano (tel. 022 739 6578)  or to Stephanie Dorange -Patoret  
(tel. 022 739 5497). 
 
Document WT/TPR/G/412 contains the policy statement submitted by Argentina.  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: This report is subject to restricted circulation and press embargo until the end of the first 
session of the meeting of the Trade Policy Review Body on Argentina. This report was drafted in 
Spanish.  
  WT/TPR/S/412 • Argentina  
 
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CONTENTS  
SUMMARY  ................................ ................................ ................................ ........................  9 
1  ECONOMIC ENVIRONMENT  ................................ ................................ .........................  17 
1.1  Main features of the economy  ................................ ................................ .....................  17 
1.2  Recent economic developments  ................................ ................................ ...................  19 
1.2.1  Economic developments and economic policy measures  ................................ ...............  19 
1.2.2  Performance of the main components of GDP and employment  ................................ ...... 23 
1.2.3  Fiscal policy  ................................ ................................ ................................ ...........  24 
1.2.4  Monet ary and exchange rate policies  ................................ ................................ .........  32 
1.2.5  Balance of payments  ................................ ................................ ...............................  37 
1.3  Developments in trade and investment  ................................ ................................ .........  40 
1.3.1  Trends and patterns in merchandise and services trade  ................................ ................  40 
1.3.1.1   Developments in merchandise trade  ................................ ................................ ....... 40 
1.3.1.2   Composition of merchandise trade  ................................ ................................ ..........  40 
1.3.1.3   Merchandise trade destinations  ................................ ................................ ..............  41 
1.3.2  Trade in services  ................................ ................................ ................................ .... 44 
1.3.3  Trends and patterns in foreign direct investment (FDI)  ................................ .................  45 
2  TRADE AND INVESTMENT REGIMES  ................................ ................................ ...........  46 
2.1  Overview  ................................ ................................ ................................ ..................  46 
2.2  Trade policy formulation and objectives  ................................ ................................ ........  51 
2.3  Trade agreements and arrangements  ................................ ................................ ...........  52 
2.3.1  WTO ................................ ................................ ................................ .....................  52 
2.3.2  Regional and preferential agreements  ................................ ................................ ........  53 
2.3.3  Other agreements and arrangements  ................................ ................................ .........  57 
2.4  Investment regime  ................................ ................................ ................................ .... 57 
3  TRADE P OLICIES AND PRACTICES BY MEASURE  ................................ .........................  60 
3.1  Measures Directly Affecting Imports  ................................ ................................ .............  60 
3.1.1  Customs procedures, valuation and requirements  ................................ ........................  60 
3.1.2  Rules of origin  ................................ ................................ ................................ ........  67 
3.1.3  Tariffs  ................................ ................................ ................................ ...................  68 
3.1.3.1   Tariff bindings  ................................ ................................ ................................ ..... 70 
3.1.3.2   Tariff quotas  ................................ ................................ ................................ ........  71 
3.1.3.3   Tariff preferences  ................................ ................................ ................................ . 71 
3.1.3.4   Tariff concessions ................................ ................................ ................................ . 72 
3.1.4  Other charges affecting imports  ................................ ................................ ................  77 
3.1.5  Import prohibitions, restrictions and licensing  ................................ .............................  80 
3.1.5.1   Import prohibitions  ................................ ................................ ..............................  80 
3.1.5.2   Import licensing  ................................ ................................ ................................ ... 82 
3.1.6  Anti-dumping, countervailing and safeguard measures  ................................ .................  85 
3.1.6.1   Anti-dumping and countervailing measures  ................................ ..............................  85 WT/TPR/S/412 • Argentina  
 
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  3.1.6.1.1   Legal framework  ................................ ................................ ...............................  85 
3.1.6.1.2   Procedures  ................................ ................................ ................................ ....... 86 
3.1.6.1.3   Price undertakings  ................................ ................................ .............................  87 
3.1.6.1.4   Review of anti -dumping and countervailing measures  ................................ .............  88 
3.1.6.1.4.1   Changed circumstances reviews  ................................ ................................ ........  88 
3.1.6.1.4.2   Expiry reviews  ................................ ................................ ...............................  88 
3.1.6.1.4.3   Investigations to determine circumvention  ................................ .........................  88 
3.1.6.1.4.4   Non-preferential origin certification  ................................ ................................ ... 89 
3.1.6.1.5   Investigations and application of measures  ................................ ...........................  89 
3.1.6.2   Safeguard measures  ................................ ................................ .............................  91 
3.1.7  Other measures affecting imports  ................................ ................................ .............  92 
3.2  Measures Directly Affecting Exports  ................................ ................................ ..............  93 
3.2.1  Customs procedures and requirements  ................................ ................................ ...... 93 
3.2.2  Taxes, charges, and levies  ................................ ................................ .......................  99 
3.2.3  Export prohibitions, restrictions and licensing  ................................ ............................  102 
3.2.4  Export support and promotion  ................................ ................................ ................  104 
3.2.4.1   Free zones  ................................ ................................ ................................ ........  104 
3.2.4.2   Export duty drawbacks  ................................ ................................ .......................  105 
3.2.4.3   Other export incentives  ................................ ................................ .......................  106 
3.2.5  Export finance, insurance and guarantees  ................................ ................................  107 
3.2.6  Export promotion  ................................ ................................ ................................ .. 107 
3.3  Measures affecting production and trade  ................................ ................................ ..... 108 
3.3.1  Incentives  ................................ ................................ ................................ ...........  108 
3.3.1.1   Fiscal incentives  ................................ ................................ ................................ . 108 
3.3.1.2   Sectoral incentives  ................................ ................................ .............................  109 
3.3.1.3   Credit programmes  ................................ ................................ ............................  110 
3.3.1.4   Support f or research, development and improving competitiveness  ...........................  111 
3.3.1.5   Micro, small and medium -sized enterprises (MSMEs)  ................................ ...............  112 
3.3.1.6   Regional incentives  ................................ ................................ ............................  115 
3.3.2  Standards and other technical requirements  ................................ .............................  115 
3.3.2.1   Legal and institutional framework  ................................ ................................ .........  115 
3.3.2.2   National Quality System  ................................ ................................ ......................  117 
3.3.2.3   Standardization  ................................ ................................ ................................ . 118 
3.3.2.4   Technical regulations  ................................ ................................ ..........................  119 
3.3.2.5   Accreditation  ................................ ................................ ................................ ..... 120 
3.3.2.6   Conformity as sessment  ................................ ................................ .......................  121 
3.3.3  Sanitary and phytosanitary requirements  ................................ ................................ . 123 
3.3.4  Competition policy and price controls  ................................ ................................ ....... 128 
3.3.4.1   Competition policy  ................................ ................................ .............................  128 
3.3.4.2   Price controls  ................................ ................................ ................................ .... 134 WT/TPR/S/412 • Argentina  
 
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3.3.5  State trading and public enterprises  ................................ ................................ ........  137 
3.3.5.1   State trading  ................................ ................................ ................................ ..... 137 
3.3.5.2   National public enterprises  ................................ ................................ ..................  137 
3.3.6  Government procurement  ................................ ................................ ......................  140 
3.3.6.1   Main features  ................................ ................................ ................................ .... 140 
3.3.6.2   Legal framework  ................................ ................................ ................................  141 
3.3.7  Intellectual property rights  ................................ ................................ .....................  149 
3.3.7.1   General framework  ................................ ................................ .............................  149 
3.3.7. 1.1  Invention and utility model patents  ................................ ................................ .... 152 
3.3.7.2   Industrial designs  ................................ ................................ ..............................  155 
3.3.7.3   Trademarks  ................................ ................................ ................................ ....... 156 
3.3.7.4   New plant varieties ................................ ................................ .............................  159 
3.3.7.5   Copyright and related rights  ................................ ................................ ................  159 
3.3.7.6   Undisclosed information  ................................ ................................ ......................  162 
3.3.7.7   Enforcement ................................ ................................ ................................ ...... 163 
4  TRADE POLICIES BY SECTOR  ................................ ................................ ....................  167  
4.1  Agriculture, forestry and fisheries  ................................ ................................ ..............  167 
4.1.1  Agriculture and food processing  ................................ ................................ ..............  167 
4.1.1.1   Main features and objectives  ................................ ................................ ...............  167 
4.1.2  Main products  ................................ ................................ ................................ ...... 167 
4.1.2.1   Soya ................................ ................................ ................................ ................  167 
4.1.2.2   Maize  ................................ ................................ ................................ ...............  170 
4.1.2.3   Wheat  ................................ ................................ ................................ ..............  171 
4.1.2.4   Sunflowers  ................................ ................................ ................................ ........  172 
4.1.2.5   Meat of bovine animals  ................................ ................................ .......................  173 
4.1.2.6   Regulatory and institutional framework  ................................ ................................ . 175 
4.1.2.7   Policy instruments  ................................ ................................ ..............................  176 
4.1.2.7.1   Border measures  ................................ ................................ .............................  176 
4.1.2.8   Internal measures  ................................ ................................ ..............................  181 
4.1.3  Forestry industry and silviculture  ................................ ................................ ............  188 
4.1.4  Fisheries  ................................ ................................ ................................ ..............  190 
4.2  Mining and energy  ................................ ................................ ................................ ... 194 
4.2.1  Main features  ................................ ................................ ................................ ....... 194 
4.2.2  Minin g (excluding hydrocarbons)  ................................ ................................ .............  194 
4.2.3  Hydrocarbons  ................................ ................................ ................................ ....... 197 
4.2.3.1   Market characteristics  ................................ ................................ .........................  197 
4.2.3.2   Legal and institutional framework  ................................ ................................ .........  199 
4.2.3.3   Gas industry  ................................ ................................ ................................ ...... 202 
4.2.3.4   Taxation of the sector  ................................ ................................ .........................  204 
4.2.3.5  Incentives for the hydrocarbons industry  ................................ ...............................  205 WT/TPR/S/412 • Argentina  
 
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  4.2.4  Electricity  ................................ ................................ ................................ ............  208 
4.2.4.1   Characteristics of the sector  ................................ ................................ ................  208 
4.2.4.2   Regulatory framework and functioning of the market  ................................ ..............  209 
4.2.4.3   Incentives for the energy sector  ................................ ................................ ...........  213 
4.3  Manufacturing  ................................ ................................ ................................ .........  214 
4.3.1  Overview  ................................ ................................ ................................ .............  214 
4.3.2  Trade measures and support measures  ................................ ................................ .... 215 
4.4  Services  ................................ ................................ ................................ .................  220 
4.4.1  Main features  ................................ ................................ ................................ ....... 220 
4.4.2  Financial services  ................................ ................................ ................................ .. 221 
4.4.2.1   Main features  ................................ ................................ ................................ .... 221 
4.4.2.2   Banks and other financial intermediation institutions  ................................ ...............  222 
4.4.2.2.1   Main features  ................................ ................................ ................................ .. 222 
4.4.2.2.2   Legislative framework  ................................ ................................ ......................  228 
4.4.2.3   Capital market  ................................ ................................ ................................ ... 233 
4.4.2.4   Insurance and social security  ................................ ................................ ...............  238 
4.4.2.4.1   Main features  ................................ ................................ ................................ .. 238 
4.4.2.5   Legislative framework  ................................ ................................ .........................  239 
4.4.3  Telecommunications  ................................ ................................ ..............................  241 
4.4.4  Transport  ................................ ................................ ................................ ............  247 
4.4.4.1   Air tra nsport ................................ ................................ ................................ ...... 248 
4.4.4.2   Maritime transport  ................................ ................................ .............................  251 
4.4.5  Tourism  ................................ ................................ ................................ ...............  255 
5  APPENDIX TABLES  ................................ ................................ ................................ ... 260  
 
CHARTS  
 
Chart 1.1 Merchandise trade by main products, 2012 and 2020  ................................ ..............  42 
Chart 1.2 Merchandise trade by trading partner, 2012 and 2020  ................................ .............  43 
Chart 2.1 Trade agreements in force in Argentina in 2021  ................................ ......................  54 
Chart 3.1 Import process, 2020  ................................ ................................ .........................  63 
Chart 3.2 Frequency distribution of tariff rates, 2020  ................................ ............................  69 
Chart 3.3 Tariff lines subject to non -automatic import licensing, 2012 -20a ...............................  82 
Chart 3.4 Frequency distribution of export duties, 2020 -2021 ................................ ...............  101 
Chart 4.1 Structure of the telecommunications market, 2013 and 2020  ................................ . 246 
Chart 4.2 Air services agreement s, 2021  ................................ ................................ ...........  250 
Chart 4.3 Bulk port cargo, by type of operation, 2014 -20 ................................ ....................  254 
Chart 4.4 Containerized cargo, by port, 2014 -20 ................................ ................................  254 
 WT/TPR/S/412 • Argentina  
 
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TABLES  
Table 1.1 Basic economic indicators, 2012 -2020 ................................ ................................ ... 17 
Table 1.2 Non -financial public sector (NFPS) finances, 2012 -20 ................................ ..............  25 
Table 1.3 Tax expenditure in the Argentine Republic 2012 -20 ................................ .................  27 
Table 1.4 Main monetary indicators, 2012 -20 ................................ ................................ ....... 32 
Table 1.5 Balance of payments, 2012 -20 ................................ ................................ .............  37 
Table 1.6 Trade in services, 2012 -20 ................................ ................................ ..................  44 
Table 1.7 International investment position by functional category,  
at market value 2012 -20(Q2)  ................................ ................................ ............................  45 
Table 2.1 Ministries, 2013 -21 ................................ ................................ ............................  46 
Table 2.2 Distribution of tax revenues, 2013 -2021 ................................ ................................  48 
Table 2.3 Legislative powers of the Executive  ................................ ................................ ....... 49 
Table 2.4 Necessity and urgency decrees related to trade, 2013 -21 ................................ ........  50 
Table 2.5 Main ministries responsible for formulating and implementing trade policy  ..................  51 
Table 2.6 Scop e of trade policy, 2013 -21 ................................ ................................ ............  52 
Table 2.7 Disputes filed by Argentina since 2013  ................................ ................................ .. 53 
Table 2.8 New types of commercial companies  ................................ ................................ ..... 59 
Table 2.9 Reciprocal IPPAs and treaties for the avoidance of double taxation, 2021  ...................  59 
Table  3.1 Other institutions involve d in import procedures, 2021  ................................ ............  60 
Table  3.2 Institutions that were part of the VUCE  ................................ ................................ . 61 
Table  3.3 Import registers created or abolished, 2013 -20 ................................ ......................  63 
Table  3.4 Requirements for wine and grape must imports, 2020  ................................ .............  65 
Table  3.5 Preferential origin criteria  ................................ ................................ ....................  68 
Table  3.6 MFN tariff structure, 2012, 2019 and 2020  ................................ ............................  69 
Table  3.7 Tariff lines for which MFN tariffs are higher than bound tariffs, 2020  ..........................  70 
Table  3.8 Products subject to preferential tariff quotas, 2020  ................................ .................  71 
Table  3.9 Analysis of the tariffs applied to countries with which trade agreements have been 
signed, 2020  ................................ ................................ ................................ ...................  71 
Table  3.10 Goods and the domestic purchase requirement  ................................ .....................  72 
Table  3.11 Tax -exempt goods  ................................ ................................ ............................  73 
Table  3.12 Other tariff concessions, 2020 and 2021  ................................ ..............................  74 
Table  3.13 Goods temporarily exempt from import duties (COVID -19), 2020  ............................  75 
Table  3.14 Maximum statistical tax payable, 2020  ................................ ................................  77 
Table  3.15 VAT -exempt products  ................................ ................................ .......................  78 
Table  3.16 Imported products subject to the special reduced rate of 10.5%, 2020  .....................  78 
Table  3.17 Internal taxes on goods, 2012 and 2020  ................................ ..............................  79 
Table  3.18 Taxes on imports of liquid fuels, March 2021a ................................ .......................  80 
Table  3.19 Import prohibitions, 2020  ................................ ................................ ..................  81 
Table  3.20 Tariff lines subject to non -automatic import licensing, 2012 and 2020a .....................  83 
Table  3.21 Anti -dumping measures, 2013 -20 ................................ ................................ ....... 90 WT/TPR/S/412 • Argentina  
 
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  Table  3.22 Anti -dumping measures: share of total imports involved. Cases involving 
decisions adopted and measures in force, 2013 -19 ................................ ...............................  91 
Table  3.23 Registers for exporters, 2020  ................................ ................................ .............  93 
Table  3.24 Products requiring a quality standards certificate for export, 2020  ...........................  95 
Table  3.25 Amendments to the lists of products for which a DJVE must be submitted  ................  96 
Table  3.26 Time limits (from the shipment date) for bringing foreign currency into Argentina 
and liquidating it, 2020  ................................ ................................ ................................ ..... 97 
Table  3.27 Exports subject to reference values, 2020  ................................ ............................  98 
Table 3.28 Changes to export duties, 2012 -20 ................................ ................................ ..... 99 
Table 3.29 Emergency measures  ................................ ................................ ......................  102 
Table 3.30 Export duties, 2013 -20 ................................ ................................ ...................  102 
Table 3.31 Prohibition/restriction of exports, 2020  ................................ ..............................  103 
Table 3.32 Summary analysis of export duty  drawbacks, 2021  ................................ .............  105 
Table 3.33 Fiscal incentives, 2013 and 2020  ................................ ................................ ...... 109 
Table 3.34 Incentives for research, development and improved competitiveness,  
2013 and 2020  ................................ ................................ ................................ ..............  111 
Table 3.35 Definition of MSMEs  ................................ ................................ ........................  113 
Table 3.36 Key legal provisions in the area of technical standards and regulations, 2021  ..........  115 
Table 3.37 Technical regulations, 2021  ................................ ................................ .............  122 
Table 3.38 Legislation relating to sanitary and phytosanitary measures, 2021  .........................  124 
Table 3.39 Main sanitary and phytosanitary requirements and procedures, 2021  .....................  125 
Table 3.40 Enterprises and companies in which the State holds a majority stake  
in the capital  ................................ ................................ ................................ .................  138 
Table 3.41 State participation in private companies through the Sustainability  
Guarantee Fund  ................................ ................................ ................................ .............  139 
Table 3.42 Main laws and regulations in the area of government procurement  ........................  141 
Table 3.43 Methods, types and forms of public procurement,  2021 ................................ ........  143 
Table 3.44 Government procurement statistics, 2016 -2020, in millions of ARS and as a %  ....... 145 
Table 3.45 Participation in WIPO treaties, 2020  ................................ ................................ .. 149 
Table 3.46 Protection of intellectual property rights  ................................ .............................  150 
Table 3.47 Patents applied for and granted, 2013 -20 ................................ ..........................  155 
Table 3.48 Industrial designs: applications and registrations, 2013 -20 ................................ ... 156 
Table 3.49 Trademarks: reque sts and registrations, 2013 -20 ................................ ...............  157 
Table 4.1 Duties on soya beans, and on soya flours, meals and oils  ................................ ....... 169 
Table 4.2 Export duties and drawbacks applicable to grain maize, on maize flours,  
and on maize oils  ................................ ................................ ................................ ...........  171 
Table 4.3 Rates of export duty on the main agricultural products and by -products,  
January 2021  ................................ ................................ ................................ ................  177 
Table 4.4 Amendments to the lists of products for which a DJVE must be filed, 2015 -20...........  179 
Table 4.5 Agricultural products for which a DJVE must be filed, by eight -digit NCM sub -
heading, MAGyP Resolution No. 152/2020  ................................ ................................ .........  180 
Table 4.6 Special BNA lines of credit for the agricultural sector, 2021  ................................ .... 183 
Table 4.7 Fishery exports,  2013-20 ................................ ................................ ..................  191 WT/TPR/S/412 • Argentina  
 
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Table 4.8 Production of oil and oil derivatives (thousands of m3; millions of tonnes in the 
case of LPG)  ................................ ................................ ................................ ..................  197 
Table 4.9 Energy subsidies, 2013 -19 ................................ ................................ ................  199 
Table 4.10 Financial system indicators, 2013 -21 (February)  ................................ .................  225 
Table 4.11 Market indicators 2015 -20 ................................ ................................ ...............  237 
Table 4.12 Indicators for the telecommunications sector, 2013 -20 ................................ ........  241 
Table 4.13 A selection of telecommunications sector regulations  ................................ ...........  243 
Table 4.14 State -owned and mixed ownership enterprises in the air sector, 2021  ....................  249 
Table 4.15 Support provided to Aerolíneas Argentin as, 2013 -20 ................................ ...........  249 
Table 4.16 International air connectivity, 2013 -20 ................................ ..............................  250 
Table 4.17 International air traffic, 2013 -20 ................................ ................................ ...... 251 
Table 4.18 Key legislation on maritime transport  ................................ ................................  252 
Table 4.19 Ship movements  in Buenos Aires port, 2013 -20 ................................ ..................  253 
Table 4.20 International tourism statistics, 2013 -20 ................................ ...........................  255 
Table 4.21 Forms of authorization required to provide tourism services  ................................ .. 257 
Table 4.22 Loans available to the tourism sector  ................................ ................................  258 
 
BOXES  
Box 1.1 Measures adopted by Argentina to address the COVID -19 pandemic  ............................  23 
Box 1.2 Main points of the Law on social solidarity and reinvigorating production in the 
context of the public emergency  ................................ ................................ ........................  28 
Box 2.1 Procedure for the drafting and passing of laws  ................................ ..........................  49 
Box 2.2 Mechanism for the temporary reduction of tariffs due to regional supply shortages  ........  55 
Box 2.3 “Flex” coefficient  ................................ ................................ ................................ .. 56 
Box 3.1 Anti -competitive practices under the 2018 Law on the Defence of Competition  ............  129 
Box 4.1 Financial measures adopted to address the COVID -19 pandemic  ...............................  227 
Box 4.2 Constitution of Bolsas y Mercados Argentinos Sociedad Anónima (BYMA)  ....................  233 
Box 4.3 Adoption of digital technologies in SMEs  ................................ ................................  242 
Box 4.4 E -commerce in Argentina  ................................ ................................ ....................  243 
Box 4.5 Tourism Assistance, Training and Infrastructure Plan (PACIT)  ................................ ... 256 
 
APPENDIX TABLES  
 
Table A1. 1 Merchandise exports by HS section, 2012 -20 ................................ .....................  260 
Table A1. 2 Total merchandise imports by HS section, 2012 -20 ................................ .............  261 
Table A1. 3 Merchandise exports by trading partner, 2012 -20 ................................ ...............  263 
Table A1. 4 Merchandise imports by trading partner, 2012 -20 ................................ ...............  264 
 
Table A2. 1 Notifications, 1.1.2013 to 30.6.2021  ................................ ................................ . 265 
 
Table A3. 1 Summary analysis of the MFN tariff, 2020  ................................ ..........................  267 
Table A3. 2 Summary analysis of export duties, 2020 -21 ................................ ......................  269 
Table A3. 3 Definitive anti -dumping duties at 1  March  2021 ................................ ..................  270 WT/TPR/S/412 • Argentina  
 
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 SUMMARY  
1. The production and exportation of agricultural products are of particular importance for the 
Argentine economy. Argentina is one of the world's leading exporters of soya beans and soyabean 
by-products, maize and sunflowers. It is also a major producer and exporter of other cereals, beef 
(bovine meat) and dairy products. Value chains have been created for soya beans, maize, meat, 
sunflowers, dairy products and other products, which significantly contribute to GDP and 
employment and are major sources of foreign currency. Since Argentina's previous review in early 
2013, the production sectors linked to exports, particularly agriculture, have been the strongest 
performers. In general, the external sector has continued to play an important role in the Argentine 
economy. Despite the contraction in exports and the economy in general during the review period, 
exports have not only contributed to maintaining  the balance of payments and preventing a further 
decline in GDP, but have also been a significant source of public sector financing.  
2. The period under review saw overall domestic demand contract in real terms, which resulted 
in an average annual decline in  real GDP of 1.5% between 2012 and 2020 (0.3% if 2020 is excluded). 
On average, net exports contributed positively to GDP growth throughout the period 2012 -20. The 
weak economic growth and the devaluation of the Argentine peso against the US dollar resulte d in 
a stagnation and subsequent fall in GDP per capita, which declined from USD 13,932 in 2012 to 
USD 8,442 in 2020. From 2012 to 2020, the Argentine economy recorded high levels of inflation and 
external debt and there was strong pressure on the exchange  rate. In this regard, the contraction 
in GDP and the subsequent decline in income per capita are due partly to the measures adopted to 
contain inflation and to the increase in the fiscal deficit and public debt. The economic situation 
worsened as a result  of the health crisis, which intensified the economic recession that began in 
2018 and caused GDP to fall by 9.9% in 2020 and the unemployment rate to rise to 11%.  
3. The period under review saw growing fiscal deficits caused primarily by a drop in fiscal rev enue 
in real terms. Despite the high number of taxes in force, Argentina's level of fiscal revenue in relation 
to GDP is relatively low. One of the fiscal policy objectives is to boost revenue, which could be 
achieved by simplifying the tax system and carr ying out further tax reforms to complement those 
undertaken in 2017 and 2019. Argentina recorded an annual primary deficit during the period 
2012-20, which ranged from 0.2% to 4.2% of GDP for the national non -financial public sector 
(NFPS). In 2020, the pr imary deficit of the NFPS increased again to 6.5% of GDP and the national 
financial deficit to 8.5% of GDP, mainly as a result of the measures adopted to address the COVID -19 
pandemic and the decrease in fiscal revenue caused by the fall in economic activi ty. 
4. During the period under review, Argentina introduced a new methodology for measuring 
inflation, which provides greater coverage. In December 2016, the Greater Buenos Aires consumer 
price index (IPC -GBA), which reflected the price variations in that are a, was replaced by an index 
providing national coverage. This index rose by 24.8% in the 12 months to December 2017, and 
then saw an accelerated increase, reaching 53.8% in the 12 months ending in December 2019. In 
the 12 months to December 2020, the incre ase in the consumer price was down to 36%, partly due 
to weak domestic demand.  
5. Between 2012 and 2015, Argentina adopted monetary programmes with an expansionary 
approach in order to address its economic weaknesses. An inflation targeting scheme was 
implemented between 2015 and 2018, with a view to reducing inflation expectations. Thi s approach 
was abandoned in September 2018 due to the accelerated depreciation of the peso, greater price 
correction and an increase in inflation expectations. In order to contain inflation, a new monetary 
policy regime based on monetary base control and o utlining intervention zones for the exchange 
rate was adopted. However, in August 2019, inflation expectations and the perception of the risk 
associated with Argentine assets went up again, which led to a depreciation of the exchange rate, a 
rise in the be nchmark interest rate and a drop in international reserves. The depreciation of the peso 
caused inflation to accelerate, which resulted in the application of a more contractionary monetary 
policy and of measures aimed at regulating access to the foreign ex change market and reducing the 
loss of international reserves, such as the compulsory liquidation on the domestic market of the 
foreign exchange earnings of exporters of goods and services and the requirement for the Central 
Bank to authorize purchases by natural persons that exceed USD 10,000. Following the change of 
administration in 2020, a monetary and exchange rate policy was outlined, aimed at helping to 
normalize economic activity, supporting a gradual process of disinflation, promoting exchange rate  
stability and strengthening the international reserve position while maintaining the foreign exchange 
regulations in force in order to minimize possible pressures on the foreign exchange market. The WT/TPR/S/412 • Argentina  
 
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  monetary policy became more expansionary so as to addres s the negative effects of the COVID -19 
pandemic, in particular through an increase in credit.  
6. The current account of Argentina's balance of payments was in deficit each year within the 
period 2012 -19, although a surplus was recorded in 2020 (0.8% of GDP). This was mainly due to 
the decline in imports of goods and services following the contraction in domestic demand caused 
by the health crisis -related drop in levels of activity, and to the interest payment relief through the 
renegotiation of debt. The curre nt account deficit reached 5.2% of GDP in 2018 before declining 
significantly to 0.9% of GDP in 2019. The merchandise trade balance was in surplus for most of the 
period, although both exports and imports recorded a sharp fall between 2012 and 2019, of 19%  
and 28% respectively. 2020 saw a further contraction in both exports and imports, meaning that 
exports amounted to just 68% of the 2012 level, and imports to 62%.  
7. Argentina's total external debt increased significantly during the review period, from 
USD 156,478 million in 2012 (26.9% of GDP) to USD 271,505 million in 2020 (70.9% of GDP). 
In 2020, Argentina renegotiated its external debt with the creditors of securities issued under both 
foreign and Argentine law, which led to a reduction in rates and an ex tension of the maturity profile. 
Securities for USD 63,207 million and EUR 4,185 million were swapped in the negotiations with 
creditors subject to foreign law. In the renegotiation of the debt under domestic law, new bonds for 
USD 41,724 million and new i nflation -adjustable bonds (BONCER) for ARS 57,683 million were 
issued.  
8. During the period under review, active use was made of monetary, exchange rate and fiscal 
policies, and also of a number of trade policy instruments, including registration requirements  for 
imports and exports, import licensing and export taxes. At the end of 2019, Argentina introduced 
an emergency economic package with measures including subsidies for the most vulnerable, tax 
exemptions/reductions for low -income groups, an increase in e xport taxes, an increase in the 
statistical tax on imports from 1% to 3%, and the introduction of a 30% tax on foreign exchange 
transactions, effective for five years.  
9. International trade in goods accounted for 25.3% of GDP in 2020, a percentage similar to  that 
observed in 2012, despite the decline in trade flows. Between 2012 and 2020, Argentine exports of 
goods fell at an annual average rate of 4.6% (to USD 54,884 million in 2020) and imports decreased 
at an annual average rate of 5.7% (to USD 42,356 mill ion in 2020). The drop in exports largely 
reflects the deterioration in the terms of trade, while the fall in imports is a reflection of the weak 
domestic demand for both consumer and capital goods.  
10. Argentina is a major exporter of agricultural products, w hich continued to be its leading export 
item, accounting for 63.3% of the total in 2020. Seed oils, soya  beans, wheat, maize and beef 
(bovine meat) are the main export products. The share of manufactured goods in total exports 
decreased in the review perio d, mainly due to the steep fall in exports of automotive and chemical 
products. On the other hand, manufactured products accounted for 85% of imports in 2020. The 
evolution of the composition of imports over the review period shows an increase in the share  of 
machinery and equipment and chemical products, as well as a sharp decline in the importation of 
vehicles and fuels. The main markets for Argentine exports in 2020 were Brazil (14.5% of the total), 
the European Union (12.2%), China (9.6%), the United St ates (6.0%) and Chile (5.3%). The main 
sources of imports were Brazil (20.4% of the total), China (20.4%), the European Union (15.6%) 
and the United States (10.4%).  
11. During the period under review, Argentina had three successive administrations and saw a 
number of changes made to its institutional structure, in particular with regard to the functions and 
names of the various ministries. The Ministry of Foreign Affairs, International Trade and Worship; 
the Ministry of Productive Development; and the Ministry of Agriculture, Livestock and Fisheries are 
currently responsible for formulating and implementing trade policy.  
12. One of the main aims of Argentina's trade policy is to boost the country's participation in 
international trade by increasing and diversifying exports, for which reason the policy seeks to 
integrate SMEs into export activity and international value chains, and promote social inclusion. As 
part of its internationalization strategy, Argentina also considers that it is vital for women to play an 
even more prevalent role, since gender equality is fundamental for development and growth. 
Argentina continues to actively use trade policy measures as a tool to achieve objectives in areas WT/TPR/S/412 • Argentina  
 
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 that occasionally extend beyond trade. This includes objectives for b oth the long term (growth and 
economic development) and the short term (greater fiscal revenue, containment of inflation, or 
maintenance of the balance -of-payments equilibrium). Frequent amendments have been made to 
laws and regulations in order to fulfil various objectives through trade policy instruments. However, 
while these amendments seek to achieve concrete results, they may end up further complicating the 
trade regime by making it less predictable, and may even undermine the effectiveness of certain 
policies. For example, although export promotion is one of the main trade policy objectives and 
efforts are being undertaken to stimulate exports through measures such as export refunds and 
other incentives, export duties are being used at the same time to  achieve revenue targets, which 
discourages exports.  
13. Argentina is a founding Member of the WTO and grants, as a minimum, most -favoured -nation 
(MFN) treatment to all its trading partners and regularly submits notifications concerning its trade 
and related m easures. Argentina is of the view that it is important for the WTO to resume its central 
role in international trade and for there to be a rules -based, open and equitable multilateral trading 
system that contributes to inclusive development. Argentina advo cates the reduction of restrictions 
and distortions in the agriculture and fisheries sectors. The country also supports the discussions on 
new trade issues. Argentina ratified the Trade Facilitation Agreement and the Protocol Amending the 
TRIPS Agreement. The country is an observer in the Committee on Government Procurement, but 
has no immediate intention to accede to the Agreement on Government Procurement (GPA).  
14. Argentina is a founding member of the Southern Common Market (MERCOSUR). The period 
under revi ew saw the entry into force of the agreements concluded by MERCOSUR with Colombia, 
Egypt and the Southern African Customs Union (SACU). In 2019, MERCOSUR concluded agreements 
in principle with the European Free Trade Association (EFTA) and the European Uni on (EU). 2019  also 
saw Argentina agree new provisions for trade in automobiles with Brazil, Mexico and Paraguay. 
In the cases of Mexico and Brazil, the zeroing of tariffs had been planned for 2019 and 2020, but 
was postponed until 2022 and 2029, respective ly. 
15. Argentina grants national treatment to foreign investment. Foreign investors do not require 
authorization to invest, but foreign direct investment must be registered for statistical purposes. 
Foreign investors may transfer profits abroad, repatriate in vested capital, and pay interest, 
dividends, profits or royalties abroad, provided that they comply with the provisions regulating 
access to and the functioning of the foreign exchange market, which is currently subject to 
restrictions. Domestic and foreig n private investment is permitted in the majority of activities, with 
certain exceptions. There are limits on foreign participation in the media and certain restrictions on 
the purchase of land. Fishing in waters under Argentine jurisdiction and maritime c abotage services 
are generally reserved for Argentine nationals. In 2021, a new regime to promote investment in 
non-traditional export products was introduced, enabling exporters to use part of the foreign 
currency that they have earned through restriction -free exportation.  
16. The import and export requirements have not changed substantially since 2013. Importers 
and exporters must complete a one -off registration with Argentina's register of exporters and 
importers and with other special customs registries. During the period under review, Argentina 
abolished a number of its import registers, while others were maintained or established.  
17. Argentina's tariff is based on the MERCOSUR Common External Tariff (CET), which is currently 
based on the 2017 Ha rmonized System (HS). Argentina uses only ad valorem  tariffs, but the 
Executive is empowered to set specific import duties where necessary. In 2020, the simple average 
MFN tariff remained at its 2012 rate of 11.4%. The average applied MFN tariff for agricu ltural 
products (WTO definition) was 10.4% (10.1% in 2012). Like in 2012, this was below the protection 
accorded to non -agricultural products, namely, 11.5%. Argentina has no MFN tariff quotas. However, 
it has negotiated preferential tariff quotas under a number of its trade agreements. Argentina offers 
tariff concessions to promote certain economic sectors. In some cases, such concessions apply only 
to a specific quota. Exemptions are also offered for imports under certain import regimes and 
procedures, in cluding the temporary admission import regime, the in -factory customs procedure 
(RAF) and the free zone and special customs area regimes. In 2020, in response to the health 
emergency, Argentina temporarily exempted vaccines and disposable material from all  import duties 
and all other taxes, levies or contributions.  
18. In addition to tariffs, a statistical tax, a verification -of-destination tax, value added tax (VAT) 
and internal taxes (or selective consumption taxes) are levied on imports. These internal taxes , WT/TPR/S/412 • Argentina  
 
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  which affect sales and imports of certain goods (beverages, tobacco, motor vehicles and engines, 
vessels and aircraft for pleasure or sports, and electronic products), are levied on 130% of the value 
resulting from adding import taxes and the internal ta xes themselves to the customs value. The 
Executive may increase the rates of these taxes by up to 25%, reduce or cancel them where the 
economic situation requires such action to be taken. A number of the rates increased during the 
review period. Some produ cts are subject to a minimum tax; others are taxed only if the value is 
above a minimum selling price.  
19. Argentine legislation allows the authorities to prohibit imports (and exports) of goods for 
economic and non -economic reasons. Prohibitions laid down for  economic reasons seek to promote 
employment and domestic production, stabilize prices and protect industrial property and 
consumers. Non -economic prohibitions are imposed to protect public health and safety, artistic 
heritage and the environment, and to i mplement international treaties. Argentina currently uses 
prohibitions for non -economic reasons only.  
20. Administering import licences remains one of the main components of Argentina's trade policy. 
All goods imported for final consumption require either an a utomatic or a non -automatic import 
licence. The lists of products requiring each type of licence are updated as and when the 
circumstances so require, rather than at predetermined intervals, meaning that the number of 
products for which licences are requir ed changes regularly. In 2020, non -automatic licences were 
required for 14.3% of all tariff lines, which is a substantial increase on 2012, when only 6% were 
subject to non -automatic licensing. The types of products affected by the measure have not changed  
substantially since 2012. Most non -automatic licences are still for textiles, machinery and appliances, 
and base metals.  
21. During the period under review, Argentina continued to actively use anti -dumping measures. 
Between 2013 and 2020, the country initiate d 199 anti -dumping investigations, including reviews; 
imposed 151  definitive anti -dumping measures, including reviews; and accepted nine price 
undertakings. A total of 41  anti-dumping investigations – or 21% of those initiated during this 
period  – conclude d without the imposition of duties. In March 2021, there were 114 definitive 
anti-dumping measures and one provisional anti -dumping measure in place, compared to 85 
measures in force at the end of 2012. Definitive measures were imposed on 24 trading partne rs, 
especially China (55%  of measures), Brazil (12%) and India (5%). Most of the anti -dumping duties 
were applied to plastics and articles thereof, machinery and mechanical appliances, electrical 
equipment, tools and cutlery of base metal, and vehicles oth er than railway or tramway rolling -
stock, and parts and accessories thereof. The value of the imports in the dumping cases investigated 
between 2013 and 2019 ranged from USD 686 million to USD 958 million per year, representing 
between 1.2% and 1.7% of tot al imports. During the period under review, no investigation 
procedures were initiated under the Agreement on Subsidies and Countervailing Measures or the 
Agreement on Safeguards.  
22. Argentina applies a number of export requirements, such as exporter register s and the use of 
sworn declarations of foreign sales (DJVEs) to register exports of certain agricultural products. The 
use of DJVEs, the purpose of which is to ensure a more steady incoming flow of foreign currency 
and to provide information in advance on the projected volume of exports, was modified a number 
of times over the review period.  
23. Export duties are currently levied on all Argentine exports, with rates ranging from 0% 
to 33%. During the period under review, both the products subject to export duti es and the rates of 
such duties were modified on a number of occasions. In 2021, 92.7% of tariff lines were subject to 
a rate of less than 5%. Export duties are an important source of tax revenue; the revenue obtained 
from export duties increased progressi vely before peaking in 2019. In 2020, there was a decrease 
in the revenue obtained from export taxes, which was caused by the reduction of rates and decline 
in the volume of exports as a result of the health crisis. This revenue accounted for 13.5% of NFPS  
tax revenue, 5.7% of the total revenue obtained and 12.7% of the total value of exports. As a "major 
exporter" (with a share exceeding 5% of total global exports) of certain cereals, oil seeds and oilcake, 
and vegetable oils, Argentina's occasional applic ation of high export duties (such as for soya beans) 
could, to a certain extent, affect these products' terms of trade.  
24. Argentina offers fiscal incentives to promote exports, which include the free zone programme, 
drawback, an internal tax refund system, t he turnkey plant export regime, and a number of special 
customs regimes such as the Exporta Simple  (simplified export) regime and the temporary admission WT/TPR/S/412 • Argentina  
 
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 import regime for inputs. Argentina notified the WTO Committee on Agriculture that it had not 
granted any subsidies to exports of agricultural products over the period 2013 -19. 
25. During the period under review, various incentive programmes continued to be implemented 
at the national and provincial level, with the aim of promoting investment, competitiveness and 
exports. In addition to the sectoral incentives, there are a  number of horizontal programmes that 
seek to stimulate investment and technological innovation, promote the development of SMEs, and 
facilitate access to credit at preferential or fixed inter est rates. There are also incentive programmes 
for specific geographical areas. Argentina has notified to the WTO the sectoral incentive programmes 
for mining, forestry activity and capital goods, information technology and telecommunications 
products, as well as the free zone regimes.  
26. The preparation and review of mandatory technical regulations is the responsibility of the 
relevant ministry or regulatory authority. As a general rule, Argentine technical regulations are based 
on international or regional s tandards. There is no legally -established timeframe after which 
technical regulations are to be reviewed; the authority responsible decides when the review takes 
place. Between 1 January  2013 and 31 December 2020, Argentina submitted 360 notifications to 
the WTO Committee on Technical Barriers to Trade. Of these, 129 were regular notifications, of 
which 118 concerned draft technical regulations. During the period under review, no concerns were 
raised by Argentina's trading partners regarding the country's t echnical regulation -related practices.  
27. While sanitary and phytosanitary (SPS) measures are formulated, adopted and implemented 
by a number of institutions, these institutions all follow a similar procedure for the preparation of 
such measures. In 2017, it was decided that resolutions introducing new SPS measures must 
expressly set a period of validity not exceeding four years, which may only be extended once. An 
import authorization is required for the entry into the country of products and by -products of p lant 
or animal origin or food items from abroad, which must meet all the relevant sanitary, phytosanitary, 
zoosanitary and/or safety requirements. In addition to the import authorization, a phytosanitary 
import authorization (AFIDI) is required for imports  of plants or parts thereof that are considered to 
pose a phytosanitary risk. Between 1 January 2013 and 31 December 2020, Argentina submitted 
99 SPS notifications (including addenda and corrigenda) to the WTO. During this period, 
WTO Members did not expre ss any new trade concerns regarding the SPS measures adopted by 
Argentina.  
28. In 2018, Argentina passed a new competition law that modernizes its legislation in the area, 
establishes a new competent authority, withdraws all relevant powers granted to other st ate bodies 
or entities, and incorporates new elements such as leniency programmes and civil fines in favour of 
the injured party. The new law draws a distinction between prohibited, absolutely restrictive and 
restrictive practices. The law applies to all p ublic or private natural or legal persons that undertake 
economic activities in Argentine territory, as well as to those engaged in economic activities abroad, 
insofar as these activities may have an effect on the domestic market. It also incorporates new 
provisions on mergers, which set new thresholds for their notification and provide that the merger 
may only be completed once approved by the competent authority. In contrast, the previous law 
allowed notification to be given up to one week after the compl etion of the transaction.  
29. Argentina continues to apply price regulation and marketing policies. The legislation in this 
area was amended in 2014 and authorizes the implementing authority to establish profit margins, 
reference prices and maximum and minimum  prices; issue marketing, intermediation, distribution 
and/or production regulations; and set minimum levels or quotas for production, industrialization, 
marketing, transport, distribution or provision of services, in order to ensure domestic supply. Due 
to the COVID -19 pandemic, this type of measure was used for various medical products and 
instruments and medicines. Moreover, in December 2019, an agreement was reached with 
pharmaceutical companies to reduce medicine prices by 8% and subsequently freeze th ese prices 
(currently until 31 October 2021). The State also works to reach agreements with the various trade 
associations concerning the prices of a number of products, such as certain cuts of beef, tobacco, 
some hydrocarbons, and electricity and basic te lephone tariffs, in addition to subsidizing the price 
of liquefied petroleum gas (LPG) for household consumption. Since 2014, price agreements have 
been signed with supermarkets and manufacturers of basic consumer goods that are part of the 
Precios Cuidado s (preserved prices) programme. As of March 2021, the list of preserved retail prices 
contained 685 products, mainly frozen foods, pasta, dairy products, bread, cold meats, beverages, 
certain cuts of meat, vegetables, and also lighting, perfumery and clean ing products. There is also WT/TPR/S/412 • Argentina  
 
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  a list of preserved wholesale prices, which, in March 2021, contained 460 headings, as well as a list 
of preserved construction prices with 117 headings.  
30. Argentina is not party to the WTO Plurilateral Agreement on Government Pro curement, but 
has been an observer in the Committee on Government Procurement since 1997. The Argentine 
procurement system is organized on the basis of a centralized approach to policies and regulations, 
and a decentralized approach to operational manageme nt. Invitations to tender, basic specifications 
and conditions, the tender opening record, the evaluation ruling, contract awards and purchase 
orders are made available on the COMPR.AR electronic procurement system. The electronic portal 
for the procuremen t of public works (CONTRAT.AR) is used for the procurement of public works in 
electronic form. Under current rules, contracts are to be awarded to the bid that is most 
advantageous for the contracting agency in terms of price, quality, bidder suitability a nd other 
conditions of the bid. The granting of preferences is authorized under the procurement regime. 
Preferences for goods of domestic origin are granted for all procurement with a value exceeding the 
direct contracting threshold. The margin of preferen ce for tenders of goods of domestic origin is 15% 
for MSMEs and cooperatives and 8% for other enterprises. In 2020, the most used government 
procurement procedure was open tendering (51.1% of the total), followed by direct contracting 
(38.8%) and selective  tendering (10.2%).  
31. The WTO Agreement on Trade -Related Aspects of Intellectual Property Rights (TRIPS) forms 
part of Argentine legislation. Argentina is party to a number of the treaties administered by the 
World Intellectual Property Organization (WIPO) a nd since the previous review in 2013 has acceded 
to the Marrakesh VIP Treaty. Argentina is also party to non -WIPO multilateral intellectual property 
treaties. During the period under review, Argentina signed the Convention on Cybercrime, the 
Nagoya Protoco l on Access to Genetic Resources and the Fair and Equitable Sharing of Benefits 
Arising from their Utilization to the Convention on Biological Diversity, and the International Treaty 
on Plant Genetic Resources for Food and Agriculture. The prioritized exam ination of patents (PEP) 
programme was established in 2019 to speed up the substantive examination of applications and 
thus the registration of inventions.  
32. The agricultural sector is very important for Argentina because of the scale of its production 
and its contribution to exports and GDP. Agriculture's share of GDP (including  livestock and forestry, 
but not food processing) was 6.5% in 2020. Argentina is one of the world's leading producers of 
sunflower seed oil, soya beans and soyabean oil, honey, lemons  and beef (bovine meat). The 
country's chief exports are oilseed -related products, livestock products and cereals. The average 
MFN tariff applied to agricultural products (WTO definition) in 2020 was 10.4% lower than the overall 
average. Argentina has no t ariff quotas at the multilateral level, but it does apply a small number of 
preferential tariff quotas under regional trade agreements. Export duty is payable on agricultural 
products and currently ranges from 5% to 33%. Argentina uses the previously -menti oned DJVEs to 
keep a register of exports of certain agricultural products.  
33. Argentina maintains a series of domestic support programmes for the agricultural and 
agro-industrial sector. An interest -rate subsidy programme for small -scale agricultural producer s is 
implemented through banking institutions in order to finance, above all, investment and working 
capital for dairy, livestock, pork, poultry and honey production. A series of programmes are also run 
to facilitate, fund and promote agricultural activity , innovation and development in production, with 
a view to enhancing the competitiveness of the agro -industrial sector. One of the main federal 
programmes is the provincial agricultural services programme (PROSAP), through which projects 
are implemented to  increase the coverage and quality of rural infrastructure and agri -food services. 
PROSAP, which provides non -repayable contributions of up to 60% of the investment, is mainly 
geared towards primary producers and MSMEs seeking to integrate into value chain s. In addition, 
the Cambio Rural  (rural change) programme encourages agri -food and agro -industrial MSMEs, the 
cooperative sector and family farmers to innovate and form partnerships to develop projects aimed 
at improving output and increasing added value. The National Agro -Industrial Trust Fund 
(FONDAGRO), created in 2016, finances projects through non -repayable contributions and direct 
credit at below -market interest rates.  
34. Living marine resources in waters under Argentine jurisdiction may only be exploited by 
natural persons domiciled or legal persons incorporated in Argentina that have obtained a fishing 
permit. Fishing vessels must be listed in the national register. Catch es must also be unloaded in 
Argentine ports, except in cases of force majeure and subject to prior authorization. A fishing quota 
must be allocated or a fishing permit obtained if the species is not subject to a quota. In 2019, WT/TPR/S/412 • Argentina  
 
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 Argentina notified the WTO t hat the country had no specific programmes for fisheries subsidies 
during the period from 1 July 2016 to 30 June 2018.  
35. Mining policy is formulated at the national and provincial levels. A number of agreements have 
been reached between the national governme nt (the Government) and the provinces, the most 
recent of which was signed in 2017 and establishes certain limits on royalty amounts and contains 
environmental provisions and clauses aimed at promoting the use of Argentine components, the 
employment of Arg entine workers and the granting of preferential treatment for SMEs in the mining 
sector. The private sector may explore and exploit mineral resources without prejudice to the State's 
ownership. The holder of a concession has an exclusive right that is not time bound. Duty is payable 
on the export of mining products. The rate for the majority of MERCOSUR Common Nomenclature 
(NCM) tariff headings corresponding to mining is currently 4.5%. A number of tax benefits are 
granted for mining activities, including f iscal stability for 30 years, exemption from the payment of 
export duties, and exemption from tariffs and the statistical tax payable for the import of capital 
goods, parts and inputs. The investment promotion regime for hydrocarbons exploitation, 
establis hed in 2013, allows for 20% of hydrocarbons production to be marketed freely on the foreign 
market with an export duty of 0%, and for 100% of the foreign currency earned through exportation 
to be kept for use. Tariff reductions are granted for the importat ion of capital goods for petroleum 
companies' investment projects, and used goods may be imported for the hydrocarbons industry 
with a zero or reduced tariff if a certain percentage of new domestic goods are also being acquired.  
36. The GDP share of the manufa cturing sector (including food processing) fell from 15.2% in 
2012 to 13.9% in 2020. The decline in the performance of the manufacturing industry is due partly 
to competitiveness problems and weak domestic demand. Argentina provides assistance to its 
manuf acturing sector through horizontal fiscal incentive programmes and export promotion 
schemes. The manufacturing sector may access special credit facilities for research and development 
projects and technological development and innovation. SMEs in the manuf acturing sector are 
eligible for a number of additional tax incentives, an interest subsidy regime and credit access 
services through mutual guarantee societies. There is also a regime of incentives aimed at promoting 
the domestic manufacture of capital go ods, information technology and telecommunications 
products, which consists of a transferable tax credit bond equivalent to a percentage of sales. The 
implementation of the national programme for productive transformation (PNTP) began in 2016, 
with a view to promoting the transformation of companies affected by production, employment or 
export losses or by a significant increase in imports of like products. The automotive industry is 
eligible for a variety of incentives, including a cash refund on the value  of purchases of domestic 
auto parts.  
37. The financial system's penetration is low, although there were improvements during the 
review period. The authorities have sought greater financial inclusion through the reduction of costs, 
the digitalization of operat ions and the development of the National Strategy for Financial Inclusion. 
Efforts have also been made to facilitate access to credit for SMEs, particularly since the beginning 
of the COVID -19 pandemic. During the period under review, the Argentine financi al system 
continued to show solvency levels above the minimum prudential requirements, even during the 
most difficult economic times and in spite of the negative effects of the health crisis. The banking 
sector is relatively concentrated, with the five lar gest banks holding over 50% of assets in 2020. 
Public banks have a significant share in terms of assets. Insurance companies must be limited 
companies, cooperative associations and mutual insurance companies, or branches or agencies of 
foreign companies, a nd their sole purpose must be to carry out insurance transactions. 
The authorization of new insurance operators is subject to the expediency of their role in the market.  
38. In 2014, a new law was passed to regulate the telecommunications sector, which allows for 
the convergence of services and guarantees that all users have the same type of access to the 
Internet in terms of speed and content. Various institutional changes were also introduced, including 
the establishment of the new regulatory body in 2015. Ar gentina has implemented a number of 
regulatory measures and a range of strategies to enhance access to and the use of information and 
communications technology and stimulate the digital transformation. This has led to a continued 
increase in electronic com merce since 2013, and particularly in 2020 on account of the pandemic. 
Two operators merged in 2017, creating the country's main telephone and Internet provider. The 
tariffs of essential and strategic public services are regulated; other tariffs are determ ined freely.  
39. Since 2013, the transport policy has sought to create a more efficient and cheaper multimodal 
transport system in order to ensure the competitiveness of exports and support trade policy. A plan WT/TPR/S/412 • Argentina  
 
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  has been implemented to restructure facilities an d streamline container operations at the Port of 
Buenos Aires, which has resulted in the reduction of container handling costs. As the main provider 
of a number of services at airports, the State continues to be highly involved in the air transport 
sector.  Aerolíneas Argentinas, a state company, is the biggest airline on the domestic market in 
terms of passenger transport and one of the biggest for international transport. Despite this, the 
company requires state support in order to continue operating.  
40. Tourism is an important part of Argentine service exports. During the period under review, 
the sector's share of service exports fluctuated bet ween 36.8% in 2016 and 49.3% in 2014, falling 
to 17.8% in 2020 owing to the pandemic. The sector has been badly affected by the 2020 health 
crisis, for which reason a number of measures have been drawn up to support it.WT/TPR/S/412 • Argentina  
 
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 1   ECONOMIC ENVIRONMENT  
1.1  Main features of the economy  
1.1.  The Argentine economy continues to be based on exports of agricultural products. In this 
regard, "value chains " have been created for various products, such as soya beans, maize (corn), 
meat, sunflower seeds and dairy products, comprising goods with varying degrees of value added. 
These value chains contribute significantly to GDP and employment, and are major sour ces of foreign 
currency.  
1.2.  At the macroeconomic level, the Argentine economy has, in recent years, recorded insufficient 
or negative growth rates, high levels of inflation and external debt, and strong pressure on the 
exchange rate. The high levels of inflat ion may also have contributed to the continued low level of 
banking access  and financial inclusion. The external sector has continued to play a key role in 
Argentina. Although goods  exports have contracted, along with the economy in general, they not 
only have contributed to maintaining the balance of payments and preventing a further decline in 
GDP, but also have constituted a significant source of public sector financing at the nat ional level.  
1.3.  The review period was relatively difficult for Argentina in economic terms. Real GDP initially 
stagnated and then decreased, contracting at an average annual rate of 0.3% between 2012 and 
2019. For 2020, preliminary data indicate that, owing p rimarily but not exclusively to the effects of 
the COVID -19 pandemic, real GDP fell by 9.9%, as a result of an average annual real GDP contraction 
rate of 1.5% between 2012 and 2020. The lack of economic growth in this period, together with a 
depreciation of the peso against the US dollar, resulted in a contraction of GDP per capita in dollar 
terms, which fell from USD 13,952 in 2012, with a peak of USD 14,952 in 2015, to USD 9,912 in 
2019, and a preliminary level of USD 8,442 in 2020 (Table 1.1). The vario us Argentine 
administrations adopted measures and programmes to stimulate the economy, curb inflation and 
promote growth. One of the main challenges has been to address the growing public debt. In this 
regard, in August 2020, USD 66 billion in debt with pr ivate creditors under foreign legislation was 
restructured, as well as USD 41 billion in debt under domestic legislation (see below). In May  2021, 
Argentina was considering a restructuring of its debt with the International Monetary Fund ( IMF). 
1.4.  During the review period, and as was the case in the periods analysed in the two previous 
Reviews, the production sectors linked to exports, particularly agriculture, recorded the best 
performance. The sectors oriented towards the domestic market, such as the manufac turing and 
construction sectors, and some service activities, contracted during the review period, reflecting the 
weakness of domestic demand (Table 1.1).  
Table 1. 1 Basic economic indicators, 2012 -2020  
 
2012  2013  2014  2015  2016  2017  2018a 2019b 2020b 
Gross domestic product (GDP)           
Current GDP (ARS billion)  2,638  3,348  4,579  5,955  8,228  10,660  14,543  21,447  27,021  
Current GDP (USD billion)  581 613 567 645 558 644 518 445 383 
Real GDP, growth rate (%)  -1.0 2.4 -2.5 2.7 -2.1 2.8 -2.6 -2.1 -9.9 
Per capita GDP (current USD)  13,932  14,533  13,289  14,952  12,790  14,613  11,634  9,912  8,442  
By branch of economic activity (% of current GDP)  
Agriculture, livestock, hunting and forestry  5.6 5.8 6.5 4.9 6.0 5.0 4.9 5.7 6.5 
 Agricultural crops  3.1 3.4 3.8 2.3 3.8 3.0 3.0 3.6 4.0 
 Animal husbandry  2.1 1.9 2.2 2.3 1.8 1.6 1.5 1.7 2.0 
 Agricultural and livestock services  0.3 0.3 0.4 0.3 0.3 0.3 0.3 0.4 0.4 
 Forestry, logging and related services  0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
Fisheries  0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.4 0.3 
Mining and quarrying  3.3 2.9 3.7 3.2 3.2 2.9 3.8 4.0 3.1 
 Mining of coal and lignite; extraction of peat; 
extraction of crude petroleum and natural gas; 
related services, other than prospecting  2.4 2.2 3.0 2.6 2.6 2.3 3.2 3.2 2.3 
 Mining of metal ores   
  Mining and quarrying  0.9 0.7 0.7 0.6 0.6 0.6 0.6 0.8 0.8 
Manufacturing  15.2 15.0 14.8 14.2 13.5 12.8 12.8 13.0 13.9 
 Manufacture of food and beverages  4.3 4.2 4.3 4.1 4.1 3.9 3.9 4.1 4.5 
 Manufacture of chemicals and chemical 
products  1.7 1.7 1.7 1.6 1.7 1.6 1.7 1.8 2.0 
 Manufacture of base metals  1.0 1.0 1.1 0.8 0.7 0.8 1.0 1.0 0.9 
 Manufacture of machinery and equipment  0.9 0.9 0.9 0.8 0.8 0.8 0.7 0.7 0.8 
 Manufacture of rubber and plastics products  0.8 0.8 0.7 0.8 0.7 0.6 0.6 0.6 0.7 
 Manufacture of non -metallic mineral products  0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.7 WT/TPR/S/412 • Argentina  
 
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2012  2013  2014  2015  2016  2017  2018a 2019b 2020b 
 Manufacture of fabricated metal products, 
except machinery and equipment  0.7 0.7 0.6 0.6 0.6 0.6 0.6 0.6 0.6 
 Manufacture of paper and paper products  0.4 0.4 0.4 0.5 0.4 0.4 0.4 0.5 0.5 
 Manufacture of motor vehicles, trailers and 
semi-trailers  0.7 0.7 0.6 0.6 0.6 0.6 0.6 0.5 0.5 
 Publishing and printing; recorded media  0.6 0.6 0.5 0.5 0.5 0.5 0.4 0.4 0.5 
 Other  3.4 3.4 3.3 3.3 2.8 2.5 2.3 2.2 2.2 
Electricity, gas and water  1.1 1.2 1.2 1.2 1.5 1.7 2.4 2.6 2.3 
Construction  4.9 4.9 4.6 4.6 3.8 4.3 4.0 3.8 3.2 
Wholesale and retail trade, and repairs  12.3 12.3 12.1 13.6 13.4 13.8 13.6 13.4 14.8 
Hotels and restaurants  2.1 2.0 2.0 2.1 2.1 2.2 2.0 2.0 1.1 
 Hotels; campgrounds and other types of 
temporary accommodation  0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.1 
 Restaurants, bars and canteens  1.7 1.7 1.7 1.8 1.7 1.9 1.7 1.7 1.0 
Transport and communications  5.7 5.6 5.5 5.4 5.4 5.6 5.8 6.0 5.2 
 Transport  3.2 3.3 3.4 3.2 3.2 3.4 3.7 3.8 2.9 
 Communications  2.6 2.3 2.2 2.2 2.1 2.2 2.1 2.2 2.3 
Financial intermediation  3.5 3.6 3.5 3.3 3.9 3.9 4.0 3.5 4.5 
Real estate, business and rental activities  9.4 9.6 9.1 9.4 9.3 9.9 10.1 9.9 10.0 
Public administration and defence; compulsory 
social security  7.0 7.2 7.3 7.8 7.9 7.7 7.0 6.7 6.4 
Education  5.1 5.1 5.0 5.5 5.4 5.4 5.1 5.0 5.2 
Health -related and social services  4.7 4.8 4.8 5.0 5.2 5.3 4.9 4.7 4.4 
Other community, social and personal service 
activities  3.0 3.0 2.8 2.9 2.9 2.9 2.7 2.6 2.0 
Private households with domestic employees  0.7 0.8 0.7 0.7 0.7 0.7 0.7 0.6 0.6 
Taxes on products, net of subsidies  8.3 7.9 8.2 8.0 7.8 7.8 7.4 8.3 8.6 
Value added tax  7.2 7.4 7.2 7.3 7.1 7.2 7.6 7.1 7.1 
Import duties  0.6 0.7 0.7 0.6 0.7 0.7 0.7 0.8 0.7 
By type of expenditure (real annual growth, at 2004 prices)  
Global demand  -1.8 2.7 -4.4 3.1 -0.5 5.5 -3.0 -5.9 -11.5 
Total consumption  1.4 3.9 -3.3 4.2 -0.7 3.9 -2.1 -5.7 -11.7 
 Private consumption  1.1 3.6 -4.4 3.7 -0.8 4.2 -2.2 -6.6 -13.1 
 Public consumption  3.0 5.3 2.9 6.9 -0.5 2.6 -1.7 -1.0 -4.7 
Gross fixed capital formation  -7.1 2.3 -6.8 3.5 -5.8 13.4 -6.0 -16.0 -13.0 
Changes in inventoriesc -134.0  -185.5  45.7 72.9 20.9 75.8 -86.2 -147.7  -423.4  
Exports f.o.b. (goods and services)  -4.1 -3.5 -7.0 -2.8 5.3 2.6 0.5 9.0 -17.7 
Imports f.o.b. (goods and services)  -4.7 3.9 -11.5 4.7 5.8 15.6 -4.5 -19.0 -18.1 
Statistical discrepancyd - - - - - - - -1,357.1  -177.7  
Other economic indicators (% of current GDP)  
Gross national savings  16.2 15.2 15.9 14.3 14.6 13.1 14.4 15.8 […] 
Employment           
Activity rate (%, end of period)  46.3 45.6 45.2 44.8 45.3 46.4 46.5 47.2 45.0 
Unemployment rate (%, end of period)  6.9 6.4 6.9 5.9 7.6 7.2 9.1 8.9 11.0 
Employment rate (%, end of period)  43.1 42.7 42.1 42.2 41.9 43 42.2 43 40.1 
Underemployment rate (%, end of period)  6.4 5.1 6.1 5.9 7.2 7.2 8.7 9.5 10.3 
Memorandum           
Economically active population (urban  total, end 
of period, thousand)e 12,101  12,077  12,091  12,049  12,545  12,946  13,106  13,436  12,072  
Population (million)  41.7 42.2 42.7 43.1 43.6 44.0 44.5 44.9 45.4 
Current account balance, % of GDP  -0.4 -2.1 -1.6 -2.7 -2.7 -4.8 -5.2 -0.9 0.8 
a Provisional data.  
b Preliminary data.  
c Includes changes in inventories of the main partly finished and finished agricultural products, 
livestock products, petroleum, manufactured products and imported products. Statistical discrepancy 
is included in the final years of the review period.  
d Includes changes in unrecorded inventories (other agricultural products, other mining and 
inventories of domestic products in commercial establishments).  
e Data for the third quarter of 2020.  
Source:  Instituto Nacional de Estadística y Censos, INDEC (National I nstitute of Statistics and Censuses), 
Ministerio de Producción y Trabajo  (Ministry of Production and Labour); Banco Central de la 
República Argentina , BCRA (Central Bank of Argentina)  
1.5.  During the review period, the agricultural sector recorded an above -average performance, 
particularly in terms of purely agricultural activity, since livestock farming contracted. The GDP share 
of the agricultural sector (including hunting and forestry), measured in current prices, rose from 
5.6% in 2012 to 6.5% in 2020. Howev er, the GDP share of manufacturing declined as a result of 
several factors, such as a decrease in real income and its impact on domestic demand, an increase 
in costs and a loss of relative competitiveness caused by the real appreciation of the Argentine pe so 
during the review period. However, the GDP share of manufacturing continues to be of relative 
importance (13.9% in 2020).  WT/TPR/S/412 • Argentina  
 
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 1.6.  During the review period, some areas of the services sector recorded an improved performance 
and gained GDP share, namely: wholesal e and retail trade, and repairs, which increased from 12.3% 
of GDP in 2012 to 14.8% in 2020; real estate, business and rental activities, which rose from 9.4%  
of GDP  in 2012 to 10.0% in 2020; and financial intermediation, which grew from 3.5% of GDP to 
4.5%. The transport and communications sector and the hotels and restaurants sector were 
particularly affected by the COVID -19 pandemic, the former with a decline in GDP share from 5.7% 
in 2012 to 5.2% in 2020, and the latter down from 2.1% to 1.1%.  
1.2  Recent ec onomic developments  
1.2.1   Economic developments and economic policy measures  
1.7.  For most of the review period, Argentina recorded a contraction or weak economic growth, and 
real GDP shrank at an average annual rate of 0.3% between 2012 and 2019. Taking into account  
the decrease recorded in 2020, which was mainly due to the negative effects of the COVID -19 
pandemic, the Argentine economy contracted in real terms at an average annual rate of 1.5% 
between 2012 and 2020. Only three years of positive growth were observed  during the review 
period: 2013, 2015 and 2017. In these years, growth was driven primarily by domestic demand.  
1.8.  Until 2012, the Argentine economy had performed well, aided by favourable external 
conditions, which included high commodity prices and strong d emand for Argentine exports. From 
2012 onwards, the terms of trade began to deteriorate and revealed a series of underlying 
imbalances that included an overvalued real exchange rate, high inflation and a fall in international 
reserves. The authorities resp onded by progressively strengthening administrative, foreign 
exchange and price controls, and by granting incentives. However, the economy went into recession 
at the end of 2015, with a year -end inflation rate of 27%.1 
1.9.  As from the end of 2015, under the n ew Government, a comprehensive strategy of progressive 
reforms was adopted, which included a reduction in public spending, the liberalization of external 
transactions, and a mechanism to lower inflation. The efforts made by the authorities were focused 
on restoring credibility and achieving inclusive, balanced and sustainable growth.2 Price controls 
were eliminated, as were most export taxes. Furthermore, Argentina renegotiated its debt with 
foreign private creditors with which it had long -standing disputes, and reduced subsidies for the 
provision of public services. Fiscal objectives were established, and the Central Bank of  Argentina 
(BCRA) adopted an inflation targeting regime.  
1.10.  More specifically, provision was made for the liberalization of foreign exchange restrictions, 
and a decision was taken to float the exchange rate. Official a nd parallel foreign exchange markets 
were unified, and the overestimated evaluation of the Argentine peso was corrected by means of a 
depreciation of 40% of the official rate in December 2015.3 Furthermore, a fiscal consolidation plan 
was announced in ord er to achieve a primary balance of zero by 2019. Regarding inflation targets, 
an expected range of inflation of between 20% and 25% was announced for the end of 2016, which 
was to be gradually reduced to 5% at the end of 2019, with the initiation of a tran sition towards an 
actual inflation targeting regime. Public utility rates, which had been frozen for several years, were 
also increased by an average of 250% for electricity and subsequently within a range of between 
100% and 300% for natural gas, water an d transport.4 It was also decided to eliminate taxes on 
exports of wheat, maize (corn), sorghum and meat. Exports taxes were maintained only for soya 
beans and soyabean products at a reduced rate of 30% and 27%, respectively.  
 
1 IMF (2016), IMF Country Report No. 16/346 Argentina: 2016 Article IV Consultation —Press Release; 
Staff Report; and Statement by the Executive Director for Argentina , November 2016. Viewed at: 
https://www.imf.org/external/pubs/ft/scr/2016/cr16346.pdf .  
2 IMF (2017), IMF Country Report No. 17/409 Argentina: 2017 Article IV Consultation —Press Release; 
Staff Report; and Statement by the Executive Director for Argentina , December 2017. Viewed at: 
https://www.imf.org/external/pubs/ft/scr/2017/cr17409.pdf . 
3 IMF (2016), IMF Country Report No. 16/346 Argentina: 2016 Article IV Consultation —Press Release; 
Staff Report; and Statement by the Executive Director for Argentina , November 2016. Viewed at: 
https://www.imf.org/external/pubs/ft/scr/2016/cr16346.pdf .  
4 The existence of a social tariff enabled one fifth of consumers to receive a fixed amount of free 
electricity and a signif icantly subsidized tariff for natural gas. IMF (2016), IMF Country Report No. 16/346 
Argentina: 2016 Article IV Consultation —Press Release; Staff Report; and Statement by the Executive Director 
for Argentina , November 2016. Viewed at: https://www.imf.org/external/pubs/ft/scr/2016/cr16346.pdf . WT/TPR/S/412 • Argentina  
 
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  1.11.  In November 2016, the first m onitoring mission to Argentina since 2006 was conducted, in 
accordance with Article IV of the Articles of Agreement of the IMF. During the consultation, the 
IMF Executive Directors underscored the need to continue to lower the fiscal deficit, streamline pu blic 
spending and eliminate energy subsidies. They also recommended establishing a clear price stability 
mandate for the BCRA, eliminating monetary financing of the deficit, and introducing measures to 
reduce barriers to trade.5 In a review in November 20 17, the IMF Directors encouraged Argentina 
to take measures to eliminate distortive taxes, and to consider the adoption of a fiscal anchor in the 
medium term and a mechanism to ensure compliance.6 
1.12.  Through the liberalization of the foreign exchange market,  access to international capital 
markets was regained and around USD 37.8 billion in bonds was issued in global markets in the first 
ten months of 2016. However, the liberalization of the foreign exchange market led to a significant 
depreciation of the pes o, an increase in inflation, capital flight and the loss of international reserves 
from 2018 onwards (see below). Due to the deterioration of the balance -of-payments current 
account, in September 2018, a foreign exchange clamp (restrictions on the foreign exchange 
market) was established, which imposed a purchase limit of USD 10,000. Export duties were 
reintroduced for products for which such duties had been eliminated, and rates for other products 
were increased. In October 2019, a new restriction was impo sed on the foreign exchange market, 
whereby the purchase of only USD 200 per month was permitted for individuals with a bank account, 
or USD 100 for the use of cash.  
1.13.  In 2018, the IMF identified a "shift in market sentiment and a [...] confluence of factors  [that] 
have placed Argentina under significant balance of payments pressures ".7 Due to a significant 
outflow of capital, portfolio investment liabilities increased by around USD 77 billion in 2016 and 
2017, which resulted in a loss of international reser ves amounting to USD 29 billion. The Argentine 
Government requested support from the IMF to address the pressures on the balance of payments. 
In June 2018, the IMF Executive Board approved a three -year stand -by arrangement  for Argentina 
amounting to USD 50  billion (equivalent to SDR 35,379 million, or around 1 ,110% of Argentina 's 
quota in the IMF).8 An immediate disbursement of USD 15 billion (equivalent to SDR 10,614 million, 
or 333% of Argentina 's quota) was authorized, of which USD 7.5 billion was to be used for budget 
support. The remaining USD 35 billion was to be made available over the duratio n of the 
arrangement, subject to quarterly reviews. The economic plan submitted by the Argentine 
authorities and backed by the IMF focused on four pillars: (a) restoring market confidence via a 
consistent economic programme aimed at lessening federal finan cing needs and putting Argentina 's 
public debt on a downward trajectory (these efforts were to be based on a fiscal adjustment with a 
view to the federal government achieving a primary balance by 2020); (b) protecting the most 
vulnerable segments of societ y; (c) strengthening the credibility of the BCRA 's inflation -targeting 
framework; and (d) progressively reducing the strain on the balance of payments, rebuilding 
international reserves and mitigating vulnerability to pressures on the capital account. The 
authorities committed to maintain a floating exchange rate and to limit foreign exchange intervention 
during periods of significant market volatility and dysfunction.  
1.14.  In October 2018, the IMF Executive Board completed the first review under Argentina 's 
stand-by arrangement, and approved the disbursement of USD 5.7 billion (SDR 4.1 billion), bringing 
total disbursements since June to about USD 20.4 billion (SDR 14,710 million). The Executive Board 
also approved an augmentation of the stand -by arrangement whi ch increased access to about 
 
5 IMF (2016), IMF Country Report No. 16/346 Argentina: 2016 Article IV Consultation —Press Release; 
Staff Report; and Statement by the Executive Director for Argentina , November 2016. Viewed at: 
https://www.imf.org/external/pubs/ft/scr/2016/cr16346.pdf .  
6 IMF (2017), IMF Country Report No. 17/409 Argentina: 2017 Article IV C onsultation -Press Release; 
Staff Report; and Statement by the Executive Director for Argentina , 29 December 2017. Viewed at: 
https://www.imf.org/en/Publications/CR/Issues/2017/12/29/Argentina -2017-Article -IV-Consultation -Press -
Release -Staff-Report -and-Statement -by-the-45530 .  
7 The factors that, according to the IMF, converged to place pressure  on the Argentine financial markets 
include d: a drought that led to a sharp decline in agricultural production and export revenue, an increase in 
international energy prices, the appreciation of the US dollar, and the upward movement in the interest rates 
of the United States of America. IMF (2018) , Executive Board Approves US$50 Billion Stand -By Arrangement 
for Argentina . Press Release No. 18/ 245, 20 June 2018. Viewed at: 
https://www.imf.org/es/News/Articles/2018/06/20/pr18245 -argentina -imf-executive -board -approves -us50-
billion -stand -by-arrangement .  
8 IMF (2018) , Executive Board Approves US$50 Billion Stand -By Arr angement for Argentina . Press 
Release No. 18/ 245, 20 June 2018. Viewed at: https://www.imf.org/es/News/Articles /2018/06/20/pr18245 -
argentina -imf-executive -board -approves -us50-billion -stand -by-arrangement . WT/TPR/S/412 • Argentina  
 
- 21 - 
 
 USD 56.3 billion (equivalent to SDR 40,710 million or 1 ,277% of the quota). The authorities 
requested that this IMF financing be used as budget support.9 In December 2018, the IMF Executive 
Board completed the second review un der the arrangement, and authorized the disbursement of the 
equivalent of USD 7.6 billion (SDR 5.5 billion), bringing disbursements to about USD 28,090 million 
(SDR 20,210 million).10 In completing the review, the Executive Board also approved the request by 
the authorities for a modification of the performance criterion. The third review was completed in 
April 2019, which enabled the Argentine authorities to draw the equivalent of abo ut USD  10.8 billion 
(SDR 7.8 billion), bringing total disbursements since June 2018 to USD  38.9 billion 
(SDR 28,013.71  million).11 In July 2019, the IMF approved the disbursement of the fourth tranche 
of the loan which amounted to USD 5.4 billion (SDR 3.9 billion), bringing total disbursements to 
USD 44.1 billion (SDR  31.9 billion).12 This was the last disbursement, as the fifth, for USD  5.4 billion, 
which had been scheduled for October 2019, was not made, so 22% of the loan was not disbursed.  
1.15.  Following the  primary elections in August 2019, the situation deteriorated, with an increase 
in inflationary expectations, a drop in the price of Argentine assets, a depreciation of the exchange 
rate, and a rise in inflation. This situation put strong pressure on fisca l accounts, which led to the 
announcement, on 28 August 2019, of an extension of the maturities of the National Treasury 's 
debt.13 The announcement specifically concerned: (a) the extension of the maturities of the 
short-term debt held by legal persons (LE CAP, LETES, LECER and LELINKS Treasury bills), and the 
payment of 15% at maturity, 25% at three months and 60% at six months, with the maintenance 
of the original time -limits for natural persons (b) the presentation in Congress of a draft law to 
promote a voluntary extension of the terms for bonds under domestic legislation; (c) the intention 
to initiate negotiations to extend the maturities of bonds under foreign legislation, without 
interrupting the normal payment of the debt; (d) an attempt to renegotiat e the debt with the IMF, 
in order to extend the maturities of the debt with th at organization.14 
1.16.  In February 2020, an IMF team visited Buenos Aires to learn more about the new 
Government's economic programme. The IMF team observed that Argentina's capacity  to address 
the level and servicing of its public debt had deteriorated significantly in comparison with July 2019. 
The team's general assessment was that Argentina's public debt had become unsustainable after 
increasing by 13 percentage points above the J uly projection, which brought it to 90% of GDP. In 
light of this, it was not feasible to achieve the primary surplus necessary to reduce the gross 
financing needs to levels consistent with manageable rollover risk and satisfactory potential growth. 
The fac tors cited to support this assessment included: the depreciation of the peso by over 40%; 
the increase of sovereign risk by about 1,100 basis points; a decline in international reserves by 
about USD  20 billion; a contraction of real GDP above that previous ly projected; and the recourse 
to the BCRA for the financing of the fiscal deficit. The IMF staff stated that a definitive debt operation, 
 
9 IMF (2018), IMF Executive Board Completes First Review Under Argentina's Stand -By Arrangement, 
Approves US D 5.7 Billion Disbursement . Press Release No. 18/395, 26 October 2018. Viewed at: 
https://www.imf.org/es/News/Articles/2018/10/26/pr18395 -argentina -imf-executive -board -completes -first-
review -under -argentina -stand -arrangement .  
10 IMF (2018), IMF Executive Board Completes Second Review Under Argentina’s Stand -By 
Arrangement, Approves US D 7.6 Billion Disbursement . Press Release No. 18/485, 19 December 2018. Viewed 
at: https://www.imf.org/es/News/Articles/2018/12/1 9/pr18485 -argentina -imf-executive -board -completes -
second -review -under -stand -by-arrangement .  
11 IMF (2019), IMF Executive Board Completes Third Review Under Argentina's Stand -By Arrangement, 
Approves US D 10.8 Billion Disbursement . Press Release No. 19/107, 5 April 2019. Viewed at: 
https://www.imf.org/es/News/Articles/2019/04/05/pr19107 -argentina -imf-executive -board -completes -third-
review -under -argentinas -stand -by-arrangement . 
12 IMF (2019), IMF Executive Board Completes Fourth Review Under Argentina’s Stand -By Arrangement, 
Approves US D 5.4 Billion Disbursement . Press Release No. 19/268, 12 July 2019.  Viewed at: 
https://www.imf.org/es/News/Articles/2019/07/12/pr19268 -argentina -imf-executive -board -completes -fourth -
review -under -sba-approves -disbursement .  
13 Due to financial uncertainty, the National Treasury began to experience difficulties in renewing the 
maturities of its short -term debt in the market. The average renewal fell from 88% of the matur ities of bills in 
pesos and dollars (LECAP, LETES, LECER and LELINKS) at the beginning of August, to levels below 10% after 
the primary elections, with the last auction held on 28 August 28 declared void. BCRA (2019), Informe de 
Política Monetaria. October  2019. Viewed at: 
http://www.bcra.gob.ar/Pdfs/PublicacionesEstadisticas/IPOM1019.pdf .  
14 BCRA (2019), Informe de Política Monetaria  (Monetary Policy Report) . October 2019. Viewed at: 
http://www.bcra.gob.ar/Pdfs/PublicacionesEstadisticas/IPOM1019_i.pdf.   WT/TPR/S/412 • Argentina  
 
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  which would yield a meaningful contribution from private creditors, was required to help restore debt 
sustainability.15 
1.17.  The new administration that took office in December 2019 implemented measures to address 
the emergency economic situation faced by the country at the time. The majority of these changes 
are contained in the Law on social solidarity and reinvigorating pr oduction (Box 1.2). These measures 
included: (a) the removal of the ceiling in US dollars established for export duties and an increase 
in rates; (b) the payment of bonuses for retirees and the suspension for 180 days of the pension 
adjustment system in pl ace since March 2018; (c) the replacement of the zero tax rate for staple 
foods by a selective refund; (d) an increase in the universal child allowance (AUH); (e) the creation 
of the PAIS tax ( "tax for an inclusive and supportive Argentina ") for a period o f up to five years, 
which consists of a 30% surcharge on purchases of foreign currency, including travellers ' cheques 
and travel expenses abroad; (f) the maintenance of the maximum dollar purchase limit of 
USD 200 per month for natural persons; (g) the fre ezing of electricity and natural gas rates under 
national jurisdiction for 180 days and the intervention of the regulatory bodies; (h) the freezing of 
urban transport rates; (i) the reduction by 8% of the price of medicines and the freezing of these 
prices  until 31 January 2020; (j) the implementation of the "food card " for beneficiaries of the 
allowancewith  children under six years old; (k) a wage increase of ARS 4,000 for private sector 
workers; (l) an increase in tax rates paid on motor vehicles, motorcy cles and boats, and the 
adjustment of the amounts subject to the different tax rates; (m) the application of rates of 0.5% 
to 1.25% for assets located abroad; (n) the establishment of a plan for the settlement of overdue 
tax debts for SMEs; (o) changes to the employer contributions system; (p) an increase in the tax on 
cash withdrawals from financial institutions for large enterprises; (q) three consecutive reductions 
of the monetary policy benchmark rate, which stood at 52%; and (r) the inclusion of 310 pr oducts 
on the list of preserved prices16 and the reintroduction of the leading brands of food, cleaning and 
perfumery products which serve as reference prices.  
1.18.  The new Government decided not to request the remaining USD 11 billion from the IMF 
stand -by credit , and instead opted to restructure the debt. The Economic Emergency Law authorized 
the Treasury to take up to USD 4,571 million in BCRA reserves to address maturities in US dollars. 
In May 2020, Argentina entered into default with some of its credito rs. In September 2020, Argentina 
overcame this situation by restructuring USD 66,185 million in debt with private creditors under 
foreign legislation and, days later, a further USD 41,715 million in bonds under domestic legislation, 
which involved a discou nted debt swap (see below). Following the debt swap, Argentina engaged in 
discussions with the IMF to replace the stand -by arrangement signed in 2018, from which it received 
USD 44 billion.  
1.19.  The Argentine economy was heavily impacted by the COVID -19 pandemi c, which led the 
Government to impose a lockdown  from 20 March 2020, a measure which was later relaxed and 
adapted according to the region or province. The resulting decrease in activity contributed to a 
contraction of the Argentine economy by 9.9% in 2020 . The contraction was greater (around 12.7%) 
in the first seven months of 2020 in comparison with the same period in the previous year, and 
some improvement was recorded in the last months of the year. The sectors most affected were: 
hotels and restaurants ; community, social and personal services; fisheries; construction; and real 
estate. However, most other sectors were also impacted, with the exception of electricity, gas and 
water services, and financial intermediation. To address the pandemic and avoid a further 
contraction of GDP, Argentina implemented a series of additional economic measures including the 
deferral of export duty payments for SMEs and support for the production of medical equipment 
(see Box 1.1).  
 
15 Information from the IMF. Viewed at: https://www.imf.org/es/News/Articles/2020/02/19/pr2057 -
argentina -imf-staff-statement -on-argentina , and 
https://www.imf.org/en/Publications/CR/Issues/2020/03/20/Argentina -Technical -Assistance -Report -Staff-
Technical -Note-on-Public -Debt-Sustainability -49284 .  
16 Preserved prices are the reference prices of the most representative products in the mass 
consumption food basket resulting from a voluntary agreement between the State, manufacturers, distributors, 
supermarkets and wholesalers.  WT/TPR/S/412 • Argentina  
 
- 23 - 
 
 Box 1. 1 Measu res adopted by Argentina to address the COVID -19 pandemic  
Federal Public Revenue Administration (AFIP) General Resolution No. 4728/2020 (Official Journal 
of 1 June 2020). AFIP General Resolution No. 4787/2020 (Official  Journal of 6 August 2020)  
Deferral of  export duty payments until 30 September 2020 for enterprises entered  in the register of micro, 
small and medium -sized enterprises (Law No. 24.467). Deferrals can be requested through the submission 
of a sworn export declaration ( Declaración jurada del exp ortador ), in accordance with Section II of Annex II 
of General Resolution No. 3.885 and amendments thereto.  
 
Decree No. 745/2020 of 13 September 2020 and Decree No. 333/2020 of 1 April 2020  
Establishment of a zero tariff for the following MERCOSUR Common Nomenclature ( NCM) subheadings:  
Ethyl alcohol: 2207.10.10, 2207.10.90 and 2207.20.19; 2843.10.00 Colloidal gold, of a kind used for the 
manufacture of COVID -19 test strips; 2905.12.10 Propyl alcohol; 2905.12.20 Isopropyl alcohol; 2925.29.29 
Guanidin ium chloride; 2925.29.29 Guanidinium thiocyanate; 2934.99.34 Nucleic acids and their salts; 
3002.12.29 Immunoglobulins, of a kind used for the manufacture of COVID -19 test kits; 3002.13.00 and 
3002.14.90 Immunological products used for the manufacture of C OVID -19 test kits; 3808.94.19 Surface 
disinfectant for medical equipment and floors; 3808.94.29 Alcohol -based gel; 3822.00.90 COVID -19 
diagnostic reagents; 3919.10.10, 3919.90.20 and 3921.90.19 Self -adhesive plates, film, sheets, foil and 
strip for the man ufacture of COVID -19 test strips; 3926.20.00 Gloves for medical use; 3926.90.40 
Laboratory or pharmacy items; 4015.11.00 Surgical gloves; 4015.19.00 Gloves for medical use; 6210.10.00 
Of a kind used in surgery and medicine; 6307.90.10 Masks of a kind used by surgeons; 6505.00.22 and 
6505.00.90 Disposable hair nets; 7019.90.90 Fibreglass -based sheets for the manufacture of COVID -19 test 
strips; 8413.19.00 and 8413.60.19 Extracorporeal circulation pumps; 8421.39.30 Oxygen concentrators; 
9004.90.20 Safety gogg les; 9004.90.90 Safety visors; 9018.11.00 Electro -cardiographs, parts and 
accessories; 9018.12.10 Doppler ultrasound scanners; 9018.12.90 Ultrasound scanners; 9018.13.00 
Magnetic resonance imaging apparatus, parts and accessories; 9018.14.10 Positron Emiss ion Tomography 
(PET) scanners; 9018.14.20 Gamma chambers; 9018.14.90 Scintigraphic apparatus, parts and accessories 
thereof; 9018.19.10 Endoscopy apparatus; 9018.19.20 Audiometers; 9018.19.80 Pulse oximeters; 
9018.19.90 Parts of electrodiagnostic apparatus ; 9018.31.11, 9018.31.19 and 9018.31.90 Syringes; 
9018.32.12 and 9018.32.19 Tubular needles; 9018.39.10 Needles for human medicine; 9018.39.21 Sounds, 
catheters and cannulae, of rubber; 9018.39.22, 9018.39.23, 9018.39.24 and 9018.39.29 Catheters and 
sounds ; 9018.39.30 Lancets for vaccination and cauterising; 9018.39.91 Articles for arteriovenous fistula; 
9018.39.99 Other instruments; 9018.90.10 Instruments or apparatus for blood transfusions; 9018.90.92 
Apparatus for measuring arterial pressure; 9018.90.94 Endoscopy apparatus, parts and accessories thereof; 
9018.90.96 Automatic External Defibrillators (AED); 9018.90.99 Infusion pumps; 9018.90.99 
Laryngoscopes; 9019.20.10 Oxygen therapy apparatus, parts and accessories; 9019.20.20 Aerosol therapy 
apparatus; 9 019.20.30 Artificial respiration apparatus; 9019.20.40 Appliances known as "iron lungs "; 
9019.20.90 Other apparatus and parts thereof; 9020.00.10 Gas masks; 9020.00.90 Breathing appliances; 
9021.90.11 Automatic cardiac defibrillators; 9021.90.19 Cardiovert er defibrillators; 9021.90.89 Portable 
insulin infusion pumps; 9025.11.10, 9025.19.90; 9025.19.90 Clinical thermometers; 9402.90.20 Hospital 
beds with mechanical fittings; 9403.20.00, 9403.60.00 and 9403.70.00 Over -bed tables and bedside tables 
for hospita l patients.  
 
Decree No. 549/2020 (Official Journal of 23 June 2020)  
Exemption for 60 days from the payment of export duties applicable to exports of whole hides and skins, 
including in the following NCM subheadings: 4101.20.00; (4101.50.10); (4101.50.20); (4101.50.30); 
(4101.90.10); (4101.90.20); (4102.10.00); and (4103.90 .00). 
 
Ministry of Producti ve Development.  https://www.argentina.gob.ar/sites/default/files/fondep_ -
_bases_y_condiciones_.pdf . 
Programme to support the natio nal production system in the area of medical equipment, medical and health 
inputs, and technological solutions in the context of the COVID -19 pandemic.  
Source:  Argentine Government.  
1.2.2   Performance of the main components of GDP and employment  
1.20.  Aggregate domest ic demand experienced a sharp contraction in real terms between 2012 and 
2020, which was equivalent to an average annual decrease of 1.8%. The GDP contraction was 1.5% 
on average during the review period. These data were influenced by the steep fall in GDP  in 2020, 
but even excluding this, real GDP experienced an average annual contraction of 0.3% during the 
review period, while domestic demand shrank at an average annual rate of 0.6%. The contraction 
would have been greater if domestic demand had not been sustained by public consumption, which 
grew at an average annual rate of 1.4% in real terms between 2012 and 2020 (2.3% if 2020 is 
excluded). Private consumption fell at an average annual rate of 1.7%, influenced mainly by the 
strong contraction in 2020. I f this contraction is not taken into account, private consumption evolved 
at an average annual rate of -0.25% in real terms between 2012 and 2019 (Table 1.1). Although 
investment fluctuated, it demonstrated a fall in real terms of 33% between 2012 and 2020 , which WT/TPR/S/412 • Argentina  
 
- 24 - 
 
  was equivalent to an average annual contraction of 4.3%. The contraction of private investment 
exceeded that of GDP and, consequently, the rate of private investment as a percentage of GDP 
measured in constant prices declined from 20.3% of GDP in 2 012 to 16.6% in 2020. The authorities 
observed that it is difficult to talk about averages during the review period, as there were various 
macroeconomic developments, as well as changes of government. They stated, for example, that 
the economy had stagnate d in the period between 2012 and 2017, during which the average annual 
growth rate was 0.4%, and in which years of growth had been interspersed with years of downturn. 
They observed that from 2018 onwards, a process of economic recession had begun, which 
intensified owing  to the pandemic in 2020.  
1.21.  Exports of goods and services grew at an average annual rate of 0.1% between 
2012 and 2019. The crisis created by the global pandemic caused a downturn in 2020, resulting in 
a real annual decline in exports of -2.1%  for the period 2012 -20. Goods and services imports 
contracted more rapidly than the corresponding exports , at an average annual rate of 3.7% 
between  2012 and 2020. After moderate growth in 2013, imports experienced a steep drop of 
around 1 1.5% in 2014, but recovered in 2015, 2016 and 2017, growing by 15.6% in the latter year. 
However, when the country entered a period of economic downturn in 2018, imports declined, which 
was further accentuated in 2019 and 2020. In the latter year, the nega tive effects of the interruption 
of economic activity caused by the COVID -19 pandemic were strongly felt. Although in some years 
during the 2012 -17 period  net exports contributed negatively to GDP growth, their contribution 
throughout the review period (20 12-20) was positive.  
1.22.  Rates of activity and employment remained relatively constant during most of the review 
period, and in 2019, stood at 47.2% and 43% respectively. However, due to workforce growth in a 
context of relative economic stagnation, the unempl oyment rate increased between 2012 and 2019 
from 6.9% to 8.9% of the economically active population.17 In the first half of 2020, due to the 
negative effects on economic activity of the health measures adopted to address the COVID -19 
pandemic, which restri cted activity and movement, the rate of unemployment further increased and 
the rates of activity and employment fell significantly. In the second quarter of 2020, the rate of 
activity stood at 38.4%, employment at 33.4% and unemployment at 13.1%.18 The imp act of the 
pandemic on the employment rate was not consistent among the different occupational categories, 
and was greater on employees without a pension discount, workers in private establishments and 
self-employed workers.19 As from the third quarter of 2020, there was an improvement in the 
employment situation and the year ended with an average activity rate of 45.0%, an employment 
rate of 40.1% and an unemployment rate of 11%.  
1.23.  The weak economic growth recorded between 2013 and 2020 and the devaluation o f the 
Argentine peso against the dollar resulted in a stagnation and the subsequent fall in GDP per capita, 
which declined from USD 13,932 in 2012 to USD 8,442 in 2020, peaking at USD 14,952 in 2015 and 
USD 14,613 in 2017. In particular, the sharp deprecia tion of the Argentine peso in 2019 and 2020 
contributed to a major contraction of GDP per capita in US dollar terms. Gross per capita national 
income, as measured by the World Bank (Atlas method), decreased from USD 12,840 in 2013 to 
USD 11,130 in 2019 (la test available data). The percentage of the urban population living below the 
poverty line increased from 25.7% in 2017 to 35.5% in 2019.20 
1.2.3   Fiscal policy  
1.24.  The Ministry of the Economy and Public Finance (MEFP), through its Secretariat for Finance, 
is the pub lic body responsible for formulating and implementing fiscal policy in Argentina. The review  
 
17 The authorities observed that the data from the period 2012 -19 were influenced by technical and 
economic factors affecting the labour market. Firstly, the statistical review conducted during the review period 
resulted in an increase of the unemployment r ate by two percentage points. Secondly, as from 2018, real 
wages fell significantly, which may explain the increase in the workforce and in unemployment. A decline in 
registered employment was also recorded.  
18 INDEC (2020), Mercado de trabajo. Tasas e ind icadores socioeconómicos (EPH). Segundo trimestre de 
2020. Viewed at: 
https://www.indec.gob.ar/uploads/informesdeprensa/mercado_trabajo_eph_2trim209 29E519161.pdf .  
19 The number of persons engaged in teleworking increased significantly from 6.5% of employees in the 
first quarter of 2020 to 22.0% in the second quarter. INDEC (2020), Mercado de trabajo. Tasas e indicadores 
socioeconómicos (EPH). Segundo trimestre de 2020 . Viewed at: 
https://www.indec.gob.ar/uploads/informesdeprensa/mercado_trabajo_eph_2trim20929E519161.pdf . 
20 World Bank (2021). View ed at: https://data.worldbank.org/country/argentina?view=chart .  WT/TPR/S/412 • Argentina  
 
- 25 - 
 
 period was marked by growing fiscal deficits caused primarily by a lower share of revenue in GDP, 
that is, a drop in tax collection in real terms. Despite the high  number of taxes in force, Argentina 
has a relatively low level of fiscal revenue, particularly tax revenue, in relation to GDP. One of the 
objectives of fiscal policy has been, and continues to be, the improvement of tax collection, which 
could benefit from a simplification of the tax system and a tax reform that would go beyond the 
provisions of the Tax Reform Law of 2017 and Law No. 27.541 of 21 December 2019 on social 
solidarity and reinvigorating production in the context of the public emergency (see b elow).  
1.25.  Argentina recorded a primary deficit during each year of the period under r eview. This deficit 
fluctuated between 0.2% and 4.2% of GDP and increased during the period 2012 -16, before 
declining between 2017 and 2019 as the result of the adjustment po licies implemented. In 2020, 
the primary deficit increased again to 6.5% of GDP, mainly as a result of the measures adopted to 
address the COVID -19 pandemic and lower tax collection caused by the reduction in economic 
activity. In addition to the deficit o f 8.5% of GDP recorded in 2020, the deficit of the national financial 
balance increased between 2013 (1.9% of GDP) and 2017 (5.9% of GDP), and then declined to 5% 
and 3.8% of GDP in 2018 and 2019, respectively (Table 1.2.).  
Table 1. 2 Non-financial public sector (NFPS)  finances, 2012 -20 
(% of GDP)   
2012  2013  2014  2015  2016  2017  2018  2019a 2020b 
1 Current revenue  20.9 21.4 22.3 20.2 19.8 18.7 17.8 17.8 17.6 
1.1 Tax revenue  12.5 12.1 12.3 11.9 11.9 10.5 9.7 10.3 10.6 
1.2 Social security contributions  6.6 6.9 6.6 7.0 6.8 6.8 6.2 5.7 5.7 
1.3 Non-tax revenue  0.5 0.5 0.7 0.7 0.5 0.6 0.5 0.6 0.5 
1.4 Government sales of goods 
and services  0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 
1.5 Operating revenue  0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
1.6 Property income  1.1 1.8 2.6 0.4 0.3 0.7 1.2 1.0 0.6 
1.7 Current transfers  0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.1 0.1 
1.8 Other revenue  0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 
2 Current expenditure  20.6 20.7 21.9 22.6 23.4 22.7 21.4 21.1 25.4 
2.1 Consumption and operating 
expenditure  4.0 4.1 4.2 4.5 4.2 4.1 3.7 3.3 3.4 
2.1.1 Wages  3.0 3.0 3.1 3.3 3.2 3.1 2.8 2.5 2.6 
2.1.2 Goods and services  0.9 1.1 1.1 1.2 1.0 1.0 0.9 0.8 0.8 
2.2 Interest and other property 
income  1.9 1.3 1.6 1.3 1.6 2.1 2.7 3.4 2.0 
2.3 Social security benefits  7.8 8.1 7.9 9.0 8.9 9.6 8.9 8.7 9.7 
2.4 Other current expenditure  0.8 0.9 1.0 0.6 0.2 0.0 0.1 0.1 0.0 
2.5 Current transfers  5.9 5.9 6.6 6.7 7.9 6.4 5.6 5.2 9.7 
2.5.1 To the private sector  4.5 4.6 5.4 5.4 6.1 4.8 4.3 3.9 7.5 
2.5.2 To the public sector  1.3 1.3 1.2 1.3 1.7 1.6 1.3 1.3 2.2 
2.5.3 To the external sector  0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
2.6 Other expenditure  0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
2.7 Operating result of public 
enterprises  0.2 0.3 0.6 0.4 0.5 0.4 0.5 0.4 0.5 
3 Economic result: 
saving/dissaving  0.2 0.8 0.5 -2.4 -3.6 -4.0 -3.6 -3.3 -7.8 
4 Capital resources  0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.6 0.4 
5 Capital expenditure  2.3 2.7 2.9 2.7 2.2 2.0 1.4 1.1 1.0 
5.1 Real direct investment  1.1 1.2 1.2 1.1 1.0 0.9 0.6 0.6 0.5 
5.2 Capital transfers  1.2 1.3 1.4 1.4 1.0 0.9 0.7 0.4 0.5 
5.3 Financial investment  0.0 0.2 0.3 0.2 0.2 0.1 0.1 0.1 0.0 
6 Revenue, excluding 
figurative  20.9 21.4 22.3 20.2 19.8 18.7 17.9 18.4 17.9 
6.1 Primary revenue, excluding 
figurative  19.8 19.7 19.7 19.8 19.5 18.1 16.7 17.3 17.3 
7 Expenditure, excluding 
figurative  23.0 23.4 24.7 25.3 25.6 24.6 22.9 22.2 26.4 
7.1 Primary expenditure, 
excluding figurative  21.0 22.1 23.2 24.0 24.0 22.5 20.2 18.8 24.4 
8 Financial result, excluding 
figurative  -2.1 -1.9 -2.4 -5.1 -5.8 -5.9 -5.0 -3.8 -8.5 
8.1 Primary result without 
income  -1.3 -2.4 -3.5 -4.1 -4.5 -4.5 -3.5 -1.5 -7.1 
9 Figurative contributions  6.4 6.6 7.2 7.0 7.6 7.2 6.0 5.8 9.8 
9.1 Of the National Treasury  4.7 4.9 5.5 5.2 5.9 5.4 4.5 4.3 8.1 
9.2 Other  1.7 1.7 1.7 1.8 1.7 1.8 1.5 1.5 1.7 
10 Figurative expenditure  6.4 6.6 7.2 7.0 7.6 7.2 6.0 5.8 9.8 
11 Revenue, including 
figurative  27.2 28.1 29.6 27.2 27.4 25.9 23.8 24.1 27.7 
11.1 Primary revenue, including 
figurative  26.1 26.3 26.9 26.9 27.1 25.3 22.6 23.1 27.1 WT/TPR/S/412 • Argentina  
 
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2012  2013  2014  2015  2016  2017  2018  2019a 2020b 
12 Expenditure, including 
figurative  29.3 30.0 32.0 32.3 33.2 31.8 28.9 28.0 36.2 
13 Primary expenditure, 
including figurative  27.4 28.7 30.4 31.0 31.6 29.7 26.2 24.6 34.2 
14 Primary surplus  -0.2 -0.7 -0.8 -3.8 -4.2 -3.8 -2.3 -0.4 -6.5 
15 Financial result  -2.1 -1.9 -2.4 -5.1 -5.8 -5.9 -5.0 -3.8 -8.5 
16 Financial sources  15.0 16.1 18.2 19.8 23.1 27.7 36.7 30.6 21.1 
16.1 Decline in financial 
investment  5.7 5.3 3.9 5.9 5.4 7.1 13.7 10.7 3.8 
16.2 Public debt and increase in 
other liabilities  9.2 10.7 14.2 13.8 17.6 20.4 22.9 19.7 17.1 
16.2.1  Debt in local currency  7.5 7.6 9.6 9.4 10.4 10.6 10.5 10.4 13.0 
16.2.2  Debt in foreign currency  1.2 2.5 3.6 3.9 6.2 9.1 11.6 8.2 3.0 
16.2.3  Increase in other liabilities  0.4 0.5 0.9 0.5 1.0 0.7 0.7 1.1 1.1 
16.3 Increase in equity  0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.0 
16.4 Figurative contributions for 
financial applications  0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.1 0.2 
17 Financial applications  12.9 14.2 15.8 16.0 18.7 22.3 31.7 27.7 18.6 
17.1 Financial investment  5.7 6.4 5.7 6.5 8.0 7.7 16.9 10.4 5.7 
17.2 Debt amortization and 
reduction of other liabilities  7.1 7.7 10.1 9.4 10.5 14.5 14.6 17.2 12.5 
17.3 Decrease in equity  0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 
17.4 Figurative expenditure for 
financial applications  0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.1 0.2 
Memorandum  
Central government gross debt (USD 
million)  216,92
0 223,439  239,326  240,665  275,446  320,935  332,192  323,065  335,582  
Central government gross debt (% 
of GDP)  40.4 43.5 44.7 52.6 53.1 56.5 86.4 90.2 104.5  
Central government gross debt (% 
of GDP, Secretariat calculations)  37.3 36.4 42.2 37.3 49.4 49.9 64.2 72.5 87.6 
a Provisional data . 
b Preliminary data . 
Note:  Figurative contributions (expenditure or revenue) are resources which are received by a public 
organization or entity belonging to the national government , and which come from another public 
organization or entity. They involve movements of funds for which there is no consideration, return 
or cost. As figurative transactions are undertaken between State entities, an inflow for one is an 
outflow for another or others.  
Source:  Ministry of the Economy . 
1.26.  As a reflection of the  slowdown in economic activity, during the review period, the current 
revenue of the non -financial public sector  as a percentage of GDP decreased from 20.9% of GDP in 
2012 to the equivalent of 17.6% of GDP in 2020. This situation deteriorated considerably in 2020 
due to the negative effects of the COVID -19 pandemic on economic activity. The GDP share of the 
tax revenue of the non-financial public sector  declined from 12.5% in 2 012 to 10.6% in 2020. The 
share of social security contributions also decreased from 6.6% of GDP in 2012 to 5.7% in 2020.   
1.27.  Among the different taxes, the share of VAT represented 30% of tax collection  in 2020, profits 
tax accounted for 20.3%, taxes on fore ign trade 8.1%, tax on bank debits and credits represented 
6.3%, the tax on personal property accounted for 2.3%,  fuel tax 2.7%,  excise duties 2.3%, and the 
PAIS tax represented 1.9%. Among the different taxes on foreign trade, export duties represented 
5.4% of tax collection, import duties 2.3% and the statistical fee 0.5%.  Customs revenue accounted 
for 8.9% of tax revenue. The VAT collected by the Directorate -General of Customs on imports 
represented 9.1% of tax collection  in 2020.21 
1.28.  The general budget of  the national  administration for 2021 projects a primary deficit of 4.2% 
of GDP for the non -financial public sector. It estimates a total current revenue equivalent to 17.9% 
of GDP and forecasts a GDP share of 11.3% for tax revenue. The total current expen diture approved 
for the non -financial public sector by the Law on the budget of the national government for 2021 
(Law No. 27.591, Official Journal of 14 December 2020), accounts for 21.5% of GDP.22 
 
21 WTO Secretariat calculations, based on information provided by AFIP . Viewed at: 
https://www.afip.gob.ar/institucional/estudios/comparativo -mensual -y-acumulado/2020.asp .  
22 Ministry of the Economy (2020), Mensaje de remisión del Presupuesto 2021 . Viewed at: 
https://www.economia.gob.ar/onp/documentos/presutexto/proy2021/mensaje/mensaje2021.pdf .  WT/TPR/S/412 • Argentina  
 
- 27 - 
 
 1.29.  The Argentine authorities maintain, under tax expenditure,  the accounting of revenue forgone 
as a result of tax concessions for specific activities, zones, taxpayers or consumption.23 During the 
review period, the GDP share of tax expenditure followed an upward trend until 2016 when it reached 
a maximum of 3.3% o f GDP before starting on a downward trend which has intensified since 2018 
with the entry of the economy into a new period of recession. In 2020, tax expenditure accounted 
for 2.6% of GDP. Half of such expenditure corresponded to  VAT exemptions, 23%  to exe mptions 
from profits tax and the rest mainly to exemptions from social security contributions and fuel tax 
(Table 1.3). Tax expenditure related to exemptions from profits tax has decreased substantially in 
recent years with respect to the peak observed in 2016 (0.81% of GDP).  
Table 1. 3 Tax expenditure in the Argentine Republic 2012 -20 
(% of GDP)  
Tax 2012  2013  2014  2015  2016  2017  2018  2019  2020  
Total  3.0 3.0 3.1 3.2 3.3 3.2 2.8 2.8 2.6 
 - Under tax regulations  2.3 2.4 2.4 2.5 2.7 2.6 2.1 2.1 2.0 
 - Under economic promotion regimes  0.6 0.7 0.6 0.7 0.6 0.6 0.7 0.7 0.6 
Value Added  1.4 1.4 1.3 1.4 1.3 1.3 1.3 1.4 1.3 
 - Under tax regulations  1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.2 1.2 
 - Under economic promotion regimes  0.2 0.3 0.2 0.3 0.2 0.2 0.2 0.2 0.1 
Profits  0.6 0.6 0.6 0.7 0.8 0.7 0.6 0.6 0.6 
 - Under tax regulations  0.5 0.5 0.5 0.6 0.7 0.6 0.3 0.2 0.2 
 - Under economic promotion regimes  0.1 0.1 0.1 0.2 0.1 0.2 0.3 0.3 0.3 
Social Security Contributions  0.3 0.3 0.3 0.3 0.3 0.4 0.3 0.3 0.2 
 - Under tax regulations  0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.2 
 - Under economic promotion regimes  0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
Fuel 0.5 0.5 0.6 0.5 0.6 0.5 0.4 0.4 0.4 
 - Under tax regulations  0.5 0.5 0.5 0.5 0.5 0.5 0.4 0.4 0.3 
 - Under economic promotion regimes  0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 
Excise Duties  0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 
 - Under tax regulations  0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
 - Under economic promotion regimes  0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 
Foreign Trade  0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 
 - Under economic promotion regimes  0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 
Personal Property  0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.0 0.0 
 - Under tax regulations  0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.0 0.0 
Miscellaneous Taxes  0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
 - Under economic promotion regimes  0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
Source:  Ministry of the Economy, Secretariat for Finance  
1.30.  Tax Reform Law No. 27.430, Official Journal  of 29 December 2017, introduced amendments 
to various taxes. The Law laid down new rates for profits tax, establishing a rate of 30% for corporate 
enterprises and permanent establishments for the financial years 2018  and 2019, which may be 
reduced to 25% in subsequent financial years. The Law also provided that the dividends distributed 
would be subject to this tax, with a rate of 7% for 2018 and 2019 and 13% for subsequent periods. 
It also established a tax of 15% ap plicable to the profits made from the sale of real estate by natural 
persons, which replaced the property transfer tax, for real estate disposed of and acquired as from 
1 January 2018. The Law extended the coverage of the tax to second -category income, in order to 
include digital currencies, transfer of rights on trusts and similar contracts, and established a 
schedular tax on capital gains at a rate of 5% for placements without an adjustment clause, 15% 
for placements with an adjustment clause or made in f oreign currency. It also provided for the 
payment of VAT for digital services, and the gradual unification of employer contribution rates, which 
were set at 19.5%. It incorporated a tax on carbon dioxide emissions into the fuel tax. Regarding 
excise duties , the tax on the amount invoiced for the provision of cellular or satellite telephone 
services was increased, and the levy rates were amended for alcoholic beverages (26% for whisky, 
cognac, brandy, gin (ginebra/gin ), pisco, tequila, vodka, rum and beverag es of an alcoholic strength 
of 30% or more; and 20% for beverages of an alcoholic strength of between 10% and 29% and 
fractions thereof). The Law  amended the tax rates applicable to motor vehicles, camping vehicles, 
motorcycles and vessels for pleasure or sports, which were fixed at 20% for sales exceeding 
ARS 400,000 (updated yearly) and 0% for sales below this amount. In addition to the above, the 
 
23 In Argentina, tax expenditure includes incentives that cause def initive losses in tax collection, but 
does not include the defer ral of tax payments, accelerated amortization  of profits tax, or advance 
reimbursement of tax credits in VAT, as the loss in tax collection in the years in which these benefits are 
enjoyed is offset by higher tax payments in later years.  WT/TPR/S/412 • Argentina  
 
- 28 - 
 
  Tax Reform Law established a tax of 10.5% for sales of air conditioners, telephones, refrigerators, 
monitors,  recording and broadcasting equipment, until 31 December 2023.24 
1.31.  The Law on social solidarity and reinvigorating production in the context of the public 
emergency, Law No. 27.541 of 21 December 2019, Official Journal of 23 December 2019, introduced 
subsequ ent amendments regarding the tax system and the implementation of fiscal policy in general 
(Box 1.2).  The Law declared a state of public emergency in the economic, financial, fiscal, 
administrative, social security, tariff, energy, health and social sphere s, and empowered the 
National  Executive, until 31 December 2020, to: (a) create conditions to ensure the sustainability of 
public debt; (b) restructure energy system rates; (c) settle the tax, customs and social security 
debts of MSMEs; (d) create conditio ns to achieve fiscal sustainability; (e) unify and strengthen the 
social security system; (f) ensure the supply of essential medicines to patients in conditions of high 
social vulnerability; and (g) promote wage recovery by targeting the most vulnerable se ctors. The 
key points of the programme include: the creation of a tax of 30% on payments abroad (PAIS tax); 
an increase of the statistical fee on imports from 1% to 3%; an increase of export duties up to a 
maximum of 33% (for soya beans); the temporary sus pension of the reduction of the rate for 
corporate enterprises from 30% to 25% and the increase of the dividend tax (from 7% to 13%); 
the doubling of the tax rate on credits and debits in bank accounts and other transactions; and the 
amendment of excise du ties on,  inter alia , vehicles.  
Box 1. 2 Main points of the Law on social solidarity and reinvigorating p roducti on in the 
context of the p ublic emergency  
The main points of the Law on social solidarity and reinvigorating production  in the context of the public 
emergency , Law No. 27.541 of 21 December 2019, published on 23 December 2019, include the following:  
1. Sustainability of public debt.  The Executive was granted the power to make the arrangements and take 
the actions necessary to ensure the sustainability of public debt.  
2. Energy system.  Electricity and natural gas rates were maintained under federal jurisdiction and the 
national gove rnment was authorized to initiate a renegotiation of the current comprehensive tariff review or 
a review to reduce the real tariff burden on households, businesses and industries. The provinces were invited 
to comply with these policies. The Executive was granted the power to intervene on an administrative level in 
the National Electricity Regulatory Authority (ENRE) and the National Gas Regulatory Authority (ENARGAS) 
for a period of one year (Section 4).  
3. Remission and rescheduling of tax, social secur ity and customs obligations.  A special scheme was 
established to regularize the obligations due up to and including 31 July 2020 and also related violations, by 
MSMEs, non -profit entities, small taxpayers, and natural persons repatriating at least 30% of t heir financial 
assets abroad within 60 days of enrolling in the scheme. For small taxpayers, a tax exemption of between 
two and six consecutive monthly instalments was established, with a limit of ARS 17,500. For MSMEs, 
additional exemptions were permitted , up to 31 December 2021, of two and three annual instalments for 
investments in domestic and imported goods, and of an amount of annual instalments equivalent to 50% of 
the useful life of the investment in infrastructure works. The amount of compensatory interest on customs 
fines and duties was limited to 10% of the capital due for 2018, 2019 and up to 31 July 2020, 25% for 2016 
and 2017, 50% for 2014 and 2015, and 75% for the 2013 fiscal period and previous fiscal periods. 
Non-forgiven debt may be paid in  one instalment with a reduction of 15% or progressively over a period of 
between 48 and 120 months. Decree No. 966/2020, Official Journal of 1 December 2020 extended  up to and 
including  15 December 2020 the time -limit established for applying to the regularization scheme.  
4. Refunds for vulnerable sectors.  The Federal Public Revenue Administration (AFIP) was granted the 
authority to establish a refund scheme for final consumers and the provision of incentives for small taxpayers 
selling goods on a regular  basis, providing services, performing works or leasing movable goods, which aimed 
to encourage formalization and tax compliance. Both the refunds and stimul i are intended to prioritize the 
most vulnerable sectors of society and promote financial inclusion .  
5. Social security. Employer contributions.  Two rates of 20.4% and 18% were maintained indefinitely for 
employer contributions on payroll, for social security purposes. A scheme to converge gradually to a single 
rate of 19.5% as from 1 January 2022, wh ich was established by Law No. 27.430 of 29 December 2017, was 
eliminated. A monthly deduction for each worker was authorized. Employers in the textiles, clothing, footwear 
and leather goods sectors, the primary agricultural and industrial sector, and the health sector, and public 
service concession holders of which at least 80% of the equity belongs to the State, may double this deduction.  
7. Personal property and schedular tax.  As from the financial year 2019, the personal property tax was 
amended, and t he National Executive was granted the power, until 31 December 2020, to set differential rates 
up to 100% higher than the maximum rate set forth in Law No. 23.699 and the amendments thereto (the 
 
24 Law No. 27.430, Official Journal of 29 December 2017. Viewed at: 
http://servicios.infoleg.gob.ar/infoleg Internet/anexos/305000 -309999/305262/texact.htm .  WT/TPR/S/412 • Argentina  
 
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 maximum rate, which is applied to assets over ARS 18 million,  is ARS 156,250 +1,25%), in order to tax assets 
located abroad, and to reduce the rate for financial assets in the event of their repatriation, and set a rate of 
0.50% on the value determined. As from the fiscal period 2020, an exemption from profits tax w as established 
for the interest earned on fixed -term deposits in domestic currency in saving accounts and special savings 
accounts, and third -party deposits and other forms of raising funds from the public.  
8. "Tax for an inclusive and supportive Argentin a" (PAIS tax) For five fiscal periods, a tax of 30%  was 
established on:  
(a) Purchases of banknotes and foreign currency, as well as travellers ' cheques, made by residents.  
(b) The exchange of foreign currency carried out by financial entities intended for the purchase of goods or 
services or the leasing of services abroad, which are paid for using credit, purchasing or debit cards. This 
includes purchases made through web portals or websites.  
(c) The exchange of foreign currency carried out by financial entities intended for the purchase, by residents 
in the country, of services provided by non -residents, which are paid for using credit, purchasing or debit 
cards, or any other equivalent means of payment.  
(d) The acquisition of services abroad c ontracted through travel and tourism agencies.  
(e) The acquisition of land, air and water transport services by passengers bound for destinations outside the 
country, with the exception of acquisitions made by the State, the provincial states, the Autonomo us City 
of Buenos Aires (CABA) or the municipalities. The tax does not apply to: expenses for health care services ; 
the purchase of medicines and books ; the use of educational platforms and software for educational purposes; 
or expenses associated with res earch projects carried out by researchers in state bodies and universities.  
(f) The purchase abroad of equipment and other goods intended for civil protection.  
A total of 70%  of the tax proceeds is used to finance the programmes of the National Social Secu rity 
Administration (ANSES) and the services provided by the National Institute of Social Services for Retirees and 
Pensioners (INSSJP), and 30% is allocated for social housing, infrastructure and national tourism development 
works.  
9. Tax on credits and debits in bank accounts and other transactions.  The prevailing rate for cash 
withdrawals was doubled, with the exception of accounts held by natural persons or MSMEs.  
10. Profits tax.  The 20% deduction on the tax base stipulated in Article 1 of Decree No. 561 of 
14 August  2019 was validated for dependent workers, public employees and pensions. As from 2020, the 
schedular tax on individual income and undivided estates derived from interest on securities and fixed -term 
deposits, was repealed and  replaced by the progressive profits tax. The reduction of the rate for corporate 
enterprises from 30% to 25%, and the increase of the dividend tax (from 7% to 13%), which were both 
provided for by Law No. 27.430, were suspended  until 31 December 2020 . 
11. Statistical fee.  The statistical fee rate was increased from 1% to 3% until 31 December 2020. The rate 
applies to outright imports for consumption, with the exception of destinations registered under preferential 
agreements. Decree No. 1.057/20 of 30 Dec ember 2020 extended the rate of 3% until 31 December 2021. 
12. Excise duties.  Taxes on goods such as vehicles and motor vessels were amended. The Law reduced, as 
from 1 January 2020, the amount exempt from the tax on motor vehicles from ARS  1,831,084.43 t o 
ARS 1.3million. For vehicles with a value of between ARS 1.3 million and ARS 2.4 million, the rate of 20% 
was maintained. For vehicles with a sale price of over ARS 2.4 million, a new rate of 35% was introduced. For 
motorcycles and mopeds, the exempt amo unt was increased from ARS 380,000 to ARS 390,000, with a rate 
of 20% for those with a sale price of between ARS 390,000 and ARS 500,000. A new rate of 30% was 
introduced for sale prices exceeding ARS 500,000. Since April 2020, AFIP has updated these amoun ts on a 
quarterly basis, taking into account changes in the domestic wholesale price index (IPIM).  
13. Export duties.  The National Executive was granted the authority to establish export duties at a rate of 
up to 33% of the dutiable value or of the offic ial f.o.b. price. It prohibited the rate from exceeding: 33% for 
soya beans; 15% for goods which were not subject to export duties at 2 September 2018 or which had a rate 
of 0% at that date; 8% for hydrocarbons and mining; and 5% for agro -industrial produc ts from regional 
economies defined by the National Executive, and industrial goods and services. It established that 67% of 
the incremental value of export duties must be used to finance the programmes implemented by ANSES and 
the services provided by the INSSJP, and that 3% must be allocated to the solidarity fund for agro-industrial 
competitiveness managed by the Ministry of Agriculture, Livestock and Fisheries to stimulate the activity of 
small -scale producers and cooperatives through loans for productio n, innovation and addition of value. 
State -owned enterprises and companies, the purpose of which is to carry out science -, technology - and 
innovation -related activities, are exempt from the payment of export duties until 31 December 2021.  
14. Social secu rity benefits.  The Law provided that, temporarily, until 31 December 2023, up to 70% of 
the portfolio of the sustainability guarantee fund of the Argentine Integrated Social Security Scheme (SIPA) 
may be held in government securities, with or without guarantees. At the end of this period, the holding of 
these assets must be regularized within the limit of 50% established in Article 74 of Law No. 24.241.  WT/TPR/S/412 • Argentina  
 
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  15. Freely disposable reserves.  The Government was authorized to issue bills for up to USD 4,571 million 
for a 10-year term with full repayment at maturity, at an interest rate equal to that earned by the BCRA's 
international reserves for  the same period, and up to a maximum equivalent to the one -year LIBOR rate minus 
one percentage point. It was also authorized to purchase foreign currency with the proceeds of these bills.  
Notes:  In accordance with the Customs Code, the statistical fee may be applied in principle to both imports 
and exports, whether definitive or temporary (transitional). Decree No. 389/1995 established a rate 
of 3% and a series of exemptions. Decree No. 37/1998 lowered the rate to 0.5% while Decree 
No. 108/1999 establis hed a scale of maximum amounts payable, with a ceiling of USD 500 for 
transactions  exceeding USD 100,001. Decree No. 332/2019 lowered the rate to 2.5% , suspended 
the exemptions until 31 December 2019, and established a new scale of maximum amounts, with a 
ceiling of USD 125,000 for transactions  exceeding USD 5 million. Law No. 27.541 fixed the rate at 
3% and established exemptions, and Regulatory Decree No. 99/2019 set out a new scale of 
maximum amounts, with a ceiling of USD 150,000 for transactions  exceed ing USD 1 million.  
Source:  Law on social solidarity and reinvigorating production in the context of the public emergency . Law 
No. 27.541, Official Journal of 23 December 2019. Viewed at: http://www.saij.gob.ar/27541 -
nacional -ley-solidaridad -social -reactivacion -productiva -marco -emergencia -publica -lns0006797 -
2019-12-21/123456789 -0abc-defg-g79-76000scanyel?q=%28numero -
norma%3A27541%20%29&o=0&f=Total%7CTipo%20de%20Documento/Legislaci%F3n%7 CFe# . 
1.32.  During the review period, amendments were introduced to the tax revenue sharing system, 
which granted the national government the authority to collect most of the taxes and then make 
transfers to the provinces in accordance with certain agreed percen tages. The Law on f ederal  fiscal 
revenue sharing25 provides for the distribution of the proceeds from all national taxes, with the 
exception of import and export duties, and taxes subject to special sharing regimes, with a specific 
purpose or intended for investments, services and works declared to be of national interest. The 
total revenue collected is distributed in the following manner: 42.34% to the nation; 54.66% to 
affiliated provinces; 2% to compensate for the relative level of the provinces of Bueno s Aires 
(1.5701%), Chubut, Neuquén and Santa Cruz (0.1433% each); and 1% to the National Treasury 
fund for contributions to the provinces.26 
1.33.  The agreement between the national government (the Government) and the provincial 
governments27 authorizes the Government  to withhold 15% of the pool of shared taxes for the 
payment of national social security obligations, and a fixed amount to be distributed among some 
provincial states to offset fiscal imbalances. With a view to correcting distort ions and addressing 
disputes arising from the implementation of the system, a new agreement was signed between the 
Government  and the provinces. The "agreement for a new federalism ", signed on 23  May 2016 
between the Government , 19 provinces and the Autono mous City of Buenos Aires28 provided for the 
progressive elimination, until 2020, of the 15% deduction from the pool of shared taxes. In order to 
comply with the mandate on fiscal revenue sharing, the different administrations have sought to 
harmonize taxe s between the provinces and the State. A first attempt involved the signing, in 
August  1993, of the federal pact for employment, production and growth, which resulted in a 
commitment, undertaken by the provinces, to gradually eliminate a series of taxes.29 After several 
extensions, the provinces were given until 31 December 2017 (subsequently deferred) to comply 
with the provisions of the pact. The State agreed to reformulate certain taxes and adapt the rules 
on VAT withholding or payments on account to ens ure that they did not exceed an effective rate of 
18%.  
1.34.  The Federal Fiscal Responsibility Law and the amendment thereto establishes limits on 
increases in public spending for the Government, the affiliated  provincial jurisdictions and the 
 
25 Law No. 23.548, enacted on 22 January 1988, which defines how revenue is distributed between the 
nation and the provinces.  
26 Revenue is distributed to the affiliated provinces in the following proportions : Buenos Aires: 19.93%, 
Catamarca: 2.86%, Córdoba: 9.22%, Corrientes: 3.86%, Chaco: 5.18%, Chubut: 1.38%, Entre Ríos: 5.07%, 
Formosa: 3.78%, Jujuy: 2.95%, La Pampa: 1.95%, La Rioja: 2.15%, Mendoza: 4.33%, Misiones: 3.43%, 
Neuquén: 1.54%, Rio Negro: 2.62%, Salta: 3.98%, San Juan: 3.51%, San Luis: 2.37%, Santa Cruz: 1.38%, 
Santa Fe: 9.28%, Santiago del Estero: 4.29% and Tucumán: 4.94%.  
27 Ratified by Law No. 24.130, enacted on 17 September 1992.  
28 Ratified by Law No. 27.260, Official Journal of 22 July 2016.  
29 Concluded between the National State and the provincial states (Buenos Aires, Corrientes, Chaco, 
Entre Ríos, Formosa, Jujuy, La Pampa, La Rioja, Mendoza, Misiones, Salta, San Juan, San Luis, Santa Fe, 
Santiago del Estero and Tucumán), and ratified by mean s of Decree No. 14/94 of 6 January 1994.  WT/TPR/S/412 • Argentina  
 
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 Autonomous City of  Buenos Aires.30 It provides that the nominal rate of increase in the net primary 
current public spending of each jurisdiction may not exceed the rate of increase in the consumer 
price index (CPI) for national coverage. For the jurisdictions that had recor ded a current primary 
deficit in the previous year, the nominal rate of increase in total net primary public spending 
(including capital expenditure) may not exceed the aforementioned limit. Where the financial result 
is balanced, the nominal rate of incre ase in primary current spending may not exceed the GDP 
nominal growth rate, or, where this rate is negative, the rate in the CPI for national coverage. The 
Law also establishes a debt ceiling, by providing that the debt services of each jurisdiction may no t 
exceed 15% of the net current resources from shared transfers. In 2019, 22 jurisdictions had 
adopted the regime.31 
1.35.  In November 2017, the National Executive, the governors of 22 of the 23 provinces and the 
head of the City of Buenos Aires government signe d a fiscal consensus32, through which the National 
State, the provinces and the Autonomous City of Buenos Aires undertook a commitment to amend 
the Federal Fiscal Responsibility Law by 30 June 2018 and to harmonize policies.33 One of the main 
aspects of the consensus was the repeal, as from 1 January 2018, of Article 104 of the Profits Tax 
Law.34 The State made a commitment to compensate the provinces that complied with the consensus 
and adhered to it for the reduction of resou rces in 2018 as a result of the removal of Article  104 of 
the Profits Tax Law. The provinces committed to withdraw from the proceedings initiated against the 
National State for funds owed, and to not increase the stamp duty rates for the transfer of real 
estate and motor vehicles and for hydrocarbons activities , and to eliminate this rate for other 
contracts and acts as from 1 January 2022.  
1.36.  The deterioration of the public finances situation and the need to seek fiscal consolidation 
made it necessary to adap t the fiscal consensus and postpone some of the targets established 
therein. A new fiscal consensus was signed in September 201835, which, inter alia , repealed, as from 
1 January 2019, the total or partial exemption or deduction of the object of the profit s tax, and 
postponed the elimination of the stamp duty for one year. In December 2019, the fiscal consensus 
of 2019 was signed, through which it was decided, due to the worsening of the economic and fiscal 
situation, to suspend until 31 December 2020 the a pplication of most of the paragraphs of the fiscal 
consensus of 2017 and 2018, including the elimination of Article 104 of the Profits Tax Law, which 
consequently postponed fiscal harmonization and further deferred the schedule for the elimination 
of the s tamp duty.36 
1.37.  In 2016, the original purpose of the Federal Solidarity Fund, created in 2009, was expanded, 
thus enabling it to finance infrastructure works in the provinces and municipalities, and in the 
 
30 Law No. 25.917, enacted on 24 August 2004, amended by Law No. 27.428, Official Journal of 2 
January 2018 (federal fiscal responsibility and good governance practices regime).  
31 All provinces, with the exception of La Pampa and San Luis, and the Autonomous City of Buenos 
Aires.  
32 Approved by Law No. 27.429, Official Journal of 2 January 2018.  
33 The provinces committed to: (a) eliminate differential treatment regarding the tax on gross revenue, 
the main resource for the provincial governments, based on corporate establishment or place of production, 
and to adapt the operation of withholding, levy and collection systems, in order to respect the territorial limit of 
the taxation powe r of the jurisdictions, and establish a mechanism for the automatic refund of the accumulated 
credit balance generated by withholdings and levies; (b) adopt valuation procedures and methodologies for the 
calculation of the tax on real estate, and set rates  of between 0.5% and 2% of the tax value; (c) refrain from 
increasing the stamp duty rates for the transfer of real estate and motor vehicles, and hydrocarbons activities 
and auxiliary services, and to gradually reduce these rates (by a maximum of 0.75% from 1 January 2019), 
and eliminate them from 1 January 2022 for other acts and contracts; and (d) adapt municipal rates to ensure 
that they correspond to the provision of a service and are proportional to the cost of that service.  
34 Article 104 of the Profi ts Tax Law provided that the proceeds of the tax would be distributed as 
follows: (a) 20% to the unified social security system, for the payment of national social security obligations; 
(b) 10%, subject to a ceiling, to the province of Buenos Aires, and the excess of the ceiling among the other 
provinces in accordance with the proportions established in Law No. 23.548; (c) 2%  to the National Treasury 
fund for contributions to the provinces; (d) 4% to the provinces, excluding Buenos Aires, in accordance with 
the index of unsatisfied basic needs; and (e) the remaining 64% would be distributed between  the nation and 
the provinces . 
35 Approved by Law No. 27.469 of 4 December 2018.  
36 Law No. 27.542, Official Journal of 12 February 2020, Annex I of which implemented the consensus 
signed on 17 December 2019. The fiscal consensus of 2019, inter alia , suspended the scheme for the reducti on 
of rates scheduled for 2020, and established, with regard to the stamp duty, that the provincial jurisdictions 
may increase, in 2020, the rates for the transfer of real estate and motor vehicles, and hydrocarbons activities 
and auxiliary services. Lastl y, the provinces were authorized to implement taxes once again.  WT/TPR/S/412 • Argentina  
 
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  Autonomous City of Buenos Aires, while prohibiting th e use of the resources to finance current 
expenditure.37 The fund was financed with 30% of national state revenue obtained from export 
duties on soya beans. Of total revenue collected by the provinces, 70% was used to finance 
infrastructure works in the pr ovinces, while the other 30% was transferred to the municipalities. In 
August 2018, the Federal Solidarity Fund was abolished because of the need to accelerate fiscal 
consolidation.38 
1.2.4   Monetary and exchange rate policies  
1.38.  Argentina's monetary and exchange ra te policy is managed by the Central Bank of  Argentina 
(BCRA). The purpose of the BCRA is to promote monetary  stability, financial stability, employment 
and economic development with social equity, within the limits of its authority and in the framework 
of policies established by the Government. The functions and authority of the BCRA are defined in 
Article 4(b) of Law No. 26.739. While the BCRA is not authorized to provide loans to the Government, 
provinces or municipalities, or to guarantee or endorse bill s or other obligations of these entities, its 
Charter allows it to make temporary advances to the Government for up to 12% of the monetary 
base. It may also make advances of up to 10% of the cash resources obtained by the  Government 
in the last 12 months. These advances have to be repaid within 12 months of being released. The  
BCRA is also authorized, "on an exceptional basis and if the national or international economic 
situation or prospects so justify"  and for a maximum period of 18 months , to make tempo rary 
advances for an additional amount equivalent to up to 10% of the cash resources received by 
the Government  in the last 12 months, which must be repaid within 18 months of being released.39 
1.39.  Regarding the management of monetary policy, between 2012 and 2015, there was a period 
in which a relatively expansionary approach to the implementation of monetary programmes was 
adopted. The average annual variation of the money aggregate M2 fluctuated between 27% and 
33.7%, which entailed an increase in real terms  (Table 1.4). From 2016 until 2019, the monetary 
policy bias was contractionary, as the increase in M2 was below the inflation rate, and the monetary 
policy rate and other interest rates rose. In 2020, the monetary bias became more expansionary in 
order to  address the negative effects of the COVID -19 pandemic, in particular through an increase 
in credit.  
Table 1. 4 Main monetary indicators, 2012 -20 
 
2012  2013  2014  2015  2016  2017  2018  2019  2020  
Monetary variablesa          
Monetary base (% of GDP)  9.3 9.4 8.3 8.4 7.8 7.9 7.7 6.7 8.0 
Monetary base (growth rate)  35.9 28.5 20.2 32.1 28.7 30.2 32.6 28.4 51.2 
M2 (% of GDP)  15.7 16.0 15.0 15.4 14.9 16.7 16.8 14.6 18.0 
M2 (growth rate)  27.0 29.0 28.0 33.7 33.4 45.8 36.8 28.6 55.0 
M3 (% of GDP)  26.0 26.2 23.9 24.5 23.7 25.1 26.8 24.1 28.8 
M3 (growth rate)  25.8 28.1 24.7 33.4 33.7 36.9 45.9 32.6 50.4 
Interest rates (average annual, %)  
In joint savings accounts  0.3 0.2 0.2 0.2 0.2 0.3 3.4 7.2 4.5 
Fixed term, in pesos, 30 to 59 days  12.0 14.9 20.4 21.2 24.3 19.0 31.9 47.3 29.3 
Fixed term, in pesos, more than 60 days  12.3 14.9 22.9 24.1 24.8 19.4 32.5 47.6 29.9 
Fixed term, in USD, 30 to 59 days  0.5 0.5 0.9 1.6 0.8 0.4 0.9 1.5 0.7 
Fixed term, in USD, more than 60 days  1.0 0.9 1.5 2.4 1.3 0.7 1.3 2.0 1.0 
Monetary policy rateb .. .. .. 36.5 31.0 26.3 44.2 65.2 39.6 
Inflation           
Consumer price index, domestic total (end 
of period, Dec . 2016=100)  .. .. .. .. 100.0  124.8  184.3  283.4  385.9  
Consumer price index, Greater Buenos 
Aires area (end of period, Dec . 2016=100)  .. .. .. .. 100.0  125.0  183.9  281.2  377.1  
Consumer price index, domestic total (end 
of period, variation %)c 10.8 10.9 .. .. .. 24.8 47.6 53.8 36.1 
Domestic wholesale price index (IPIM), 
general level (average annual variation 
%)d 12.9 13.6 27.0 13.0  25.1 17.7 49.7 59.1 41.3 
Domestic wholesale price index (IPIM), 
domestic products (average annual 
variation %)  13.1 13.6 26.6 13.2 25.0 18.3 48.5 58.7 41.0 
 
37 The fund was created through Decree No. 206/2009 of 19 March 2009. The amendments to the 
objectives of the fund were introduced by Article 74 of Law No. 27.341, Official Journal of 21 Decemb er 2016.  
38 Decree No. 756/2018, Official Journal of 15 August 2018.  
39 Article 20 of the Charter of the BCRA, Law No. 24.144.  WT/TPR/S/412 • Argentina  
 
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2012  2013  2014  2015  2016  2017  2018  2019  2020  
Exchange rates           
Multilateral real exchange rate index (Dec . 
2015=100)  104.2  100.4  105.7  82.7 94.2 88.3 109.5  121.5  118.4  
Multilateral real exchange rate index with 
Brazil (annual variation)  -19.5 -7.8 3.5 -30.3 17.5 0.4 12.8 9.1 -17.9 
Multilateral real exchange rate index with 
the United States of America (annual 
variation)  -9.2 -2.6 8.0 -10.3 15.9 -9.2 28.2 15.2 4.4 
Multilateral real exchange rate index with 
the Eurozone (annual variation)  -15.8 0.6 6.9 -25.2 14.5 -7.9 32.7 8.9 5.5 
.. Not available.  
a Average annual balances at end of month.  
b Until 31 December 2016, the term of the LEBAC interest rate was 35 days.  
 Since 2 January 2017, the monetary policy benchmark rate has corresponded to the mid -band of the 
seven -day repo interest rates corridor.  
 Since 8 August 2018, it has been the weighted average rate of liquidity bills (LELIQ s). 
 Since 21 January 2020, it has corresponded to the weighted average rate of the shortest -term LELIQ 
auctioned in the last successful bid, which will remain in effect until the next auction process.  
c Calculated in accordance with the current prevalence rate: 2008=100 for 2012 and 2013 
(component index). It was not possible to calculate the figures for 2014, 2015 and 2016.  
d The current series of the IPIM by INDE C began in December 2015. The previous series were 
published as historical series and went up to October 2015. Therefore, in 2015, no data were 
published for the months of November and December, and the figure submitted covered up to 
October, as it was not  possible to close the full year.  
Source:  Central Bank of  Argentin a (BCRA) and the National Institute of Statistics and Censuses (INDEC).  
1.40.  During the review period, Argentina 's monetary and exchange rate policy underwent various 
changes. In the first stage,  from 2012 to the end of 2015, the target monetary variable of the BCRA 
was the money aggregate M2.40 The BCRA established quarterly bands for the M2, in order to allow 
for a certain amount of flexibility in monetary policy to manage other variables that c ould influence 
the liquidity of the economy, such as the short -term interest rate. This was achieved through daily 
intervention in the repo market, bond trading operations, and intervention in the foreign exchange 
market. The  BCRA sterilize d all surplus mo netary expansion, basically by issuing bills and notes 
(LEBAC and  NOBAC).  
1.41.  In December 2015, the BCRA refocused its monetary policy towards the primary objective of 
lowering inflation. The inflation objective fixed by the authorities was to reach, within a reasonable 
time-frame, an annual inflation rate of 5%. The instrument that was used to achieve this objective 
was the interest rate. It was decided that the exchange rate would be freely determined in the 
market, with occasional interventions by the moneta ry authority.41 In September 2016, the BCRA 
launched the inflation targeting regime, which involved the BCRA using all monetary policy 
instruments at its disposal to achieve its objectives.42 The targets set were 12% to 17% for 2017, 
8% to 12% for 2018 and  5% as from 2019. For 2016, an inflation target of 25% was sought. At the 
same time, the consumer price index was amended, in order to obtain national coverage and not 
only coverage of Greater Buenos Aires, which had been the case until then. In January 20 17, the 
BCRA changed its monetary policy interest rate, abandoning the 35 -day term LEBAC rate, and 
replacing it with the mid -band of the seven -day repo corridor.43 As a result, in 2017, inflation 
decreased, but at a slower pace than that expected by the BC RA. In 2017, the increase in the CPI 
was 24.8% above the target set, partly due to the relaxing of monetary policy between October  2016 
 
40 The sum of currency in circulation, private and public sector current -account deposits in pesos, and 
private and public sector sa vings deposits in pesos.  
41 BCRA (2016), Informe de Política Monetaria (Monetary Policy Report), May 2016. Viewed at: 
http://www.bcra.gov.ar/Pdfs/PoliticaMonetaria/IPM_Mayo_20 16_i.pdf.   
42 BCRA (2017), Monetary Policy Report, January 2017. Viewed at: 
http://www.bcra.gov.ar/Pdfs/PoliticaMonetaria/IPOM_January_2017.pdf.   
43 A reverse repo consists o f the purchase of a security (a LEBAC) at the current price, subject to a 
future sale, in this case within seven days, at a pre -determined price. The difference between the purchase 
price and the sale price implies the interest rate of the transaction. For  a reverse repo (or repo), the BCRA 
pays (charges) an interest rate to the commercial bank that provided it with the excess liquidity. BCRA (2017), 
Monetary Policy Report, January 2017. Viewed at: 
http://www.bcra.gov.ar/Pdfs/PoliticaMonetaria/IPOM_January_2017.pdf.  WT/TPR/S/412 • Argentina  
 
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  and March 2017, the increase in regulated prices above that estimated by the BCRA, and a 
percentage of adjustment of nom inal medium -term contracts above future inflation expectations.44 
1.42.  Inflation rose sharply in the third quarter of 2018, reaching a monthly average of 4.5% and 
6.5% in September. This increase was associated with the accelerated depreciation of the peso as 
from April, which resulted in more uncertainty and a higher price correction, and which caused an 
increase in inflation expectations. Inflation expectations over 12 months climbed from 24.1% at the 
end of July to 33.4% at the end of August. To resume the pa th of disinflation and recover the anchor 
on expectations (to prevent them from continuing to increase), the BCRA amended, at the end of 
September 2018, its monetary policy scheme and discontinued the inflation targeting regime as it 
had failed to achieve the expected results.  
1.43.  The new monetary policy scheme that entered into force on 1 October 2018 was based on 
monetary base control, monetary aggregate under the direct control of the BCRA, and grew at a 
rate of more than 2% per month. The BCRA committed to refrain from increasing the nominal 
monetary base until June 2019, and decided that the zero nominal monthly growth target would be 
seasonally adjusted in December and June when the money demand increases. In parallel, 
intervention and non -intervention zon es were defined for the exchange rate until the end of 2018, 
with limits adjusted daily at a rate of 3%.45 Above the non -intervention zone, the BCRA was able to 
sell foreign currency for a daily amount of up to USD 150 million, which resulted in a monetary  
contraction. Below the non -intervention zone, the BCRA was able to purchase foreign currency and 
decide whether or not to withdraw the pesos injected by the purchase of this currency. Within the 
non-intervention zone, the exchange rate fluctuated freely. It was also decided that the BCRA would 
no longer make transfers to the Treasury. In adopting this policy, the BCRA considered that, together 
with the announcement of a zero primary fiscal deficit for 2019, it was a necessary tool to begin to 
reduce both inflation expectations and rates.46 
1.44.  The BCRA exceeded the monetary base target in the first months following the implementation 
of the new scheme.47 The LELIQ average annual interest rate, which stood at 73.5% in early 
October  2018, declined to 56.9% at the  end of January 2019. The exchange rate remained within 
the non -intervention zone during the last quarter of 2018, coming closer to the lower bound. In 
January and February 2019, the exchange rate was below the non -intervention zone and the BCRA 
purchased foreign currency in response to an increased demand for pesos. The monthly inflation 
rate started to fall from the peak recorded in September 2018 (6.5%), although it remained above 
the levels sought  by the BCRA, partly due to the increases in regulated pr ices. In light of this, the 
Monetary Policy Committee (COPOM) of the BCRA introduced a series of additional measures 
whereby it: reduced the monetary base target by ARS 43 billion and extended the monetary base 
zero-growth target until the end of 2019; eli minated the seasonal adjustment of the monetary base 
in June  2019; rendered permanent the overcompliance of the target obtained in February; 
established a minimum value for the benchmark interest rate and therefore decided to absorb the 
liquidity required to maintain a minimum LELIQ bidding rate of 62.5% per year during April  2019; 
set the bounds of the non -intervention zone at the levels of the beginning of the year until the end 
of 2019, and decided to refrain from purchasing foreign currency below the fl oor until 30 June 2019; 
and authorized the sale of foreign currency in the exchange market vis -à-vis episodes of excessive 
volatility, even within the reference zone.48 
1.45.  In its Monetary Policy Report of July 2019, the BCRA stated that maintaining an approac h 
based on a contractionary monetary policy was essential to ensure that factors underlying inflation, 
such as increased regulated prices or exchange rate fluctuations, did not have a permanent impact. 
It therefore decided to maintain the contractionary bi as of the monetary scheme throughout 2019. 
During the second quarter of 2019, the BCRA continued to comply with its zero -growth target for 
the monetary base. In light of a fall in inflation and lower inflation expectations, COPOM reduced the 
 
44 BCRA (2018), Monetary Policy Report, January 2018. Viewed at: 
http://www.bcr a.gov.ar/Pdfs/PoliticaMonetaria/IPOM_Enero_2018_i.pdf.   
45 The non -intervention zone was set on 1 October 2018 for an exchange rate of ARS 34 per US dollar in 
the lower bound and ARS 44 per US dollar in the upper bound.  
46 BCRA (2018), Monetary Policy Report , October 2018. Viewed at: 
http://www.bcra.gov.ar/Pdfs/PoliticaMonetaria/IPOM1018_i.pdf .  
47 BCRA (2019), Monetary Policy Report, January 2019. Viewed at: 
http://www.bcra.gov.ar/Pdfs/PoliticaMonetaria/IPOM0119_i.pdf .  
48 BCRA (2019), Monetary Policy Report, April 2019. Viewed at: 
http://www.bcra.gov.ar/Pdfs/PoliticaMonetaria/IPOM0419_i.pd f.  WT/TPR/S/412 • Argentina  
 
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 floor of the b enchmark interest rate (LELIQ) to 58% in July. Furthermore, in order to contribute to 
strengthening the transmission of the LELIQ interest rates, the BCRA decided to reduce by three 
percentage points the regulatory minimum cash requirement on fixed -term de posits as from July, 
and established that the monetary base target would be reduced as from August to 
ARS 1.2982  billion in October, and therefore offset the effect of the reduction in minimum reserve 
requirements.49 
1.46.  However, in August 2019, after the results of the primary elections, inflation expectations and 
the risk perception related to Argentine assets went up again, which led to a reduced exposure 
regarding these assets and, in turn, a steep decline in their price, a depreciation of the exchange 
rate, a rise in the benchmark interest rate and a drop in deposits in dollars, which began to be 
reflected by a fall in the BCRA 's international reserves. In a context of high uncertainty, the 
depreciation of the peso resulted in an acceleration of inflati on. In view of this, the Government 
eliminated VAT for a group of products in the basic food basket to mitigate the effects of inflation on 
households, and maintained the decision to apply no further increases to public utilities rates until 
the end of the  year. The BCRA began to apply a more contractionary monetary policy and 
implemented measures aimed at regulating access to the foreign exchange market to curb exchange 
rate volatility, and at reducing the demand for dollars. This was compounded by the eff ect of foreign 
exchange interventions carried out by the BCRA to mitigate exchange rate volatility and prevent a 
further exchange rate increase pass -through to prices, and the closing of capital markets for the 
public sector entailing a greater use of inte rnational reserves to cover debt maturities. The decline 
in international reserves entailed a reduction of the money supply.50 In order to prevent an excessive 
monetary contraction, COPOM adjusted its monetary base targets, forecasting monthly growth of 
2.5% in September and October 2019. In order to ensure the contractionary bias of the monetary 
policy, COPOM increased the floor for LELIQ interest rates from 58% to 78% in September, and set 
the floor at 68% for October.51 
1.47.  Furthermore, the authorities adopt ed a series of measures to reduce the loss of international 
reserves, and announced the extension of the maturities (reprofiling) of the National Treasury 's 
short-term debt (see above). The BCRA also implemented measures intended to regulate the inflows 
and outflows of the foreign exchange market and reduce the net demand for US dollars. The foreign 
exchange measures implemented by the BCRA as from 1 September 2019 include: (a) the obligation 
for exporters of goods and services to settle their foreign curre ncy earnings in the domestic market 
within five working days after collection or disbursement; (b) the requirement of prior authorization 
from the BCRA for the purchase of foreign assets, the transfer abroad of earnings and dividends, 
and transfers abroad by legal persons; (c) restrictions on foreign exchange market access for the 
payment of new debts and other obligations in foreign currency among residents; (d) authorization 
from the BCRA for purchases exceeding USD 10,000 by natural persons; (e) authoriz ation from the 
BCRA to access the foreign exchange market for amounts exceeding USD 1,000 per month for non -
residents; and (f) a limit of USD 100,000 for the purchase of a single family home.  
1.48.  With the arrival of the new Government, the BCRA amended its mon etary and exchange rate 
policy guidelines, and released them in January 2020. It established a monetary policy aimed at 
promoting a prudent expansion of monetary aggregates, and avoiding imbalances that would affect 
the inflation process. Regarding the exc hange rate, it adopted a managed floating exchange rate 
policy to avoid drastic fluctuations in exchange rates, and to allow for a preventive accumulation of 
international reserves. As it was not considered possible to set specific targets for the expansio n of 
monetary aggregates or inflation, the BCRA established guidelines on these indicators, and on 
interest rates, the exchange rate, credit, level of activity and employment. It reaffirmed the 
requirement for the entry of foreign currency from exports int o the local exchange market and the 
mandatory limits on the creation of external assets with local resources, and also established a tax 
on the purchase of foreign currency for savings purposes and the payment of tourism services and 
 
49 BCRA (2019), Monetary Policy Report , July 2019. Viewed at: 
http://www.bcra.gov.ar/Pdfs/PoliticaMonetaria/IPOM0719_i.pdf .  
50 The BCRA estimates that, between 9 and 30 August 2019, international reserves fell by 
USD 12,208million ( -18%) driven by USD 2,038 million from exchange interventions, USD  4,862  million 
related to the outflow of bank deposits in US dollars and USD 5,262 million from public sector transactions, 
mainly due  to debt maturities. BCRA (2019), Monetary Policy Report,  October 2019. Viewed at: 
http://www.bcra.gov.ar/Pdfs/PoliticaMonetaria/IPOM1019_i.pdf .  
51 BCRA (2019), Monetary Policy Report, October 2019. Viewed at: 
http://www.bcra.gov.ar/Pdfs/PoliticaMonetaria/IPOM1019_i.pdf .  WT/TPR/S/412 • Argentina  
 
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  travel abroad.52 The B CRA decided to assist the Treasury, on an exceptional basis, in the event of 
debt payments abroad and regarding limits that respected the balance in the money market for 
financing in domestic currency. Concerning interest rates, the strategy defined was to  maintain the 
real interest rate at positive levels, so as to preserve the financial and external stability of the 
economy, and encourage savings in domestic currency. As regards inflation, the BCRA sought to 
introduce a progressive but sustainable reducti on of the inflation rate based on the concurrent 
application of monetary, foreign exchange and fiscal policies, price agreements and the coordination 
of short - and long -term strategies. It also sought to establish a gradual process of remonetization 
and do mestic credit expansion.53 
1.49.  In October 2020, the BCRA issued a new update to the monetary policy guidelines in order to 
take into account, in particular, the effects of the increase in liquidity resulting from the measures 
adopted to address the pandemic. T he BCRA decided to monitor the developments in monetary 
aggregates and respond through greater reliance on open market operations. It also decided to 
gradually harmonize monetary policy benchmark rates. As part of the managed flotation strategy, 
the BCRA d ecided to gradually adjust the daily depreciation rate to the needs of the economic 
environment and maintain the foreign exchange regulations until the fiscal, external and monetary 
situation improved.54 
1.50.  The BCRA established its monetary, foreign exchange,  credit and financial policy for 2021 with 
the following key objectives: (a) support economic standardization through a counter -cyclical 
monetary policy; (b) restore confidence in the Argentine peso; (c) sustain the gradual process of 
disinflation through the careful management of monetary, financial and foreign exchange conditions, 
while meeting the essential financing needs of the Treasury; (d) contribute to the external balance 
through the calibration of the BCRA 's policies in order to promote foreign ex change stability and 
strengthen the international reserve position, while maintaining the foreign exchange regulations in 
force to minimize possible pressures on the foreign exchange market; (e) enhance the recovery of 
private credit; (f) preserve financia l stability, while maintaining up -to-date prudential regulations 
and monitoring the performance of institutions; (g) promote the development of the capital market; 
and (h) foster greater financial inclusion.55 
1.51.  The main foreign exchange measures in force ma y be consulted in the communications of the 
BCRA and the decisions of the National Securities Commission (CNV). BCRA Communication "A" 
7030 of 28 May 2020 establishes that, in order to access the foreign exchange market, it is necessary 
to: (a) deposit all  foreign currency holdings in the country in accounts in financial institutions; (b)  not 
possess available liquid assets; (c) settle, in the foreign exchange market, funds received abroad 
for assets created after 28 May 2020 within five working days of the ir acquisition; and (d) obtain 
the authorization of the BCRA (until 30 June 2020) for the payment of imports of goods or the 
cancellation of the principal on debts arising from imports of goods.56 Communication "A" 7193 of 
30 December 2020 extended the tim e-limit for this compliance requirement to 31 March 2021, and 
Communication "A" 7239 of 18 March 2021 extended it again up to and including 30 June 2021. 
Communication "A" 7201 of 6 January 2021 made it necessary to obtain prior authorization from 
the BCRA  to access the foreign exchange market for the payment of imports of luxury goods, which 
are considered to include: high -end motor vehicles and motorcycles (with a price generally exceeding 
USD 1,000), private jets, recreational crafts (with a value exceed ing USD 5,000), spirits with a price 
exceeding USD 50 per litre, diamonds and precious stones. Communication "A" 7200, also of 
 
52 BCRA (2020), Monetary Policy Report , February 2020. Viewed at: 
http://www.bcra.gov.ar/Pdfs/PoliticaMonetaria/IPOM0220_i.pdf .  
53 Information provided by the BCRA . Viewed at: 
http://www.bcra.gov.ar/PoliticaMonetaria/Politica_Monetaria.asp .  
54 Information provided by the BCRA . Viewed at: 
http://www.bcra.gov.ar/PoliticaMonetaria/Politica_Mone taria.asp .  
55 BCRA (2021), Objetivos y planes respecto del desarrollo de las políticas monetaria, financiera, 
crediticia y cambiaria para el año 2021 . Viewed at: 
https://www.bcra.gob .ar/Pdfs/Institucional/OyP%202021.pdf .  
56 This requirement does not apply to the public sector or state-controlled enterprises. It does not apply 
to imports of critical medicines for patients where advance payments are made, or to payments for imports 
intended for the purchase of COVID -19 test kits or other goods under tariff subheadings that are listed in 
Decree No. 333/2020 and the supplementary provisions thereto. BCRA (2020), Communication  "A" 7030 , 
28 May 2020. Viewed at: http://www.bcra.gov.ar/pdfs/comytexord/A7030.pdf .  WT/TPR/S/412 • Argentina  
 
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 6 January2021, created the "registry of foreign exchange information of exporters and importers of 
goods" and provided for mandatory registration by 30 April 2021.  
1.52.  During the review period, the consumer price index (IPC -GBA), which reflected the price 
variations in the area of Greater Buenos Aires, was replaced by an index with national coverage. The 
national  consumer price index started to be calculated in December 2016. This index rose by 24.8% 
in the 12 months to December 2017, and then saw its growth accelerate, reaching 53.8% in the 
12 months to December 2019. In the 12 months to December 2020, the increa se in the consumer 
price index went down  to 36%, partly due to weak domestic demand.  
1.2.5   Balance of payments  
1.53.  The current account of Argentina's balance of payments was in deficit during all the years 
within the period 2012 -19, while a surplus was recorded in 2 020 (0.8% of GDP), mainly due to a 
steep decline in imports of goods and services created by a contraction of domestic demand owing 
to reduced levels of activity resulting from the COVID -19 pandemic, and to interest payment relief 
from debt renegotiation ( Table 1.5). The current account deficit reached a peak of 
USD 31,151 million in 2017 and USD 27,049 million in 2018 (4.8% and 5.2% of GDP, respectively), 
before declining significantly in 2019 (0.9% of GDP) mainly as a result of lower imports. The balance 
of trade in merchandise was in surplus for most of the review period (with the exception of 2015, 
2017 and 2018), although both exports and imports of goods recorded a fall in US dollar terms, 
between 2012 and 2019, of around 19% and 28%, respectively. In 2020, both exports and imports 
recorded a further contraction, which was partly due to the negative effects of the COVID -19 
pandemic on domestic demand, with exports in US dollar terms accounting for only 68% of the 2012 
level, and imports representing 62%  (USD 54,778 million and USD 40,366 million, respectively).  
Table 1. 5 Balance of payments, 2012 -20 
(USD million)   
2012  2013  2014  2015  2016  2017  2018  2019  2020  
1. Current account  -2,138  -13,124  -9,179  -17,622  -15,105  -31,151  -27,049  -3,997  2,985  
1.A Goods and services  10,944  -694 900 -6,600  -4,035  -15,143  -9,709  13,012  12,045  
1.A.a Goods  15,041  4,635  5,541  -785 4,416  -5,447  -743 18,227  14,413  
Credit ( exports)  80,084  75,928  68,440  56,809  57,960  58,662  61,801  65,155  54,778  
Debit ( imports)  65,043  71,293  62,899  57,594  53,544  64,109  62,544  46,928  40,366  
1.A.b Services  -4,097  -5,329  -4,641  -5,815  -8,452  -9,695  -8,965  -5,215  -2,367  
Credit ( exports)  14,247  13,680  13,396  13,214  13,425  15,506  15,274  14,134  9,403  
Debit ( imports)  18,344  19,009  18,038  19,029  21,876  25,202  24,239  19,349  11,770  
1.B Primary income (Income)  -13,754  -13,165  -11,614  -12,105  -12,192  -16,380  -18,619  -17,836  -10,218  
1.B.1 Remuneration  of 
employees  -63 -65 -34 26 -94 -81 -78 -77 -79 
Credit  156 178 171 216 79 110 90 85 83 
Debit  218 243 205 190 173 190 168 162 162 
1.B.2 Investment income  -13,691  -13,099  -11,580  -12,130  -12,098  -16,299  -18,541  -17,759  -10,140  
1.B.2.1 Direct investment  -9,616  -8,979  -7,300  -8,145  -7,166  -8,682  -7,415  -5,677  -2,583  
abroad  620 818 814 647 699 1,019  1,523  1,300  835 
In Argentina  10,236  9,796  8,114  8,793  7,866  9,701  8,938  6,977  3,418  
1.B.2.2 Portfolio investment  -2,659  -2,773  -2,939  -2,687  -3,505  -5,981  -9,323  -8,774  -3,930  
Credit  1,036  1,012  1,086  1,070  1,358  1,966  3,034  3,238  2,221  
Debit  3,694  3,785  4,024  3,758  4,864  7,947  12,357  12,012  6,152  
1.B.2.3 Other investment  -1,470  -1,385  -1,359  -1,322  -1,487  -1,767  -2,220  -3,636  -3,674  
Credit  390 382 473 401 627 791 1,219  1,384  828 
Debit  1,861  1,767  1,832  1,724  2,114  2,559  3,438  5,020  4,502  
1.B.2.4 Reserve assets  54 37 17 24 61 130 417 328 47 
1.C Secondary income 
(Current transfers)  672 734 1,535  1,083  1,123  371 1,279  827 1,158  
Credit  2,461  2,895  3,036  2,564  2,822  2,607  2,968  2,490  2,367  
Debit  1,789  2,161  1,501  1,481  1,699  2,236  1,689  1,663  1,209  
2. Capital account  48 33 57 52 366 173 84 126 120 
Financing capacity or need  -2,090  -13,091  -9,122  -17,570  -14,739  -30,978  -26,965  -3,871  3,105  
3. Financial account  -2,788  -16,165  -9,321  -18,498  -13,964  -31,273  -27,985  -5,153  4,158  
3.1 Direct investment  -14,269  -8,932  -3,145  -10,884  -1,474  -10,361  -10,071  -5,124  -2,889  
Assets  1,055  890 1,921  875 1,787  1,156  1,802  1,539  1,234  
Liabilities  15,324  9,822  5,065  11,759  3,260  11,517  11,873  6,663  4,123  
3.2 Portfolio investment  150 -433 2,339  -437 -35,255  -35,922  -6,683  7,127  2,971  
Assets  265 497 -25 93 798 5,502  6,092  2,104  -2,216  
Liabilities  115 929 -2,365  530 36,053  41,424  12,775  -5,022  -5,187  
3.3 Financial derivatives  2,908  -32 -168 -25 222 -96 -35 -30 1 
Assets  0 0 0 0 0 0 0 0 0 
Liabilities  -2,908  32 168 25 -222 96 35 30 -1 
3.4 Other investment  11,728  5,056  -9,542  -2,246  8,232  550 -22,473  14,249  11,802  
Assets  9,722  3,893  1,422  8,814  2,689  12,506  25,185  31,175  9,097  WT/TPR/S/412 • Argentina  
 
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2012  2013  2014  2015  2016  2017  2018  2019  2020  
Liabilities  -2,006  -1,163  10,964  11,060  -5,542  11,956  47,657  16,926  -2,705  
3.5 Reserve assets  -3,305  -11,824  1,195  -4,906  14,311  14,556  11,277  -21,375  -7,727  
 Monetary gold  0 -56 12 13 -197 -75 13 -8 367 
 Special drawing rights  -1 0 1 -1 -373 2 1,913  -1,736  -2,137  
 Reserve position in the IMF  0 0 0 0 360 22 -9 -2 15 
 Other reserve assets  -3,304  -11,768  1,182  -4,918  14,522  14,608  9,359  -19,629  -5,972  
Net errors and omissions  -698 -3,074  -198 -928 775 -295 -1,019  -1,282  1,053  
Variation in international 
reserves  -3,305  -11,824  1,195  -4,906  14,311  14,556  11,277  -21,375  -7,727  
 International reserves of the 
BCRA  -3,086  -12,690  807  -5,844  13,745  15,747  10,731  -20,937  -5,461  
 Adjustment by repo type 219  -866  -388  -938  -566  1,191  -546  437  2,266  
Memorandum           
International reserves of the 
BCRA (December, USD million)  43,290  30,599  31,407  25,563  39,308  55,055  65,786  44,848  39,387  
Total external debt balance 
(USD million)  156,478  155,489  158,742  167,412  181,432  234,549  277,932  278,489  271,505  
External debt as % of GDP  26.9 25.4 28.0 26.0 32.5 36.4 53.7 62.6 70.9 
Source:  INDEC.  
1.54.  The balance of services in Argentina has traditionally posted a deficit. This deficit more than 
doubled between 2012 and 2017 (when it reached a peak of USD 9,695 million) and 2018, before 
beginning to contract in 2019 due to a substantial drop in imports, which coincided with the adoption 
of foreign exchange restrictions. In 2020, owing mostly to the restrictions on travel and other 
tradable services that resulted from the pandemic, the deficit shrank further, reaching 
USD 2,367  million. The income account was in deficit during the review period, with the gap widening 
from USD 13,754 million in 2012 to USD 18,619 million in 2018 and USD 17,836 million in 2019. 
This was mainly in response to an increase in the investment income deficit, particularly portfolio 
investment, which was largely due to a rise in interest debits resulting from higher exte rnal debt. 
The deficit decreased to USD 10,218 million in 2020, primarily due to a lower interest burden 
resulting from negotiations with private debt holders.  
1.55.  Owing to external financing needs, the financial account recorded a rise in liabilities during a ll 
the years within the review period, with the exception of 2020. The increase in liabilities was 
particularly significant in 2017 and 2018 (USD 31,273 million and USD 27,985 million, or 4.9% and 
5.4%, respectively), as a result of the considerable increa se in external debt, and outflows of private 
capital. In 2018 in particular, USD 28 billion, corresponding to the disbursement s of the IMF stand -by 
arrangement, entered the country. Between 2012 and 2015, the international reserves of the BCRA 
recorded a s trong contraction, dropping from USD 43,290 million to USD 25,543 million, due to 
lower capital income. Between December 2015 and December 2018, on the other hand, the reserves 
increased by USD 40 billion, mainly in response to external debt, particularly with the IMF. 
However,  as from 2019, expectations deteriorated, and an outflow of capital resulted in a fall in the 
reserves  of the BCRA from USD 65,786 million at the end of 2018 to USD 44,848 million at the end 
of 2019. The decline in reserves continued in 2020, and the year closed with a level of reserves 
of USD 39,387 million.  
1.56.  Argentina 's total external debt increased significantly during the review period, from 
USD 156,478 million in 2012 (26.9% of GDP) to USD 271,505 million in 2020 (70.9% of GDP). In  
2019, the IMF indicated that Argentina's public debt had become unsustainable and that it was 
essential to refinance it to restore its sustainability.57 To this end, Law No. 27.544 on restoring the 
sustainability of public debt issued under foreign law, Official Journal of 12 February 2020, was 
approved, which authorized the National Executive to carry out  swaps and/or restructuring of 
interest maturity servic ing and capital repayments on public debt issued under foreign law. The 
Ministry of the Econ omy was authorized to issue new government securities to change the profile of 
interest maturities and capital repayments to restore the sustainability of public debt issued under 
foreign law, and to determine the time -limits, methods and procedures for th e issuance of new 
government securities. All operations related to the renegotiation of the debt remained exempt from 
the payment of all taxes, including VAT, and from national fees and contributions. 
Decree  No. 250/2020 of 9 March 2020 established a maxim um value for securities subject to 
 
57 Viewed at: https://www.imf .org/es/News/Articles/2020/02/19/pr2057 -argentina -imf-staff-statement -
on-argentina  and https://www.imf.org/en/Publications/CR/Issues/2020/03/20/Argentina -Technical -Assistance -
Report -Staff-Technical -Note-on-Public -Debt-Sustainability -49284 .  WT/TPR/S/412 • Argentina  
 
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 renegotiation in accordance with Law No. 27.544. This maximum nominal amount was determined 
at USD  68,842,528,826 or its equivalent in other currencies.  
1.57.  The negotiations with creditors over the course of 2020 included as eligible debt 21 bonds 
(issued during the 2005 and 2010 debt swaps, and after 2016), which were subject to the legislation 
of New York and the United Kingdom, and which were denominated in dollars, euros and Swiss 
francs, for a total of USD 65,620 million.58 These bonds were swapped for 12 new bonds (six in US 
dollars and six in euros) with different discounts and maximum issue amounts. The accrued interest 
on the eligible bonds was recognized through the delivery of a new bond maturing in 2029 and a 
coupon  of 1% (US dollars) or 0.5% (euros). The new bonds were issued on 4 September 2020, with 
maturities of between 8.8 and 25.8 years. The support of 93.5% of holders was obtained, which 
made it possible to amend 99.01% of the capital outstanding on the series  of eligible bonds. New 
bonds for USD 63,207 million and EUR 4,185 million were issued. Incremental interest rates (which 
increase over time) from 0.125% up to 5% in US dollars and up to 4.5% in euros, depending on the 
bond, were established. The new bonds  will mature between 2029 and 2046, are depreciable and 
bear interest as from the date of settlement of the transaction (4 September). The bonds maturing 
in 2030, 2035 and 2046 were issued with a 3% reduction in the nominal value with regard to 
swapped bon ds. As a result of the renegotiation, a grace period until 9 July 2021 was obtained for 
the payment of interest, and until 9 July 2024 and 9 January 2031, depending on the bond, for the 
first repayment. For example, the new bonds issued as compensation for  accrued interest will begin 
to be repaid in January 2025 and will mature in July 2029.59 The new bonds for 2030 in US  dollars 
and in euros will begin to be repaid in July 2024 and will mature in July 2030, and the new bonds 
for 2038 in US dollars and euro s, which will be issued as consideration for the existing discount 
bonds, will begin to be repaid in July 2027 and will mature in January 2038.60 
1.58.  In general, the creditors opted mainly for shorter -term bonds, which had reached their 
issuance limits. Most h olders of bonds in euros and Swiss francs chose to change currency and 
receive new bonds denominated in US dollars. Before the swap, the bonds denominated in US  dollars 
represented 70% of the eligible securities, while 93% of the new bonds are denominated in 
US dollars and the remaining 7% in euros.61 
1.59.  After the renegotiation of debt contracted under foreign law, renegotiation of debt under 
domestic legislation was undertaken. In this regard, Law No. 27.556 of 8 August 2020, on restoring 
the sustainability o f public debt effected in securities issued under Argentina law, was adopted. The 
Law authorized the restructuring of the debt effected in government securities that were 
denominated in US dollars and Argentine pesos, and issued under Argentine legislation . On 
4 September  2020, the results of the renegotiation of the swap of government securities 
denominated in US dollars and Argentine pesos, and issued under Argentin e legislation, were 
announced. A swap of 98.9% of the amount in circulation (updated nomina l value) of the eligible 
securities was achieved. The instruments eligible for the swap were bonds and bills denominated in 
dollars for an amount in circulation of USD 41,715 million, with some payable in US dollars and 
others in Argentine pesos, at the of ficial exchange rate (pegged to the US dollar). Around one third 
of the securities were held by private holders, while the remaining securities were in the portfolios 
of different public bodies. Also issued were n ew bonds in US dollars for USD 41,724 milli on maturing 
between 2029 and 2041, which were redeemable and bore interest with step -up coupons with a 
maximum of 5% and half -yearly payments, and new inflation -adjustable bonds in Argentine pesos 
 
58 For a detailed description of the process for the renegotiation of private external debt, see: Nemiña , 
Pablo and María Emilia Val (2020), La Renegociación de la Deuda Argentina durante la Pandemia COVID -19. 
Implicancias y Perspectivas. Fundación Carolina. Working papers 38/20. Viewed at: 
https://www.fundacioncarolina.es/wp -content/uploads/2020/11/DT_FC_38.pdf .  
59 In recognition of the accrued interest on the eligible bonds in US dollars and euros, new bonds in US 
dollars and euros, maturing in 2029, were issued for USD  2,635 million and EUR 90 million, respectively. 
Information provided by the Government of Argentina . Viewed at: 
https://www.argentina.gob.ar/noticias/argentina -y-tres-grupos -de-acreedores -alcanzan -acuerdo -de-
reestructuracion -de-deuda .  
60 Information provided by the Government of Argentina . Viewed at: 
https://www.argentina.gob.ar/noticias/argentina -y-tres-grupos -de-acreedores -alcanzan -acuerdo -de-
reestructuracion -de-deuda. 
61 Oficina de Presupuesto del Congreso , OPC (Congressional Budget Office) (2020), Operaciones de 
Deuda Pública. August 2020. Published on 11 September 2020. Viewed at: 
https://www.opc.gob.ar/operaciones -de-deuda -publica/operaciones -de-deuda -publica -agosto -2020-2/.  WT/TPR/S/412 • Argentina  
 
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  (BONSER) for ARS  57,683  million, maturing in 2026 and 2028,  and bearing interest at an annual 
rate of 2% and 2.25%, respectively.  
1.60.  The new bonds in US dollars have the same financial structure as the bonds issued in the 
swap under foreign law. In the swap of new bonds in US dollars, the National Treasury Bills (LET ES) 
and the Argentine Bonds (BONAR) decreased in nominal value by 3%. The BONCER swap was carried 
out without a reduction, at a predetermined exchange rate (ARS 72.695 per US dollar). For those 
who entered the swap until 4 September, accrued interest on th eir eligible bonds up to that date 
was recognized, through the issuance of bonds in the same currency. In general, the swap created 
a decrease in coupon rates and an extension of the maturity profiles. The average instrument life 
increased from 5.1 to 10.4  years.  
1.61.  According to the Congressional Budget Office, as a result of both swaps (securities under 
foreign and Argentine legislation), the debt maturity burden (including public sector debt) declined 
by USD 55,500 million for the 2020 -24 period . Since , as from 2028, the new bonds will generate 
higher payments than the previous ones, the decrease in maturities for 2020 -30 is somewhat lower, 
around USD 52,000 million.62 
1.62.  After completing the restructuring of its debt with private creditors, Argentina undertook 
negotiations with the IMF to obtain a new loan, as a replacement for the stand -by arrangement 
signed in 2018. The IMF credit maturities begin in September 2021 and the payment is concentrated 
over a period of two years.  
1.3  Developments in trade and investment  
1.3.1   Trends and patterns in merchandise and services trade  
1.3.1.1   Developments in merchandise trade  
1.63.  According to information from the Comtrade database, between 2012 and 2020, Argentine 
exports of goods in US dollar terms fell at an average annual rate of 4.6% and re ached 
USD 54,884  million in 2020 (Tables A1.1 and A1.3). Imports fell even more sharply, at an average 
annual rate of 5.7% (Tables A1.2 and A1.4), and reached a level of USD 42,356 million in 2020. 
Although both exports and imports decreased, the GDP share  of merchandise trade remained at 
around 25.5% in 2019, a percentage similar to that observed in 2012. This reflects the GDP 
contraction in US  dollar terms.  
1.64.  The drop in exports reflects to a large extent the deterioration in Argentina 's terms of trade. 
The decrease in imports is a reflection of weak domestic demand, for both consumer and capital 
goods. The authorities observed that imports of capital goods maintained a certain stability until 
2015, demonstrated growth until 2017 as a result of the liberaliz ation of imports, and, as from 2018, 
recorded a decline as a result of devaluation and lower economic activity.  
1.3.1.2   Composition of merchandise trade  
1.65.  Argentina is a major exporter of products in the agricultural chain, which were still its leading 
export item, accounting for 63.3% of the total in 2020. Oil  seeds, soya  beans, wheat, maize (corn) 
and beef are the main export products (Table A1.1).  
1.66.  The share of manufacturing in total exports decreased in the review period, mainly due to the 
steep fall in exports of  products from the automotive industry and chemical products (Table  A1.1 
and Chart 1.1). Exports of fuel also dropped sharply.  
1.67.  The composition of Argentine imports in 2012 -2020 demonstrated an increase in the share of 
machinery and equipment and chemical products. A strong contraction in imports of vehicles and 
fuel was also observed (Chart 1.1). In 2020, manufactured products acc ounted for 85% of imports.  
 
62 Oficina de Presupuesto del Congreso , OPC (Congressional Budget Office) (2020), Operaciones de 
Deuda Pública. August 2020. Published on 11 September 2020. Viewed at: 
https://www.opc.gob.ar/operaciones -de-deuda -publica/operac iones-de-deuda -publica -agosto -2020-2/. WT/TPR/S/412 • Argentina  
 
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 1.3.1.3   Merchandise trade destinations  
1.68.  During the review period, although the share of the countries of the American continent as a 
destination of Argentine exports continued to fall, they remained the leading market, with the 
reception of 37.8% of total exports in 2020 (Table A1.3 and Chart 1.2). The main markets were: 
Brazil (14.5% of total exports), the United States of America (6.0%) and Chile (5.3%). Exports to 
Europe represented 16.2% of total exports, of which 12.2% went to the Eur opean Union. Asia's 
share of exports continued to rise, reaching 29.6% of the total in  2020, largely as a result of 
increased Argentine exports to China (9.6% of the total), which became the largest market for 
Argentine exports in Asia.  
1.69.  The proportion of i mports sourced from the American continent decreased from 51.7% in 
2012 to 45.2% of the total in 2020 (Table A1. 2 and Chart 1.2). Imports from Brazil fell to 20.4% of 
the total in 2020 from 26% in 2012. The share of the United States of America and the Eur opean 
Union dropped from 12.5% to 10.4% and from 17.1% to 15.6%, respectively. China 's share in 
Argentine imports increased substantially in t he review period from 14.6% of the total in  2012 to 
20.4% in 2020.  WT/TPR/S/412 • Argentina  
 
- 42 - 
 
  Chart 1. 1 Merchand ise trade by main products, 2012 and 2020  
 
Source:  WTO Secretariat calculations, based on data from the UN Comtrade database.  
2012 2020
(a)    Exports
Total: USD 79,982  millon
(b)    Imports
Total: USD 67,974 millon Total: USD 42,356 millonTotal: USD 54,884 millonOther
15.2%Other
22.4%
Mineral 
products
14.1%
Chemical 
products
14.8%
Plastic
6.1%
Electrical machines 
and aparatus
25.8%Other
10.7% Mineral 
products
7.1%
Chemical 
products
21.1%
Plastic
6.7%
Base metals
5.5%Electrical machines 
and aparatus
26.3%Otros
12.4%
Base 
metals
5.8%Instruments and 
Apparatus 2.5%Plant 
products
20.2%
Plant 
products
25.7%Precious 
metals and 
precious 
stones
3.2%Animal products
10.7%
Precious metals and 
precious stones
2.1%Animal products
5.9%
Vehicles, 
aircraft, 
vessels and 
associated 
transport 
equipment
19.3%Vehicles, 
aircraft, 
vessels and 
associated 
transport 
equipment
11.4%Mineral 
products
9.0%Prepared 
foodstuffs
18.8%Fats and 
oils
7.4%
Prepared foodstuffs
18.9%Fats and oils
8.0%Chemical 
products
7.5%Vehicles, 
aircraft, 
vessels and 
associated 
transport 
equipment
12.8%
Mineral 
products
2.8%Chemical products
4.3%Vehicles, aircraft, 
vessels and associated 
transport equipment
5.0%
Plant 
products
0.9%Plant 
products
6.5%
Instruments 
and Apparatus
2.9%WT/TPR/S/412 • Argentina  
 
- 43 - 
 
 Chart 1. 2 Merchandise trade by trading partner, 2012 and 2020  
 
Source:  WTO Secretariat calculations , based on data from the UN Comtrade database.  
2012 2020
(a)    Exports
Total: USD 79,982 millon
(b)    Imports
Total: USD 67,974 millon Total: USD 42,356 millonTotal: USD 54,884 millonBrazil
20.6%Others
3.8%United 
States of 
America
5.0%
Other 
America
13.9%Peru
2.4%
Brazil
26.0%America
37.8%United 
States of 
America
6.0%
Other America 
7.6%Chile
5.3%Others
3.0%
Asia
29.6%America
50.6%Asia
18.7%
United 
States of 
America
Other 
America
10.7%Paraguay
0.7%China
14.6%Other 
Asia
5.7%Other
5.0%United 
States of 
America
10.4%
Bolivia
2.4%
Other 
America
6.7%Thailand
2.4%
China
20.4%Other 
Asia
7.6%Other
4.5%
America
51.7%America
45.2%
Europe
19.5% Europe
18.2%Asia
23.8%Asia
32.1%Africa
6.9%
Europe
16.2%Chile
6.3%Peru
2.5%
Paraguay
5.2%Uruguay
2.3%Uruguay
1.9%
EU (27)
13.5%Other Europe
2.4%
Brazil
20.4%Other 
Asia
12.4%
Thailand
1.3%Other 
Europe
4.1%China
6.3%Other 
Asia
20.1%Brazil
14.5%
Bolivia
1.9%Middle 
East
4.0%
EU (27)
12.1%
Japan
1.7%Japan
2.2%Europe
15.9%
China
9.6%Africa
7.5%Middle 
East
5.8%
EU (27)
17.1%
EU (27)
15.6%Other 
Europe
2.5%
Other Europe
2.6%WT/TPR/S/412 • Argentina  
 
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  1.3.2   Trade in services  
1.70.  As has traditionally been the case, Argentina 's trade in services shows  a deficit, which peaked 
at USD -9,695 million in 2017, before decreas ing slightly in 2018, and then more rapidly in 2019, 
and particularly in 2020, when the effects of the COVID -19 pandemic were felt strongly, especially 
in the travel, transport, and hotel and restaurant services. As a result, the deficit shrank  to 
USD 2,367 million in 2020 (Table 1.6).  
Table 1. 6 Trade in services, 2012 -20 
(USD million)   
2012  2013  2014  2015  2016  2017  2018  2019  2020  
Trade in services balance  -4,097  -5,329  -4,641  -5,815  -8,452  -9,695  -8,965  -5,215  -2,367  
Services revenue  14,247  13,680  13,396  13,214  13,425  15,506  15,274  14,134  9,403  
Manufacturing services on 
physical inputs owned by 
others (SMIF)  4  3  5  3  2  6  2  2  0  
Maintenance and repairs  143  127  110  101  96  92  129  117  88  
Transport  2,304  2,511  2,456  2,330  2,022  1,927  1,869  1,852  1,258  
 Passengers  651  674  685  514  499  460  436  413  87  
 Freight  504  505  420  324  290  289  313  298  300  
 Other  1,116  1,297  1,334  1,470  1,206  1,148  1,081  1,119  855  
 Postal and courier services  33  35  17  21  27  30  38  22  16  
Travel  5,014  4,525  4,960  4,927  4,967  5,370  5,563  5,241  1,616  
Construction  14  2  3  9  2  4  1  1  0  
Insurance services and 
pensions  25  25  27  25  37  41  42  38  36  
Financial services  101  81  60  57  91  141  194  186  169  
Charges for the use of 
intellectual property  158  180  174  162  169  356  330  272  214  
Telecommunications, 
information technology and 
information services (STII)  1,754  1,730  1,443  1,473  1,634  2,228  2,248  1,979  1,816  
Other business services  4,260  4,058  3,740  3,688  3,966  4,648  4,171  3,800  3,691  
Personal, cultural and 
recreational services  270 245 211  229  257  461  508  456  349  
Government goods and 
services  199 193  207  208  182  232  217  192  166  
Outlays on services  18,344  19,009  18,038  19,029  21,876  25,202  24,239  19,349  11,770  
Manufacturing services on 
physical inputs owned by 
others (SMIF)  3  14  38  29  6  6  14  3  2  
Maintenance and repairs  159  228  151  165  275  311  294  335  268  
Transport  4,705  5,046  4,164  4,485  4,561  5,179  4,913  3,871  2,100  
 Passengers  2,349  2,489  1,854  2,366  2,594  2,802  2,414  1,976  407  
 Freight  2,180  2,372  2,119  1,923  1,746  2,197  2,339  1,751  1,604  
 Other  133  139  141  151  171  134  114  102  51  
 Postal and courier services  43  47  50  45  50  45  46  41  39  
Travel  6,117  5,932  5,983  6,982  9,679  11,378  10,670  7,850  2,346  
Construction  16  11  10  15  8  12  18  11  8  
Insurance services and 
pensions  532  507  458  428  345  377  376  318  304  
Financial services  113  105  345  335  297  277  434  269  175  
Charges for the use of 
intellectual property  2,217  2,329  2,099  2,178  2,108  2,350  2,030  1,714  1,260  
Telecommunications, 
information technology and 
information services (STII)  1,065  1,205  1,252  1,089  1,100  1,378  1,387  1,316  1,666  
Other business services  2,631  2,871  2,713  2,612  2,653  2,890  3,080  2,757  2,803  
Personal, cultural and 
recreational services  362  377  417  383  594  807  798  708  673  
Government goods and 
services  423  383  409  328  251  237  225  198  166  
Source:  INDEC.  
1.71.  Argentina has a deficit in almost all branches of its trade in services, with the exception of 
telecommunications, information technology and information services, which were in surplus 
throughout the review period. The most important sectors traditionally, in terms of both revenue 
and outlays, were the travel and transport sectors, with the exception of 2020. Another important 
sector was business services, which was the activity least affected by the disruption caused by the 
pandemic, largely due to the implementation, in many cases, of teleworking.  WT/TPR/S/412 • Argentina  
 
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 1.3.3   Trends and patterns in foreign direct investment (FDI)  
1.72.  Argentina continues to be a net recipient of FDI. Between 2012 and 2020, the international 
investment position grew by more than 100%, and stood at USD 122,482 in the fourth quarter of 
2020.  
Table 1. 7 International investment position by functional category, at market value 
2012 -20(Q2) 
(USD million)   
2012  2013  2014  2015  2016  2017  2018  2019  2020 (Q2) 
Net international investment 
position  57,880  61,196  54,837  56,487  48,048  17,332  65,303  114,823  120,894  
          
Assets  263,988  261,634  268,009  271,766  291,754  337,123  377,256  398,827  391,768  
 Direct investment  32,919  34,517  36,180  37,843  39,735  40,930  42,228  42,671  40,091  
 Capital shares and reinvested 
profits  32,919  34,517  36,180  37,843  39,735  40,930  42,228  42,671  40,091  
 Portfolio investment  33,185  39,485  41,671  41,172  44,031  59,405  60,784  69,294  62,723  
 Capital and investment fund 
shares  20,420  25,983  28,170  26,851  29,654  38,806  33,370  39,500  34,809  
 Debt securities  12,766  13,502  13,501  14,322  14,377  20,599  27,414  29,794  27,914  
 Financial derivatives  -  -  -  -  -  -  -  -  -  
 Other investment  154,593  157,032  158,751  167,188  168,679  181,733  208,458  242,013  245,713  
 Other equity  2,547  2,569  2,656  2,752  2,905  2,806  3,074  3,223  3,250  
 Currency and deposits  139,055  140,111  144,174  153,309  155,318  168,375  195,241  226,572  230,034  
 Loans  8,230  7,997  8,030  7,207  7,746  7,843  7,433  9,510  9,719  
 Trade credit and advances  4,761  6,355  3,891  3,919  2,709  2,709  2,709  2,709  2,709  
 Reserve assets  43,290  30,600  31,408  25,563  39,308  55,055  65,786  44,848  43,241  
 Monetary gold  3,326  2,389  2,355  2,107  2,102  2,299  2,256  2,684  3,533  
 Special drawing rights  3,156  3,162  2,975  2,845  2,401  2,545  4,360  2,605  1,865  
 Reserve position in the IMF  0  0  0  0  360  382  373  371  368  
 Other reserve assets  36,808  25,048  26,078  20,611  34,445  49,830  58,797  39,188  37,475  
 Currency and deposits  35,685  23,923  25,073  20,421  29,528  39,614  50,734  36,467  35,759  
 Securities  932  908  865  -  3,890  10,278  6,822  1,218  1,708  
Financial derivatives  -  -  -  -  319  -278  -  -  -  
 Other claims  191  217  139  190  708  215  1,241  1,503  8            
Liabilities  206,108  200,438  213,172  215,279  243,706  319,791  311,953  284,004  270,875  
 Direct investment  98,706  88,338  89,716  79,773  74,868  80,700  72,573  70,458  74,866  
 Capital shares and reinvested 
profits  72,175  60,926  63,483  52,841  53,323  56,906  48,838  47,525  52,028  
 Debt instruments  26,530  27,412  26,233  26,932  21,545  23,794  23,735  22,933  22,838  
 Portfolio investment  39,537  45,984  58,248  59,461  100,184  156,535  113,160  71,821  55,700  
 Capital and investment fund 
shares  3,574  5,319  9,670  9,353  10,134  25,767  10,937  7,656  4,052  
 Debt securities  35,963  40,665  48,578  50,108  90,049  130,768  102,223  64,165  51,649  
 Financial derivatives  2,687  3,589  2,771  3,592  2,981  3,451  1,299  554  159  
 Other investment  65,178  62,528  62,436  72,453  65,672  79,105  124,921  141,171  140,150  
 Currency and deposits  445  169  121  133  219  678  752  1,132  882  
 Loans  43,615  40,557  42,213  51,055  47,885  56,675  96,689  108,777  109,370  
 Trade credit and advances  18,055  18,908  17,410  18,630  15,085  18,821  24,337  28,431  27,136  
 Other accounts receivable  462  295  247  296  214  528  797  497  441  
 Special drawing rights  2,601  2,598  2,445  2,338  2,268  2,403  2,347  2,333  2,321  
Source:  INDEC, National Directorate for International Accounts  
1.73.  Argentina ceased to produce foreign investment series by sector and trading partner in 2016. 
During the review period, until 2016, the last year for which information is available, the 
manufacturing sector absorbed the largest proportion of net FDI flows, in particular the food products 
subsector, and the automotive and chemical industries. There were also major FDI flows in the 
mining and services sector, particularly wholesale and retail trade, telecommunications and financial 
services, the construction s ector and some services activities, such as transport. As at 2016, the last 
year for which information is available, the main investors in Argentina were: 
the United  States  of America, Spain, the Netherlands, Chile, Brazil, Germany, Uruguay, Switzerland 
and France .WT/TPR/S/412 • Argentina  
 
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  2  TRADE AND INVESTMENT REGIMES  
2.1  Overview  
2.1.  Argentina is a federal republic, which, in addition to the federal government, comprises 
23 provincial governments  and the government of the Autonomous City of Buenos Aires  (CABA) . 
2.2.  The Constitution of the Arg entine Nation establishes the division of State powers.1 Legislative 
power lies with the National Congress, comprising a Chamber of Deputies (257 deputies) 
and the Senate (72 senators).2 Deputies are elected for four years, and senators for six. Every two 
years, half of the seats in the Chamber of Deputies  and a third in the Senate  are up for election.  
Deputies and senators may be re -elected indefinitely.  
2.3.  The Executive is composed of  the President (and Vice -President) of the Nation, the Chief of the 
Cabinet and the ministers. The President, who is the head of State, is elected by universa l suffrage 
every four years, and may be re -elected for one more consecutive  term. During the review period, 
there were frequent changes in the number, name and functions of the ministries (Table  2.1). 
Table 2.1 Ministries, 2013 -21 
Necessity 
and Urgency 
Decree No.  Ministries  
641/2014  1) Ministry of the Interior and Transport; 2) Ministry of Foreign Affairs  and Worship; 
3) Ministry of Defence; 4) Ministry of the Economy and Public Finance; 5) Ministry of 
Indust ry; 6) Ministry of Agriculture, Livestock and Fisheries; 7) Ministry of Tourism; 
8) Ministry of Federal Planning, Public Investment and Services; 9) Ministry of Justice and 
Human Rights; 10) Ministry of Security; 11) Ministry of Labour, Employment and Soci al 
Security; 12) Ministry of Social Development; 13) Ministry of Health; 14) Ministry of 
Education; 15) Ministry of Science, Technology and Productive Innovation; 16) Ministry of 
Culture  
13/2015  1) Ministry of the Interior, Public Works and Housing; 2) Ministry of Foreign Affairs  and 
Worship; 3) Ministry of Defence; 4)  Ministry of the Economy and Public Finance ; 
5) Ministry of Production; 6)  Ministry of Agro -Industry; 7) Ministry of Tourism; 8)  Ministry 
of Transport; 9) Ministry of Justice and Human Rights; 10) Ministry of Security; 
11) Ministry of Labour, Employment and Social Security; 12)  Ministry of Social 
Development; 13) Ministry of Health; 14) Ministry of Education and Sport; 15) Ministry o f 
Science, Technology and Productive Innovation; 16)  Ministry of Culture; 17) Ministry of the 
Environment and Sustainable Development; 18) Ministry of Modernization; 19) Ministry of 
Energy and Mining; 20)  Ministry of Communications  
2/2017  1) Ministry of t he Interior, Public Works and Housing; 2) Ministry of Foreign Affairs  and 
Worship; 3) Ministry of Defence; 4)  Ministry of the Economy; 5)  Ministry of Finance; 
6) Ministry of Production; 7) Ministry of Agro -Industry; 8) Ministry of Tourism; 9)  Ministry 
of Transport; 10)  Ministry of Justice and Human Rights; 11)  Ministry of Security; 12) 
Ministry of Labour, Employment and Social Security; 13) Ministry of Social Development; 
14) Ministry of Health; 15) Ministry of Education and Sport ; 16) Ministry of Science, 
Technology and Productive Innovation; 17) Ministry of Culture; 18)  Ministry of the 
Environment and Sustainable Development; 19)  Ministry of Modernization; 20) Ministry of 
Energy and Mining; 21)  Ministry of Communications  
513/2017  1) Ministry of the Interi or, Public Works and Housing; 2) Ministry of Foreign Affairs  and 
Worship; 3) Ministry of Defence; 4)  Ministry of the Economy; 5)  Ministry of Finance; 
6) Ministry of Production; 7) Ministry of Agro -Industry; 8) Ministry of Tourism; 9)  Ministry 
of Transport;  10) Ministry of Justice and Human Rights; 11)  Ministry of Security; 
12) Ministry of Labour, Employment and Social Security; 13) Ministry of Social 
Development; 14)  Ministry of Health; 15) Ministry of Education; 16) Ministry of Science, 
Technology and Prod uctive Innovation; 17) Ministry of Culture; 18)  Ministry of the 
Environment and Sustainable Development; 19)  Ministry of Modernization; 20) Ministry of 
Energy and Mining  
 
1 The Constitution was promulgated in 1853 and last amended in 1994. To amend the Constitution, 
Congress must issue a law (“declaratory law”), indicating the need for the reform and the constitutional 
provisions to be  reformed.  
2 The most populous provinces have a greater number of deputies. Each province and the Autonomous 
City of Buenos Aires are represented by three senators in the Senate (National Congress). Viewed at: 
https://www.argentina.gob.ar/ww.congreso.gob.ar/poderLegislativo.php . WT/TPR/S/412 • Argentina  
 
- 47 - 
 
  Necessity 
and Urgency 
Decree No.  Ministries  
575/2018  1) Ministry of the Interior, Public Works and Housing; 2) Ministry of Foreig n Affairs  and 
Worship; 3) Ministry of Defence; 4)  Ministry of Finance; 5)  Ministry of Production; 
6) Ministry of Agro -Industry; 7) Ministry of Tourism; 8) Ministry of Transport; 9) Ministry 
of Justice and Human Rights; 10)  Ministry of Security; 11) Ministry of Labour, Employment 
and Social Security; 12)  Ministry of Social Development; 13) Ministry of Health; 
14)Ministry of Education; 15) Ministry of Science, Technology and Productive Innovation; 
16) Ministry of Culture; 17) Ministry of the Enviro nment and Sustainable Development; 
18) Ministry of Modernization; 19)  Ministry of Energy  
801/2018  1) Ministry of the Interior, Public Works and Housing; 2) Ministry of Foreign Affairs  and 
Worship; 3) Ministry of Defence; 4)  Ministry of Finance; 5)  Ministry of Production and 
Labour; 6) Ministry of Transport; 7)  Ministry of Justice and Human Rights; 8)  Ministry of 
Security; 9) Ministry of Health and Social Development; 10) Ministry of Ed ucation, Culture, 
Science and Technology  
7/2019  1) Ministry of the Interior; 2) Ministry of Foreign Affairs , International Trade and Worship; 
3) Ministry of Defence; 4)  Ministry of the Economy; 5)  Ministry of Productive Development; 
6) Ministry of Agricul ture, Livestock and Fisheries; 7)  Ministry of Transport; 8) Ministry of 
Public Works; 9)  Ministry of Justice and Human Rights; 10) Ministry of Security; 
11) Ministry of Health; 12)  Ministry of Social Development; 13) Ministry of Women, Gender 
and Diversity ; 14) Ministry of Education; 15) Ministry of Culture; 16)  Ministry of Science, 
Technology and Innovation; 17)  Ministry of Labour, Employment and Social Security; 
18) Ministry of the Environment and Social Security; 19) Ministry of Tourism and Sport; 
20) Ministry of Territorial Development and Habitat  
Source:  Amendments to the Law on Ministries (Law No. 22.520 of 18 December 1981).  
2.4.  The Judiciary is composed of the Supreme Court of Justice  of the Nation, the National Judiciary 
Council, the courts of first in stance and the courts  of appeals. Federal judges cannot practice in 
provincial courts.3 
2.5.  The provinces , like the Autonomous City of Buenos Aires , are autonomous. The provinces have 
their own constitution s and their own branches of government: the executive  branch (the governor 
or head of government); the legislative branch (which may be organized as a unicameral or a 
bicameral system); and the judicial branch (the high court is the highest judicial authority). These 
branches may pass their own laws and crea te their own institutions. The decisions of a provincial 
executive branch (“government acts") and the judicial proceedings of a province are valid in the 
other provinces.4 
2.6.  The provinces have control over the natural resources located within their territor y. They also 
have the authority to create regions for social and economic development and to conclude 
international agreements, insofar as they are not inconsistent with the country’s foreign policy, do 
not infringe upon the powers delegated to the federal  government or affect the public credit of the 
nation. They may also conclude partial treaties for the administration of, inter alia , economic 
interests and works of mutual benefit. The provinces cannot exercise the power delegated to the 
nation. In this r egard, they cannot: conclude partial political treaties; issue laws on trade or shipping , 
whether domestic  or foreign ; establish provincial customs  operations ; mint money; or establish 
banks with the power to issue notes.5 
2.7.  Argentina has a federal revenue (tax) sharing regime.6 Certain taxes are distributed among: 
the federal government, which receives 42.34% of the total collected; the provinces, which receive 
56.66%; and the National Treasury Fund for Contributions to the Provinces, for use in the event  of 
an emergency and financial instability, to which 1% is allocated. Currently, 10 taxes form part of 
the revenue sharing regime (Table 2.2). Import and export duties are not part of the regime. They 
 
3 Article 34 of the Constitution of the Argentine Nation and the Ministry of Justice and Human Rights. 
Viewed at: http://www.jus.gob.ar/la -justicia -argentina/administracion -de-justicia.aspx .  
4 Article 7 of the Constitution; Ministry of Justice and Human Rights (2017), Constitución argentina en 
lectura fácil . Viewed at: https://www.argentina.gob.ar/sites/default/files/constitucion -argentina_lectura -
facil_0.pdf . 
5 Articles 124 -127 of the Constitution.  
6 Article 75(2) of the Constitution; Law No. 25.570 of 10 April 2002; and Law No. 23.548 of 
7 January  1988.  WT/TPR/S/412 • Argentina  
 
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  are federal taxes. Revenue from s ome specific  taxes is distributed among the federal government, 
the provinces, and national funds or agencies.  
Table 2. 2 Distribution  of tax  revenu es, 2013 -2021  
“Shared” taxes  Taxes for a specific purpose   
Income  tax Statistical fee  
Value added tax  Tax on bank account credits and debits and other 
transactions  
Excise dutiesa Excise dutyb 
Tax on property transfer s by natural persons and 
undivided estates  Electricity tax  
Emergency levy on winnings from certain games of 
chance and sporting contests  Surcharge on the price of natural gas  
Tax on the capital of cooperatives  Tax on personal property  
Presumed minimum profits taxc Tax on recorded videograms  
Specific tax on betting activities  Tax on cinema tickets  
Indirect tax on onlin e betting activities  Special Tobacco Fund  
Special tax on the capital of savings , credit and/or 
financing, insurance and/or reinsurance cooperatives 
and unionsd  Tax on international airline tickets  
Carbon dioxide taxd, e  Additional emergency tax on ciga rettes  
 Simplified regime for small taxpayers ("single tax 
system taxpayers")  
 Tax on liquid fuels and carbon dioxide   
 Tax on audiovisual communications services  
 Tax for an Inclusive and Supportive Argentina  
(PAIS)d  
a Taxes: tobacco; alcoholic beverages; beers; non -alcoholic beverages; syrups, extracts, and 
concentrates; luxury goods; motor vehicles and engines; pleasure boats; aircraft; electronic 
products; and cellular and satellite telephony services.  
b Taxes insurance.  
c Repealed i n 2019.  
d Introduced in 2019.  
e Taxes fuel oil, petroleum coke and coal.  
Source:  Ministry of Finance. Viewed at:  
Https://www.argentina.gob.ar/sites/default/files/destino_de_los_impuestos_al_31 -03-2020.pdf ; and 
information provided by the authorities.  
2.8.  The Constitu tion is the supreme law, followed by international treaties; laws, delegated decrees 
and necessity and urgency decrees; decrees; administrative decisions; resolutions; and orders . 
International human rights treaties have the same standing as the Constituti on. 
2.9.  Deputies and senators, the Executive and citizens may table bills. Bills tabled by citizens must 
be supported by at least 3% of registered voters, and "adequate territorial distribution" among the 
citizens participating in the initiative must also be ensured. However, citizens may not table bills to 
reform the Constitution or international treaties, or to regulate fiscal, budgetary or criminal matters.7 
Only deputies may table bills on taxes or the recruitment of troops.8 
2.10.  Bills may be tabled in either  of the two chambers of the National Congress, with the exception 
of bills tabled by citizens, which must be debated first in the Chamber of Deputies, and bills on the 
federal tax revenue sharing regime, which are debated first in the Senate (Box 2.1). The  chamber 
in which the bill is tabled becomes the originating chamber and the other becomes the review 
chamber.9 Any bill may be submitted to public consultation and, if approved, will become law and 
will be automatically enacted.10 The authorities indicat ed that public consultations were not held 
during the review period.  
 
7 Article 39 of the Constitution.  
8 Article 52 of the Constitution.  
9 Articles 39 and 72 of the Constitution.  
10 Article 40 of the Constitution and Law  No. 25.432 of 23 May 2001.  WT/TPR/S/412 • Argentina  
 
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  Box 2. 1 Procedure for the drafting and passing of laws  
Legislative Branch  
Originating 
chamber  Review chamber  Result  
Rejects the bill   - The bill is archived.  
Approves the 
bill  Rejects the bill   The bill is archived.  
Approves the 
bill  Approves the bill   The bill is referred to the Executive.  
Approves the 
bill The bill is amended 
by an absolute or 
qualified (two -
thirds) majority of 
votes. The bill is returned to the originating chamber, which may not reject 
or amend it.  
Three situations are possible:  
(1) The originating chamber accepts the amendments, the bill 
approved in the review chamber is passed and is referred to the 
Executive.  
(2) The originating chamber insists on maintaining the original 
text, which is approved in the review chamber by a major ity equal 
to that obtained in the originating chamber, the originating 
chamber passes the bill and refers it to the Executive.  
(3) The originating chamber insists on the original text, but does 
not obtain the same majority in the review chamber, the bill 
approved in the review chamber is passed and is referred to the 
Executive.  
The Executive  
The Executive promulgates the law and orders its publication in the Official Journal.  
The Executive rejects (totally or partially) the bill. It is returned to the or iginating chamber.  If the bill receives 
two thirds of votes in both the originating and review chamber s (qualified majority), the chambers may insist 
on the original text and the law is promulgated. Otherwise, the veto is maintained or rejected.  
Source:  Articles 78 -84 of the Constitution; and the National Congress. Viewed at: 
https://www.congreso.gob.ar/leyes.php  and https://www.el -libro.org.ar/wp -
content/uploads/2017/04/formacion -de-leyes-ultimo.pdf . 
2.11.  In exceptional cases, the Constitution permits the Executive to issue necessity and urgency 
decrees  (DNUs)  which have the force of law (Table 2.3). Since 2013, the Executive has issued several 
DNUs  to adopt trade and trade -related measures, some of which were intended to mitigate the 
effects of the pandemic (Table 2.4).  
Table 2. 3 Legislative powers of the Executive  
 DNU Delegated decree  
Rationale /reason  In exceptional cases, when the procedure 
established in the Constitution for drafting 
and passing laws  cannot be followed.  A “delegating” law is issued, which 
establishes the time -limit and 
guidelines in accordance with which 
the Executive may act.  
Approved by  The President, Chief of the Cabinet and all 
ministers  The President and the Chief of the Cabinet  
Regulate  Any issue, except criminal, taxation or 
electoral matters or arrangements 
governing political parties  Public administration mattersa and any 
issue concerning a public emergency  
Procedure  The Chief of the Cabinet sends the decree to the Joint Standing Committee on Legislative 
Procedure of the National Congress, whic h has 10 working days to rule on the validity of 
the decree and send the ruling  to the plenary of each chamber.  
The chambers must expressly approve or reject the decree. They cannot amend it. If 
both chambers reject it, the decree is repealed. However, if one of the chambers rejects 
it but the other does not, the decree is maintained. The Constitution does not estab lish a 
time-limit for the chambers to rule on the decree.  
a Public administration matters are defined in Article 2 of Law No 25.148 of 11 August 1999.  
Source:  Articles 76 and 99(3) of the Constitution; Law No. 26.122 of 20 July 2006; Ministry of Justice and 
Human Rights.  Viewed at: https://www.argentina.gob.ar/justicia/derechofacil/leysimple/decretos ; 
and information provided by the authorities.   WT/TPR/S/412 • Argentina  
 
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  Table 2. 4 Necessity and urgency decrees related to trade, 2013 -21  
Field  Number/date  Description  
Agriculture  516/2013  Creates a trust fund to promote wheat production  
Transport  566/2013  Creates a state -owned railway freight transport 
enterprise  
Incentives  606/2014  Creates the Argentine Economic Development Fund 
(FONDEAR) to facilitate access to financing for 
projects in strategic sectors, the implementation of 
activities with technological content and the 
generation of greater value added in regional 
economies  
Exports  2.229/2015  Re-establishes for a period of five years the 
supplementary refund on exports established in Law 
No. 23.018 of 1983, maint aining the benefit  levels 
applicable since 1 January 1984 for all ports and 
customs offices located in the area south of the 
Colorado River  
Telecommunications  267/2015  Creates the National Entity for Communications  
Energy  882/2016  Allocates resources to the National Development 
Programme for the Use of Renewable Energy 
Sources for Electricity Production  
Exports  1.199/2016  Eliminates the supplementary refund on exports  
Imports  51/2017  Creates a transitional regime which authorizes  the 
Customs Service to turn over  certain  goods  without 
a customs destination to the Ministry of Social 
Development , to be used in accordance with the 
needs of certain sectors of the population  
Administrative 
procedures  27/2018  Streamlines  and simplifies administrative procedures  
Bankin g services  95/2018  Amends the Charter of the Nation al Bank of 
Argentin a 
Competence  274/2019  Ensures transparency in trade relations and access 
to essential information on products and services 
marketed through physical or digital channels  
Energy  465/2019  Issues a public tender call (national and 
international) for the design and construction of a 
gas pipeline  
Energy  566/2019  Freezes the price of fuel for a period of 90 days  
Monetary policy  609/2019  Establishes foreign exchange controls  
Incentives  157/2020  Creates the National Agency for the Promotion of 
Research, Technological Development and 
Innovation  
Public services  311/2020  Prohibits the suspension of services for 
non-payment  
Banking services  319/2020  Freezes mortgage loan repayments  
Banking services  312/2020  Suspends the closure of bank accounts  
Incentives  326/2020  Establishes the Specific Allocation Fund for MSMEs  
Incentives  332/2020  Creates the Emergency Assistance Programme for 
Work and Production  
Energy  543/2020  Freezes gas and electricity rates  
Telecommunications  690/2020  Freezes telephone and Internet rates until 
31 December 2020  
Banking services  767/2020  Extends the freezing of mortgage loan repayments  
Energy  892/2020  Creates the Argentine Natural Gas Production 
Promotion Plan - Supply and Demand 2020 -24 
Government 
procurement  946/2020  Amends the procurement regime of the Argentine 
National Government  
Investment regime  234/2021  Creates the Investment Promotion Regime for 
Exports  
Source:  National Directorate of the Argentine Legal Information System, (SAIJ) Viewed at: 
http://www.saij.gob.ar/buscador/dnu . 
2.12.  International treaties are signed by the President and are approved by Congress. Approval 
requires an absolute majority of the legislators.  WT/TPR/S/412 • Argentina  
 
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  2.2  Trade policy formulation and objectives  
2.13.  Trade policy is formulated and implemented mainly by the Ministry of Foreign Affairs , 
International  Trade and Worship , the Ministry of Productive Development , and the Ministry of 
Agriculture, Livestock and Fisheries (Table 2.5). The Ministry of Foreign Affairs, International Trade 
and Worship  is responsible for promoting Argentina's participation in int ernational trade, which 
includes the negotiation of trade agreements. The Ministry of Productive Development fosters the 
development of exports. The Ministry of Agriculture, Livestock and Fisheries is involved  in the 
formulation of trade policy in order to  improve market access conditions for agricultural products . 
Table 2. 5 Main ministries responsible for formulating and implementing trade policy  
Ministry of Foreign Affairs , International Trade and Worship  
Secretariat for 
International 
Economic Relations  The Under -Secretariat for MERCOSUR and International Economic Negotiations 
promotes regional integration and participates in the negotiation of reciprocal 
investment promotion and protection agreements.  
The Under -Secretariat for Investment Development and Trade Promotion fosters 
foreign investment and exports.  
The Under -Secretariat for Multilateral and Bilateral Economic Negotiations promotes 
bilateral economic relations outside the region and participates in multilateral 
economic negotiations.  
The Directorate for the Settlement of International Economic Disputes intervenes in 
international dispute settlement proce sses. 
Ministry of Productive Development  
Secretariat for 
Industry, the 
Knowledge 
Economy and 
Foreign Trade 
Management  The Under -Secretariat for Trade Policy and Management develops, coordinates and 
implements export promotion instruments ; participates in trade negotiations;  and 
propose s regulatory changes related to the custo ms nomenclature, import regimes 
and tariffs.  
The National Commission on Foreign Trade carries o ut investigations on dumping, 
subsidies and safeguards, for the implementation of corrective trade measures.  
Ministry of Agriculture, Livestock and Fisheries  
Under -Secretariat 
for Policy 
Coordination  The National Directorate of International Relations participate s in trade negotiations 
and develops policies to improve Argentina's integration into external markets.  
Source:  Administrative Decisions No. 70/2020, No. 1.080/2020 and No. 1.441/2020, and information 
provided by the authorities.  
2.14.  The provinces also participate in the formulation of trade policy on relevant matters. In 2016, 
the Federal Council for Foreign Trade was created to discuss matters concerning both the federal 
government and the provincial governments, such as  trade liberalization and trade facilitation.11 This 
Council was replaced in 2020 by the Federal Council for Foreign Affairs  and International Trade, 
which outlines strategies for the promotion of exports and the integration of the provinces in 
internation al trade.12 The private sector  is also involved  in policy making,  taking part in preparatory 
roundtables for trade negotiations. In 2020, the Ministry of Foreign Affairs, International Trade and 
Worship  created the Public -Private Council for the Promotio n of Exports , with the aim of increasing 
cooperation with trade unions.13 
2.15.  In 2016, the Ministry of Foreign Affairs, International Trade and Worship  created the Argentine 
Investment and International Trade Agency (AAICI), which is a new body for the promotion of 
exports and investment that replaces  the Under -Secretariat for Investment Development and Trade 
Promotion and the ExportAr Foundation. The AA ICI advises companies  on the internationalization  
process, and promotes Argentina as an investment destination. The Ministry of Foreign Affairs, 
International Trade and Worship  also manages the Argentina Trade Net  portal, through which 
information on inter national markets is provided.  
2.16.  In 2019, the National Committee on Trade Facilitation was created, which is a public -private 
body that reports to the Office of the Chief of Cabinet, in order to implement the WTO Trade 
 
11 During the review period, the Council was convened on two occasions ( in 2016 and 2018).  
12 Information provided by the authorities.  
13 Resolution No. 136/2020 of the Ministry of Foreign Affairs , International Trade and Worship  of 
29 June 2020, and the Ministry of Foreign Affairs , International Trade and Worship. Viewed at: 
https://www.cancilleria.gob.ar/es/destacados/sola -presidio -el-lanzamiento -del-consejo -publico -privado -para-
la-promocion -de. WT/TPR/S/412 • Argentina  
 
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  Facilitation Agreement.14 However, in 20 21, the Committee was still not operational, as its internal 
regulations had not yet been developed.15 
2.17.  Since 2013, the aim of Argentina’s trade policy has been to boost the country’s participation 
in international trade by diversif ying and boosting  exports , and integrati ng SMEs into export activity 
and global value chains. It is hoped that this will increase competitiveness and productivity at the 
federal level, and will create  more jobs, more revenue and greater social inclusion.16 As part of its 
internati onalization strategy, Argentina considers that it is necessary to ensure  greater inclusion of 
women, as achieving gender equality is fundamental for development and growth.17 Argentina's 
trade policy is implemented at both the multilateral and regional level.  
2.18.  During the review period, in order to advance  exports, Argentina adopted measures to, inter 
alia, facilitate trade, increase financing, promote exports of better -quality goods and services a nd 
improve the support provided to enterprises (Table 2.6).  
Table 2. 6 Scope of trade policy, 2013 -21 
Areas  Some of the measures implemented  
Trade 
facilitation  Implementation of the Single Window for Foreign Trade (VUCE) and the Single Window for 
Argentine Foreign Trade (VUCEA)  
Introduction of a new export regime “ Exporta Simple ”  
Introduction of digital certificates of origin (in some cases)  
Increase in the maximum value that can be imported through courier/parcel services (from 
USD 1,000 to USD 3,000) ; the maximum value for exports (USD 1,000)  remains the same  
Financing  Between 2018 and 2019, the introduction of the credit line “ Argentina Exporta ” for the 
pre-financing of export activities. The conditions of the loans were: (a) a term of 365 days; 
(b) a maximum amount of USD 200,000; and (c) a subsid ized interest rate. Nineteen  
public and private banks  participated  
Quality  Accreditation of new laboratories  
Financing for laboratories  
Support for 
enterprises  Trade promotion activities for SMEs and women  stepped up  
Federal Export Development Plan for SMEs  implemented  
Source:  WTO Secretariat.  
2.19.  Argentina continues to actively use trade policy measures as an instrument to achieve 
objectives in areas that go beyond just trade. This includes both long -term (growth and economic 
development) and short -term objectives (increase tax revenues , contain in flation or maintain the 
balance -of-payments equilibrium). For example, Argentina continues to use export duties, one of its 
main sources of fiscal revenue, to achieve tax receipt  objectives. Argentina also has a series of 
export registers . Regarding import s, registers  continue to be used and non -automatic import licences 
have been re -introduced, which are policies that could have an impact on the availability and cost 
of imported products. Furthermore, trade and trade -related measures are frequently amended  as 
circumstances require. While this may result in a quicker response to changes, it can also  create 
further complexity in the trade regime.  
2.3  Trade agreements and arrangements  
2.3.1   WTO  
2.20.  Argentina, a founding Member of the WTO, grants at least most -favoured -nation (MFN)  status  
to all its trad ing partners.  
2.21.  Argentina has reaffirmed its support for the WTO and the multilateral trading system  on 
various occasions . Buenos Aires hosted the 11th Ministerial Conference in 2017. Argentina considers 
 
14 Decree No. 535/2019.  
15 Information provided by the authorities.  
16 The Ministry of Foreign Affairs, International Trade and Worship . Viewed at: 
https://www.cancilleria.gob.ar/es/politica -exterior/apertura -de-mercados -negociaciones -internacionales  and 
the Ministry of Production and Labour. Viewed at: 
https://www.produccion.gob.ar/comunicados/2018/02/28/insercion -desarrollo -y-reduccion -de-pobreza -68964 .  
17 Ministry of Production and Labour (2019), Informe de Gestión: Resumen 2015 -2019. 
https://www.argentina.gob.ar/sites/default/files/ministerio_de_produccion_y_trabajo_ -
_informe_de_gestion_2015 -2019.pdf . WT/TPR/S/412 • Argentina  
 
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  it important for the WTO to resume “its central role” in international trade and for there to be  a 
rules-based, open and equitable multilateral trading system that contributes to inclusive 
development. A rgentina is in favour of stepping up efforts to correct trade practices that cause 
restrictions and distortions in the agricultural and fisheries sector.18 It also supports the discussion 
of new trade issues. As such, it participates in joint initiatives o n e-commerce, the integration of 
MSMEs in international trade, investment facilitation and services domestic regulation.19 Argentina 
also participates in several negotiating groups : it is a State Party to MERCOSUR  and a member of  
the Cairns Group, the G20, NAMA  11 and the Friends of Fish group, as well as  a co-sponsor of the 
Joint Proposal in intellectual property.  
2.22.  In 2018, Argentina ratified and accepted the Protocol concerning the WTO Trade Facilitation 
Agreement (TFA).20 Argent ina notified the WTO that it would implement the provisions of the 
Agreement according to the schedul e for categories A and B.21 In February 2021, it had already 
implemented 97.5% of the TFA provisions. The rest will be implemented gradually until 2023.22 
2.23.  Argentina is an observer in the Committees on the Government Procurement Agreement 
(GPA)  and the Agreement on Trade in Civil Aircraft. Argentina accepted the Protocol amending the 
Agreement on Trade -Related Aspects of Intellectual Property Rights (TRIPS) a nd the Fourth Protocol 
on Telecommunications annexed to the General Agreement on Trade in Services.23 Argentina is not 
a signatory to the Information Technology Agreement  nor is it  participat ing in the negotiations on 
the Environmental Goods Agreement. Arg entina’s trade policies have been reviewed five times , the 
last time being  in 2013.  
2.24.  Throughout the review period, Argentina submitted  a considerable  number of notifications 
under various WTO Agreements (Table A2.1).  
2.25.  Between 2013 and 2021, Argentina partici pated in three disputes as a complainant (Table  2.7) 
and in 19 disputes as a third party. During this period, Argentina’s trade measures have not been 
the subject of any disputes.  
Table 2. 7 Disputes filed by Argentina since 201 3  
Member: measures challenged (WTO document)  Current situation ( as at 1 May 2021)  
EU: Certain Measures on the Importation and Marketing of 
Biodiesel and Measures Supporting the Biodiesel Industry 
(DS459)  15 May 2013: Consultations stage  
EU: Anti -Dumping Measures on Biodiesel from Argentina 
(DS473)  26 December 2016: Report(s) adopted, 
with recommendation to bring measure(s) 
into conformity  
Peru: Anti -dumping and countervailing measures on biodiesel 
from Argentina (DS572)  29 November 2018: Consultations stage  
Source:  WTO Secretariat.  
2.3.2   Regional and preferential agreements  
2.26.  Argentina is a founding member of Southern Common Market ( MERCOSUR ) and participates 
in various trade agreements as a MERCOSUR State Party and on an individual basis (Chart 2.1). 
Most of these agreements are partial scope economic c omplementa tion agreements ( ACEs) with 
States that are part of the Latin American Integration Association (LAIA).  
 
18 WTO documents WT/MIN(15)/ST/47 of  18 December 2015 and WT/MIN(17)/ST/6 of 13 December 
2017.  
19 WTO documents WT/MIN(17)/ST/58/Rev.1 of 20 December 2017; WT/MIN(17)/ST/59 of 
13 December  2017; WT/MIN(17)/ST/60 of 13 December 2017; and WT/MIN(17)/ST/61 of 13 December 2017.  
20 Law No. 27.373 o f 5 July 2017 and Decree No. 574/2017. Argentina’s instrument of acceptance was 
submitted to the WTO on 22 January 2018.  
21 WTO documents WT/PCTF/N/ARG/1  of 27 May 2016 and G/TFA/N/ARG/1 of 15 March 2017.  
22 TFA Database. Viewed at: https://www.tfadatabase.org/members/argentina . 
23 Argentina participated in the negotiations on the Fifth Protocol (financial services) to the General 
Agreement on Trade in Services, but is not among the  signatory as it did not undertake commitments.  WT/TPR/S/412 • Argentina  
 
- 54 - 
 
  Chart 2. 1 Trade agreements in force in Argentina in 2021  
 
Source:  WTO Secretariat.  
2.27.  The MERCOSUR  Trade  Commission ( CCM) is responsible for proposing, to the Common Market 
Group ( GMC), amendments to the Common External Tariff ( AEC), and for managing the different 
mechanisms which allow States Parties, on an exceptional basis, to apply a differ ent import duty to 
that established in the AEC for imports  from outside the bloc .24 One of these mechanisms is the 
temporary reduction of tariffs due to regional supply shortages, the provisions of which were 
amended in 2020 (Box 2.2) This mechanism may be  used for all types of products. The mechanism 
is applied to a limited number of tariff lines at a time (currently a maximum of 100) and covers a 
certain volume of the imported good, and only applies to the State Party requesting its use. Between 
2013 and 2021 (March), Argentina used this mechanism for products such as: fish; modified milk; 
nuts, in shell; chemical products; colouring matter; and paper and paperboard.25 
 
24 Inter-American Development Bank (IDB) (2019), Informe MERCOSUR: hacia un cambio necesario . 
Viewed at:  https://publications.iadb.org/es/informe -mercosur -hacia-un-cambio -necesario . 
25 Additional Protocols to AAP.CE No. 18.  
EgyptArgentina
Uruguay Brazil
Paraguay Israel
SACUMERCOSURIndia
CubaPeru
Plurinational
State of 
BoliviaMexico
Chile Panama
ColombiaEcuadorBolivarian
Republic of 
Venezuela  ACE No. 18WT/TPR/S/412 • Argentina  
 
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  Box 2. 2 Mechanism for the temporary reduction of tariffs due to regional supply 
shortages  
Since 2020, GMC Resolution No. 49/19 repealing GMC Resolution No. 08/08 has regulated the mechanism for 
the temporary reduction of tariffs due to regional supply shortages. The main amendments, resulting from 
the introduction of the new Resolution, were: (i) the increase in the number of tariff lines, from 45 to 100, for 
which a reduction may be requested; (ii) the possibility to reduce tariffs to 0% (currently the rate of th e 
reduced duty may be 0% or 2%, whereas previously, it could not be lower than 2%, with some exceptions); 
and (iii) the possibility to extend indefinitely the deadline for the tariff reduction (currently, the reduction may 
be applied for up to 360 days and  be renewed indefinitely, whereas previously, it could be applied for up to 
24 months and be renewed for 12 months.  
GMC Resolution No. 49/19 reiterates that, if the conditions for the tariff reduction persist, a definitive reduction 
of the tariff rate cou ld be considered.  
In the case of Argentina, in order to use this mechanism, producers (or trade unions) must submit an 
application to the Ministry of Productive Development, which is examined in consultation with producers, 
retailers  and, if necessary, wi th the relevant public bodies (for example the Directorate -General of Customs 
or the Ministry of Agriculture, Livestock and Fisheries). If there are no objections, the Ministry of Foreign 
Affairs, International Trade and Worship  is asked to submit the appl ication to the other States Parties.  
Since 2020, the States Parties have had 90 days to approve/reject applications  (previously there was no 
time-limit). If a State Party makes no objection, the application  is considered to be approved. Previously, each 
State Party had to make a formal decision.  
GMC Resolution No. 49/19, like GMC No. 08/08, allows, in exceptional cases, for requests for an expedited 
tariff reduction. In this case, the States Parties have 30 days to make a decision. If the request is appro ved, 
the tariff reduction is applied to only half the volume of the import requested and for half the time -limit 
requested. Since 2020, it has been possible to request an urgent tariff reduction for a maximum of 10 tariff 
lines (previously, the maximum was  5 tariff lines).  
The provisions (rate, time -limit and volume) regarding the tariff reduction are established by means of a 
directive by the MERCOSUR  Trade  Commission ( CCM). The time -limit for the incorporation into the national 
legislation of the benefic iary State Party may not exceed 60 days from the date of approval of the measure.  
Source:  WTO Secretariat and information provided by the authorities.  
2.28.  The States Parties may also request, for reasons of trade imbalances caused by the 
international economi c situation, a temporary increase of the tariff rate above that established in 
the Common External Tariff for imports  outside the bloc . This measure may be applied to a maximum 
of 100 tariff lines. The import duty rates established may not be higher than t he consolidated tariff 
for each MERCOSUR State Party in the WTO. Since 2013, Argentina has used this mechanism and 
temporarily increased the tariffs for certain tariff lines, in particular machinery and appliances, 
electrical equipment and other manufactur ed goods.26 
2.29.  CMC Decision No. 01/09 governing the rules of origin for intra-MERCOSUR trade, was 
incorporated into ACE No. 18 in 2015 (77th Additional Protocol). The rules of origin are in force until 
31 December 2023.27 Furthermore, during the review period, Argentina began to use digital 
certificates of origin. It has used them for trade with Brazil since 2017, with Uru guay since 2018 and 
with Paraguay since 2020.  
2.30.  With regard to trade, in 2017, the MERCOSUR States Parties signed the Intra -MERCOSUR 
Investment Cooperation and Facilitation Protocol ;28 in 2019 , the MERCOSUR Trade Facilitation 
Agreement  and the MERCOSUR Agreement on Mutual Recognition of Authorized Economic Operator s 
(AEO) ; and, in 2021, the MERCOSUR Agreement on E-Commerce.29 Moreover, since 2013, 
provisions on government procurement, digital signatures and geographical indications hav e been 
introduced in MERCOSUR.  New guidelines were also adopted to accelerate the development and 
review of MERCOSUR technical regulations. Regarding trade in services, rules were adopted to 
provide greater predictability for financial flows and to build t he capacity of the national financial 
 
26 Annex VI of Decree No. 541/2019.  
27 CMC Decision No. 31/15.  
28 Ratified by Argentina in 2019 (Law No. 27.527 of 20 November 2019), and entered into force in 2020.  
29 In 2021, these three agreements had yet to be ratified by Argentina (information provided by the 
authorities).  WT/TPR/S/412 • Argentina  
 
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  regulators.30 In the telecommunications sector, in 2019, it was agreed to eliminate roaming charges 
within the bloc.31 
2.31.  In 2013, the Partial Scope Agreement  between  Argentina and the Bolivarian Republic of 
Venezuela  (AAP.CE No. 68) entered into force. Argentina grants a 100% preference on all products 
originating in the Bolivarian Republic of Venezuela, with the exception of products from the 
automotive sector and the sugar sector. These products are governed by the prov isions contained 
in ACE No. 59, the previous agreement.  
2.32.  In 2017, MERCOSUR a nd Colombia signed the Partial Scope Agreement ACE No. 72, which 
will replace ACE No. 59, once all the Parties have incorporated the new Agreement into their domestic 
legislation. C urrently (2021), both Agreements are in force (Section 3.1.3.3). ACE No. 72 provided  
the same  market access conditions granted in ACE No. 59, extended preferential treatment for some 
products that had not been considered initially (insecticides, wadding, textiles and metal products), 
and granted better preferences for products such as sugar, cocoa, plastics, tyres, vehicles and parts 
thereof, and instruments and apparatus for measuring or checking pressure. Under ACE No. 72, 
Argentina negotiated tariff quotas for insecticides, plastic bottles, vehicles and mudguards 
(Section  3.1.3.3). The 1st Additional Protocol to ACE No. 72 on trade in  services was signed in 2018. 
It has yet to enter into force (May 2021).  
2.33.  Under the ACE between MERCOSUR and Chile ( ACE No.35), trade between Argentina and 
Chile was liberalized in 2014. During the period under review, several additional protocols to ACE 
No. 35 were enacted. For example, the 58th Additional Protocol, signed in 2016, provided for the 
use of digital certificates of origin. Under the 63rd Additional Protocol, new provisions concerning 
certificates of origin were applied as from 2019. Argentina and Chile deepened their trade relations 
at the bilateral level through the negotiation of the 61st Additional Protocol to ACE No. 35, which 
entered into force in 2019. As a result, non -tariff barriers were reduced, the coverage of trade in 
services was ex tended, and new trade issues, such as e-commerce, the participation of MSMEs and 
gender equality, were included. Furthermore, the 65th Additional Protocol (bilateral), which entered 
into force in 2021, amended the rules of origin for the automotive sector,  by lowering the regional 
content index.32 
2.34.  In 2019, Argentina agreed on new provisions for automotive trade  with Brazil (43rd and 44th 
Additional Protocols to ACE No. 14), Mexico (6th Additional Protocol to Appendix 1 of ACE No. 55) 
and Paraguay (2nd Addit ional Protocol to ACE No. 13). In the cases of Mexico and Brazil, the 
reduction of tariffs to 0%, which had been planned for 2019 and 2020 in these protocols, was 
postponed until 2022 and 2029. In the case of Paraguay, all tariffs were eliminated as from 2 019, 
except for certain motor vehicles, which will become duty -free as from 2022.33 In the case of Mexico, 
tariff quotas will continue to be applied. Automotive trade  between Argentina and Brazil continues 
to be managed through an export deviation ("flex")  coefficient in bilateral trade (Box 2.3).  
Box 2. 3 “Flex” coefficient  
Regarding automotive trade between Argentina and Brazil, a tariff preference of 100% is applied to automotive 
goods , provided that compliance with an offset cl ause, referred to as the “flex coefficient” , is ensured. The 
"flex coefficient"  is the ratio between imports and exports that allows countertrade between Argentina and 
Brazil  to continue;  for each dollar of exported automotive sector  products , a certain amount may be imported, 
with a tariff preference of 100%. If bilateral trade exceeds the “flex coefficient”, the volume of imported auto 
parts that exceed the coefficient will be subject to a tariff equivalent to 75% of the bilaterally -agreed t ariff, 
and 70% for other automotive  products.  
Source:  43rd and 44th Additional Protocols to ACE No. 14.  
2.35.  In 2017, the trade agreement between MERCOSUR and Egypt entered into force. Under the 
agreement, Argentina immediately liberalized 18.8% of its tariff s. After completing the tariff 
elimination schedule, which includes four stages and will last 10 years, Argentina will grant a 
 
30 Minutes 2/201 9 of 4 December 2019 and Minutes 1/2020 of 7 December 2020.   
31 Decision No. 001 -2019.  
32 LAIA press release of 16 December 2020.  
33 Ministry of Production and Labour (2019), Informe de Gestión: Resumen 2015 -2019. 
https://www.argentina.gob.ar/sites/default/files/ministerio_de_produccion_y_trabajo_ -
_informe_de_gestion_2015 -2019.pdf . WT/TPR/S/412 • Argentina  
 
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  preference of 100% on products originating in Egypt which are classified in 98% of the tariff lines. 
Chemical  products , in partic ular, are excluded . The agreement does not cover trade in services.34 
2.36.  The agreement between MERCOSUR and the Southern African Customs Union (SACU), which 
entered into force in 2016, exempts  certain goods from tariffs , in full or partially,  upon the entry 
into force of the agreement. Argentina immediately liberalized 5.8% of its tariff s and will also give 
preferential treatment to 2.9% of its tariff s.35 
2.37.  In 2019, agreements in principle were concluded between MERCOSUR and the European Free 
Trade Association ( EFTA), and between MERCOSUR and the European Union ( EU). Legal texts based 
on the agreed documents  are being drafted.  
2.38.  Since 2013, Argentina, as a MERCOSUR State Party, has initiated trade negotiations with 
Canada, the Republic of Korea, Lebanon and Singapo re, and with India and Israel, in order to expand  
and strengthen  existing agreements. Moreover, within the framework of LAIA, between 2013 and 
2021, Argentina initiated negotiations with Mexico to expand and strengthen  ACE No. 6, and with 
Peru to expand an d strengthen , at the bilateral level, ACE No. 58 (MERCOSUR -Peru). The 
negotiations address provisions on trade in services, investment, government procurement, trade 
and the environment, the participation of SMEs and gender equality.  
2.3.3   Other agreements and a rrangements  
2.39.  Under the Generalized System of Preferences (GSP), Armenia (since 2016), Australia, the 
United States of America (since 2018), Japan, the Russian Federation, Kazakhstan, New Zealand, 
Norway, Switzerland and Turkey grant unilateral tariff preferences to Argentina.36 
2.40.  Argentina participates, as a MERCOSUR State Party, in the Global System of  Trade Preferences 
among Deve loping Countries (GSTP). Under the GSTP, MERCOSUR grants preferences of between 
10% and 100 % on around 1% of the tariff universe.37 
2.41.  Argentina is an observer to the Pacific Alliance. Furthermore, in 2018, MERCOSUR and the 
members of the Pacific Alliance signed the Puerto Vallarta Action Plan to consolidate their trade 
relations, with a focus on trade facilitation and investment, inclusive trade, value chains and the 
internationalization of SMEs.38 Since 2019, the two blocs have made progress in the mutual 
recognition of their authorized economic operator (AEO) programmes.  
2.4  Investment regime  
2.42.  The foreign investment regime in Argentina is governed mainly by the Foreig n Investment 
Law.39 Argentina grants national treatment to foreign investors.40 Foreign investors do not require 
authorization to invest.41 Foreign  direct investment (FDI) must be registered, for statistical purposes, 
in the reporting system for foreign  assets and liabilities of the Central Bank of   Argentin a (BCRA).42 
Concerning foreign portfolio investment, the requirement to deposit 30% of the investment amount 
with the BCRA was eliminated in 2015.43 
 
34 WTO document WT/COMTD/RTA10/1/Rev.1 of 28 N ovember 2019.  
35 WTO document WT/COMTD/RTA11/1 of 7 November 2019.  
36 WTO. Viewed at: http://ptadb.wto.org/Country.aspx?code=032 .  
37 Information provided by the authorities.  
38 Communication from the  Common Market Council LV CMC - Minutes 2/2019 of 4 December 2019 .  
39 Harmonized Text of Law No.  21.382 approved as Annex I to Decree No.  1.853/1993  
40 Article 20 of the Constitution and Article 1 of the Foreign Investment Law.  
41 Article 15 of the Economic Emergency Law (Law No. 23.697 of 1 September 1989).  
42 Information provided by the authorities ; and the BCRA. Viewed at: 
http://www.bcra.gob.ar/PublicacionesEstadisticas/Inversiones_directas.asp .  
43 Article 4 (a) of Decree No. 616/2005 amended by Ministry of the Economy and Public Finance 
Resolution No. 3/2015, and information provided by the authorities.  WT/TPR/S/412 • Argentina  
 
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  2.43.  Foreign investors may transfer profits abroad and repa triate invested capital,44 in addition to  
paying interest, dividends, earnings  or royalties abroad, provided that they comply with the 
provisions regulating access to and the functioning of the foreign exchange market (Section  1).45 
2.44.  In 2021, the investment  promotion scheme  for exports was established to promote domestic  
and foreign investment in activities with the potential to produc e export able industrial forestry 
goods,  mining and hydrocarbon products, and manufactured and agro -industrial products.46 A 
minimum investment of USD 100 million is required to be eligible for the scheme . The enterprises 
covered by the scheme  may use up to 20% of the foreign currency obtained through an unrestricted 
export operation, with a maximum limit of 25% of the gross annual amount of total foreign currency 
inflows.47 The foreign currency may be used to settle debts or pay profits  or div idends abroad, or to 
repatriate the investment. Moreover, the amount may be deposited in accounts abroad in Argentine 
financial institutions and/or local accounts, in foreign currency, in Argentine banks.48 However, to 
date (July 2021), the scheme  has yet to be implemented, as it has not been regulated.  
2.45.  Private, domestic  and foreign investment is permitted in most activities. However, the State 
still maintains a monopoly over the telecommunications sector (fibre optic wholesale service and 
satellite communi cation services) and air transport (air transit management and the issuance of 
airline tickets for government agencies). The State is also the owner of deposits of petroleum and 
other minerals. Domestic  and foreign investors must obtain a concession to dev elop mineral and 
hydrocarbons resources.49 
2.46.  Fishing in waters under Argentine jurisdiction and maritime cabotage services are generally 
reserved for Argentine nationals.50 In the financial sector , foreign insurance companies may establish  
branches in Argent ina  only if there is reciproc ity.51 
2.47.  Regarding sectoral limitations, the foreign equity ownership  and share of votes in media 
companies may not be higher than 30%.52 This limit may be increased if there is a reciprocity 
agreement. However, according to the  authorities, this was not the case  during the review period.53 
In the air transport sector, 51% of the equity  and votes of airlines operating flights within Argentina  
must be owned by nationals. Exceptions have been allowed (Section 4.4.3.1).  
2.48.  Foreign nationals are subject to restrictions for the purchase of land. They may purchase a 
maximum of 15% of the total national territory. Foreign nationals from the same country of origin 
may not own more than 30% of this 15%. Furthermore, foreign nation als may not possess more 
than 1,000 hectares in the “core area” or its equivalent.54 They may also not purchase real estate 
in areas crossed by “ major  and permanent” rivers, or along the banks of those  rivers. Purchases of 
real estate in border security ar eas require the authorization of the Ministry of the Interior.55 There 
are no restrictions on the purchase of real estate in areas  suitable for industrial activities, including 
industrial parks.56 The State may resort to expropriation under eminent domain .57 
 
44 Article 5 of the  Harmonized Text of Law No. 21.382 approved as Annex I to Decree No.  1.853/1993.  
45 AAICI (undated), Marco Legal para Comenzar un Negocio en la Argentina . Viewed at: 
https://www.inversionycomercio.org.ar/docs/pdf/Marco_Legal_para_comenzar_un_negocio_en_argentina.pdf . 
46 The following agro -industrial products are excluded: wheat, wheat flour, wheat pellets, wheat starch 
and wheat gluten; maize (corn), pisingallo maize, maize flour, maize pellets, maize starch, maize oil and  
preparations of maize; soya beans, soyabean flour, soyabean oil, soyabean pellets and soyabean proteins; 
glycerol; and biodiesel.  
47 Article 8 of DNU No. 234/2021 . 
48 DNU No. 234/2021.  
49 Mining Code and Hydrocarbons Law.  
50 Article 37 of Law No. 24.922 of 9 December 1997; and Article 6 of Decree Law No. 19.492.  
51 Article 5 of Law No. 20.091 of 11 January 1973.  
52 Publishing houses, radio broadcasting companies, producers of audi ovisual and digital content, which 
provide  Internet services and audiovisual communications services.  
53 Articles 2 -3 of Law No. 25.750 of 18 June 2003.  
54 The core area comprises the departments of the provinces of Buenos Aires, Córdoba and Santa Fe 
(Artic le 10 of Decree No. 274/2012). The areas equivalent to the core area may be consulted at: 
https://www.argentina.gob.ar/justicia/tierrasrurales/cartograf%C3%ADa/e quivalencias . 
55 Rural Land Law (Law No. 26.737 of 22 December 2011). The mapping of the border security areas is 
contained in Decree No. 253/2018.  
56 Article 6 of Decree No. 820/2016.  
57 Article 17 of the Constitution.  WT/TPR/S/412 • Argentina  
 
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  2.49.  Foreign nationals (like Argentine nationals) may establish commercial companies and 
branches in Argentina, hold shares  in local  commercial companies and acquire the goodwill of a 
business.58 The General Companies Law (Law No. 19.550)59 and the Entrepreneurial Capital Support 
Law (Law No. 27.349) regulate the establishment and operation of commercial companies and 
branches. The mos t frequently used types of commercial company are sociedad anónima  (SA) 
(public limited companies ) and sociedad de responsabilidad limitada  (SRL)  (limited liability 
companies ). During the review period, two other types of commercial companies were created:  
sociedad anónima unipersonal  (SAU)  (single -member public limited companies ) in 2015 and 
sociedad por acciones simplificada  (SAS) ( simplified joint -stock companies ) in 2017 (Table 2.8). The 
establishment of commercial companies and branches in Argentina is  processed electronically 
through the Remote Procedure Management  (TAD) Platform, which has been in use since 2016.60 
Table 2. 8 New types of commercial companies  
 Single -member public limited 
companies  Simplified joint -stock c ompanies  
Partners  One partner  One or more partners, with no maximum limit of partners  
Minimum 
registered 
capital  ARS 100,000 The full amount 
must be paid upon establishment.  An amount equivalent to twice the adjustable minimum living 
wage. Twenty -five per cent of the capital stock must be paid 
upon establishment. The remaining amount may be paid 
within a period of no more than two years, as from the date 
of establishment.  
Start-up time  Five working days when an 
“urgent” procedure is request ed. 
Otherwise, 10 to 20 working days.  24 hours  
Type of 
operations  Any activity  Any activity, except, for example, the provision of financial 
services, public services or concession activities  
Head office 
and domicile  Only in the Autonomous City of 
Buenos Aires  Only in the Autonomous City of Buenos Aires  
Source:  Law No. 19.550 ( text harmonized by Decree No. 841/1983) and Law No. 27.349 of 29 March 2017.  
2.50.  Argentina has implemented several reciprocal investment promotion and protection 
agreements (IPPAs) and treaties  for the avoidance of double taxation (Table 2.9). Between 2013 
and 2021, several reciprocal IPPAs  expired, some because they  were terminated ; however, in such 
cases, existing protection periods remain in effect . Argentina is a member of the International Centre 
for Settlement of Investment Disputes (ICSID) and th e Multilateral Investment Guarantee Agency 
(MIGA). It has also ratified the New York Convention and the Panama Convention on international 
arbitration.  
Table 2.9 Reciprocal IPPAs  and treaties  for the avoidance  of double taxation , 2021  
Reciprocal 
IPPAs  In force:  Algeria (2002); Armenia (1994); Australia (1997); Austria (1995); Belgium and 
Luxembourg (1994); Bulgaria (1997); Canada (1993); China (1994); Costa Rica (2001); Croatia 
(1996); Cuba (1997); Czech Republ ic (1998); Denmark (1995); El Salvador (1999); Egypt (1993); 
Finland(1996); France (1993); Germany (1993); Guatemala (2002); Hungary (1997); Israel (1997); 
Italy (1993); Jamaica (1995); Lithuania (1998); Malaysia (1996); Mexico (1998); Morocco (2000); 
Netherlands (1994); Panama (1998); Peru (1996); Philippines (2002); Poland (1992); Portugal 
(1996); Republic of Korea (1996); Romania (1995); Russian Federation (2000); Senegal (2010); 
Spain (1992); Sweden (1994); Switzerland (1992); Thailand (2002); Tunisia ( 1995); Turkey (1995); 
Ukraine (1997); United Kingdom (1993); United States of America (1994); Venezuela (1995); 
Viet Nam (1997)  
Terminated and expired:  Bolivia (terminated in 2013, expired in 2014); Chile (2019); Ecuador 
(terminated in 2017, expired in 2 018); India (terminated in 2012, expired in 2013); Indonesia (its 
termination was agreed in 2015, expired in 2016); Nicaragua (2021); South Africa (terminated in 
2016, expired in 2017)  
Signed:  Dominican Republic (2001); Greece (1999); Japan (2018); New Zealand (1999); Qatar 
(2016); United Arab Emirates (2018)  
Treaties 
for the 
avoidance 
of double 
taxation  In force:  Brazil (2018); Chile (2016); Mexico (2017); Spain (2013); Switzerland (2015); 
United  Arab Emirates (2019); Uruguay (2013)  
Signed:  China (2018); Japan (2018); Luxembourg (2018); Qatar (2018); Turkey (2018)  
Source:  Information provided by the authorities.  
 
58 AAICI (undated), Guía para el Inversor . Viewed at: 
https://www.inversionycomercio.org.ar/docs/pdf/Guia -para-el-inversor.pdf . 
59 In 2015, the Companies Law became the General Companies Law.  
60 Decree No. 1.063/2016.  WT/TPR/S/412 • Argentina  
 
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 3  TRADE POLICIES AND PRACTICES BY MEASURE  
3.1  Measures Directly Affecting Imports  
3.1.1   Customs procedures, valuation and requirements  
3.1.  Import (and export) procedures in Argentina are still regulated by the Customs Code of the 
Argentine Republic (Law No. 22.415) and its implementing Decree (No. 1.001/1982). The 
Directorate -General of Customs (DGA) remains the main institution responsible for import 
procedures. Its role is to value, classify and verify goods a nd control their entry (and exit) and their 
modes of transport, ensuring compliance with current provisions on the clearance of goods. Other 
institutions support the DGA in carrying out its functions (Table  3.1). 
Table  3.1 Othe r institutions involved in import procedures, 2021  
National Agriculture and Food Quality and Health Service (SENASA) : verifies compliance with all 
phytosanitary and animal health requirements for imports of products and by -products of animal or plant 
origin 
National Drugs, Food and Medical Technology Administration (ANMAT) : regulates the activities, 
processes and technologies used to supply, produce, manufacture, fractionate, import, export, store and 
market products, substances, elements and materials consumed or used in human medicine, food or 
cosmetics  
National Grape -Growing and Wine Production Institute : inspects grape and wine products; regulates 
the production, movement, fractionation and marketing of ethyl alcohols and methanol; and act s as the 
implementing authority for the designation of origin system used for wines and wine -based spirits  
National Agency for Regulated Products (ANMAC) : registers, monitors and regulates all activities 
related to firearms, gunpowder, explosives and the like and other regulated products, as well as users of 
such products within Argentine territory  
Source:  Information provided by the authorities  
3.2.  In Argentina, foreign -trade operators such as importers, (exporters) and customs brokers 
(which support trade a nd the Customs Service) must register in the Special Customs Registries 
before they can operate; customs brokers must also have the necessary electronic authorization.1 
To register in the Special Customs Registries, foreign -trade operators (importers, exp orters and 
customs brokers) must declare their tax domicile, and customs brokers must also declare their 
special domicile2, among other requirements.3 
3.3.  Registration in the DGA Special Customs Registries is mandatory in order to import (or export).4 
Furth ermore, importers (and exporters) must be registered as traders in the Public Trade Register 
(for natural persons) and with the Directorate -General of Taxation. They must also be sufficiently 
solvent and (in the case of customs brokers) must pay a guarante e to the DGA, as set out in the 
regulations.5 Occasional importers (or exporters) are not required to register (as per Article  92 of 
the Customs Code).  
3.4.  Import licence applicants must also first register in the register of importers held by the Federal 
Public Revenue Administration (AFIP). To obtain a non -automatic licence, registration in the Single 
Register of the Ministry of Production (RUMP), currently managed by the Ministry of Productive 
Development, is also required.6 
3.5.  Argentina continues to have var ious import destinations and various customs import regimes 
and procedures, which have remained essentially unchanged since 2013. Import procedures vary 
depending on the destination and the regime. Importers must therefore specify the destination of 
 
1 AFIP General Resolution No.  2570 of 27  February 2009.  
2 Special domicile or 100% customs domicile refers to a domicile situated within the urban limits of the 
customs offices in which the customs broker will conduct its activities. There may be special domiciles or 
customs territories in which the broker opera tes (information provided by the authorities).  
3 AFIP General Resolution No.  2570 of 27  February 2009.  
4 Article  94 of Law No.  22415 (Customs Code); Decree No. 1214/2005 of 27  September 2005; and 
Resolution No. 2220/2007 of 23  February 2007.  
5 For more inf ormation about the requirements and stages for registering as an importer, see 
https://www.afip.gob.ar/registroAduanero/ . 
6 Former Ministry of Production Resolution No. 442/2016 of 8  September 2016.  WT/TPR/S/412 • Argentina  
 
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  their goods to determine the customs requirements (Section  VI of the Customs Code). Until they 
have been assigned a customs destination, unloaded goods are subject to the provisional storage 
procedure for imports and may not be processed except insofar as is nec essary to keep them in 
good condition (Articles  198 and 209 of the Customs Code). Imports eligible for a tax concession on 
grounds of use are subject to the verification -of-destination regime. In such circumstances, the DGA 
may carry out an on -the-spot che ck, in which case a verification -of-destination tax of up to 2% of 
the value of the goods will be payable.7 
3.6.  In 2013, Argentine customs began using a new computer system introduced by AFIP.8 The new 
Malvina Computer System (SIM) replaced the MARIA Computer System and is used to record and 
process import/customs declarations.9 
3.7.  In 2014, the Single Window for Foreign Trade (VUCE), previously known as the Electronic Single 
Window, was created wi thin AFIP.10 Foreign -trade operators can use the VUCE to obtain the 
necessary authorizations and certificates for the import (and export) and transit of goods. In theory, 
the VUCE is open to government bodies entitled to intervene in foreign -trade operations, private -
sector entities related to foreign trade, and foreign -trade operators registered in the Special Customs 
Registries. In practice, however, only certain bodies have managed to join the VUCE, so it has only 
been possible to p rocess certain procedures through the VUCE (Table  3.2). A new computer tool, 
called the Customs Procedures Computer System (SITA), was added to the VUCE in 2015. The tool 
allows foreign -trade operators registered in the Special Customs Registries to comple te various 
procedures electronically and to submit supporting documents in digital form.  
Table  3.2 Institutions that were part of the VUCE  
Institution   Procedure  
Secretariat for International 
Coordination and Cooperation  Import, customs clearance, re -export or 
transfer of motor vehicles with diplomatic 
exemption  Imports  
National Drugs, Food and Medical 
Technology Administration (ANMAT)  Deals with goods related to medical 
technology  Imports  
Secretariat of Trade  Involved in a range of operations and/or 
destinations within its areas of responsibility  Imports  
Secretariat of Trade  Authorization and monitoring under the 
temporary admission import regime for 
goods intended for industrial processing  Imports/  
Exports  
Secretariat of Trade  Certification of safety requirements for new 
bicycles  Imports  
Secretariat of Trade  Sworn Declaration of Product Composition  Imports  
AFIP Involved in a range of operations and/or 
destinations within its areas of responsibility  Imports  
Central Bank of Argentina (BCRA)  Tracking of import and export payments  Imports/Exports  
Secretariat for Comprehensive Drug 
Policies of the Argentine Nation 
(SEDRONAR)  Authorization for importing goods within its 
areas of responsibi lity  Imports  
Chambers, federations and sector -
based associations  Participation in the physical verification of 
imported goods as observers  Imports  
MERCOSUR  INDIRA MERCOSUR system  Imports/  
Exports  
Interdisciplinary Executive Monitoring 
Unit Authorized Soya Operators Register (ROSA) 
approvals, suspensions and withdrawals  Imports/  
Exports  
National Grape -Growing and Wine 
Production Institute (INV)  Export of goods subject to its prior 
intervention  Exports  
Unit for the Coordination and 
Evaluatio n of Subsidies for Domestic 
Consumption (UCESCI)a Sworn Declarations of Foreign Sales (DJVE) 
/ Green Register of Export Operations (ROE)  Exports  
UCESCI  Red ROE  Exports  
UCESCI  White ROE  Exports  
a Dissolved in 2017 through Decree No. 444/2017 of 23  June 2017.  
Source:  General Resolution No.  3599/2014 of 5 March 2014.  
3.8.  The Single Window for Argentine Foreign Trade (VUCEA) National Regime was established in 
2016 and became operational in 2019.11 Any body that issues, modifies or removes re gulations 
 
7 Articles  772-776 of the Customs Code and AFIP General Resolution No.  2193 of 1  January 2009.  
8 AFIP General Resolution No.  3560/2013 of 5 December 2013.  
9 AFIP General Resolution No.  3560/2013 of 5 December 2013.  
10 General Resolution No. 3599 of 5 March  2014.  
11 Decree No.  1079 of 6 October 2016 and information provided by the authorities.  WT/TPR/S/412 • Argentina  
 
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 affecting foreign trade, whether for health, safety or commercial reasons, must communicate the 
changes so that they can be incorporated into the VUCE Information Centre (CIVUCE).12 Thanks to 
this tool, as soon as regulations are published, opera tors will know what formalities they must 
complete for the tariff headings of their goods.  
3.9.  The Comprehensive Import Monitoring System (SIMI) was created in 2015 to control and 
manage risk for imports for consumption.13 It replaced the Advance Sworn Import Declaration (DJAI) 
that was introduced in 2012 and is used to process automatic and non -automatic licences.14 
Importers must provide the information indicated in SIMI before they import goods. The competent 
bodies have  up to 10 days – or longer if warranted and for good reason – to respond through SIMI.15 
Importers can track procedures and find out whether the various bodies have made any observations 
and why such observations were made.  
3.10.  The Integrated Foreign Trade Sys tem (SISCO) is used to process proofs of compliance and 
sworn declarations required for certain goods that are subject to technical regulations or related 
standards.16 The system is also used to process Sworn Declarations of Product Composition (DJCPs) 
for textiles, footwear and parts thereof;17 Sworn Declarations for Furniture (DJPMs)18; and the 
mandatory certification of compliance with essential safety requirements f or sales of new bicycles 
and certificates of exemption therefrom.19 SISCO is not part of the VUCE or SIMI. Approved DJCPs 
and DJPMs must be included with the documents required by customs for processing imports. For 
products that require both a DJCP and an  import licence, the DJCP must be processed before the 
import licence.  
3.11.  In Argentina, it is not mandatory to use a customs broker to import (or export) goods; foreign 
nationals are permitted to be customs brokers.20 A person permanently importing goods for 
consumption must present an import declaration to the DGA, either through SIMI or in writing. The 
declaration must include all the information that the DGA requires to verify that the tariff 
classification and value of the goods are correct (Articles  233-234 of the Customs Code). In addition 
to the import declaration, customs require the original transport documents (bill of lading, waybill, 
air waybill), the original commercial invoice, the packing list, and the customs value declaration 
(where appropriate ). Other documents, such as certificates of origin,21 automatic and non -automatic 
licences and health certificates, may be required for certain goods.22 
3.12.  Once the relevant documents have been submitted and taxes paid, goods are directed through 
a selective control system. Like in 2013, Argentina still uses three selection channels: red (physical 
and documentary inspection and, in some cases, value control), amber (documentary control) and 
green (no  inspection). Goods are risk -assessed to determined which cha nnel they must pass 
through. Products subject to specific import controls (import registration, prior authorization, import 
licensing, origin requirements and/or products that must comply with sanitary requirements or 
technical regulations) are directed th rough the amber or the red channel; the rest are directed 
through the green channel (Chart  3.1). Most imports currently go through the green channel. During 
 
12 Decree No.  286/2019 of 25 April 2019.  
13 Resolution No.  3823/2015 of 21  December 2015 and Joint Resolution No. 4185 -E/2018 of 
5 January  2018.  
14 General Resolution No.  3252 of 5  January 2012.  
15 Resolution No. 3823/2015 and Joint Resolution No. 4185 -E/2018 of 5  January 2018.  
16 Resolution No. 52 of 11  March 2011 of the former Secretariat for Industry and Trade, under the 
former Ministry of Industry.  
17 Resolution No.  404-E/2016 of 5  December 2016, Resolution No. 70 E/2017 of 31 January 2017 and 
online information: https://sisco.mecon.gob.ar/manuales/djcp/Manual_usuario_DJCP_rev_01.pdf . 
18 Resolution No. 494/2018 of 16 August 2018.  
19 Regime for the mandatory certification of essential safety requirements for the sale of new bicycles, 
Resolution No. 220/2003 of 30 December 2003 and Resolution No. 153/2005 of 26 July 2005.  
20 General Resolution  No. 3628/2014 
(https://www.despachantesargentinos.com/news/doc/RG_AFIP_N_3628_2014.pdf ) and online information. 
Viewed at: https://www.afip.gob.ar/aduana/despachantes.asp . 
21 In 2019, the Digital Certificate of Origin (COD) was introduced for goods sent between Argentina and 
Paraguay (AFIP General Resolution No. 4554/2019). In 2020, as an exceptional measure  in response to the 
health crisis, certificates of origin began to be accepted in electronic form for goods subject to tariff 
preferences under agreements concluded by Argentina within the framework of the Latin American Integration 
Association (LAIA)  and with Israel, the Southern African Customs Union (SACU) and Egypt.  
22 In 2018, the Electronic Document for Sanitary Plant Transit (DTV -e) was implemented for 
importers/exporters (Resolution No. 4297/2018).  WT/TPR/S/412 • Argentina  
 
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  the period under review, the proportion of goods routed through the green channel increased from 
41% in 2013 to 58% in 2020; the proportion routed through the red channel decreased from 35% 
in 2013 to 12% in 2020.23 
Chart 3. 1 Import process, 2020  
 
Source:  AFIP.  
3.13.  During the period under review, Argentina abolished some of its  import registers. The registers 
abolished included the Import Operations Register (ROI), in which it was mandatory to register 
imports of agricultural products such as certain live animals, meat and edible meat offal (HS 0103, 
0203, 0206 and 0209),24 and the Potato Importers Register.25 Some registers remained in place, 
however, and some new ones were introduced (Table  3.3), including one for petroleum products 
(Table  3.3). 
Table  3.3 Import registers created or abolished, 2013 -20 
Register  Products  Legal instrument  
Registers abolished  
Import Operations Register (ROI)  Agricultural products such as 
certain live animals and meat and 
edible meat offal (MERCOSUR 
Common Nomenclature (NCM) 
0103, 0203, 0206 and 0209)  Abolished in 2017 (Resolution 
No. 181-E/2017 of 26 July 2017 
abolished Resolutions Nos. 
119/07 of 9 March 2007 and 2/08 
of 18 April 2008)  
Potato Importers Register  Potatoes  Abolished in 2019 (Resolution 
No. 20 of 22 February 2019)  
Registers maintained  
National Register of Food Products 
(RNPA)  A certificate that the 
corresponding health authorities 
award to import companies for 
each food product or dietary 
supplement that they import. To 
obtain the certificate, the 
company must be listed in t he 
National Register of 
Establishments (RNE) and the 
product registered in the RNPA.  Resolution No.  1946/1993  
Authorized Soya Operators 
Register (ROSA)  Temporary imports of soya beans 
to manufacture and export 
various soya -bean products such 
as soya-bean oil and biodiesel, in 
accordance with the Temporary 
Admission Import Regime for 
Industrial Processing, as 
envisaged in Decree No.  1330/04  Joint Resolution Nos.  438/12 
(MEFP), 269/12 (MI) and 1001/12 
(MPFIPS)  
 
23 Information provided by the authorities.  
24 Resolution No. 181 -E/2017 of 26 July 2017 repealed the two resolutions tha t created the ROI: 
Resolutions Nos. 119/07 of 9 March 2007 and 2/08 of 18  April 2008.  
25 Resolution No. 20 of 22 February 2019.  
Arrival of the means of 
transportUnloading of the 
goodsEntry intoprovisional 
import storageImport regime
registration
Red
Amber
GreenDocumentary contro l Physical
inspection
Documentary controlPresentation of the dossier 
tocustoms
Authorization for
withdrawal
Exitfrom primary zoneSelection channelWT/TPR/S/412 • Argentina  
 
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 Register  Products  Legal instrument  
Certificate of Import of Used 
Goods ( CIBU)  Used goods included under the 
tariff lines of HS Chapters 8 -90 Resolution No. 909/1994 of 
3 August 1994  
Decree No.  2646/2012  
Decree No.  406/2019 of 6 June 
2019 
Registers created  
Register of Crude Oil and Crude 
Oil Derivative Import Operations  Crude oil and its derivatives 
(crude petroleum oils (HS 
2709.00.10)), crude oils obtained 
from bituminous minerals (HS 
2709.00.90); aviation spirit (HS 
2710.12.51); petroleum spirit 
other than aviation spirit (HS 
2710.12.59); and gas oil (HS 
2710.19.21)  Created in 2017 (Resolution 
No. 47-E/2017 and Decree No. 
192 of 20 March 2017)  
Certificate of Import of Used 
Goods for the Hydrocarbons 
Industry (CIBUIH)  The products included are listed in 
Annexes I and II of Decree No. 
555/2019  Created in 2019 (Decree 
No. 555/2019 of 9 August 2019)  
Register of Imports of Goods for 
Consumption under Contracts 
with Price Escalation Clauses 
between Affiliated Enterprises 
with the Involvement of Third -
Party Operators  - Created in 2019 (AFIP General 
Resolution No. 4419/2019 of 
8 February 2019)  
Source:  WTO Secretariat.  
3.14.  In 2017, Argentina created the Register of Crude Oil and Crude Oil Derivative Import 
Operations for the registration of the import of these products, which requires authorization.26 To 
obtain this authorization, an import application must be submitted in line with the specific procedure 
set out by the Under -Secretariat for Hydrocarbons. The Under -Secretariat shall establish the 
methodology for determining the volume that may be autho rized. The methodology shall be based 
on: (i)  the supply of crude oil of domestic origin with similar characteristics; (ii)  local refineries' 
additional capacity for processing crude oils of domestic origin; and (iii)  the domestic supply of 
petroleum produ cts.27 The Register was abolished, however, on 31 December 2017,28 because it had 
been created in response to a temporary economic situation until local prices moved closer to 
international prices.29 
3.15.  A Certificate of Import of Used Goods (CIBU) – first iss ued in 2012 – must still be presented 
when requesting the outright importation for consumption of used goods included under the tariff 
lines in HS Chapters 84 -90.30 CIBUs are issued subject to the National Directorate of Industry 
consulting with chambers/t rade associations to determine whether the capacities exist to produce 
the product locally. The issuing of a CIBU depends on the local supply of relevant goods and the 
import's potential effect on the local market. This effect is determined through a techn ical report 
issued by the National Directorate of Industry following consultation with the domestic industry.31 
There is also a Certificate of Import of Used Goods for the Hydrocarbons Industry (CIBUIH).32 
According to the authorities, this regime is no lo nger valid, since it expired on 31 December 2020.  
3.16.  The Register of Imports of Goods for Consumption under Contracts with Price Escalation 
Clauses between Affiliated Enterprises with the Involvement of Third -Party Operators was created 
 
26 According to information from the authorities, however, this authorization is not considered a 
non--automatic licence.  
27 Decree No.  192/2017 of 20  March 2017.  
28 Decree No.  962/2017 of 24 November 2017.  
29 Resolution No. 47 -E/2017 of 30 March 2017 specified  that the Register would be suspended if the 
average price over 30 consecutive trading days of the international classification known as Brent was equal to 
or no more than USD  1 greater than the price of Medanito crude oil.  
30 Decrees Nos.  2646/2012, 1205/2 016 and 406/2019 of 6 June 2019.  
31 Decree No. 406/2019 of 6 June 2019.  
32 Decree No.  629/2017 of 9 August 2017, Decree No.  555/2019 of 9 August 2019 and Order 
No. 31/2019 of 11 September 2019.  WT/TPR/S/412 • Argentina  
 
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  in 2019 to implement a  system of ex -post oversight of the release of goods, since such operations 
between affiliated enterprises can lead to circumvention and overinvoicing. Before companies that 
conduct such operations register in SIMI, they must first present to AFIP a copy o f the contract that 
defines the price escalation methodology, which the importer and the customs broker must 
authenticate.33 
3.17.  Wine and grape must importers are required to register with the National Grape -Growing and 
Wine Production Institute (INV) and to c omply with other import requirements (Table  3.4). Sanitary 
registration is still required for importers of medical products and products for aesthetic use.34 
Table  3.4 Requirements for wine and grape must imports, 2020  
Importer s must register with the National Grape -Growing and Wine Production Institute (INV).  
The "Guía de Importación" is a single document that serves as a sworn declaration.  
It is used to:  
inform the INV which wines or musts will be imported; and  
request the INV to take the corresponding samples.  
It also acts as a safe -conduct card for moving the goods that will be imported from the customs area to 
the wineries or grape must factories where the INV checks the goods and takes the corresponding 
samp les. 
The "Guía de Importación" is completed at least 48 hours before the declared date of entry.  
A certificate of analysis issued by an official or authorized laboratory in the country of origin is also required 
for each product being imported.  
The INV verifies the information declared in the "Guía de Importación".  
Once the information has been confirmed, the "Guía de Importación" is returned to the party concerned and 
becomes part of the customs documentation.  
Once customs procedures have been completed, the importer must present to the INV a copy of the 
"Importación para Consumo" customs document certifying the procedure that was completed.  
Source:  Law No.  14.878 and its supplementary rules; INV Resolution No. C -121/93 – Order No. C -1139/ 93; 
and Requirements for importing wines and grape musts. Online information: http://www.inv.gov.ar  
and 
http://www.alimentosargentinos.gob.ar/HomeAlimentos/AyB/bebidas/normativa/NormasImportacion
.pdf. 
3.18.  In 2016, Argentina notified the WTO which Category A commitments under the Trade 
Facilitation Agreement (TFA) it would not adopt when the Agreement entered into  force. Those 
commitments were included under Category B.35 In 2017, Argentina notified an indicative timetable 
for implementing those commitments, which was completed in 2018. It undertook to implement 
most of these commitments as soon as the TFA came int o force for the country, with the exception 
of: advance rulings (Article  3.9(a)(ii)) (five years after the Agreement's entry into force for 
Argentina); acceptance of copies for import, export and transit procedures (1 January 2022); and 
implementation of t he single window (five years after the Agreement's entry into force for 
Argentina).36 Argentina has notified the Committee on Trade Facilitation of the following, inter alia : 
the official sites where import, export and transit procedures and the forms and documents required 
for such procedures are published; the applied rates of duties and taxes imposed on or in connection 
with importation or exportation; measures on the use of customs brokers; details of how the single 
window operates; and details of its c ontact point for the exchange of this information.37 
3.19.  In 2019, Argentina created the National Committee on Trade Facilitation. The purpose of the 
Committee is to facilitate internal coordination and application of the provisions of the WTO TFA.38 
It is not yet operational, since its internal regulations have not yet been established.  
3.20.  In 2017, Argentina began to implement the authorized economic operator (AEO) scheme.39 
Importers (exporters) that have joined the AEO programme can be categorized either as a Fu ll AEO 
 
33 Online information: https://www.afip.gov.ar/noticias/20190208 -Registro -de-importaciones -para-
consumo -de-mercaderias.asp .   
34 Order No.  5706/2017 and Circular No.  14/2016. Online information: Viewed at: 
http://www.anmat.gov.ar/webanmat/normativas_productosmedicos_cuerpo.asp . 
35 WTO document WT/PCTF/N/ARG/1 of 27 May 2016.  
36 WTO documents G/TFA/N/ARG/1  of 15 March 2017 a nd G/TFA /N/ARG/1 /Add.1  of 12 March 20 18. 
37 WTO documents G/TFA/N/ARG/2 of 28 February 2018; G/TFA/N/ARG/2/Rev.1 of 11 December 2019; 
G/TFA/N/ARG/2/Rev.2 of 22 June 2020; and G/TFA/N/ARG/2/Rev.3 of 5 October 2020.  
38 Decree No. 535/2019 of 1 August 2019.  
39 AFIP General Resolution No.  4150-E/2017 of 26 October 2017.  WT/TPR/S/412 • Argentina  
 
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 (Level A) or as a Simplification and Monitoring AEO (Level B), depending on the safety of the cargo 
and the trade partners, the commercial records system, and the operator's financial solvency and 
fiscal trustworthiness. Initially, AEOs could only c arry out the following operations: (i) imports of 
goods or inputs for productive processes from countries with which Argentina does not have mutual 
recognition arrangements; (ii) imports by an importer/exporter that uses the on -site customs 
procedure; and (iii) exports of any kind.40 Gradually, through pilot schemes (such as the AEO Pilot 
Scheme), operations under other import procedures began to be included, such as the in -factory 
customs procedure (RAF).41 
3.21.  In 2017, Argentina also abolished clearance by sp ecialized customs offices – a procedure 
created in 200542 – for imports for consumption of goods such as textiles and textile articles (HS 
Chapters 50 – 63); footwear, gaiters and the like (HS Chapter 64); and toys, games and sports 
requisites and parts and  accessories thereof (HS tariff headings 95.01 - 95.05). It did so because 
users were requesting exemptions from using the procedure because of the additional costs resulting 
from the requirement to document imports at customs offices located far away from their local 
jurisdiction.43 Nevertheless, only a limited number of customs offices are authorized to process 
imports of narcotic drugs and psychotropic substances and imports of gunpowder, explosives and 
the like.44 
3.22.  To facilitate trade, in 2018 Argentina a lso implemented the Electronic Document for Sanitary 
Plant Transit (DTV -e) for importers (and exporters).45 The document consolidated import 
requirements and replaced the delivery note, "Guía de Importación" or equivalent import document 
on the one hand,46 and the former Document for Sanitary Plant Transit (DTV) on the other.47 
3.23.  Argentina also sought to facilitate trade by adopting regulatory measures to reduce transport 
costs and by implementing a Port Community System to improve logistics at ports .48 These measures 
have reduced container handling costs by 60%.49 
Customs valuation  
3.24.  Customs valuation in Argentina is regulated by the Customs Code (Law No. 22.415) and its 
implementing Decree (No. 1.001/1982) and by the WTO Customs Valuation Agreement. Ther e have 
been no substantial regulatory changes since 2013. According to information provided by the 
authorities for the period 2013 -20, Argentina mainly used the transaction value (in 87% of cases) 
as the basis for determining the customs value.50 Other met hods, such as the transaction value of 
identical products and the transaction value of similar products, were used to value 6.4% of imports. 
In the remaining 6.6% of cases, the declared value was contested after offences or crimes were 
detected.51 
3.25.  Argentin a did not enter any reservations with the WTO concerning the fixing of minimum 
prices, but AFIP, through the DGA, continues to establish criterion values of a precautionary nature 
to protect the fiscal interest for any imported goods. These values are publ ished in the Official Journal 
 
40 AFIP General Resolution No.  4150-E/2017 of 26 October 2017.  
41 Information provided by the authorities.  
42 AFIP General Resolution No. 1924 of 11 August 2005.  
43 AFIP General Resolution No.  4097-E of 26 July 2017.  
44 Resolution No. 3.115 of 15 November 1994.  
45 AFIP/SENASA Joint Resolution No. 4297/2018 of 28 August 2018.  
46 AFIP General Resolution No. 1415 of 7 J anuary 2003.  
47 SENASA Resolution No. 31 of 4 February 2015.  
48 Port of Buenos Aires. Viewed at: 
https://www.argentina.gob.ar/sites/default/files/brochure_cargas _2019_actnov.pdf . 
49 Port of Buenos Aires (2019), Informe de Gestión 2019 . Viewed at: 
https://www.argentina.gob.ar/noticias/mira -nuestro -informe -de-gestion -2019-0; and Port of Buenos Aires. 
Viewed at: https://www.argentina.gob.ar/sites/default/files/brochure_cargas_2019_actnov.pdf . 
50 Information provided by the authoritie s. 
51 Information provided by the authorities.  WT/TPR/S/412 • Argentina  
 
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  (Boletín Oficial ) and in the journal of the DGA.52 As was the case for the previous review, the list of 
products subject to criterion values was amended several times during the review period.53 
3.26.  The factors taken into account in determining the criterion value of a product include the 
official value declared at the point of importation for consumption, the databases available in the 
public or private sector and the services of any specialized companies contracted.54 Furthermore , 
the goods selected for value control are determined based on factors such as: applications presented 
by industry and trade representatives and import -sector representatives; applications made by 
different parts of the public sector; goods with declared v alues that are inconsistent with normal and 
reasonable values in the particular industry or trade; goods with declared values that are inconsistent 
with the values of identical or similar goods; and goods with values that have been adjusted by the 
valuatio n units and are not covered by criterion values. Criterion values are updated in response to 
changes in international market prices.55 
3.27.  If the declared value is lower than the provisional value, the imports are routed through the 
red value channel56 and a s ecurity must be lodged for the difference between the amount paid and 
the amount resulting from consideration of the established value. In addition, imports selected 
through risk analysis by a computer system may also be routed through the red value channe l, with 
no security required in this case.57 
3.28.  Tariffs are levied on the c.i.f. value of the imported goods.  
3.1.2   Rules of origin  
3.29.  Argentina continues to use preferential and non -preferential rules of origin.  
3.30.  Non-preferential rules are used to certify the origin o f goods subject to contingency measures. 
Until 2019, they were also used to import products that required a certificate of origin for statistical 
purposes, that is, products for domestic consumption covered by HS Chapters 51 -64.58 The 
certificate of origin  for statistical purposes was abolished in 201959 and replaced by the sworn 
declaration of non -preferential origin, which is also required where goods are subject either to 
anti-dumping, countervailing or specific duties or to safeguard measures, and where  imports 
originate in countries to which most -favoured -nation (MFN) treatment is not granted.60 Despite these 
legal provisions, however, Argentina grants MFN treatment to all territories, irrespective of whether 
they are WTO Members.  
3.31.  Imports originating in  countries with which Argentina has signed trade agreements are subject 
to preferential rules of origin. In 2020, following a pilot scheme in 201961, the Digital Certificate of 
Origin (COD) was introduced for goods sent between Argentina and Paraguay, in c ompliance with 
the Digital Certificate of Origin Computer System (SCOD).62 Also in 2020, as an exceptional measure 
in response to the health crisis, Argentina's customs authorities decided to begin accepting 
certificates of origin in electronic form for go ods subject to tariff preferences under agreements 
concluded by Argentina within the framework of the Latin American Integration Association (LAIA) 
or under MERCOSUR agreements concluded with Israel, the Southern African Customs Union (SACU) 
and Egypt.63 
3.32.  The two agreements (MERCOSUR -SACU and MERCOSUR -Egypt), which came into force in 
2013, have similar requirements for conferring origin to those contained in the other preferential 
 
52 AFIP General Resolution No. 2730 of 17 December 2009.  
53 For further details concerning the products subject to criterion prices and the origin of such products, 
see information online at: https://www.afip.gob.ar/noticias/20181227 -Valores -criterio -de-importacion.asp . 
54 AFIP General Resolution No.  2730/2009 of 17 December 2009.  
55 Information provided by the authorities.  
56 The red value channel is a specific valuation channel used for operations with values below or well 
above the expected values.  
57 AFIP General Resolutio n No.  2730/2009 of 17 December 2009.  
58 Ministry of Production and Labour  Resolution No. 141/2018 of 18 December 2018.  
59 Ministry of Production and Labour Resolution No. 1288/2019 of 26 November 2019.  
60 Ministry of Production and Labour Resolution No. 1288/2019 of 26 November 2019.  
61 AFIP General Resolution No.  4554/2019 of 20 August 2019.  
62 AFIP General Resolution No.  4814/2020 of 11 September 2020.  
63 AFIP Circular No. 2/2020 of 7 April 2020.  WT/TPR/S/412 • Argentina  
 
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 arrangements concluded by Argentina. Preferential treatment applies to produc ts originating in or 
wholly obtained in the territory of a party. If non -originating materials are used, origin is conferred 
where products are sufficiently worked or processed (Table  3.5). In the case of Egypt, specific rules 
of origin also apply to 41.3%  of the lines that receive preferential treatment. Both agreements allow 
bilateral cumulation; a product preserves its origin only if it is transported directly between the 
territories of the parties.  
Table  3.5 Preferential origin criteria  
Criterion  MERCOSUR -Egypt  MERCOSUR -SACU  
Originating products  Yes Yes 
Products wholly obtained  Yes Yes 
Products sufficiently worked or 
processed  Change in the (four -digit) HS 
tariff heading  
 
or 
 
The value of non-originating 
materials does not exceed 45% of 
the price of the final product 
(ex-works)  Change in the (four -digit) HS 
tariff heading  
 
or 
 
The value of non -originating 
materials or products does not 
exceed 40% of the price of the 
final product  
 
and 
 
The value of non -originating 
materials may not exceed 10% of 
the price of the final product  
Cumulation  Bilateral  Bilateral  
Source:  WTO Secretariat.  
3.1.3   Tariffs  
3.33.  Argentina's tariff is based on the MERCOSUR Common External Tariff (CET), which is currently 
based  on HS 2017. In 2020, the tariff contained 10,273 ten -digit HS 2017 tariff lines. Argentina 
applies only ad valorem  tariffs. Nevertheless, the Customs Code allows the Executive to set specific 
import duties where, for instance, an ad valorem  duty, even if it is higher, is not sufficient to protect 
a sector, or where there are difficulties related to the valuation of goods.64 
3.34.  In 2020, the simple average MFN tariff remained at its 2012 rate of 11.4%. In 2020, the 
average applied MFN tariff for agricultural products (WTO definition) was 10.4% (up from 10.1% in 
2012). Like in 2012, this was below the protection accorded to non -agricultural products, namely, 
11.5% (Table 3.6). Argentina therefore gives less protection to agricultural products than to non -
agricultural products. The agricultural products that received above -average protection in 2020 were 
dairy products (18.6%) and alcoholic beverages and tobacco (17.7%); like in 2012, the non -
agricultural products that received the greatest protectio n were clothing (35%) and textiles (22.5%) 
(Table  A3.1).  
 
64 Article 663 of Law No. 22.415 (Customs Code).  WT/TPR/S/412 • Argentina  
 
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  Table  3.6 MFN tariff structure, 2012, 2019 and 2020  
 
2012  2019  2020  
(HS12)  (HS17)  (HS17)  
Total number of tariff lines  10,031  10,226  10,273  
Non-ad valorem  tariffs (% of all tariff lines)  0.0 0.0 0.0 
Non-ad valorem  tariffs without ad valorem  equivalents (% of all tariff 
lines)  0.0 0.0 0.0 
Tariff quotas (% of all tariff lines)  0.0 0.0 0.0 
Duty-free tariff lines (% of all tariff lines)  7.5 9.1 9.1 
Simple average tariff on dutiable lines (%)  12.3 12.7 12.6 
Simple average  11.4 11.5 11.4 
Agricultural products (WTO definition)  10.1 10.4 10.4 
Non-agricultural products (including petroleum, WTO definition)  11.5 11.7 11.5 
National tariff peaks (% of all tariff lines)a 4.2 5.2 4.9 
International tariff peaks (% of all tariff lines)b 27.0 26.8 26.5 
Overall standard deviation of applied rates  8.4 8.8 8.7 
Bound tariff lines (% of all tariff lines)  100.0  100.0  100.0  
a National tariff peaks are defined as rates that are at least three times as high as the overall simple 
average of the rates applied.  
b International tariff peaks are defined as rates above 15%.  
Source:  WTO Secretariat calculations, based on data provided by the authorities.  
3.35.  There w ere no substantial changes to Argentina's tariff structure during the review period. 
Like in 2012, the tariffs in 2020 ranged from 0% to 35%. The number of tariffs applied in 2020 was 
31 (up from 18 in 2012). The main change to the tariff structure was the  increase in the proportion 
of duty -free tariff lines from 7.5% of all tariff lines in 2012 to 9.1% in 2020. The most common tariff 
rates in 2020 were 14%, which applied to 20.2% of tariff lines (19.1% in 2012), and 2%, which 
applied to  19.3% of tariff lin es (20.2% in 2012). Almost exactly like in 2012, some 73.5% of tariff 
lines were subject to tariff rates of  15% or less, with the remainder subject to rates of more than 
15% (Chart  3.2). 
Chart 3. 2 Frequency distribution of tari ff rates, 2020  
 
a The total number of lines is 10,273.  
Source:  WTO Secretariat calculations, based on data provided by the authorities.  
(9.1%)(21.5%)
(15.8%)(27.0%)
(17.5%)
(0.1%)(9.0%)
0102030405060708090100
05001,0001,5002,0002,5003,000
Duty free >0-5 >5-10 >10-15 >15-20 >20-25 >25Number of lines Percent
Cumulative percentage
Number of lines (% of total)WT/TPR/S/412 • Argentina  
 
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 3.1.3.1   Tariff bindings  
3.36.  Argentina bound all its tariff lines from HS Chapters 1 -97 at levels ranging from 0 to 35%, 
with a total of 20 tiers. In some sectors, such as dairy products; alcoholic beverages and tobacco; 
cotton; clothing; leather, rubber, footwear and travel items; and non -electrical machinery, all lines 
were consolidated at 35% (Table A3. 1). A comparison of  Argen tina's bindings in the Uruguay Round 
and the MFN tariff applied in 2019 reveals 35 tariff lines for which the applied MFN tariff exceeds the 
bound level (Table 3.7).65 These lines already exceeded the bound level in 2012, when the authorities 
indicated tha t, if the applied tariff was higher than the bound tariff, the latter would be used.  
Table  3.7 Tariff lines for which MFN tariffs are higher than bound tariffs, 2020  
(%) 
HS code  Description  MFN 
tariff  Bound  
tariff  
Complete tariff lines:    
0101.30.00  Asses  4 3.8 
0101.90.00  Other  4 3.8 
0105.99.00  Other poultry  4 3.8 
0106.11.00  Primates  4 3.8 
0106.12.00  Aquatic mammals  4 3.8 
0106.13.00  Camels and other camelids ( Camelidae ) 4 3.8 
0106.19.00  Other mammals  4 3.8 
0106.20.00  Reptiles (including snakes and turtles)  4 3.8 
0106.31.00  Birds of prey  4 3.8 
0106.32.00  Psittaciformes (including parrots, parakeets, macaws and 
cockatoos)  4 3.8 
0106.33.90  Other ostriches  4 3.8 
0106.39.00  Other birds  4 3.8 
0106.41.00  Bees 4 3.8 
0106.49.00  Other insects  4 3.8 
0106.90.00  Other live animals  4 3.8 
8701.30.00  Track -laying tractors  14 5 
8701.91.00  Tractors of an engine power not exceeding 18 kW  14 5 
8701.92.00  Tractors of an engine power exceeding 18 kW but not 
exceeding 37 kW  14 5 
8701.93.00  Tractors of an engine power exceeding 37 kW but not 
exceeding 75 kW  14 5 
8701.94.90  Other tractors  14 5 
8701.95.90  Other tractors  14 5 
9101.21.00  Other wrist -watches, whether or not incorporating a 
stop-watch facility: with automatic winding  20 10 
9101.29.00  Other wrist -watches, whether or not incorporating a 
stop-watch facility: other  20 10 
9101.91.00  Other wrist -watches, electrically operated  20 10 
9101.99.00  Other wrist -watches  20 10 
9102.11.10  Wrist-watches, electrically operated, with case of base 
metal  20 10 
9102.11.90  Other wrist -watches, electrically operated  20 10 
9102.12.10  With case of base metal  20 10 
9102.12.20  With a plastic case, not reinforced with glass fibre  20 10 
9102.12.90  Other  20 10 
9102.19.00  Other wrist -watches, electrically operated, whether or 
not incorporating a stop -watch facility  20 10 
9102.21.00  Other wrist -watches, with automatic winding  20 10 
9102.29.00  Other wrist -watches  20 10 
9102.91.00  Other wrist -watches, electrically operated  20 10 
9102.99.00  Other wrist -watches  20 10 
Parts of bound tariff lines    
3702.55.10  Other film, for colour photography (polychrome): of a 
width of 35 mm  10 5 
9101.19.00  Other wrist-watches  20 10 
Source:  WTO Secretariat calculations, based on data provided by the authorities.  
 
65 For this analysis, since the bound tariff is based on the HS 2002 nomenclature and the MFN tariff is 
based on the HS 2017 nomenclature, only strictly comparable lines (i.e. those with identical HS codes) were 
compare d. WT/TPR/S/412 • Argentina  
 
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  3.37.  In 2020, Argentina reserved the right, under Article XXVIII:5 of the GATT 1994, to modify its 
Schedule LXIV for a three -year period, which began on 1 Janu ary 2021.66 
3.1.3.2   Tariff quotas  
3.38.  Argentina has no MFN tariff quotas. However, it has negotiated tariff quotas under certain 
Partial Scope Economic Complementarity Agreements, namely, the MERCOSUR -Peru (ECA No. 58), 
MERCOSUR -Andean Community (ECA No. 59), MERCOSUR -Cuba (ECA No. 62) and 
MERCOSUR -Colombia (ECA No. 72) agreements.67 The products subject to quotas vary from one 
agreement to another (Table 3.8). The preferential tariffs applied to the quotas range from 0% to 
2.2%. The highest preferential tariff s are for sugar confectionery not containing cocoa (chewing 
gum) under the quota agreed with Colombia (ECA No. 59), for which the in -quota tariff is 0%, the 
preferential tariff is 10% and the MFN tariff is 20%. The tariff applied to the quota for tricycles  and 
scooters from Cuba is also 0%, while the preferential tariff and MFN tariff are both 35%. It seems, 
however, that these quotas are not used.  
Table  3.8 Products subject to preferential tariff quotas, 2020  
Agreement  HS code  Product  
Peru (ECA 58)  HS 5209  Woven fabrics of cotton  
Colombia (ECA 59)  HS 1704  Sugar confectionery not containing cocoa (chewing gum)  
HS 8708  Other parts and accessories of motor vehicle bodies (including cabs): 
other than seatbelts   
HS 8711 Motorcycles: with reciprocating internal combustion piston engine of a 
cylinder capacity not exceeding 50  cc 
Cuba (ECA 62)  HS 1604  Prepared or preserved fish (tunas)  
HS 9503  Tricycles, scooters, etc.  
Colombia (ECA 72)  HS 1704  Sugar confectionery (including white chocolate), not containing cocoa  
HS 1806  Chocolate and other food preparations containing cocoa  
HS 3808  Insecticides, etc. (with methyl bromide)  
HS 3923  Articles for the conveyance of goods, of plastics (bottles)  
HS 8702  
HS 8703  Vehicles (with only internal combustion piston engine)  
HS 8708  Parts of motor vehicles (mudguards)  
Source:  WTO Secretariat, based on data provided by the authorities.  
3.1.3.3   Tariff preferences68 
3.39.  Argentina confers tariff preferences under the various trade agreements it has negotiated, 
either as a MERCOSUR member or bilaterally. Under most of the agreements, the tariff preferences 
applied in 2020 covered 90% of all tariff lines. The exceptions were the agreements with Mexi co 
(50.8%), Cuba (25.6%), SACU (14.0%) and India (9.3%). The average preferential tariff applied 
ranges from 0% for the Plurinational State of Bolivia, Chile and Peru to 10.7% for India and 10.2% 
for SACU. The average preferential tariffs applied to agricu ltural products are less than or equal to 
those applied to non -agricultural products in all cases except for Peru (Table  3.9). 
Table  3.9 Analysis of the tariffs applied to countries with which trade agreements have 
been signed,  2020  
 Number of 
preferential 
lines  Preferential 
part of the 
tariff (%)  Total  WTO categories  
Agricultural products  Non-agricultural 
products (including 
petroleum)  
Average 
(%) Duty -free 
lines (%)  Average 
(%) Duty -free 
lines (%)  Average 
(%) Duty -free 
lines (%)  
MFN  - 11.4 9.1 10.4 8.3 11.5 9.2  
        
Mexico (ECA 6)  5,223  50.8 7.1 42.1 6.7 21.1 7.2 44.5 
Chile (ECA 35)  9,330  90.8 0.0 100.0  0.0 100.0  0.0 100.0  
Bolivia (ECA 36)  9,330  90.8 0.0 100.0  0.0 100.0  0.0 100.0  
Peru (ECA 58)  9,317  90.7 0.0 99.8 0.2 99.0 0.0 99.9 
 
66 WTO Document G/MA/374 of 15 September 2020.  
67 Information provided by the authorities.  
68 The preferential tariff used in this analysis is based on the Harmonized Commodity Description 
and Coding System (HS) 2007.  WT/TPR/S/412 • Argentina  
 
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  Number of 
preferential 
lines  Preferential 
part of the 
tariff (%)  Total  WTO categories  
Agricultural products  Non-agricultural 
products (including 
petroleum)  
Average 
(%) Duty -free 
lines (%)  Average 
(%) Duty -free 
lines (%)  Average 
(%) Duty -free 
lines (%)  
Colombia (ECA 59)  9,113  88.7 0.5 92.9 0.2 98.5 0.5 92.3 
Ecuador (ECA 59)  9,082  88.4 0.6 91.1 0.1 99.2 0.7 90.1 
Venezuela (ECA 
59) 9,082  88.4 0.6 91.1 0.1 99.2 0.7 90.1 
Cuba (ECA 62)  2,625  25.6 8.2 27.3 7.7 24.6 8.3 27.6 
Colombia (ECA 72)  9,148  89.0 0.3 94.2 0.1 99.5 0.4 93.5 
Egypt  9,121  88.8 6.8 27.5 5.9 14.7 6.9 29.0 
India 956 9.3 10.7 9.5 9.9 8.3 10.8 9.7 
Israel  9,072  88.3 1.1 70.1 0.4 77.8 1.2 69.3 
SACU  1,442  14.0 10.2 17.8 8.8 21.5 10.4 17.3 
Note: For this analysis, where the preferential tariff is higher than the MFN tariff, the MFN tariff was used 
to calculate the averages.  
Source:  WTO Secretariat calculations, based on data provided by the authorities.  
3.1.3.4   Tariff concessions  
3.40.  The Executive has the pow er to modify import duties on imports for consumption or to exempt 
such goods from import duties for various purposes, including: "(a) to ensure adequate income for 
the domestic workforce or to eliminate, reduce or prevent unemployment; … or (c) to promote , 
protect or preserve domestic production of goods and services, natural resources and animal and 
plant species".69 It was under those powers that in 2020, in response to the health emergency, 
Argentina temporarily exempted vaccines and disposable material  imported by the Ministry of Health 
from all import duties and from all other taxes, duties, contributions, fees and customs and port 
tariffs, as well as from value -added tax (VAT).70 
3.41.  Tariff concessions exist for some customs regimes, such as the Diplomati c Allowances Regime 
and the Re -importation of Goods Exported for Consumption Regime (Articles 529 and 566 of the 
Customs Code).  
3.42.  To promote clean new technologies and to support the development of a local industry, in 
2017 Argentina temporarily (for 36 months) reduced import duties on vehicles using 
hydrogen -fuelled hybrid engines, electric engines and fuel cells for a quota of 6,000 vehicles. A 
larger reduction is envisaged for vehicles imported under the Semi Knocked -Down and Complete 
Knocked -Down moda lities.71 
3.43.  In 2017, Argentina began implementing the Import Regime for Used Goods for the 
Hydrocarbons Industry. Under this regime, used goods can be imported with a tariff of between 0% 
and 14% – therefore below the applied MFN tariff rate – where the impo rter undertakes to purchase 
domestically produced goods (if the goods being imported are also produced locally) within two  years 
of the import certificate issue date.72 The percentage of the goods that must be purchased from the 
domestic market depends on the type of used goods imported and their age (Table  3.10).73 
Table  3.10 Goods and the domestic purchase requirement  
HS Age of the imported 
used good (in years, 
with respect to the year 
of manufacture)  Undertaking to purchase n ew 
goods of domestic origin with 
respect to the value of the 
imported used good  
8413.50.10; 8413.50.90; 8430.49.20; 
8474.10.00; 8479.82.10; 8479.89.99; 
8481.30.00; 8481.40.00; 8481.80.92; 
8481.80.93; 8481.80.99; 8502.13.19; 1 15 
2 15 
3 20 
4 20 
5 25 
 
69 Article 664 of Law No. 22.415 (Custo ms Code).  
70 Law No.  27541 of 21 December 2019.  
71 Decree No.  331/2017 of 11 May 2017.  
72 Online information. Viewed at: https://www.argentina.gob.ar/import ar-bienes -usados -para-la-
industria -hidrocarburifera . 
73 Decrees Nos. 629/2017 of 9 August 2017 and 555/19 of 9 August 2019.  WT/TPR/S/412 • Argentina  
 
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  HS Age of the imported 
used good (in years, 
with respect to the year 
of manufacture)  Undertaking to purchase n ew 
goods of domestic origin with 
respect to the value of the 
imported used good  
8705.20.00; 8705.90.10; 8705.90.90; 
8716.31.00; 8716.39.00  6 25 
7 40 
8 40 
9 60 
10 60 
8405.10.00; 8406.81.00; 8411.81.00; 
8411.82.00; 8412.21.10; 8412.21.90; 
8412.29.00; 8412.90.90; 8413.60.11; 
8413.60.19; 8413.60.90 ; 8413.70.10; 
8413.70.80; 8413.70.90; 8413.81. 00; 
8413.91.10; 8413.91.90; 8419.39.00; 
8419.40.20; 8419.50.10; 8419.89.99; 
8421.11.90; 8421.21.00; 8421.29. 90; 
8421.39. 90; 8428.90.90; 8430.41.20; 
8430.41.30; 8430.41.90; 8430.49.90; 
8431.43.10; 8431.43.90; 8474.39.00; 
8479.82.90; 8483.40.10; 8483.40.90; 
8483.50.10; 8483.50.90; 8501.51.10; 
8501.52.90; 8501.53.10; 8501.53.20; 
8501.53. 90; 8502.12.10; 8502.12.90; 
8502.13.11; 8502.20.11; 8502.20.90; 
8504.40.10; 8504.40.29  1 30 
2 30 
3 40 
4 40 
5 50 
6 50 
7 70 
8 70 
9 80 
10 80 
Source:  Decree No.  629/2017 of 9  August 2017.  
3.44.  Under the National Development Programme for the Use of Renewable Energy Sources for 
Electricity Production, capital goods, equipment, new components and inputs for renewable energy 
investment projects not produced in Argentina and needed to manufacture local goods were, until 
31 December 2017, exempt fr om import duties and all other duties, taxes and fees levied on imports 
(Table  3.11).74 
Table  3.11 Tax-exempt goods  
HS Description  
3919.90.00  Self-adhesive plates, sheets, film, foil, tape, strip and other flat shapes, of ethylene -vinyl 
acetate (EVA), whether or not in rolls  
3919.90.00  Self-adhesive plates, sheets, film, foil, tape, strip and other flat shapes, of polyethylene 
terephthalate ( PET), whether or not in rolls  
7007.19.00  Toughened (tempered) safety glass of a kind used in photovoltaic generators  
7208.51.00  Steel plate, of a width of 2,750 mm or more  
7208.52.00  Steel plate, of a width of 2,750 mm or more  
7208.90.00  Steel plate, of a width of 2,750 mm or more  
7326.19.00  Forged ring, of iron or steel, of a kind used to produce toothed wheels for wind turbine yaw 
systems (yaw ring)  
7326.90.90  Forged rings or lam inated forged rings having a rim size of 3,000  mm or more  
7409.31.90  Copper alloy strips ("Ribbon Busbar") of a thickness exceeding 0.15 mm, in coils  
7410.12.00  Copper alloy strips ("Ribbon Busbar") of a thickness exceeding 0.10 mm but not exceeding 
0.15 mm, in coils  
8410.11.00  Vertical -axis Kaplan turbines with double regulation, of a power exceeding 500 kW but not 
exceeding 1,000 kW  
8410.11.00  Hydraulic turbines, water wheels, and regulators therefor, of a power not exceeding 1,000  kW 
8410.12.00  Vertical -axis Kaplan turbines with double regulation, of a power exceeding 1,000 kW but not 
exceeding 1,200 kW  
8410.12.00  Hydraulic turbines, water wheels, and regulators therefor, of a power exceeding 1,000 kW but 
not exceeding 10,000 kW  
8412.90.90  Wind turbine blades used on wind turbines with a rated power exceeding 700 kW  
8412.90.90  Wind turbine hubs  
8419.89.99  Finned -tube heat exchangers, of a kind used for wind turbines  
8482.10.10  Double -row radial ball bearings, of a kind used in win d turbine blades  
8482.10.90  Single -row (four -point) angular -contact ball bearings  
8482.10.90  Double -row (four -point) angular -contact ball bearings  
8482.20.10  Tapered radial roller bearings  
8482.30.00  Spherical roller bearings  
 
74 Chapter IV of Law No. 27.191 of 23 September 2015.  WT/TPR/S/412 • Argentina  
 
- 74 - 
 
 HS Description  
8482.50.10  Cylindrical radial roller bearings  
8483.10.90  Transmission shafts, of a kind used for wind turbines  
8483.30.21  Bearings, whether or not with their housings, of a rim diameter exceeding 200  mm 
8483.40.10  Gear boxes, of a kind used for wind turbines  
8483.60.90  Flexible couplings, of a kind used to connect the gear box to the generator in wind turbines  
8483.90.00  Toothed wheels, of a kind used for wind turbine yaw systems  
8501.52.10  Back-geared multi -phase AC motors, of an output exceeding 750 W but not exceeding 75  kW, 
of a kind used to orient the yaw drive of wind turbines  
8501.64.00  AC generators (alternators), of an output exceeding 750 kVA, of a kind used in wind turbines  
8503.00.90  Wind turbine nacelle frames, of cast iron or steel  
8504.34.00  Dry-type transformers, having a power handling capacity exceeding 500  kVA 
8504.40.90  Inverters, of a kind used in photovoltaic generators, of an output exceeding 15  kW, for a DC 
input voltage not exceeding 1,300 V and an AC output voltage not e xceeding 2,000 V  
8504.90.40  Static converter accessories  
8505.19.90  Permanent neodyumium magnets (Nd -Fe-B), sintered  
8517.62.99  Remote -controlled machinery and plants  
8536.90.90  Junction boxes  
8537.10.20  Programmable logic controllers, of a kind used to control the movement of wind turbine 
nacelles  
8537.20.90  Switchgear (36 kV/20 kA) for connecting wind turbines to the electrical grid  
9015.80.90  Anemometers  
9027.10.00  Gas analysis apparatus  
Source:  Decree No.  814/2017 of 10 October 2017.  
3.45.  In 2016, Argentina reintroduced the Import Regime for Used Production Lines, which allows 
goods that are no more than 20 years old to be imported at a reduced tariff for use in complete and 
autonomous production lines.75 Goods imported for projects under this  Regime are subject to the 
equivalent of 25% of the import duties that would otherwise be due on the imported goods.76 
3.46.  Argentina still offers tariff concessions to promote certain economic sectors. In some cases, 
such concessions apply only to a specific q uota (Table  3.12).  
3.47.  Exemptions are also offered for imports under certain import regimes and procedures, 
including the temporary admission import regime, the in -factory customs procedure (RAF) and the 
free zone and special customs area regimes.  
Table  3.12 Other tariff concessions, 2020 and 2021  
Programme  Legislation  
Importation of a quota of 6,000 hybrid, electric and (hydrogen) fuel cell 
motor vehicles at reduced tariff rates  Decree No.  331/2017  
SIS Resolution 
No. 536/2017  
SI Resolution No.  28/2018  
Importation of a quota of 800 lorries that use conventional combustion 
engines and 200 chassis with gas engines for minibuses, with a partial tariff 
exemption  Decree No.  440/2019  
SI Resolution No.  128/2019  
Importation of liquid fuel (gas oil and petroleum spirits) (800,000  m³): 
exemption from tariffs (Law No.º23.966), Tax on Gas Oil (Law No. 26.028), 
Tax on Liquid Fuels (Law No. 27.591), Tax on Carbon Dioxide (Law No. 27.591) 
and any other specific tax impos ed on those fuels  Law No.  23.966/1991  
CPyCEPNIH Resolution 
No. 99/2013  
Law No.  26.028/2005  
Law No. 27.591/2020  
Importation of paper used to print newspapers, journals and publications of 
interest that promote culture, education and the dissemination of ideas: tariff 
exemption  Decree No.  635/1992  
SIC Resolution 
No. 439/1992  
SIC Resolution 
No. 722/2011  
Temporary import of capital goods: tariff exemption from the statistical tax 
and from VAT. Possibility to import temporarily equipment for  productive 
processes where it does not affect the domestic industry that manufactures 
the imported goods  Resolution No.  1/2015  
Decree No.  1001/82 
(Article  31) 
AFIP General Resolution 
No. 4.200/18 (Annex IV)  
Import Regime for Goods for Amateur Radio Oper ators: tariff exemption  Law No.  20.847  
 
75 Only companies in certain categories of the manufacturing industry are eligibl e for this regime 
(Article  3 of Decree No. 1174/2016 of 15 November 2016).  
76 Decree No. 1174/2016 of 15 November 2016 and Resolution No. 5 of 21 November 2016.  WT/TPR/S/412 • Argentina  
 
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  Programme  Legislation  
Decree No.  1030/04  
Regime for Motorcycles: tariff reduction for semi knocked -down motorcycles  Decree No.  81/2019  
Resolution No.  23/2019  
Import Regime for Used Goods: used goods and parts and components that 
are covered by the Resolution and are not exempt from the tariff payment 
under another regime shall be subject to an import duty calculated by 
increasing the applicable extra -zone impor t duty for the corresponding tariff 
line by 100%. The resulting rate shall not be less than 7% or greater than 
35%  Former MEyOSP Resolution 
No. 909/94  
Decree No.  406/2019  
Regime for Science and Technology Research: tariff exemption and 
exemption from oth er import -related duties  Law No.  25.613/2002  
National Development Programme for the Use of Renewable Energy Sources 
for Electricity Production (regime for investments for power -generation 
undertakings)  Law No.  26.190/2007  
Decree No.  562/2009  
Law No.  27.19 1/2015  
Regime to Promote the Argentine Naval Industry: 0% import duty on new 
inputs, parts and components for the construction, reconstruction, 
transformation and repair of vessels and floating structures in Argentina  Law No.  27.418/2017  
Decree No. 920/2018  
Source:  WTO Secretariat and information provided by the authorities.  
3.48.  The temporary admission procedure allows importers or manufacturers to import capital 
goods free of import taxes, but subject to the requirement that the goods be re -exporte d within a 
period of three years.77 The RAF is a variation of the temporary admission procedure, the difference 
being that, under the RAF, the goods imported can be used to produce goods marketed both in the 
export market and domestically. Payment of the c orresponding taxes does not take place until it is 
decided how the goods covered by the procedure will be used. If the product is eventually exported, 
import taxes are not paid.78 
3.49.  In response to the 2020 health crisis, Argentina temporarily abolished intra -zone import duties 
and the statistical tax for certain products that were essential to deal with the crisis caused by 
COVID -19. The measures will remain in place for the duration of the public health emergency 
(Table  3.13).79 
Table  3.13 Goods temporarily exempt from import duties (COVID -19), 2020  
HS 2017  Designation  Applied MFN 
tariff rate  
22071010  Having a water content of not more than 1  % by volume  20 
22071090  Other  20 
22072019  Other  20 
29051210  Propyl alcohol  2 
29051220  Isopropyl alcohol  12 
29349934  Nucleic acids and their salts  14 
29252929  Guanidium chloride and guanidinium thiocyanate  2 
30021229  Immunoglobins, of a kind used in COVID -19 test kits  2 
30021300  Immunological products, of a kind used in COVID -19 test kits  2 
30021490  Immunological products, of a kind used in COVID -19 test kits  2 
38089419  Other. Surface disinfectant for medical equipment and floors  14 
38089429  Other. Surface disinfectant for medical equipment and floors; alcohol -based 
gel 20 
38220090  Diagnostic reagents for in vitro  diagnosis of COVID -19 in humans  14 
39191010  Self-adhesive plates, sheets, film, foil, tape and strip, of polypropylene, of a 
kind used to manufacture COVID -19 test strips  16 
39199020  Self-adhesive plates, sheets, film, foil, tape and strip, of polyvinyl chloride, 
of a kind used to manufacture COVID -19 test strips  16 
39219019  Self-adhesive plates, sheets, film, foil, tape and strip, of nitrocellulose, of a 
kind used to manufacture COVID -19 test strips  16 
39262000  Gloves for medical use  18 
39269040  Laboratory or pharmaceutical items  18 
40151100  -- Surgical  16 
40151900  Gloves for medical use  16 
 
77 WTO Secretariat.  
78 Law No.  22415 (Customs Code); Decree No.  688/2002; Resolutions Nos.  14/2003 , 2338/2007 and 
58/2009; Decree No. 2722/2002; and Joint Resolutions Nos. 30/2010 and 2771/2010.  
79 Law No.  27.541 of 23 December 2019; Decrees Nos.  260 of 12 March 2020 and 333/2020 of 
2 April 2020.  WT/TPR/S/412 • Argentina  
 
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 HS 2017  Designation  Applied MFN 
tariff rate  
62101000  Of a kind used in surgery and medicine  35 
63079010  Nonwovens  35 
65050022  Of man -made fibres. Disposable hair nets  20 
65050090  Disposable  20 
70199090  Fibreglass -based sheets  12 
84131900  -- Other extracorporeal circulation pumps, of the type used to pump blood 
fluids or for hospital infusions  14 
84136019  Other extracorporeal circulation pumps, of the type used to pump blood 
fluids or for hospital infusions  14 
84213930  Oxygen concentrators for purifying air, of an output not exceeding 6  l/min 0 
90049020  Goggles  18 
90049090  Other safety face shields  18 
90181100  -- Electro -cardiographs  14 
90181210  Doppler ultrasound scanners  0 
90181290  Other ultrasound scanners  14 
90181300  -- Magnetic resonance imaging apparatus  0 
90181410  Positron emission tomography (PET) scanners  0 
90181420  Gamma chambers  0 
90181490  Other scintigraphic apparatus, parts and accessories thereof  14 
90181910  Endoscopy apparatus  0 
90181920  Audiometers  14 
90181980  Other electro -diagnostic apparatus  14 
90181990  Other parts of electro -diagnostic apparatus  14 
90183111  Plastic syringes, with or without needles, of a capacity not exceeding 2  cm3 16 
90183119  Other plastic syringes, with or without needles  16 
90183190  Other plastic syringes, with or without needles  16 
90183212  Tubular metal needles of a kind used with blood bags  2 
90183219  Other tubular metal needles for human medicine  16 
90183910  Needles for human medicine  16 
90183921  Sounds, catheters and cannulae, of rubber  16 
90183922  Arterial embolectomy catheters of poly(vinyl chloride)  2 
90183923  Thermodilution catheters of poly(vinyl chloride)  2 
90183924  Intravenous peripheral catheters, of polyurethane or of ethylene -
tetrafluoroethylene (ETFE)  16 
90183929  Other sounds, catheters and cannulae for human medicine  16 
90183930  Lancets for vaccination and cauterizing, for human medicine  16 
90183991  Articles for arteriovenous fistula, comprising needle, butterfly -type base for 
fixing, plastic tube with connector and valve  16 
90183999  Other instruments  16 
90189010  For blood transfusions or intravenous infusions  14 
90189092  Apparatus for measuring arterial pressure  16 
90189094  Endoscopy apparatus, parts and accessories thereof  0 
90189096  Automatic external defibrillators  0 
90189099  Other infusion pumps  16 
90192010  Oxygen therapy apparatus, parts and accessories thereof  14 
90192020  Aerosol therapy apparatus  14 
90192030  Artificial respiration apparatus  14 
90192040  Iron lungs  14 
90192090  Other apparatus and parts thereof  14 
90200010  Gas masks  16 
90200090  Other artificial respiration apparatus  16 
90219011  Automatic cardiac defibrillators  0 
90219019  Others (cardioverters)  0 
90251110  Clinical thermometers  18 
90251990  Others (clinical thermometers)  18 
94029020  Hospital beds with mechanical fittings  14 
94032000  - Other metal furniture (over -bed tables and bedside tables for hospital 
patients)  35 
94036000  - Other wooden furniture (over -bed tables and bedside tables for hospital 
patients)  18 
94037000  - Furniture of plastics (over -bed tables and bedside tables for hospital 
patients)  18 
Source:  Decrees Nos. 333/2020 of 2  April 2020, 455/2020 of 11  May 2020 and 745/2020 of 
14 September  2020.  WT/TPR/S/412 • Argentina  
 
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  3.1.4   Other charges affecting imports  
3.50.  During the Uruguay Round, Argentina bound its "other du ties and charges" at a level of 3%. 
In addition to tariffs, Argentina continues to charge a statistical fee, a verification -of-destination tax, 
VAT and internal taxes (or selective consumption taxes) on imports.  
3.51.  Permanent imports for consumption, except where goods originated in MERCOSUR or are 
marketed under other preferential agreements, are subject to an ad valorem  tax for the statistical 
services provided by the various agencies involved in the importation pro cess (statistical tax).80 The 
Executive may waive payment of the tax for specific activities for purposes such as conducting 
scientific research, promoting the use of technology or innovation, boosting economic development 
and creating jobs. Under certain regimes for the temporary import of capital goods, equipment may 
be imported temporarily for productive processes at a zero -rated statistical tax until 31 December 
2021 (Table  3.12).81 
3.52.  The tax base for the statistical tax is the customs value of the goods imported. During the 
period under review, the rate changed several times, increasing from 0.5% in 2013 to 2.5% in 
201982 and 3% in 2020 and 2021.83 
3.53.  In 2019, the maximum amounts for the statistical tax were updated.84 Consequently, the 
maximum amount charge d, based on the tax base, ranges from USD  180 to USD  150,000  
(Table  3.14) .85 These upper limits were initially set until 31  December 2020 and were later extended 
until 31  December 2021.86 According to the authorities, the amounts were modified "as a result  of 
the procedure … carried out before the WTO … to limit the ad valorem  percentage to the approximate 
cost of the statistical service rendered for the imports, a commitment was made to set an upper 
limit for the amounts charged for that service, as a resu lt of which it is necessary to maintain the 
maximum amount set in Decree No.  99/19 for the payment of that tax" .87 
Table  3.14 Maximum statistical tax payable, 2020  
Tax base  Maximum amount (USD)  
Not exceeding USD 10,000  180 
Between USD  10,000 and USD  100,000, inclusive  3,000  
Between USD  100,000 and USD  1 million, inclusive  30,000  
Greater than USD  1 million  150,000  
Source:  Decree No.  99/2019 of 27  December 2019.  
3.54.  Verification -of-destination tax is still levied when customs must carry out on -site controls to 
check that a specific import meets the requirements for receiving benefits. The tax base on which 
the verification -of-destination tax is levied is the customs v alue. The Executive has the power to set 
and adjust the tax rate, up to a maximum of 2%.88 
3.55.  Customs charges an exceptional service charge if the customs import controls are carried out 
on non -working days or outside normal hours.89 The rates depend on the o perations performed.90 
Local residents and tourists of any origin are exempt from paying the exceptional service charge if 
 
80 Article 762 of Law No. 22.415 (Customs Code) and amendm ents thereto.  
81 Article 765 of the Customs Code (Law No.  22.415). Decree No. 361/19 of 17 May 2019 set the 
statistical tax at 0% until 31 December 2019 for certain capital goods and for temporary admission for inward 
processing; Law No. 27.541 of 23 Decemb er 2019 and Decree No. 99/2019 of December 2019 (Article 22) 
extended this zero -rated tax until 31 December 2020; and Decree No. 1057 of 31 December 2020 extended it 
until 31 December 2021.  
82 Decrees Nos.  332/2019 and  362/2019.  
83 Article 49 of Law No.  27541 of 23 December 2019 and Decree No. 1057 of 31 December 2020.  
84 Decrees Nos.  332/2019 of 3 May 2019 and 99/19 of 28 December 2019.  
85 Article 20 of Decree No.  99/2019 of 28 December 2019.  
86 Decree No.  1057/2020 of 31 December 202 0. 
87 Decre es Nos.  332/2019 of 3 May 2019 and 99/19 of 28 December  2019. 
88 Article 767 of Law No. 22.415 (Customs Code) and amendments thereto.  
89 Articles 773 -774 of Law No. 22.415 (Customs Code) and amendments thereto.  
90 For more information on the fees charged, see: 
http://www.afip.gob.a r/serviciosextraordinarios/documentos/CUADRO -TARIFARIO -RG4639 -19-AFIP.pdf . WT/TPR/S/412 • Argentina  
 
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 they cross the border outside working hours and days. Customs may also charge a warehouse fee 
when it provides such services. The DGA  is responsible for setting and adjusting the fee.91 
3.56.  Importers must pay a one -off fee of USD  10 per import destination and/or operation, which 
is documented in the Malvina Computer System (SIM).92 
3.57.  VAT is levied both on Argentine -produced goods and on imported goods. The VAT tax base 
for imports is still the "normal price" plus import taxes (tariffs and other fees). Like in 2013, certain 
imported and Argentine -produced goods are VAT -exempt, as are im ports covered by special regimes 
and procedures and imports for charitable or educational work (Table 3.15). In 2020, in response to 
the public health emergency, imports of certain essential inputs were made exempt of VAT, 
extra-zone import duty and the st atistical tax.93 
Table  3.15 VAT-exempt products  
Products (domestic or imported)  
Printed books, brochures, leaflets and similar printed matter; newspapers, magazines and periodicals, in the 
entire distribution and marketing ch ain 
Ordinary natural water  
Milk without additives, where the purchasers are end consumers or exempt subjects  
Resale of medicines where tax was paid during the importation or manufacturing stage  
Passenger and/or cargo aircraft used for defence and security  
Vessels purchased by the State  
Products (imported)  
Goods imported free of import duties and subject to special regimes (clearance of passengers' baggage and 
personal effects; disabled pers ons; immigrants; Argentine scientists and engineers; diplomatic 
representatives accredited to Argentina; etc.)  
Goods imported by religious institutions  
Goods imported by public -benefit institutions for charitable medical work or for scientific and/or 
technological research carried out for academic or educational activities  
Source:  Decree No.  280/97 and amendments thereto.  
3.58.  VAT affects domestic and imported products and the rate is the same irrespective of the origin 
of the goods or services. The standard  rate remains 21%, albeit with certain exceptions. VAT on 
gas, electrical energy and water not used in homes, including holiday/summer homes, and vacant 
land is 27%. The Executive may reduce the general rate by up to half, so a special reduced rate of 
10.5% applies to certain products (and services). The list of products subject to this special reduced 
rate has remained largely unchanged since 2013, except for the addition of certain soya -related 
products (Table  3.16).94  
Table  3.16 Imported products subject to the special reduced rate of 10.5%, 2020  
Live poultry, rabbits, bovine animals, sheep, camelids, goats and swine, and their meat and edible offal, fresh, chilled 
or frozen  
Fruit, vegetables and garden prod uce, fresh, chilled or frozen  
Honey, in bulk  
Grains (cereals and oilseeds, excluding rice) and pulses (beans, peas and lentils)  
Wheat flour  
Bread, cookies, bakers' wares and/or pastry -cooks' products, and rusks and biscuits, made exclusively from wheat  
flour, not pre -packaged for marketing  
Hides of bovine animals, fresh, or salted, dried, limed, pickled or otherwise preserved, but not tanned, parchment -
dressed or further prepared, whether or not dehaired or split  
Solid residues resulting from the indu strial extraction of soya -bean oil  
Soya beans, denatured, deactivated, roasted, broken; any product resulting from sifting and cleaning and obtained 
from soya beans; soya -bean hulls; any mixture of the aforementioned products, irrespective of their commer cial form  
Propane, butane and liquefied petroleum gas  
Chemical fertilizers for agricultural use  
Capital goods, computer goods and telecommunications goods  
Source:  Article 28 of Decree No. 280/97 and amendments thereto. Information viewed at: 
http://servicios.infoleg.gob.ar/infolegInternet/anexos/40000 -44999/42701/texa ct.htm . 
 
91 Articles 775 -776 of Law No. 22.415/81 (Customs Code) and amendments thereto.  
92 AFIP General Resolutions Nos.  563/99 of 23 April 1999 and 4111/2017 of 24 August 2017.  
93 General Res olution No. 2937 of 7 October 2010, Decree No. 333 of 1 April 2020 and Resolution 
No. 4696 of 14 April 2020.  
94 Article 95 of Law No. 27.467 of 4 December 2018.  WT/TPR/S/412 • Argentina  
 
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  3.59.  Argentina continues to impose internal taxes (or selective consumption taxes), which affect 
sales and imports of certain goods, including alcoholic and non -alcoholic beverages; tobacco; motor 
vehicles and engines; vessels and aircraft for pleasure or sports; and electronic products. Goods 
imported under the special luggage regime are exempt from this tax.95 The list of products subject 
to internal taxes has not changed substantially since 2012, but some of the rates have increased 
(Table  3.17). The Executive may increase the rates by up to a quarter, reduce them or rescind them 
if the economic situation requires such action to be taken and the competent ministry submits 
reports supporting such action. Some products are subject to a minimum tax; other s are taxed only 
if the product is above a minimum selling price.  
Table  3.17 Internal taxes on goods, 2012 and 2020  
Product  Rate (%)a 
2012 (July)  2020  
Tobacco    
Cigarettes (minimum tax: ARS 68.56)  60 70 
Cigars (minimum tax: ARS 24.48)  16 20 
Cigarillos (minimum tax: ARS 48.97)  16 20 
Unmanufactured tobacco, stemmed, cut, loose, etc. (minimum tax: ARS 
97.94)  20 25 
"Rabillos", "trompetillas" and other articles of tobacco  16 70 
Alcoholic beverages with more than 10% alcohol by volume, wine excluded  20  
Whisky   26 
Cognac, brandy, pisco, gin, vodka, rum, Geneva, etc.  - 26 
Others, according to alcohol by volume:  
* 1st class: between 10% and 29% by volume and fractions thereof  - 20 
* 2nd class: 30% or more  - 26 
Beers (greater than 1.2% alcohol by volume)  8 14 
Craft beers produced by micro, small and medium -sized enterprises  .. 8 
Champagnes  12 .. 
Non-alcoholic beverages, syrups, extracts, concentrates and mineral waters   4-8 
Non-alcoholic beverages and syrups, extracts and concentrates used in their 
preparation  8 8 
Non-alcoholic beverages prepared with fruit juice (minimum 10%)  4 4 
Syrups prepared with fruit juice (minimum 20%)  4 4 
Mineral water  4 4 
Non-alcoholic drinks containing caffeine and taurine   10 
Diesel -engined motor vehicles and diesel engines  12.5 .. 
   
Motor vehicles, engines, vessels for pleasure or sports and aircraft  Nominal 
rate  Effective 
rate 
Motor vehicles and engines    
Selling price not exceeding ARS 1,363,724.59  Exempt  Exempt  
Selling price ˃ARS 1,363,724.59 but less than ARS 2,517,678.63  20% 25% 
Selling price ˃ARS 2,517,678.63  35% 53.85%  
Motorcycles    
Selling price not exceeding ARS  394,395.84  Exempt  Exempt  
Selling price ˃ARS 394,395.84 but less than ARS 505,635.70  20% 25% 
Selling price ˃ARS 505,635.70  30% 42.86%  
Vessels    
Selling price not exceeding ARS  1,764,708.87  Exempt  Exempt  
Selling price ˃ARS 1,764,708.87  20% 25% 
Aircraft (of any price)  20% 25% 
.. Not available . 
a Nominal rates, since the actual rates are the result of the inclusion in the tax base of the internal tax 
itself.  
Source:  Laws Nos. 24.674 of 26 August 1996; 27.430 of 29  December 2017; 27.467 of 4  December 2018; 
and 27.541 of 23  December 2019.  
3.60.  Internal taxes are levied on 130% of the value resulting from adding import taxes (customs 
duties and import charges) and the internal taxes themselves t o the customs value.96 Imports of 
 
95 Article 9 of Law No. 24.674 of 26 August 1996 and amendments thereto.  
96 Article 7 of Law No. 2 4.674 of 26 August 1996 and amendments thereto. The tax base of internal 
taxes is calculated as follows:  
Tbit = Tb × 1.3 × (1 + Er/100)  WT/TPR/S/412 • Argentina  
 
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 cigarettes are taxed on the domestic retail price, including internal taxes and additional cigarette 
taxes, with the exception of VAT. Internal taxes are levied only once during the marketing process; 
in the case of imports, they are levied dur ing inward clearance.  
3.61.  Argentina also levies other charges on sales and imports of liquid fuels and electrical energy 
and has maintained an additional emergency tax of 7% on cigarettes.97 In 2013, taxes on liquid 
fuels were on an ad valorem  basis, with a mi nimum amount. Starting in 2018, however, specific 
rates per litre were set, which are adjusted based on the consumer price index (CPI) (Table 3.18).98 
Hydrocarbons to be used for international transport and fisheries are exempt from this tax. The 
Executive  may charge a special fixed rate on certain fuels such as unleaded petrol and diesel when 
the products are to be used for consumption in border areas to correct for asymmetries caused by 
exchange rate fluctuations. In addition, a carbon dioxide tax was int roduced on liquid fuels in 2018 
(Table  3.18).99 Bulk purchases and imports of electrical energy by large -scale users or distributors 
are still subject to a tax (contribution) of ARS 0.0054686/kW  h, which is used to fund the National 
Electrical Power Fund.100 
Table  3.18 Taxes on imports of liquid fuels, March 2021a 
(ARS)  
 Liquid fuels tax  
Law No.  27430  
 Carbon dioxide tax  
Law No.  27430  
 
Updated fixed 
amount levied  Updated differential 
fixed amount levied  Updated fixed amount  
levied  
Petrol, up to 92 RON  20.798/litre   n.a. 1.274/litre  
Petrol, greater than 92 RON  20.798/litre   n.a. 1.274/litre  
Virgin naptha  20.798/litre  n.a. 1.274/litre  
Natural or pyrolysis gasoline  20.798/litre   n.a. 1.274/litre  
Solvent  20.798/litre  n.a. 1.274/litre  
Turpentine  20.798/litre   n.a. 1.274/litre  
Gas oil  12.826/litre  6.945/litre  1.463/litre  
Diesel oil  12.826/litre  6.945/litre  1.463/litre  
Kerosene  12.826/litre  6.945/litre  1.463/litre  
Fuel oil   n.a.  n.a. 0.481/litre  
Petroleum coke  n.a.  n.a. 0.517/kg  
Coal  n.a.  n.a. 0.398/kg  
n.a. Not applicable.  
a The amounts listed are for 12 March to 31 May 2021.  
Source:  AFIP (February 2021). Base period for update: fourth quarter of 2020. Viewed at: 
http://biblioteca.afip.gob.ar/cuadroslegislativos/getAdjunto.aspx?i=12148 . 
3.1.5   Import pro hibitions, restrictions and licensing  
3.1.5.1   Import prohibitions  
3.62.  Argentine legislation allows the authorities to prohibit imports (and exports) of goods for 
economic and non -economic reasons. Prohibitions for economic reasons seek to promote 
employment and domest ic production, stabilize prices and protect industrial property and 
consumers, among other aims (Article  609 of the Customs Code). Generally, prohibitions for 
economic reasons apply only to imports (and exports) for consumption (Article  613 of the Customs 
Code). Non -economic prohibitions are imposed to protect public health and safety, artistic heritage 
and the environment and to implement international treaties (Article  610 of the Customs Code).  
 
Where: Tbit = Tax base of the internal taxes; Tb = Tax base of the VAT; Te = Effective rate of the 
internal tax, which i s equal to (100 × Nr)/(100 − Nr), where Nr is the nominal rate of the applicable tax. 
Therefore, if the c.i.f. value is 100 and the tariff is 10% and the statistical tax is 3%, then Tb is equal to 1.13 × 
1.3 = 1.469. If the nominal rate of the internal tax  is 20%, then the effective rate is 25%. Therefore, Tbit = 
1.469 × 1.25=1.8363 (AFIP Decree No. 296/97 and AFIP General Resolution No. 3911/16).  
97 Laws Nos.  24.625 of 9  January 1996 and  27.730; and Decree No.  26/16.  
98 Law No.  27.430 of 29 December 2017.  
99 Article 10 of Law No. 27.430 of 29 December 2017.  
100 Law No.  15.336 of 22 September 1960 and amendments thereto; Article 70 of Law No.  24.065 of 
16 January 1992; and SE Resolution No.  1.872/05.  WT/TPR/S/412 • Argentina  
 
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  3.63.  Currently, Argentina prohibits imports only for non -economic reasons (Table  3.19). Argentina 
did not impose any economic prohibitions between 2013 and 2020.101 
Table  3.19 Import prohibitions, 2020  
Product  Administering agency  
Certain live animals and wild fauna and flora 
products and by -products (Convention on 
International Trade in Endangered Species of Wild 
Fauna and Flora)a DGA and Ministry of the Environment and Sustainable 
Development  
Narcotic drugs and psychotropic substances, 
except quantities necessary for medical and 
scientific research  Ministry of Health; DGA  
Ozone -depleting substancesb DGA and Ministry of the Environment and Sustainable 
Development  
Certain fertilizers, pesticides and related products  National Agriculture and Food Quality and Health 
Service; Ministry of Agriculture, Livestock and 
Fisheries  
Toxic or hazardous residues, waste or scrap  Ministry of the Environment and Sustainable 
Development; DG A 
Chemicals classified as persistent organic 
pollutants  Ministry of the Environment and Sustainable 
Development  
Raw cotton (not ginned)  National Agriculture and Food Quality and Health 
Service  
Products containing formaldehyde  Ministry of Health  
Used clothes (clothing and clothing accessories, 
and parts thereof, used)  Ministry of Productive Development  
Incandescent light bulbs for home use with a 
wattage greater than 25  W or a nominal voltage 
greater than 50  V. Ministry of Productive Development  
Certain chemical compounds, including 
polychlorinated biphenyls (PCBs)  Ministry of Health; Ministry of Agriculture, Livestock 
and Fisheries; Ministry of the Environment and 
Sustainable Development  
Ordinary zinc -carbon and manganese alkaline 
primary cel ls and primary batteries, in cylindrical or 
prism form, with a mercury content exceeding 
0.0005% by weight, a cadmium content exceeding 
0.015% by weight and a lead content exceeding 
0.200% by weight  National Institute of Industrial Technology (INTI)  
Food,  supplements and veterinary medicines that 
contain certain active ingredients in their 
formulation and are given to animals whose 
products and by -products are consumed by 
humans where they contain certain active 
ingredients  SENASA  
Certain live animals, wild fauna and flora products 
and by -products (other than those covered by the 
Convention on International Trade in Endangered 
Species of Wild Fauna and Flora)  SENASA; Ministry of the Environment and Sustainable 
Development  
Retreads and used tyr es, except remodelled tyres 
under tariff headings 4012.11.00, 4012.12.00, 
4012.13.00 and 4012.19.00  Ministry of Productive Development; Ministry of the 
Environment and Sustainable Development  
Electronic devices for smoking (electronic 
cigarettes)  Nationa l Drugs, Food and Medical Technology 
Administration   
Chemical weapons  Ministry of Foreign Affairs, International Trade and 
Worship; Ministry of Productive Development  
Conventional weapons and ammunition  Ministry of Defence  
a Prohibition, except under defined conditions.  
b Prohibition, except under defined conditions.  
Source:  WTO documents G/MA/QR/N/ARG/1/Rev.2 of 25 July 2018 and G/MA/QR/N/ARG/2 of 
10 February2021 . 
 
101 Information provided by the authorities.  WT/TPR/S/412 • Argentina  
 
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 3.1.5.2   Import licensing  
3.64.  Administering import licences remains one of the main components of Argentina's trade policy. 
During the period under review, Argentina changed its licensing policy on several occasions. In 2013, 
Argentina notified the WTO that it had only one type of automatic import licence; non -automatic 
import licences were abolishe d by Resolution No.  11/2013.102 In 2015, Argentina once again began 
using two types of import licensing regimes: automatic and non -automatic.103 
3.65.  All goods imported into Argentina for final consumption require either an automatic or a 
non-automatic import lic ence. The lists of products requiring each type of licence are updated as 
and when circumstances so require, rather than at predetermined intervals. Because of this policy, 
the number and types of products subject to non -automatic import licences often var y (Chart  3.3). 
For this reason, non -automatic licences were abolished for certain medical devices in response to 
the health situation in 2020.104 Since 2015, the lists of products subject to non -automatic licensing 
have been modified 26 times.105 These produ cts are normally listed in the annexes to the resolution 
establishing the import licensing regime. According to the authorities, "the products in the annexes 
are grouped according to the requirements for each product description". The Executive does not 
need legislative approval to modify the licensing regime.  
Chart 3. 3 Tariff lines subject to non -automatic import licensing, 2012 -20a 
 
 
 
a Data as at 31 December each year.  
Note:  No data are available for 2013 and 2014.  
Source:  WTO Secretariat calculations, based on data provided by the authorities.  
 
102 WTO Document G/LIC /N/3/ARG/11 of 24  September 2013.  
103 Ministry of Production Resolution No.  5/2015 of 22 December 2015.  
104 Regulation No.  5/2020 of 18 March 2020.  
105 WTO Documents G/LIC/N/2/ARG/27 of 10  March 2016; G/LIC/N/2/ARG/27/Add.1 to Add.6 of 
12 May2016  to 8 November 2 016; G/LIC/N/2/ARG/28 of 26  September 2017; and G/LIC/N/2/ARG/28/Add.1 to 
Add.8 of 8  December 2017 to 10  November 2020.  
6061,3841,628
1,594
1,194 1,1941,469
02004006008001,0001,2001,4001,6001,800
2012 2013 2014 2015 2016 2017 2018 2019 2020(Number of lines)WT/TPR/S/412 • Argentina  
 
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  3.66.  According to Argentina's notifications to the WTO, automatic and  non-automatic licences apply 
to goods of any origin; the licences do not limit the quantity or value of the im ports and are not used 
for administering quotas.  Automatic licensing is used to obtain statistical information; non -automatic 
licensing is used to pre -verify that the conditions for importing the different products have been met 
and to monitor and control imports.106 
3.67.  In 2020, non -automatic licences were required for 1,469 eight -digit HS tariff lines, or 14.3% 
of all tariff lines. This was a substantial increase on the numbers for 2012, when only 606  tariff lines 
(6% of the total) were subject to non -automati c licensing. The types of products affected by the 
measure have not changed substantially since 2012. Most non -automatic licences are still for 
textiles, machines and apparatus and basic metals (Table  3.20).  
Table  3.20 Tariff l ines subject to non -automatic import licensing, 2012 and 2020a 
HS sections  Number of 
linesb % of tariff lines in 
the HS Sectionb 
2012  2020  2012  2020  
Total  606 1,469  6.0 14.3 
1 - Live animals; animal products  - 9 - 1.7 
2 - Vegetable products  - 1 - 0.2 
3 - Animal or vegetable fats and oils  - - - - 
4 - Prepared foodstuffs; beverages, spirits and vinegar; 
tobacco and manufactured tobacco substitutes  - 26 - 8.3 
5 - Mineral products  - 4 - 1.9 
6 - Products of the chemical or allied industries  6 79 0.2 2.6 
7 - Plastics and articles thereof  14 45 3.3 10.5 
8 - Raw hides and skins, leather, furskins and articles thereof; 
saddlery and harness  10 14 8.8 12 
9 - Wood and articles of wood; wood charcoal  1 21 0.8 13.4 
10 - Pulp of wood or of other fibrous cellulosic material; paper 
and paperboard and articles thereof  35 28 15.8 12.6 
11 - Textiles and textile articles  238 654 23.5 61.9 
12 - Footwear, headgear, umbrellas, sun umbrellas, walking -
sticks, seat-sticks, whips, riding -crops and parts thereof; 
prepared  feathers and articles made therewith  34 34 48.6 48.6 
13 - Articles of stone, plaster, cement, asbestos, mica or 
similar materials; ceramic products; glass and glassware  21 28 9.7 12.9 
14 - Natural or cultured pearls, precious or semi -precious 
stones, precious metals  - - - - 
15 - Base metals and articles of base metal  34 74 4.6 10.0 
16 - Machinery and mechanical appliances; electrical 
equipment; and parts thereof  126 303 7.1 17.1 
17 - Vehicles, aircraft, vessels and associated transport 
equipment  30 72 14.0 31.3 
18 - Optical, photographic, cinematographic, measuring, 
checking or precision instruments and apparatus  3 9 0.7 2.0 
19 - Arms and ammunition; parts and accessories thereof  - 3 - 16.7 
20 - Miscellaneous manufactured articles  54 65 33.5 39.4 
21 - Works of art, collectors' pieces and antiques  - - - - 
- There are no lines subject to non -automatic import licensing.  
a Data at 31 December each year.  
b The year 2012 is in the HS 2012 nomenclature and the year 2020 is in the HS  2017 nomenclature, 
so the total number of tariff lines is different for each of the two years.  
Source:  WTO Secretariat calculations, based on data provided by the authorities.  
3.68.  Goods imported under certain import regimes do not require any kind of import licence.107 
Goods imported free of duties and taxes are also exempt from requiring an import licence.  
 
106 Resolution No. 5/2015 of 22  December 2015 and WTO documents G/LIC/N/3/ARG/14 of 
2 October  2018 and G/LIC/N/3/ARG/15 of 19  September 20 19. 
107 This includes permanent imports for consumption under regimes for samples, donations and 
diplomatic allowances; goods entering under the courier or postal item regime; imports of goods covered by 
the Import Regime for Science and Technology Research Input s; and imports of goods from the Isla Grande 
Tierra del Fuego Special Customs Area.  WT/TPR/S/412 • Argentina  
 
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 3.69.  Applications for automatic and non -automatic licences can be made all year round.  In 
January  2020, the validity of import licences was reduced from 180 to 90  calendar days after the 
date of their approval in the Comprehensive Import Monitoring System (SIMI).108 The purpose of 
the change, according to the authorities, is to adapt the val idity period of licences to ordinary 
foreign -trade operations and to make the system more efficient. This validity period may, for good 
reason, be extended by the implementing authority – currently (as of March 2021) the 
Under -Secretariat of Trade Policy a nd Management (SSPGC), which is attached to the Secretariat 
for Industry, the Knowledge Economy and Foreign Trade Management – at the request of the 
interested party at least 15  days before the licence expires.109 
3.70.  Automatic and non -automatic import licences  must be processed and presented before goods 
are cleared. It takes up to 10  days to obtain an automatic licence and up to 30 or 60  days to obtain 
a non -automatic licence.  
3.71.  Since 2015, automatic licences are processed through SIMI.110 Previously (before 2013 ), the 
regime required at least part of the application process to be done in person.111 To obtain this type 
of licence, importers must be registered in AFIP's Register of Importers and must submit the 
corresponding application form.112 Automatic licences ar e granted in all cases where the regulatory 
requirements are met.  
3.72.  Applications for non -automatic licences are also submitted through SIMI.113 To apply for a 
non-automatic licence, interested parties must also be registered in the Single Register of the 
Ministry of Production (RUMP) (the Ministry has since been renamed the Ministry of Productive 
Development)114 and must submit the import licence application form115 and, where applicable, the 
information indicated in the annexes to the resolution that lists the products subject to 
non-automatic licensing.116 Additional formalities are required for certain importers. For instance, 
before applying for a non -automatic import licence, importers of new bicycles (HS  8712.00) and new 
pneumatic bicycle tyres (HS  4011.50.0 0) and inner tubes (HS  4013.20.00), which are subject to 
technical regulations, must first obtain from SISCO either a document certifying that the product 
complies with the technical requirement, or a document certifying an exemption from that 
requirement,  as applicable. Furthermore, at any stage of the procedure the implementing authority 
may also: request additional information and/or documents from the importer; request the 
intervention of other competent technical bodies; obtain background information f rom its own 
sources or from third parties; and, where deemed necessary, require the importer to provide any 
clarifications that the implementing authority believes are relevant.117 According to the authorities, 
these requirements are based on relevance and compliance.  
3.73.  Non-automatic licences can be designated as "pending approval" if the importer does not meet 
the legislative requirements. Such a decision is subject to review if the importer appeals.118 
Otherwise, the importer may submit a new licence applicat ion. Argentina does not have information 
on the number of non -automatic licences not awarded for the period 2015 -19. In 2020 (August), 
80% of applications were approved within 48 hours. Only 1.3% of applications were pending, either 
due to errors in the in formation submitted, or because the products did not pass the controls required 
 
108 Resolution No. 1/2020 of 8 January 2020.  
109 Resolution No. 1/2020 of 8 January 2020 and WTO documents G/LIC/N/3/ARG/14 of 2  October 2018 
and G/LIC/N/3/ARG/15 of 19  Septemb er 2019.  
110 General Resolution No. 3823 of 21 December 2015 and General Resolution No. 4185 of 
8 January  2018.  
111 Information provided by the authorities.  
112 The import licence application form requires the following information: full name of the person or 
entity importing the goods; tax identification number (CUIT) of the importer or declarant, where appropriate; 
SIMI tariff heading/AFIP code; f.o.b. unit pri ce in US dollars; type and quantity of marketing units; total 
quantity in statistical units; brand; model/article; version (if applicable); condition of the goods; country of 
origin; and country of provenance (Annex I to Resolution 5 -E/2018 of 8  January 20 18). 
113 Resolutions Nos. 442/2016 of 8  September 2016 and 1/2020 of 8  January 2020.  
114 Resolutions Nos. 442/2016 of 8  September 2016 and 1/2020 of 8  January 2020.  
115 The information required to apply for a non -automatic import licence is as indicated in Annex  I to 
Resolution No. 523/2017. The page at http://www.afip.gob.ar/simi  provides the forms and documents required 
to carry out the formalities.  
116 See, for example, Annexes II to XIV of Secretariat for Industry, t he Knowledge Economy and Foreign 
Trade Management Resolution No. 1/2020 and amendments thereto.  
117 Resolution No. 523/2017 of 5  July 2017.  
118 Law No.  19.549 of 3 April 1972 (Law on Administrative Procedures).  WT/TPR/S/412 • Argentina  
 
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  to certify that: (i) the imported goods did not pose a threat to environmental, human or animal 
health; (ii) the imported goods complied with technical regulations enshrined in  national legislation; 
and (iii) there were no indications of trade diversions or under -invoicing of imports.119 
3.74.  A Sworn Declaration of Product Composition (DJCP) is required for imports (or for marketing 
domestically produced goods) of textile and footwear products to support the veracity of the 
information declared on the product labelling or marking. Since 2016, a DJCP has been required for 
products such as fabrics (cotton, silk, etc.), articles of apparel and clothing accessories, footwear, 
carpe ts and hats. A DJCP is required for imports of products covered by 963 eight -digit lines in 17 
different HS  2017 chapters,120 and a non -automatic import licence is required for 352 (or 36.6%) of 
those lines. In 2020, in response to the health emergency, Arg entina temporarily suspended the 
requirement to present a DJCP for certain types of clothing and hats.121 
3.1.6   Anti-dumping, countervailing and safeguard measures  
3.1.6.1   Anti-dumping and countervailing measures  
3.75.  Argentina has informed the WTO of its legislation on conti ngency measures and of updates to 
those measures.122 Argentina notified the WTO in 2019 that the authority responsible for initiating 
anti-dumping and countervailing measure investigations is the Secretariat for Industry, the 
Knowledge Economy and Foreign T rade Management (SIECYGCE),123 which is attached to the 
Ministry of Productive Development (MDP).124 The MDP's competences include being responsible for 
index prices, anti -dumping mechanisms and other instruments that regulate foreign trade.125 During 
the period under review, no investigation procedures were initiated under the Agreement on 
Subsidies and Countervailing Measures or the Agreement on Safeguards, but several investigations 
were initiated into alleged dumping.  
3.1.6.1.1   Legal framework126 
3.76.  The l egal framework relating to trade protection is governed mainly by Law No.  24.425 
of 5 January  1995 (adopting the Uruguay Round Agreements), Decree No.  766/1994 (establishing 
the National Foreign Trade Commission), Decree No.  1.393/2008 of 2  September  2008 (containing 
the procedural regulations for applying anti -dumping duties or countervailing duties), 
Decree  No. 1.219 of 2006 (containing the procedure applicable to  non-market economy and 
transition countries) and other resolutions and amendments.  
3.77.  The proce dures relating to dumping, subsidies and countervailing duties are also governed by 
the National Law on Administrative Procedures No.  19.549 of 27  April 1972 and the Administrative 
Procedures Regulations, Decree No.  1.759/72, as amended by Decree No. 894/2 017. Former 
Secretariat for Industry, Trade and Small and Medium -Sized Enterprises Resolution No. 293/2008 
regulates the submission of applications for the initiation of a dumping and/or subsidization 
investigation.  
 
119 Information provided by the authorities.  
120 The affected HS chapters are: SA 61 (132 tariff lines), SA 52 (127), SA 62 (119), SA 55 (117), 
SA 54 (91), SA 60 (81), SA 63 (63), SA 56 (61), SA 58 (42), SA 51 (30), SA 64 (29), SA 57 (26), SA 53 (17), 
SA 65 (10), SA 50 (8), SA 59 (8) and SA 94 (2) (Secretari at of Trade Resolution E 404/2016 of 
5 December  2016).  
121 Products included under tariff lines HS  6210.10.00 (garments, made up of fabrics of heading 56.02, 
56.03, 59.03, 59.06 or 59.07: of fabrics of heading 56.02 or 56.03), HS  6307.90.10 (other made up ar ticles, 
including dress patterns: of nonwovens), HS  6307.90.90 (other made up articles, including dress patterns: 
other), HS  6505.00.22 (hats and other headgear, knitted or crocheted, or made up from lace, felt or other 
textile fabric, in the piece (but no t in strips), whether or not lined or trimmed: hairnets of any material, 
whether or not lined or trimmed: of man -made fibres) (Secretariat of Domestic Trade Resolution No. 107/2020 
of 2 April 2020).  
122 WTO documents G/ADP/N/1/ARG/1 and G/SCM/N/1/ARG/1, of 1 2 June 1995; and WTO documents 
G/ADP/N/1/ARG/1/Suppl.1 -9 and G/SCM/N/1/ARG/1/Suppl.1 -8, of 22  September 2008.  
123 Decree No.  50/2019 of 20 December 2019.  
124 Decree No.  7/2019 of 11 December 2019.  
125 Decree No.  50/2019 National Government. Organizational struct ure. 
126 CNCE, "Dumping - secuencia de la investigación". Viewed at: 
https://www.argentina.gob.ar/cnce/procedimientos/dumping/secuencia -investigacion  and Decree 
No. 1.393/2008 of 2 September 2008.  WT/TPR/S/412 • Argentina  
 
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 3.78.  Argentina has a bifurcated system for th e determination of dumping and injury. This means 
that, like in other countries, determination of dumping or subsidization is separate from the 
determination of injury, since it is performed by a different technical body. The competent authority 
for the de termination of dumping margins or subsidization and for making recommendations on the 
initiation of an investigation or review is the SSPGC which, through the Directorate of Unfair 
Competition (DCD),127 is the entity responsible for carrying out the technic al analysis to determine 
the existence and margin of dumping and subsidization and for presenting the corresponding 
technical reports.128 The National Foreign Trade Commission (CNCE) established through Decree 
No. 766/94 is the body responsible for determin ing injury to the domestic industry by imports 
involving unfair competition (dumping and subsidies) and when the application of safeguard 
measures is assessed.129 The CNCE is also responsible for proposing provisional or definitive 
measures to alleviate inj ury.130 Based on DCD technical reports and CNCE records on determination 
of injury and causal link, the SSPGC submits a recommendation to the SIECYGCE with respect to 
the investigation.  
3.1.6.1.2   Procedures  
3.79.  Anti-dumping and subsidy investigations may be initiated at the request of the domestic 
industry131 (producing companies, chambers, federations and/or associations) or ex officio . Prior to 
the submission of the application, the SSPGC, through the DCD and the CNCE, provide, at the 
request of the interested parties, a nd within the limits of their respective areas of responsibility, a 
specialized information service.132 Once it has received the application, the SSPGC, through the DCD 
and the CNCE, have five days to draw attention to any errors or omissions so that the pe titioner can 
correct them.133 
3.80.  If there are no errors or omissions in the application or errors and omissions have been 
corrected, the CNCE shall report on the existence of a like domestic product and on the 
representativeness of the applicant within a perio d of 10 days. The SSPGC shall inform the CNCE 
and the petitioner whether the application has been accepted and, on the basis of the DCD's technical 
report, the SSPGC, through the DCD, shall examine the evidence of dumping within the following 
10 days and c ommunicate its conclusions to the CNCE. Once it has received the report, the CNCE 
has 10 days to undertake its determination concerning injury to the domestic industry and a causal 
link between the injury and dumping. Within three working days, the SSPGC s hall send the 
SIECYGCE its recommendation concerning the initiation of an investigation. The SIECYGCE must 
decide whether or not to initiate an  investigation within the following five days. The initiating 
resolution is published in the  Official  Journal or,  if the initiation is declared inadmissible, the 
SIECYGCE shall notify the applicant of the decision.  
3.81.  Once it has been decided that an investigation will be initiated, within 10 days the CNCE and 
the SSPGC, through the DCD, send out questionnaires to the p roducers, exporters and importers, 
which must submit their replies within 30 days. Within seven days of receiving the replies to the 
questionnaires, the CNCE and the DCD may request that any necessary clarification be provided 
within 10 days. The SSPGC mus t make a preliminary determination of dumping within 100 days of 
initiation. If the determination is positive, a copy is sent to the CNCE, which has 110  days from 
 
127 Annexes I(c), II and III(c) to Administrative Decision No. 1.080/2020.  
128 Information from the CNCE, "Dumping - secuencia de la investigación". Viewed at: 
https://www.argentina.gob.ar/cnce/pr ocedimientos/dumping/secuencia -investigacion ; and Decree 
No. 1.393/2008 of 2  September 2008.   
129 The CNCE consists of a Board of Directors composed of a Chair and four board members who are 
appointed for four years and can be removed from office only on se rious grounds. Information from the CNCE. 
Viewed at: https://www.argentina.gob.ar/cnce/autoridades . 
130 Under Article  3 of Decree No.  766/94, the CNCE has the following functions: (a)  to conduct 
investigations and analysis of injury to domestic production as a result of imports effected under conditions of 
unfair competition; (b)  to analyse the injury that a significant increase in imports might cause to domestic 
production and assess whether it is  appropriate to introduce safeguard measures; (c)  to analyse the aspect of 
injury to domestic production; and (d) to propose appropriate measures, whether provisional or final, to 
alleviate injury as set out in the foregoing paragraphs, including voluntary  price agreements, and to review 
them periodically and assess whether they should be continued.  
131 WTO documents G/ADP/N/1/ARG/1/Suppl.10 of 17 June 2020 and G/ADP/N/1/ARG/1/Suppl.11 of 
6 January 2021.  
132 Resolution No.  1.393/2018 of 2 September 2018 (Articl e 3). 
133 Information from the CNCE, "Dumping y Subvenciones". Viewed at: 
https://www.argentina.gob.ar/cnce/procedimientos/dumping/secuencia -investigacion . WT/TPR/S/412 • Argentina  
 
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  initiation to make a preliminary determination of injury to the domestic industry and issue a  report 
on the causal link between such injury and the dumping. It must present its findings to the SSPGC. 
The SSPGC then has five days to submit to the SIECYGCE its recommendation on whether or not to 
apply provisional duties, based on the CNCE's proposal  and taking into consideration general foreign 
trade policy and the public interest The SIECYGC shall, within a period of 10 days, present its 
recommendation to the Ministry, which must decide, within 20 days, whether it is appropriate to 
adopt provisional  measures. Provisional measures can take the form of a security and may be applied 
for a maximum period of four months, which may be extended in certain circumstances.  
3.82.  Preliminary determinations must be notified to the parties within 10  working days so tha t the 
parties can offer evidence. These submissions must be dealt with within the following 10  days. Once 
the period for the presentation of evidence has ended, the DCD and the CNCE shall provide 
notification of the essential facts which form the basis for  the decision on whether to apply definitive 
measures. These facts are made available to the interested parties for a period of 10  working days 
so that they may present their arguments.  
3.83.  The final determination of dumping or subsidization is made within 220  days of the initiation 
of the investigation; the CNCE must make a final determination of injury and of a causal link with 
the dumping or subsidization within 250 days of the initiation of the investigation. The CNCE presents 
its findings to the SSPGC, whi ch, within 10  days, must send the SIECYGCE a report recommending 
whether or not definitive anti -dumping or countervailing duties should be applied. The SIECYGCE 
has 10 days to report on whether it is appropriate to apply a definitive measure and refer its 
recommendation to the Minister, who must reach a decision within 20  days, issuing a resolution on 
whether or not to apply definitive anti -dumping or countervailing duties. The recommendation is not 
binding. The Minister may decide not to apply duties for r easons pertaining to general foreign trade 
policy and the public interest. The investigation must normally be completed within 10  months of 
initiation, but for complex technical reasons, the period may be extended to a maximum of 
18 months.  
3.84.  Anti-dumping an d countervailing duties, whether provisional or definitive, may be ad valorem  
or specific, or "minimum f.o.b. export values". The anti -dumping duty may not exceed the dumping 
margin. The amount of countervailing duties may not exceed the amount of the subs idy. 
Anti-dumping or countervailing duties should remain in force only for as long as is necessary to 
offset the dumping or subsidies and may last up to five years from their imposition or last review. A 
review may be carried out during their period of val idity or just before they expire. Furthermore, 
duties may be applied retroactively up to 90 days before the date of application of the provisional 
measures, though no earlier than the date of initiation of the investigation, provided that the specific 
requirements for doing so are met. All resolutions closing the investigation, whether or not 
anti-dumping or countervailing measures are adopted, are published in the Official Journal and 
communicated to all interested parties.  
3.1.6.1.3   Price undertakings  
3.85.  Argentina's legislation allows investigation proceedings to be suspended or terminated without 
the imposition of provisional measures or definitive duties where the exporter communicates that it 
will voluntarily assume satisfactory undertakings to revise i ts prices or to cease exporting at dumped 
prices so that the injurious effect of dumping is eliminated.134 Voluntary undertaking applications 
must be submitted to the SSPGC once the latter, through the DCD and the CNCE, have made the 
corresponding positive preliminary determination on dumping or subsidization, injury and a causal 
link between them. The SSPGC sends the request to the CNCE within two working days and, upon 
receipt of the application, both the DCD and the CNCE have five days to request any nece ssary 
clarifications, which must be provided within 10 days. Once that 10 -day period is over, the DCD and 
the CNCE each have 30 days to produce reports on the aspects for which they are responsible.135 
3.86.  Based on the two reports, the SSPGC submits its own rep ort on the undertaking to the 
SIECYGCE, in the light of other circumstances pertaining to general foreign trade policy and the 
public interest. The SIECYGCE has 10  days from receipt of the report to decide whether or not to 
 
134 Chapter V, Articles 33 -34 of Decree No.  1.393/2008 determine the conditions applicable to these 
undertakings.  
135 CNCE, "Dumping - secuencia de la investigación". Viewed at: 
https://www.argentina.gob.ar/cnce/procedimientos/dumping/secuencia -investigacion . WT/TPR/S/412 • Argentina  
 
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 recommend the acceptance of the undertaking and to submit its recommendation to the Minister, 
who must announce a decision on the recommendation within 15 days. Acceptance of an undertaking 
offered by an exporter is not mandatory. Even when an undertaking is accepted, the investigation 
may continue through all of its stages. If a negative determination of dumping or injury is made, 
the undertaking automatically lapses, except where the negative determination is due to the 
existence of the undertaking.136 The SSPGC is charged with monitorin g compliance with price 
undertakings that have been accepted and may require exporters to provide information relating to 
compliance at the intervals specified in the instrument of acceptance.  In the event of  non-compliance 
with an undertaking, an order sh all be issued for the immediate application of provisional measures 
on the basis of the best information available.  
3.1.6.1.4   Review of anti -dumping and countervailing measures  
3.87.  According to multilateral rules, two types of reviews exist: expiry reviews and changed 
circumstances reviews. These reviews can be initiated ex officio  or upon request by any interested 
party which submits positive information substantiating the need for a review.  
3.1.6.1.4.1   Changed circumstances reviews  
3.88.  Resolutions imposing both anti -dumping and countervailing duties may be reviewed for 
changed circumstances, either ex officio  or, if two years have elapsed since the establishment of the 
measure or the last review an d evidence has been provided that conducting the review is necessary, 
at the request of the interested party.137 "Interested parties" refers to domestic producers of the like 
product; producer associations; exporters; foreign producers; importers of the pro duct under 
review; any known associations of exporters, foreign producers and importers; and the government 
of the exporting Member. Other domestic and foreign parties may also be included as interested 
parties.138 
3.89.  In a changed circumstances review, it is n ecessary to analyse whether the continued 
imposition of the duty is necessary to offset dumping or whether it is necessary to modify the existing 
measure. The review must be concluded within eight months of its initiation. If, as a result of the 
review, it  is determined that the anti -dumping or countervailing duty is no longer warranted, it will 
be suspended.  
3.1.6.1.4.2   Expiry reviews  
3.90.  In an anti -dumping or countervailing duty or price undertaking expiry review, it must be 
determined whether expiry of the duty would be  likely to lead to continuation or recurrence of the 
dumping or subsidization and the injury.139 A review of an anti -dumping or countervailing duty owing 
to the expiry of its period of validity may be initiated ex officio  when there is sufficient evidence, or 
following a request for review submitted by or on behalf of the domestic industry, no later than three 
months prior to the end of the period of imposition of the anti -dumping or countervailing duty the 
termination of which it is wished to avoid.  
3.91.  An expi ry review should also normally be concluded within eight months of the date of its 
initiation. When deciding to initiate an anti -dumping or countervailing duty or a price undertaking 
expiry review, the SSPGC may decide whether it is also appropriate to car ry out a changed 
circumstances review. The duty may remain in force pending the outcome of the review.  
3.1.6.1.4.3   Investigations to determine circumvention  
3.92.  Decree No. 1.393/2008 contains provisions to regulate circumvention,140 which is defined as 
the exportation to A rgentina of parts and/or components of the product under investigation, 
assembled to produce a like product; the exportation to Argentina of a like product, produced by the 
 
136 CNCE, "Dumping - secuencia de la investigación". Viewed at: 
https://www.argentina.gob.ar/cnce/procedimientos/dumping/secuencia -investigacion . 
137 Articles 52 -54 of Decree No.  1.393/2008.  
138 CNCE, "Revisión de Dumping". Viewed at: 
https://www.a rgentina.gob.ar/cnce/procedimientos/revisiondumping . 
139 Articles 55 -58 of Decree No.  1.393/2008.  
140 Articles 59 -63. WT/TPR/S/412 • Argentina  
 
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  assembly of parts and/or components of the product under investigation or by some o ther operation 
effected in a third country; or any other practice which tends to undermine the remedial effects of 
the measure applied, reflecting in all cases a change in the characteristics of trade between third 
countries and Argentina as a result of a practice, process or activity for which there is no adequate 
cause or economic justification other than the imposition of the duty.  
3.93.  The determination of the existence of circumvention practices may be made at the request of 
the affected party, ex officio  or at the suggestion of the  SSPGC and/or the CNCE, on the basis of the 
main elements of information put together in the investigation or review concerning the measure 
being circumvented. Requests by interested parties shall contain reasonable evidence of th e alleged 
circumvention practice. The SSPGC, through the DCD and the CNCE, within the limits of their 
respective areas of responsibility, shall present their conclusions to the SIECYGCE within 120  days 
of the acceptance of the request. The SIECYGCE, for it s part, must submit its conclusions to the 
Ministry within 10 days of receiving the reports, and the Ministry will then make a decision within 
the following 20 days.  
3.1.6.1.4.4   Non-preferential origin certification  
3.94.  Former Ministry of Production and Labour Resolution No. 60/2018 harmonized the 
non-preferential rules of origin to be used to control imports that are subject to non -preferential 
trade policy measures.141 Article  6 of the Resolution states that goods subject to anti -dumping, 
countervailing or specific duties  or subject to safeguard measures must be accompanied by a sworn 
declaration of non -preferential origin for the purpose of certifying their origin at the time of clearance 
at the definitive import destinations. The importer must generate the declaration el ectronically 
through the Remote Formalities Platform (PTD).142 The declaration is free of charge.  
3.95.  In accordance with the provisions of Resolution No.  60/2018, this measure is intended to 
consolidate in a single body of rules the provisions applicable to the  certification of non -preferential 
origin for the purpose of declarations by importers. It is also intended to simplify the procedure 
required to complete the declaration.  
3.1.6.1.5   Investigations and application of measures  
3.96.  During the review period, Argentina regul arly submitted semi -annual reports to the 
Committee on Anti -Dumping Practices and the Committee on Subsidies and  Countervailing Measures 
in which it described actions taken under the two agreements.143 
3.97.  According to the WTO database, between the establishmen t of the WTO in 1995 and 
31 December 2020, Argentina initiated 394 anti -dumping investigations and imposed 278  measures. 
During this period, Argentina ranked fifth among  WTO Members with respect to the use of 
anti-dumping measures.144 Including the reimposition of measures for review purposes, Argentina 
imposed 410 definitive and 231 provisional anti -dumping duty measures between 1995 and 2020. 
Over the same period, it concluded 51 price undertakings.145 
3.98.  Between 2013 and 2020, Argentina  initiated 199 anti -dumping investigations, including 
reviews. The investigations involved a total of 27 trading partners, but mainly China, Brazil and 
India. The main industry targeted by the investigations was plastics and articles thereof (HS 
Chapter  39), followed by equipment parts (HS Chapter 84) in second place, and a wide range of 
goods including household appliances (HS Chapter 85) in third.  
 
141 Ministry of Production and Labour Resolution No. 60/2018 of 18  October 2018. Viewed at: 
https://www.boletinoficial.gob.ar/detalleAviso/primera/194179/2018101 9?busqueda=1 . 
142 Government of Argentina, "Trámites a distancia - TAD". Viewed at: 
https://www.argentina.gob.ar/jefatura/innovacion -publica/administ rativa/tramites -a-distancia . 
143 WTO documents of the series G/ADP/N and G/SCM/N.  
144 WTO, "Anti -dumping Measures by Reporting Member 01/01/1995 - 31/12/2020". Viewed at: 
https://www.wto.org/ english/tratop_e/adp_e/adp_e.htm  and 
https://www.wto.org/english/tratop_e/adp_e/AD_MeasuresByRepMem.pdf . 
145 National Foreign Trade Commission,  Informe Anual 2019 . Viewed at: 
https://www.argentina.gob.ar/sites/default/files/informe_anual_cnce_ -_2019_06.08.2020_final_2.pdf , 
updated in 2020 with information from the W TO semi -annual reports: WTO documents G/ADP/N/342/ARG of 
21 August 2020, G/ADP/N/350/ARG of 19 March 2021 and G/ADP/N/350/ARG/Corr.1 of 23  March 2021.  WT/TPR/S/412 • Argentina  
 
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 3.99.  During the period under review, Argentina continued to actively use anti -dumping measures. 
Between 2013 and 2020, Argentina imposed 151  definitive anti -dumping measures, including 
reviews, and accepted nine price undertakings (Table 3.21).146 Between 2013 and 2020, 
41 anti-dumping investigations – or 21% of those initiated during the period – were concluded 
without the imposition of duties, while 15  reviews were concluded without the imposition of duties.  
Table  3.21 Anti-dumping measures, 2013 -20 
 2013  2014  2015  2016  2017  2018  2019  2020  Total  
Initiations (including reviews)  25 20 16 40 17 29 24 28 199 
 New investigations  19 6 6 23 9 19 17 6 105 
 Reviews  6 14 10 15 8 10 7 22 92 
 Circumvention  0 0 0 2 0 0 0 0 2 
Definitive duties imposed  12 16 29 12 19 23 26 14 151 
 New measures  9 10 11 1 3 13 13 11 71 
 Measures imposed by the 
sunset and/or changed 
circumstances review  2 5 16 11 15 9 11 2 71 
Application of provisional 
duties  1 2 3 5 1 3 11 2 28 
Investigations suspended due 
to price undertakings  1 1 2 0 1 1 2 1 9 
Investigations concluded 
without the imposition of 
duties  6 6 0 5 7 12 5 1 41 
Reviews concluded without 
the imposition of duties  1 10 0 0 0 1 2 1 15 
Revocation of measures due 
to their expiry  8 7 5 3 1 3 7 10 44 
Source:  WTO Secretariat, CNCE and Argentina's semi -annual reports.  
3.100.   Based on information provided by the CNCE and the semi -annual reports to the WTO, there 
were 114 definitive and one provisional anti -dumping measure in place in March 2021 (Table  A3.2). 
This compares with 85 definitive and one provisional anti -dumping meas ure in November 2012, 
according to the previous review report. In March 2021, definitive measures were being applied to 
24 trading partners, especially China (55% of measures), Brazil (12%) and India (5%).147 Most of 
the anti -dumping duties were applied to plastics and articles thereof (HS Chapter 39), machinery 
and mechanical appliances (Chapter 84), electrical equipment (Chapter 85), tools and cutlery of 
base metal (Chapter 82) and vehicles other than railway or tramway rolling -stock, and parts and 
accesso ries thereof (Chapter 87). In March 2021, Argentina was also applying provisional measures 
to measuring tapes from India (Table  A3.3).  
3.101.   The value of imports in the dumping cases investigated ranged from USD  686 million to 
USD 958 million per year between 20 13 and 2019 , accounting for between 1.2% and 1.7% of total 
imports (Table  3.22). The composition by sector of the imports affected by the measures also varied, 
with the proportion of measures applied to consumer goods increasing over the period and the 
percentage applied to intermediate goods decreasing.  
 
146 National Foreign Trade Commission, Informe Anual 2018 , and information from the CNCE. Viewed at: 
https://www.argentina.gob.ar/cnce/publicaciones/informeanual  and 
https://www.arg entina.gob.ar/sites/default/files/01._medidas_vigentes_al_02.01.2020.xlsx . 
147 Bangladesh (1), Brazil  (14), Chile (2), China (64), Chinese Taipei (1), Colombia (1), Germany (1), 
India (5), Indonesia (2), Italy (3), Republic of Korea (3), Malaysia (2), Mexico  (2), Oman (1), Peru (1), 
Philippines (1), Slovakia (1), Spain (1), Sri Lanka (1), Sweden (1), Thailand (3), Turkey (1), United States (1)  
and Viet Nam (1). Price undertakings are included.  WT/TPR/S/412 • Argentina  
 
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  Table  3.22 Anti-dumping measures: share of total imports involved. Cases involving 
decisions adopted and measures in force, 2013 -19 
(USD million and %)  
 2013  2014  2015  2016  2017 2018  2019  
Total value of imports affected by 
anti-dumping measures imposed during 
the year (USD million)  914.7  736.7  685.9  750.0  937.8  957.7  819.3  
Percentage of total imports  1.3 1.2 1.2 1.4 1.4 1.5 1.7 
Share by category of goods         
Consumer goods  28 29 34 37 36 35 37 
Intermediate goods  50 48 42 38 37 42 41 
Parts and accessories of capital goods  8 5 5 7 7 6 5 
Capital goods  14 18 19 18 20 17 17 
Total 100 100 100 100 100 100 100 
Source:  WTO Secretariat; CNCE, Informe Anual  (various issues). Viewed at: 
https://www.argentina.gob.ar/cnce/publicaciones/informeanual . 
3.102.   Argentina has applied three countervailing measures  since the creation of the WTO, all before 
the year 2000. The three measures were last renewed in 2004. During the review period no new 
countervailing measure was applied nor was any investigation initiated.148 No countervailing 
measures are currently in pl ace. 
3.103.   In total, 92 reviews of anti -dumping measures were carried out between 2013 and 2020, of 
which 46 were expiry reviews, five were changed circumstances reviews and 41 were expiry and 
changed circumstances reviews. Definitive measures were applied after  71 of those reviews, while 
no definitive duties were imposed after 15 of them. In addition, 44 definitive measures were revoked 
without review during the same period after the review deadline expired. Of the two circumvention 
investigations carried out du ring the same period, one resulted in definitive measures being imposed, 
while the other concluded with no measures imposed because no circumvention existed.149 
3.1.6.2   Safeguard measures  
3.104.   Argentina has notified the  WTO of its legislation, which Members reviewed in 1996 -97.150 
During the period under review, no substantial changes were made to the general legal framework 
of global safeguards, which consists of the WTO Agreements, adopted by Law No. 24.425 of 1994, 
and safeguard regulations (Decree No.  1.059 of 24  September 1996).  
3.105.   The MDP is the implementing authority for safeguard measures. Applications for the initiation 
of a safeguard investigation must be filed with the SIECYGCE together with an adjustment plan for 
the domestic industry in question.151 Applications must be made by or on behalf of the domestic 
industry that is alleging that serious injury was caused by the increase in the imports in question.152 
The Secretariat for Industry, the Knowledge Economy and Foreign Trade Management refers the 
matte r to the SSPGC and the CNCE, which, as set out in Decree No. 1.059/1996, have 50  days to 
produce their respective reports.153 
3.106.   On the basis of the two institutions' respective reports, the Secretariat for Industry, the 
Knowledge Economy and Foreign Trade Management has 20  days to decide, in the light of public 
interest and overall economic policy considerations, whether it is appropriate to initiate an 
 
148 Information from WTO, "Statistics on subsidies and countervailin g measures". Viewed at: 
https://www.wto.org/english/tratop_e/scm_e/scm_e.htm . 
149 WTO Document G/ADP/N/308/ARG of 16  February 2018.  
150 WTO documents G/SG/N/1/ARG/3 of 13  January 1997, G/SG/Q1/ARG/4 of 23  December 1996 and 
G/SG/Q1/ARG/9 of 20  August 1997.  
151 The adjustment plan must also be accompanied by a clear quantification of the proposed goals and a 
time frame to enable the Under -Secretariat to monitor their attainment.  
152 Article 2(k) of Decree No. 1059/1996 of 19 September 1996 states that "domestic industry" refers to 
the producers as a whole of the like or directly competitive products operating within the national territory or 
those whose collective output of the like or directly competitive products constitutes at least 30% of the total 
domestic production of those products.  
153 CNCE, "Salvaguardia - secuencia de la investigación". Viewed at: 
https://www.argentina.gob.ar/cnce/procedimientos/salvaguardia/secuencia -investigacion . Decree 
No. 1.059/1996. Title II, Articles 7 -13. WT/TPR/S/412 • Argentina  
 
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 investigation. The initiation of the investigation is published in the Official Journal. An investi gation 
may not generally last longer than nine months from the date of its initiation. In exceptional 
circumstances, this period may be extended by a maximum of two months. If provisional measures 
are applied, which may only take the form of an increase in  import duties, the investigation may not 
take more than 200  days.  
3.107.   If the final reports by the CNCE and the SSPGC recommend applying a measure, the 
SIECYGCE shall, within 10 days of receiving the interested parties' observations, invite 
representatives of WTO Members having a substantial interest as exporters of the product under 
investigation to hold consultations to exchange views on the possible measure to be applied. Based 
on the positive reports from the CNCE and the SSPGC and the results of consultati ons with exporting 
countries, the SIECYGCE shall make a recommendation to the MDP on whether or not a safeguard 
measure should be adopted. The MDP shall decide whether to apply the safeguard measure. 
Although the determinations of the CNCE and the SSPGC ar e the technical basis for the application 
of a safeguard measure, positive determinations are not binding on the MDP, which, in its own 
determination, must also consider circumstances pertaining to general foreign trade policy and the 
public interest.  
3.108.   Definitive safeguard measures may take the form of an increase in import duty, a 
quantitative restriction, or any other measure. Generally, the duration of a definitive safeguard 
measure is limited to the period necessary to prevent or remedy any injury or thr eat of injury and 
to facilitate the adjustment of the domestic industry affected.  Such measures may last up to four 
years, including the time during which any provisional measure was applied, and the measures may 
be reviewed. The initial period may be exte nded if this is deemed necessary to prevent or remedy 
injury or threat of injury and there is sufficient evidence to show that the domestic industry is 
carrying out the proposed adjustment. The total period of application of a safeguard measure, 
including the application of a  provisional measure and any extension thereof, may not exceed eight 
years.  
3.109.   Argentina did not initiate any new safeguard investigation during the period under review.154 
According to the WTO database, between the establishment of the WTO  in 1995 and mid -2020, 
Argentina had initiated six safeguard investigations and applied four definitive measures.155 As at 
March 2021, Argentina was not applying any safeguard measures.  
3.1.7   Other measures affecting imports  
3.110.   In Argentina, a price equalization tax  may be levied on imports for consumption, in order to: 
prevent injury to domestic production and commercial activities; ensure reasonable prices for the 
national product on the domestic market; and/or safeguard the balance of payments.156 The price 
equaliz ation tax is a specific amount equal to the difference between a base price and a comparison 
price.157 The tax may be applied in addition to tariffs, or as a maximum158 or a minimum159 of the 
 
154 Investigation initiated on 8 June 2006 on recordable comp act discs (CD -R), with specific duties 
imposed on 30 May 2007. These measures expired in May 2010.  
155 Information from the WTO, "Statistics on safeguard measures". Viewed at: 
https://w ww.wto.org/english/tratop_e /safeg_e/safeg_e.htm . 
156 Article 673 of Law No.  22.415 (Customs Code).  
157 The base price and comparison price are defined in Articles  676 and 677, respectively, of the 
Customs Code. The base price may be: (a) the price paid or paya ble for the goods or, failing that, for identical 
or like imported goods; (b) the customs value of the goods imported for consumption; (c) the current 
international market price of the goods; (d) the price usually agreed for imports into the customs territ ory of 
identical or like goods from certain representative supplier countries; or (e) the ex -factory price of the 
goods  calculated from the cost of production (Article  676 of the Customs Code). The comparison price may be: 
(a) the selling price on the dome stic market of the customs territory of identical or like goods, whether 
domestic or foreign; (b) the selling price on the domestic market of third countries; (c) the current 
international market price of the goods; (d) the customs value of the goods; (e) the customs value of the 
goods plus the amounts determined by the regulations; (f) the price usually agreed for imports into the 
customs territory of identical or like goods; or (g) the ex -factory price of the goods calculated from the cost of 
production ( Article  677 of the Customs Code).  
158 The amount of the price equalization tax is compared with that corresponding to the import duty and 
the lower amount is paid.  
159 The amount of the price equalization tax is compared with that corresponding to the import d uty and 
the higher amount is paid.  WT/TPR/S/412 • Argentina  
 
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  tariff, or as a substitute thereof (that is to say, only the price equalization tax is paid).160 Imports of 
beet or cane sugar and chemically pure sucrose, in solid form (HS  1701.12.00, 1701.13.00, 
1701.14.00, 1701.91.00 and 1701.99.00), are in principle subject to  the price equalization tax, 
regardless of the circumstance s.161 However, the authorities have pointed out that during the review 
period Argentina did not make use of the price equalization tax.  
3.2  Measures Directly Affecting Exports  
3.2.1   Customs procedures and requirements  
3.111.   The procedures for exports and imports are regula ted by the Customs Code (Law 
No. 22.415) and its implementing Decree (No.  1001/1982) and by specific regulations.162 
3.112.   Exporters and importers must complete a one -off registration with Argentina's Register of 
Exporters and Importers and with other special cus toms registries. The registration requirements 
are different for natural and legal persons.163 
3.113.   The customs broker registers and officially records the destination of exports in the SIM.164 
Nevertheless, a customs broker is not required where the exporter (or  importer) completes the 
formality in person at the customs office.165 It is also possible to register a notice of embarkation 
(aviso de carga ) electronically and to present the export declaration and other mandatory and 
additional documentation to the Cust oms Service. It is mandatory to submit the list of goods, which 
becomes a sworn declaration. Once the export declaration has been submitted, it is assigned to the 
green, amber (document inspection) or red (document and physical inspection) selection channe l. 
In addition to being assigned a channel, definitive exports for consumption may be selected for value 
control, based on a risk analysis and/or inspection or at the request of the various verification and 
valuation units, in which case they are sent to t he red channel for analysis.166 
3.114.   For export operations, the fee for operations documented through the SIM is USD  0.167 
3.115.   The VUCEA regime was first implemented in 2016 for managing and simplifying procedures 
related to declarations, permits, certifications, licences, authorizations and procedures required to 
carry out export operations.168 
3.116.   Exports of food, arms and ozone -depleting substances are subject to special procedures, 
such as the obligation to be entered in different registers (Table  3.23). In order to be exported, 
some products require a quality standards certificate (Table  3.24).  
Table  3.23 Registers for exporters, 2020  
Institution  Registration  
 Registers abolished  
SENASA  In 2019, Argentina abolished the register of exporters (and importers) of animals, 
plants, reproductive and/or breeding material, products, by -products and/or 
derivatives of animal or plant origin, or goods that contain ingredients of animal 
and/or plant origin among their c omponents, which had been created in 2001 to 
regulate products subject to certification and quarantine (Resolution No. 76/2019 of 
1 February 2019).a 
ANMAT/National 
Food Institute 
(INAL)  In 2017, the requirement to register goods produced exclusively for export in the 
National Register of  Food Products (RNPA)  was abolished (Order E -10100/2017 
of 21 September 2017).  
Since 2017, ANMAT no longer issues "Non -Intervention Notes" or Export 
Declarations and no longer uses the National Register of Export Establish ments or 
 
160 Customs Code, Article 678.  
161 Decree No.  797/92, ME Resolution No.  743/00 and Law No.  25715/2003.  
162 Resolution No.  1921/2005 of 4 August 2005 and amendments thereto.  
163 General Resolution No. 2570/2009 and Article 94(2)(a ) of the Customs Code.  
164 Resolution No.  1921/2005 of 4 August 2005 and amendments thereto.  
165 Article 37 of the Customs Code (Law No.  22.415).  
166 Article 2 of General Resolution No. 4161 -E of 23 November 2017.  
167 AFIP General Resolution No.  4.111/2017 of 24 A ugust 2017.  
168 Decree No.  1079/2016 of 6 October 2016.  WT/TPR/S/412 • Argentina  
 
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 Institution  Registration  
the National Register of Export Food Products for food products intended for export 
(Order E -10100/2017).  
Exporters of food products must now submit an "export notification", which does not 
have to be certified by INAL (Order E -10100/2017).  
If the  health authorities in the country of origin require a certificate, either to 
accompany an export or to register the product, the exporter must apply for a 
"Health Certificate for Exports".  
National Register of Establishments (RNE)  
In 2017, Argentina abo lished the certificate that the health authorities used to issue 
to food -production companies for their establishments registered in the National 
Register of Establishments (RNE) (Order E -10100/2017).  
Export Operations Register (ROE)  
In 2017, Argentina abolished the Red ROE created in 2006 (Resolution E -4170 of 
15 December 2017).  
 Sworn Declaration of Foreign Sales of Dairy Products (DJVEL)  
In 2016, Argentina established the procedure for the Sworn Declaration of Foreign 
Sales of Dair y Products (DJVELs) ( Joint Resolution s No. 101 of the Ministry of 
Agro-Industry, No. 69 of the Ministry of the Treasury and Public Finance and No. 84 
of the Ministry of Production, Official Journal of 30 March 2016) . 
The DJVEL was abolished in 2017 (Articl e 1 of Resolution No. 225 -E/2017 of 
25 August 2017).  
Secretariat for 
Agriculture, 
Livestock and 
Fisheries  Export Operations Register (Green ROE)  
Resolution No. 543/2008 established the Green ROE, which is required to export.  
Article 12 of Ministry of Agro -Industry, Ministry of the Treasury and Public Finance 
and Ministry of Production Joint Resolution Nos. 4/2015, 7/2015 and 7/2015 
abolished  the Green ROE. 
 Current registers  
Secretariat for 
Agriculture, 
Livestock and 
Fisheries  Register of Sworn Declarations of Foreign Sales (DJVE) (Green ROE)  
Required to export certain agricultural products.  
The Ministry of Agriculture, Livestock and Fisheries (M AGyP) establishes the 
procedure for DJVEs to be registered with the Under -Secretariat for Agricultural 
Markets. The list of products that require a DJVE has changed over time. The most 
recent provisions are contained in MAGyP Resolution No. 128/2019; Offic ial Journal 
of 15 November 2019.  
INV Register of Exporters of Grape and Wine Products  
Establishes the registration procedure and the procedure for processing export 
destinations for goods involving the INV (General Joint Resolution Nos. 31/2011 and 
3150/2011 of 27 July 2011).  
AFIP Wood Charcoal Exporters Register (RECAR)  
Since 2013, wood charcoal exporters must be register ed in the RECAR.  
National Directorate 
for the Control of 
Agricultural Trade  Single Register of Operators in the Food Processin g Chain (RUCA)  
(Resolution No. 21 -E/2017 of 23 February 2017)  
The RUCA was created in 2017. It replaced the Single Register of Operators in the 
Food and Agriculture Commercial Chain created in 2008, in which registration was 
mandatory for natural and legal  persons involved in the marketing chains for dairy 
products; grains; and live cattle, sheep, swine , horses, goats, poultry and the meat 
thereof (Resolution No. 7953/2008 of 1 December 2008).  
As was the case for the former register created in 2008, registr ation in the RUCA is 
mandatory for natural or legal persons involved in the trade and/or industrialization 
of agrifood chains, as well as for the establishments in which those persons conduct  
their activities, with the exception of primary agricultural production. The regulation s 
state that registration is mandatory for exporters (and importers) of grains; livestock 
and meat; dairy products; greasy, washed and/or combed wool; maté or 
by-products and derivatives; and sugar and/or alcohol, by -products and derivatives 
(Resolution No. 21 -E/2017 of 23 February 2017).  
Ministry of the 
Environment and 
Sustainable 
Development - 
Ozone Programme  Register of Importers and Exporters of Ozone Depleting Substances 
(RIESAO)  
Exporters (and importers) of ozone -depleting substances must be registered in the 
RIESAO.  
a Exports (or imports) of agricultural products require an Export Authorization Certificate(CAE) (or 
Import Authorization Certificate (CAI)), which requires the pro duct to be listed in the Register of 
Phytosanitary Products in the Argentine Republic (SAGPyA Resolution No. 350 of 30 August 1999).  
Source:  WTO Secretariat.  WT/TPR/S/412 • Argentina  
 
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  Table  3.24 Products requiring a quality standards certificate for exp ort, 2020  
Product  Institution  
Food for human consumption  INAL 
Nuclear elements and materials  National Atomic Energy Commission (CNEA)  
Medicines or products for human health purposes  ANMAT  
Narcotic drugs and psychotropic substances  ANMAT  
Flora and fauna  Ministry of the Environment and Sustainable Development  
Books and other printed matter and illustrations 
containing cartographic  material  National Geographical Institute (NGI)  
Source:  WTO Secretariat, based on WTO Document WT/TPR/S/277/Rev.1 of 14 June 2013.  
3.117.   In March 2020, in response to the health crisis, Argentina temporarily introduced an export 
permit169 for oxygen therapy apparatus and parts and accessories thereof (HS  9019.20.10)170 and 
for other products.171 Issued by the Ministry of Productive Development and also involving the 
Ministry of Health, the permit will be used until the end of the public heal th emergency.  
3.118.   During the period under review, Argentina implemented certain measures to facilitate export 
procedures, including a pilot scheme involving a digital certificate of origin for Argentine and Brazilian 
exporters172 and an electronic plant health transit document (DTV -e).173 Argentina also simplified 
the administrative customs procedures for exports of hides, skins or leather of bovine or equine 
animals.174 
3.119.   In 2017, also with a view to facilitate trade, Argentina removed exports of certain products 
from the Register of Export Operations (Red ROE)175 and abolished the procedure introduced in 2016 
for registering DJVELs for exports (Table  3.21).176 177 These measures reflected the need to 
streamline and simplify formalities in order to promote agro -industr ial exports. The purpose of 
accelerating and improving the effectiveness of procedures was to ensure freedom and equal 
opportunities in the markets.  
3.120.   Argentina still uses DJVEs to register exports of some agricultural products, with the goal of 
ensuring a m ore steady incoming flow of foreign currency and knowing in advance the projected 
volume of exports.178 Some of the products that require a DJVE are also subject to export duties.  
3.121.   The use of DJVEs was modified several times during the period under review. T his regime 
initially affected products such as grains and oils; later, the list of products was amended and certain 
products were exempted from the requirement (section  4.1). Modifications to the list of products 
subject to this requirement are carried out  mainly based on the volume of trade and the share of 
exports.  To simplify export procedures, this requirement was abolished in 2017 for certain products 
exported in small volumes, including certain grains, deactivated soya beans, turnips and flax.179 
Furthermore, in 2018, the DJVE requirement was suspended for exports of grains and oilseeds and 
their by -products, first temporarily180, then until further notice .181 182 Organic products were also 
exempted from this requirement by regulations passed in 2018.183 In late 2019, Argentina 
established the procedure for filing DJVEs.184 In December 2020, to protect the supply of maize used 
 
169 Law No.  27.541 and Decree No.  260/2020 and amendments thereto.  
170 Decree No.  301/2020 of 20 March 2020.  
171 Decree No.  317/2020 of 28 March 2020.  
172 AFIP Resolution No. 3942/2016.  
173 Resolution No.  4297/2018.  
174 AFIP General Resolution No. 4454/2019.  
175 Resolution No.  4170/2017.  
176 Article 1 of Resolution No. 225 -E/2017 of 25 August 2017.  
177 Resolutions Nos.  101, 69 and 84 of 30 March 2016.  
178 Law No.  21.45 3 of 8  October 1976 and amendments thereto (amended by 90 pieces of legislation) 
and Resolution No.  51/2018 of 9  April 2018.  
179 Rye, in bulk or in bags; oats, in bulk or in bags; clipped oats, in bulk or in bags; bajra, in bulk or in 
bags; safflower, in bul k or in bags; linseed oil, in bulk or crude; other linseed products; rapeseed or soya -bean 
cakes; and soya -bean cakes and expellers (Resolution No. 364 -E/2017 of 16 November 2017).  
180 Resolutions Nos. 249/2018 of 13  August 2018 and 290/2018 of 31  August 201 8. 
181 Resolution No. 307/2018 of 5  September 2018.  
182 Resolution No. 290/2018 of 31  August 2018.  
183 Article 4 of Resolution No.  94/2018 of 18  May 2018, Article  21 of Resolution No.  128/2019 of 
15 November 2019 and Law No.  25127 of 13  September 1999.  
184 Resolut ions Nos. 128/2019 of 14  November 2019 and 152/2020 of 21  July 2020.  WT/TPR/S/412 • Argentina  
 
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 as raw material, Argentina temporarily suspended issuance of DJVEs for all types of maize, except 
popcorn, that had been shipped before 1 March 2021. The purpose of the suspension was to ensure 
domestic supply during the summer months, when maize supply tends to run low. In January 2021, 
Argentina provisionally abolished this measure, but decided to continue monitoring maize exports  
to ensure the domestic supply of maize from the 2019 -20 harvest. For this reason, 2019 -20 maize 
DJVEs could not exceed 30,000  tonnes per day (Table  3.25).185 
Table  3.25 Amendments to the lists of products for which a DJVE must be submitted  
Legislation (ministry)  Summary  
Joint Resolution Nos. 4/2015 (Agro -
Industry), 7/2015 (Production) and 
7/2015 (Treasury and Public Finance) of 
28 December 2015a Sets out the requirements for filing DJVEs and the products for 
which a DJVE is required  
Joint Resolution Nos. 101/2016 
(Production), 119/2016 (Treasury and 
Public Finance) and 138/2016 (Agro -
Industry) of 5 May 2016  Establishes that exporters may file DJVEs for oats, barley, rye 
and wheat from the 2016 -17 harvest, whenever the Minist ry of 
Agro-Industry publishes the f.o.b. values for these products  
Joint Resolution No. 1 -E/2016 (Agro -
Industry, Treasury and Public Finance, 
Production) of 26 September 2016  Establishes that exporters may file DJVEs for maize, sorghum, 
sunflowers and soy a and their by -products from the 2016 -17 
harvest, whenever the Ministry of Agro -Industry publishes f.o.b. 
values for these products  
Joint Resolution No. 1 -E/2017 (Agro -
Industry, Treasury and Public Finance, 
Production) of 10 February 2017  Sets out the pro cedure for filing DJVEs and the products for 
which a DJVE is required  
Resolution No.  364-E/2017 ( Agro-
Industry ) of 16 November 2017  Abolishes the requirement for DJVEs for certain products 
exported in small volumes (rye, oats, millet, safflower, linseed 
oil, grapeseed oil, soya cakes, soya expellers, linseeds, colza 
and rapeseed)  
Resolution No.  128/2019 ( Agriculture, 
Livestock and Fisheries ) of 14 November 
2019  Sets out the procedure for filing DJVEs; the products for which a 
DJVE must be filed (HS headings 0713, 1001,1003, 1005, 1006, 
1007, 1008, 1101, 1107, 1201, 1202, 1204, 1205, 1206, 1507, 
1508, 1512, 1514, 2302, 2304, 2305 and 2306); and the 
procedure for paying export duties for some products for which a 
DJVE must be filed  
Resolution No.  196/2019 ( Agriculture, 
Livestock and Fisheries ) of 14 December 
2019  Temporarily suspends the filing of DJVEs  
Resolution No.  152/2020 ( Agriculture, 
Livestock and Fisheries ) of 17  July 2019  Sets out the products for which a DJVE must be filed  and the 
procedure for paying duties for some products for which a DJVE 
must be filed  
a Repealed by Article  18 of Joint Resolution  No. 1 -E/2017 of the Ministry of Agro -Industry, the Ministry 
of the Treasury and Public Finance and the Ministry of Productio n. 
Source:  WTO Secretariat, based on information provided by the authorities.  
3.122.   Argentina has tried to simplify lower -value exports by implementing the Simplified Export 
Regime (known as " Exporta Simple "). The purpose of the Regime is to simplify export proc edures 
for operations by unregistered exporters with an f.o.b. value not exceeding USD 15,000, up to an 
annual limit of USD 600,000, thanks to logistics operators registered with AFIP as Simplified Export 
Regime Logistics Operators.186 Previously, the Regim e was available only for domestic industry 
goods up to a certain weight limit, but the 300  kg weight limit and the restriction only to domestic 
industry goods were removed in 2019.187 
3.123.   It is still mandatory to bring foreign currency from exports into Argenti na and to liquidate it 
within an established timeframe. In 2016, the time limit for exporters to register foreign currency 
obtained from export operations (all sectors) was changed (from 365 to 1,825 calendar days). This 
requirement was abolished entirely in 2017,188 but then reinstated in 2019. The countervalue of 
 
185 Information online: 
https://www.magyp.gob.ar/sitio/areas/prensa/index.php?accio n=noticia&id_info=210110234753 ; 
https://www.magyp.gob.ar/sitio/areas/prensa/index.php?accion=noticia&id_info=201230140611 ; and 
Resolution No. 287 of 3 0 December 2020.  
186 Resolutions Nos.  4049-E/2017 of 12 May 2017 and 4458/2019 of 5  April 2019; and Directorate of 
Exports, Under -Secretariat for Trade Facilitation, Foreign Trade Secretariat, Exports.  
187 Information provided by the authorities.  
188 Secretariat  of Trade Resolution No. 242/2016 and Decree No.  893/2017 of 1  November 2017.  WT/TPR/S/412 • Argentina  
 
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  exports must therefore enter the country in foreign currency and/or be negotiated in the exchange 
markets in accordance with the conditions and time limits established by the Central Bank of 
Argen tina.189 The time limit for bringing foreign currency into Argentina and liquidating it is generally 
180 days from the shipment date of the goods; the time limit is shorter, however, for certain 
products and can also vary based on the type of operation (e.g. opera tions with related parties or 
under the Simplified Export Regime) and the value  exported (Table 3.26). Notwithstanding the 
aforementioned time limits, once an exporter has received the payment, the importer has five 
working days from the payment date to br ing the amount received into Argentina and to liquidate it 
in the exchange market.190 
Table  3.26 Time limits (from the shipment date) for bringing foreign currency into 
Argentina and liquidating it, 2020  
 Product/type of operati on Calendar days  
 Any type of operation   
(a) Durum wheat and other wheat (HS  1001.19.00 and HS  1001.99.00); barley and 
other barley in grains (HS  1003.90.10 and HS  1003.90.80), maize, except 
popcorn (HS  1005.90.10), grain sorghum (HS 1007.90.00); soya beans 
(HS 1201.90.00); flours and meals of soya beans (HS  1208.10.00); soya -bean 
oil (HS  1507.10.00 and HS  1507.90.19); edible preparations of animal or 
vegetable fats or oils, other than those not containing soya beans 
(HS 1517.90.90 ), oil-cake and other solid residues resulting from the extraction 
of soya -bean oil (HS  2304.00.10 and HS  2304.00.90)  15  
(b) Chapter 27, except electrical energy (HS  2716.00.00)  30 
 Operations with related parties   
(c) For all goods except those indica ted in (a) and (b) and those listed in Chapter  26 
(except ores such as iron (HS  2601.11.00), copper (HS  2603.00.90), lead 
(HS 2607.00.00), zinc (HS  2608.00.10), molybendum (HS  2613.90.90), silver 
(HS 2616.10.00), other precious metals (HS  2616.90.00) and a sh and residues 
of minerals (HS  2621.10.00)) and in Chapter  71 (except unwrought silver 
(HS 7106.91.00), gold alloys or gold bullion (HS  7108.12.10) and other waste 
and scrap of precious metals (HS  7112.99.00))  60 
 Operations with related parties in which the importer is a company 
controlled by the Argentine exporter   
(d) (i) Meat of bovine animals, frozen, boneless, in immediate packings of a net 
weight content not exceeding 5  kg, other than of the genus Babalus  (20 eleven -
digit sub -headings of tari ff heading HS  0202.30.00); meat of swine, fresh, 
chilled or frozen (HS  0203.21.00[.000J]); thin skirt (HS  0206.29.90[.300P]); 
meat and edible offal of fowls of the species Gallus Domesticus , in containers of 
a net weight content not exceeding 15  kg (HS  0207.14.00[.100K]), dulce de 
leche in immediate packings of a net weight content not exceeding 1  kg 
(HS 1901.90.20) and wine of fresh grapes (HS  2204.21.00)  120, where the 
importer recorded 
exports ≥ 
USD 50 million in 
the previous 
calendar year  
 (ii) All oth er goods  180, where the 
importer did not 
record exports ≥ 
USD 50 million in 
the previous 
calendar year  
(e) All other goods  180 
(f) Simplified Export Regime (all goods)  365 
Source:  BCRA, "Exterior y Cambios -Última comunicación incorporada: "A" 7293 - Texto ordenado al 
28/05/2021." Viewed at: http://www.bcra.gov.ar/Pdfs/Texord/t -excbio.pdf . 
Customs valuation  
 
3.124.   During the p eriod 2013 -17, Argentina continued using the system of export reference values 
introduced in 2005 so as to guarantee the revenue obtained through export duties. AFIP sets the 
export reference values and determines which goods are subject to those values.191 The reference 
values are determined based on the final destination of the exports, on databases and on estimates 
by specialist companies.192 The authorities also indicated that, in determining which products are 
 
189 Decree No.  609/2019 of 1 September 2019.  
190 BCRA, "Exterior y Cambios -Última comunicación incorporada: "A" 7293 - Texto ordenado al 
28/05/2021." Viewed at: http://www.bcra.gov.ar/Pdfs/Texord/t -excbio.pdf . 
191 AFIP General Resolutions Nos.  1866/05 and 2716/09.  
192 Article 2 of AFIP General Resolution No.  2716/09.  WT/TPR/S/412 • Argentina  
 
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 subject to reference values, and following t he conclusion of studies and investigations, they consider 
requests submitted by chambers of industry and commerce, the export sector and the public sector.  
3.125.   During the period 2013 -17, reference values were established for products such as garlic; 
bilberrie s, lemons, apples, pears and grapes; squid, shrimp and prawns; milk and cream powder; 
honey; maté; hides, skins and leather; and biodiesel. These values were updated regularly and 
applied only to exports for consumption for specific destinations. The refer ence values were 
abolished in 2017, as it was considered that the process for adjusting the values did not reflect 
export market prices and that the volatility of international prices, and therefore of prices 
documented by customs, had turned the reference  values into obsolete control and selectivity 
mechanisms.193 
3.126.   In 2020, in response to the public emergency,194 Argentina reintroduced export reference 
values of a precautionary nature for any product.195 Reference values were therefore reintroduced 
for certain  products (onions, potatoes, powdered milk, dried grapes, croakers) sent to certain 
destinations (Table  3.27).  
Table  3.27 Exports subject to reference values, 2020  
HS Product  Destination  AFIP 
General 
Resolution 
No. Export tax 
(2021) (%)a 
0703.10.19  Some types of 
onion  Plurinational State of  Bolivia; Brazil; 
Chile;  Colombia; Paraguay; Peru; 
Uruguay; and Bolivarian Republic of 
Venezuela  4764/2020  0b 
0402.10.10  
0402.21.10  
 Milk powders  Africa; Plurinational State of Bolivia; 
Brazil; Canada; Chile; China; Colombia; 
Hong Kong, China; Indonesia; Malaysia; 
Paraguay; Peru; Russian Federation; 
Kingdom of Saudi Arabia; United Arab 
Emirates; Uruguay; and Bolivarian 
Republic of Venezuela   4765/2 020 9 
1901.90.90  Modified milk in 
powder form  Africa; Plurinational State of  Bolivia ; 
Brazil; Canada; Chile; China; Colombia; 
Hong Kong, China; Indonesia; Malaysia; 
Paraguay; Peru; Russian Federation; 
Kingdom of Saudi Arabia; United Arab 
Emirates; Uruguay ; and Bolivarian 
Republic of  Venezuela  4765/2020  4.5 
0806.20.00  Dried grapes, 
black, seedless, 
packed  Plurinational State of Bolivia ; Brazil; 
Chile; Colombia; Paraguay; Peru; 
Uruguay; and Bolivarian Republic of 
Venezuela  4785/2020  0b 
0701.90.00  Potatoes, 
except for seed  Plurinational State of Bolivia ; Brazil; 
Chile; Colombia; Paraguay; Peru; 
Uruguay; and Bolivarian Republic of 
Venezuela  4812/2020  4.5 
0303.89.10  Croakers 
(Micropogonias 
furnieri ), whole 
or gutted  Africa; Canada; China; Hong Kong, 
China; Japan; Democratic People's 
Republic of Korea; Republic of Korea; 
Philippines; Chinese Taipei; Thailand; 
and United States  4819/2020  5% and 7% 
(applies to 
part of the 
line) 
a Decree No.  1060/2020 of 30 December 2020.  
b This tariff line was subject to a 12% export tax (Decree No. 793/2018 of 3 Septembe r 2018), which 
was reduced to 0% from 1 January 2021 by Decree No.  1060/2020 of 30 December 2020.  
Source:  WTO Secretariat.  
 
193 AFIP General Resolution No. 4161 -E of 23  November 2017.  
194 Law No.  27,541 of 21 December 2019.  
195 AFIP General Resolution No.  4710/2020 of 8 May 2020.  WT/TPR/S/412 • Argentina  
 
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  3.127.   Definitive exports for consumption for which values are declared that are below the 
established reference value are routed through the red value channel in all cases; those for which 
values are above the reference values are routed through the red channel selectively.  
3.2.2   Taxes, charges, and levies  
3.128.   Argentina continues to levy export duties (retentions) as regulated by the Customs Code,196 
with the following objectives: (a) the promotion of value -added; (b) the execution of monetary, 
currency exchange and foreign trade policies; (c) the promotion, protection or conservation of 
domestic production of goods or services, natural resourc es or animal or plant species; (d)  the 
stabilization of domestic prices at desirable levels or the maintenance of adequate supply to cover 
domestic market needs; and (e) the meeting of public finance needs. Import and export duties are 
essential instrument s of Argentina's economic policy.197 This trade policy instrument was used 
actively during the 2012 -20 period, and the products subject to export duties, as well as the rates 
applied, changed as dictated by circumstances at several points in time (Table 3.2 8).198 
Table 3.28 Changes to export duties, 2012 -20  
Legal instrument   
Decree 
No. 100/2012  Established an export duty of 5% for most goods subject to tariff. Annex VII set differential 
rates for certain goods: 0%; 1%; 2.5%; 10%; 13%; 13.5%; 15%; 20%; 23%; 23.5%; 
30%; 32% and 35%. Annex VIII of Decree No. 100/2012 set rates of 100% for natural gas 
(HS 2711.11.00 and 2711.21.00) and other hydrocarbons.  
Decree 
No. 429/2012  Reduced the export duty from 10% to 5% for certain kinds of fish (HS 0303.66.00).  
Decree 
No. 526/2012  Reduced the export duty from 15% to 5% for certain kinds of meat and preparations 
thereof (HS 602.50.00 and 1603.00.00).  
Decree 
No. 1339/2012  Increased the export duty fro m 20% to 32% for biodiesel and mixtures thereof (HS 
3826.00.00).  
Decree 
No. 1719/2012  Established sliding duties (based on a formula) and a fixed reference price (RP) for 
biodiesel and mixtures thereof (HS 3826.00.00).  
Resolution 
No. 800/2012  Increased t he export duty from 10% to 15% for sheepskins (HS 4102.10.00, 4102.21.00 
and 4102.29.00).  
Decree 
No. 2014/2013  Raised the rate from 5% to 32% for products made with residues obtained from the 
processing of soya beans and for certain preparations containin g soya for use as animal 
fodder (HS  2302.50.00, 2308.00.00 and 2309.90.90).  
Decree 
No. 1393/2014  Reduced the export duty from 32% to 5% for prepared animal fodder containing soya, 
packed in labelled bags not exceeding 50 kg in net weight (HS 2309.90.90).  
Decree 
No. 1507/2015  Reduced the export duty from 10% to 5% for semi -milled or wholly milled rice, not 
parboiled (HS 1006.30.29).  
Decree 
No. 160/2015  Reduced the export duty to 0% for products classified in HS Chapters 28 -40; 54 -76; and 
HS 78-96. Set the export duty at 32% for biodiesel (HS 3826.00.00) and at 5% for ferrous 
waste and scrap (HS 7204).  
Decree 
No. 133/2015  Reduced the rate to 0% for products included in HS Chapters 01 -24 and 41 -53, except for 
goods such as soya and soya produc ts; skins and wools; hydrocarbons, biodiesel and 
mixtures thereof; metal waste and scrap; and works of art, collectors'  items and antiques 
(HS 1201; 1517; 1518; 2302; 2304; 2308; 2309; 4101; 4102; 4103; 4104).  
Decree No.  25/2016  Established the rate of 0 % for HS Chapters 28 -40, except line HS 3826.00.00 (biodiesel 
and mixtures thereof not containing or containing less than 70% by weight of petroleum 
oils or oils obtained from bituminous minerals), for which the rate is 32%.  
Decree 
No. 349/2016  Reduced e xport duties for metals to 0%.  
Decree 
No. 361/2016  Established an export duty of 0% for HS Chapters 50 -53. 
Decree 
No. 1343/2016  Gradually reduced the export duty for soya and soya products, by 0.5% per month.  
Decree 
No. 1025/2017  Discontinued the use of sliding duties for biodiesel and mixtures thereof (HS 3826.00.00), 
assessed thereafter at 8%.  
Decree 
No. 1126/2017  Maintained the 0% duty, except for goods listed in Annex XIII, for which the rates were set 
at 0%; 4%; 5%; 6%; 8%; 10%; 20%; 25%; 27% and 30%. Continued the 0.5% monthly 
phaseout of export duties for soya and soya products.  
Decree 
No. 486/2018  Raised the export duty from 8% to 15% for biodiesel and mixtures thereof (HS 
3826.00.00).  
Decree 
No. 487/2018  Lowered the e xport duty from 24.5% to 10% for soya -bean oil and blends of refined oils 
containing soya (HS 1507.90.11 and 1517.90.10), excluding the goods subject to the 0.5% 
monthly phaseout of export duties (Decree No.  1343/2016).  
 
196 Article 755 (1) of Law No. 22.415 (Customs Code) and amendments thereto.  
197 Decree 2014/2013 of 2 December 2013.  
198 Decree 230/2020 of 4 March 2020.  WT/TPR/S/412 • Argentina  
 
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 Legal instrument   
Decree 
No. 757/2018  Established ex port duties of 2%, 16%, 21% and 23% for goods containing soya (HS 
Chapters 12, 15 and 23)  
Determined that the 0.5% monthly phaseout (Decree No. 1343/2016) would start to apply 
to those goods on 1 March 2019.  
Decree 
No. 793/2018  Set the export duty for all goods at 12% through 31 December 2020 and established a 
limit in pesos (ARS 3 or ARS 4 per USD of dutiable value or official price) as appropriate. 
Reduced the rates to 11%, 16% and 18% for soya and soya products. Eliminated the 0.5% 
monthly phaseo ut. 
Decree 
No. 464/2019  Adjusted the export duty for natural honey; fruit and vegetables; certain cereals and 
oilseeds and wood (HS Chapters 4; 8; 10; 12 and 44). Increased the export duty for goods 
containing soya (specific lines of HS Chapters 15 and 2 3). 
Decree 
No. 847/2019  Temporarily waived export duties on raw hides and skins, leather and furskins (HS 4101; 
4102; 4103; 4104), for exports within the temporarily established export quota of 2 million 
units.  
Decree No.  37/2019  Established the export  duty of 9% for certain products included in HS Chapters 01; 02; 03; 
04; 05; 07; 10; 11; 15; 20; 44; 47; 51 and 52.  
Decree No. 
230/2020  Raised export duties to 5%, 7%,9%, 27%, 28%, 30% and 33% for 558 tariff lines at the 
HS 8-digit level (611 if partial lines are included), in HS Chapters 01; 02; 03; 05; 07; 10; 
11; 12; 15; 20; 23; 38; 44 and 51.  
Decree 
No. 488/2020  Established export duties for hydrocarbons.  
Decree 
No. 549/2020  Established export duties for skins.  
Decree 
No. 785/2020  Established export duties for the mining sector.  
Decree 
No. 789/2020  Established export duties for various products at rates between 0% and 5%. Established 
export duties for "incremental vehicle exports".  
Decree 
No. 790/2020  Establ ished a scheme of phased increases in the export duties for soya, food products 
containing soya and biodiesel.  
Decree 
No. 812/2020  Eliminated export duties for skins and hides in 2020.  
Decree 
No. 1060/2020  Established export duties effective from 1 Jan uary 2021.  
Source:  Information provided by the authorities.  
3.129.   Export duties are ad valorem  or specific, calculated using a formula or other methodology. 
For example, the 8% export duty for hydrocarbons, based on a formula through 2017, has been set 
since 2020 using a hybrid system: the duty is 0% when the international price of hydrocarbons doe s 
not exceed a base value (USD 45/barrel) and 8% when it exceeds a reference value (USD 60/barrel); 
when the price is between these two values a formula is applied.199 In some cases, an export duty 
is eliminated only for an export quota. In 2019, export dut ies were temporarily eliminated for raw 
hides and skins (HS 4101; 4102; 4103; and 4104), for exports within the 2 million -unit quota.200 
This measure was never implemented, however, and was revoked in 2020.201  
3.130.   All lines in Argentina 's tariff schedule have been subject to export duties in 2020 and 2021. 
The rates have fluctuated since 2012 across a band of 5% to 100%, with the 5% rate applying to 
97.5% of all lines.202 Tariff rates turned downward in 2020 (Table A3.2), ranging in March between 
5% and 33%, with the exception of four sub -lines at 0%. Export duties declined in October  2020, 
increasing the number of lines subject to rates of 0% and 5% while reducing the number subject to 
12%. In 2021 (January), duties ranged between 0% and 33%. Rate levels  also continued to be cut:  
while i n 2020 (March) the rate for 94% of tariff lines was 12%, followed by 5% (for only 3%  of the 
tariff universe ), in 2021, it was less than 5% for 92.7% of tariff lines, with a rate of 3% being most 
commonly applied (to 34.6% of the lines) and 4.5% being second -most common (applied to 29.5%), 
followed closely by 0% for 28.6% of the lines (see Chart  3.4). In 2021, a rate of 33% was applied 
to only one tariff line: HS 1201.90.00, soya beans for use as seed (compared to 30% in 
October  2020). Since that time, the export duties for biodiesel and several products containing soya 
have increased, a scheme having been applied to gradually raise those rates. It is to those products 
 
199 Decree No. 488/2020 of 18 May 2020.  
200 Decree No. 847/2019 of 9 December 2019.  
201 Decree No. 203/2020 of 5 March 2020.  
202 WTO document WT/TPR/S/277/Rev.1 of 14 June 2013.  WT/TPR/S/412 • Argentina  
 
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  that the highest export duties currently apply: bet ween 25% and 33%.203 Some of the export duty 
decreases are temporary, such as those for hides and skins – reduced from 12% to 4.5% or 0%.204  
Chart  3.4 Frequency distribution of export duties, 2020 -2021  
 
Source : Calculated by the WTO Secretariat, based on Decrees  Nos. 230/2020, 789/2020 and 1060/2020.  
3.131.   Export duties are an important source of fiscal revenue but can alter terms of trade as well 
as business and agricultural decisions. In some cases, export duties can have a negative effect on 
industries. In the mining sector, for instance, export taxes have acted as a disincentive to 
investment, apparently contributing to a loss of competitiveness relative to other mineral producers 
and exporters.205 Export d uties raise operating costs and thus impact profit margins while shortening 
the useful life of mines. Export duties have seriously affected the competitiveness of mining SMEs, 
particularly those in areas with limited infrastructure and high transport costs , leading to the loss of 
international markets and potential job losses.  
3.132.   Argentina is considered an "important exporter " (i.e. accounting for more than 5% of total 
world exports) of such products as coarse grains, oilseeds, vegetable oils, oilcakes, as wel l as dairy 
products, meat and wine, and maintained that ranking every year between 2013 and 2019.206 Some 
of those products are subject to export taxes, which could affect international markets.  
 
203 Annex I o f Decree No.790/2020 of 4 October 2020.  
204 HS 41015020, HS 41015020, HS 41015030, HS 41015030, HS 41015030, HS 41019010, 
HS 41019010, HS 41019010, HS 41019020, HS 41019020, HS 41019020, HS 41019030, HS 41019030, 
HS 41019030, HS 41021000 and HS 41039000 (Dec ree No.1060/2020 of 30 December 2020).  
205 Decree No.349/2016 of 12 February 2016.  
206 WTO documents G/AG/N/ARG/33 of 11 March 2015; G/AG/N/ARG/34 of 20 September 2016; 
G/AG/N/ARG/40 of 3 July 2019; G/AG/N/ARG/41 of 3 July 2019; G/AG/N/ARG/42 of 3 July 2019 an d 
G/AG/N/ARG/47 of 7 December 2020.  
01,0002,0003,0004,0005,0006,0007,0008,0009,00010,000
0% 3% 4.5% 5% 7% 8% 9% 12% > 12%
March 2020 October 2020 January 2021Number of linesWT/TPR/S/412 • Argentina  
 
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 3.133.   To mitigate the potentially adverse impact of export duties on  small producers during the 
2019-20 period , MSMEs registered with the Registro de Empresas Mipymes  (MSME Register) were 
exempted from export taxes if their exports the previous year did not exceed USD 50 million.207 
3.134.   As a consequence of the public emergency declared in 2019, several measures were taken 
to cap export duties relative to f.o.b. price (Table 3.29). In addition, the executive branch was 
authorized through 31 December 2021 to take measures to stimulate the competitiveness of small 
producers and coo peratives impacted by the increase in export duties.208  
Table 3.29 Emergency measures  
Export duties for soya beans were limited to 33% of the dutiable value or official f.o.b. price.  
The export duty was limited to 15% in the case of goods not subject to export duties, or subject to a 0% duty, 
as of 2 September 2018.  
For the agroindustrial products of regional economies export duties were limited to 5%.  
The export duty was for industrial goods and for se rvices was prohibited from exceeding 5% of dutiable value 
or official f.o.b. price . 
Export duties for hydrocarbons and mining were limited to 8% of the dutiable value or official f.o.b. price.   
Source:  Title V (Export duties) of Law No. 27.541 of 21 December 2019, Ley de Solidaridad Social y 
Reactivación Productiva en el Marco de la Emergencia Pública (Law on Social Solidarity and 
Reinvigorating  Production in the context of the  Public Emergency).  
3.135.   During  the period  under  review, export duty revenue rose gradually to ARS 398,312 million 
in 2019, representing 18% of the tax revenue of the non -financial public sector, 7.3% of the total 
tax receipts and 12.7% of total export value (Table 3.30). In 2020, howeve r, export duty revenue 
decreased (to 13.5%, 5.4% and 10%, respectively), possibly because of lower  tax rates and/or 
reduced export volume during the health crisis.  
Table 3.30 Export duties, 2013 -20 
 
2013  2014  2015  2016  2017  2018  2019  2020  
Total amount collected 
(millions of ARS)  55,465  84,088  75,939  71,509  66,121  114,160  398,312  387,643  
Growth rate (%)  -9.5 51.6 -9.7 -5.8 -7.5 72.7 248.9  -2.7 
Percentage of total tax 
revenue of the non -
financial public sector  13.7 14.9 10.7 7.3 5.9 8.1 18.0 13.5 
Percentage of total tax 
receipts  5.9 6.6 4.5 3.0 2.3 3.1 7.3 5.4 
Percentage of total 
export value (goods)  13.4 15.2 14.5 8.4 6.8 6.6 12.7 10.0 
Source:  Ministry of the Economy; Ministry of Finance; data furnished by national authorities and the 
Comtrade database.  
3.136.   Exports are exempt from VAT, and exporters are allowed to recover VAT paid in purchasing 
goods and services needed to produce their expo rts.209 
3.2.3   Export prohibitions, restrictions and licensing  
3.137.   Argentine law permits the prohibition and restriction of exports as well as imports, for 
economic or non -economic reasons (Table  3.31) .210 Export prohibitions in effect a t the current time 
are for non -economic reasons only .211 In 2020, the country  temporarily suspended issuance of Sworn 
Declarations of Foreign Sales (DJVE) and established a quota for exports of certain types of maize, 
to ensure sufficient domestic supply. Maize DJVEs were limited to 30,000 tonnes per day for the 
2019-20 period .212 
 
207 Decree No. 280/2019 of 17 April 2019 and Decree No. 335/2019 of 6 May 2019.  
208 Joint Resolution No. 1/2020 of 2 November 2020 of the Ministry of the Economy and the Ministry of 
Agriculture, Livestock and Fisheries.  
209 Decree No. 280/97, harmonized  text of the Law on Value Added Tax, Law No. 23349 and 
amendments thereto.  
210 Article s Nos.  609-613 of Law No. 22415 (Customs Code).  
211 Information provided by the authorities.  
212 Online information. Viewed at: 
https://www.magyp.gob.ar/sitio/areas/prensa/index.php?accion=noticia&id_info=210110234753 ; WT/TPR/S/412 • Argentina  
 
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  Table 3.31 Prohibition/restriction of exports, 2020  
Product for export  Treatment  Implementing agency  
Live specimens, products and by -
products of wild fauna and flora 
(Convention on International Trade in 
Endangered Species of Wild Fauna and 
Flora (CITES) ).  Prohibited, except when such 
trade: is authorized by CITES; 
consists of specimens or 
products f or use in scientific 
research; or is for non -
commercial purposes, among 
other exceptions.  Ministry of the Environment and 
Sustainable Development  and 
Directorate -General of Customs 
(DGA).  
Genetic resources used under the 
Nagoya Protocol.  Authorization required prior to 
export.  Ministry of the Environment and 
Sustainable Development.  
Narcotics and psychotropic substances, 
except in quantities necessary for 
medical and scientific research  Prohibited  Ministry of Health  and DGA  
Ozone -depleting substances  Prohibited, except under certain 
conditions.  
Exports of ozone -depleting 
substances or 
hydrofluorocarbons (per the 
Kigali Amendment to the 
Montréal Protocol) are subject to 
certain non -economic 
prohibitions and must therefore 
be previously  registered in the 
Register of Importers and 
Exporters of Ozone -Depleting 
Substances (RIES AO). Ministry of the Environment and 
Sustainable Development – Ozone 
Programme  
Certain fertilizers, pesticides and related 
products.  Prohibited.  National Agriculture and Food 
Quality and Health Service 
(SENASA).  
Hazardous and non -hazardous waste.  Authorization required prior to 
export.  Secretariat of Environmental 
Control and M onitoring (Ministry of 
the Environment and Sustainable 
Development).  
Wild fauna; reptiles (risk to human life or 
health); wild flora; phthalates; iguana 
skins; metal scrap and waste; and 
hunting trophies (species: puma 
concolor ) Prohibited  Ministry of the Environment and 
Sustainable Development, Ministry 
of Health and Mini stry of 
Agriculture, Livestock and Fisheries   
 
Source:  WTO documents G/MA/QR/N/ARG/1/Rev.2 and G/MA/QR/N/ARG/2 of 25 July 2018 and 
10 February  2021, respectively; information provided by the authorities (November 2019); and 
online information viewed at: https://www.argentina.gob.ar/obtener -autorizacion -para-exportar -
residuos -o-desperdicios -no-peligrosos ; https://www.argentina.gob.ar/obtener -la-autorizacion -para-
exportar -residuos -peligrosos ; and https://www.argentina.gob.ar/inscribirse -en-el-registro -de-
importacion -y-exportacion -de-sustancias -que-agotan -la-capa-de-ozono . 
3.138.   Argentina continues to apply a series of requisites for exports, such as exporter registration 
and DJVEs, that may have effects similar to those of export licenses. In addition, during the health 
crisis, Argentina has required export permits for certain products or goods needed by the country 's 
health -care system, such as alcoh ol, medications, diagnostic equipment, protective gear, respirators 
and oxygenators. Such permits are issued by the Ministry of Producti ve Development (MDP) in 
consultation with the Ministry of Health .213 Exemptions from the permit requirement were later 
allowed for exports of oxygen therapy apparatuses, their parts and accessories (HS 9019.20.10) as 
well as portable respirators (HS  9019.20.10) .214  
3.139.   Within the framework of its trade agreements, Argentina has negotiated preferential export 
quotas for confectio nery, chocolates and beef (with Colombia); dairy products (with Colombia, 
Ecuador and the Bolivarian Republic of Venezuela); and peaches (with Mexico). Argentina also has 
preferential quotas for exports of beef (Hilton Quota), buffalo, lamb and goat (to th e 
European  Union), and sugar, meat, groundnuts and tobacco (to the United States).  
 
https://www.magyp.gob.ar/sitio/areas/prensa/index.php?accion=noticia&id_info=201230140611  and 
Resolution No. 287 of 30 December 2020.  
213 Decree No. 301 of 19 March 2020, Decree No. 317 of 28 March 2020 and Decree No.  405 of 
24 April 2020 
214 Decree No. 625 of 29 July 2020.  WT/TPR/S/412 • Argentina  
 
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 3.2.4   Export support and promotion  
3.140.   As it did in 2013, Argentina has notified the WTO Committee on Subsidies and Countervailing 
Measures (SCM Committee)  of its free zones programm e, which is one of its subsidized 
programme .215 In addition, it continues to implement some customs regimes  to promote exports , 
such as the  simplified export regime  and the temporary admission import regime for production 
inputs, as well as other fiscal inc entives.  
3.141.   Argentina taxes exports but also offers fiscal incentives to promote them. As they stated for 
this review, the authorities do not consider these policies contradictory, believing that export duties 
can help to achieve diverse objectives and that the rates can be adjusted should asymmetries or 
conflicts between objectives arise .  
3.142.   As it notified the WTO Committee on Agriculture, Argentina provided no subsidies for 
agricultural exports between  2013 and 20 19.216 
3.2.4.1   Free zones  
3.143.   The country 's free zone regime, regulated by Law No.  24.331, has been in place since 
1994.217 The purpose of free zones is to foster  industrial export activity by promoting investment to 
increase efficiency, reduce production costs and create jobs.  
3.144.   Companies operating in free zon es enjoy fiscal exemptions . The import of goods for 
consum ption that enter  the free zone or  are exported to third countries  are exempt from taxes , 
except for  fees for services rendered (Articles 24 and 25 of Law No. 24.331). Basic utilities provided 
in free zones (telecommunications, gas, electricity, running water, sewerage and drainage) are also 
exempt from national taxes.  
3.145.   Exports originating in free zones are exempt from export duties.  
3.146.   There are currently 12 free zones in Argentina. The companies operat ing there are engaged 
in various industrial activities related to food, plastics  and PVC, and textiles – in addition to 
warehousing and retail sales.218 Service sector activities include call centres, computer software and 
programming, digital news outlets,  AM radio transmission and quality control laboratories. The 
number of businesses operating in free zones in 2020 was 1 ,380, consisting of 1 ,050 domestic and 
330 foreign companies. Most of the businesses were SMEs (960), with large companies making up 
the rest (420). These businesses created  2,224 jobs directly and 5 ,735 indirectly. The volume of 
exports from Argentina 's free zones in 2019 amounted to USD  25 million. A total of USD 182 million 
has been invested in free zones since the start of the regime. As it informed the WTO, Argentina 
does not have data on the cost of this programme or estimates of its possible impact on trade.219  
3.147.   The Special Tax and Customs Regime  in the Province of  Tierra del Fuego , Antarctica and the 
South Atlantic Islands , which operates as a free zone, was introduced to promote industrial activity 
and technological development in the southernmost tip of Argentina and improve the country 's 
producti ve structure.220 Activities covered by the regime enjoy exemptions from VAT, income t ax, 
and import and export duties, as well as eligibility for export  duty drawbacks. The regime is open to 
all types of enterprises in such sectors as agriculture, livestock production, game reserve 
management, forestry, fisheries and manufacturing.  
 
215 WTO documents G/SCM/N/253/ARG, G/SCM/N/284/ARG, G/SCM/N/315/ARG of 29  January  2018; 
G/SCM/N/343/ARG of 14 February 2019 and G/SCM/N/343/ARG/Suppl.2 of 4 March 2020.  
216 WTO documents G/AG/N/ARG/33 of 11 March 2015; G/AG/N/ARG/34 of 20 September 2016; 
G/AG/N/ARG/37 of 3 July 2019; G/AG/N/ARG/38 of 3 July 2019; G/AG/N/ARG/39 of 3 July 2019 and 
G/AG/N/ARG/46 of 7 December 2020.  
217 Law No. 24.331 of 17 June 1994.  
218 Informatio n provided by the authorities.  
219 Information provided by the authorities.  
220 Law No. 19.640 of 16 May 1972 (amended 88 times).  WT/TPR/S/412 • Argentina  
 
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  3.2.4.2   Export duty drawbacks  
3.148.   Argentina continues to apply its drawback system, which consists of total or partial refunds 
of import duties, statistical fees, fees charged by the National Export Promotion Fund (FOPEX) and 
VAT paid on the importation of inputs used to pr oduce and package goods for export.221 
3.149.   In addition to the drawback, Argentina maintains a system of refunds for domestic export -
related taxes (or selective consumption taxes ) paid at the various stages of producing and marketing 
new and unused manufactured goods within the country for export. Total or partial refunds of such 
taxes are based on a specific percentage applied to the f.o.b. value of the goods for export. The 
percentage can be partial or total depending on the product concerned, as determined by the 
executive branch . Also depending on the product, refund amounts can be adjusted several times a 
year as necessary . In 2013, the percentages ranged between 0% and 6%, with a few higher 
exceptions but all less than 10%.222 In 2021, they ranged between 0% and 10.4% and were applied 
to 79.9% of all tariff lines: 91% in the case of agricultural products (as defined by the WTO) and 
78.6% in the case of non -agricultural products (Table 3.32). In some cases – for such categories as 
dairy products; tea and coffee ; sugar and confectionery; beverages, spirits and tobacco; cotton; 
clothing; and electrical and non -electrical machinery – the refunds were provided for all tariff lines.  
Table 3.32 Summary analysis of export  duty drawbacks, 2021  
Products  Tariff lines 
with 
drawback  Tariff lines 
with 
drawback  
(%) Average  
(%) Range  
(%) 
Total  10,273  79.9 4.3 0-10.4 
By WTO categories      
Agricultural products  1,064  91.0 3.4 0-9 
 - Animals and animal products  138 75.4 2.6 0-6.75 
 - Dairy products  37 100.0  3.6 2-5 
 - Fruits and vegetables  289 98.3 3.9 0-9 
 - Coffee and Tea  30 100.0  4.2 2-6.75 
 - Cereals and cereal preparations  140 86.4 3.5 0-6.5 
 - Oilseeds, fats and oils and their 
products   126 86.5 2.2 0-5 
 - Sugar and confectionery   23 100.0  4.6 3.4-6.75 
 - Beverages, spirits and tobacco  75 100.0  4.9 2.5-9 
 - Cotton  7 100.0  2.8 2-4 
 - Other agricultural products n.e.s.  199 89.4 3.0 0-6.3 
Non-agricultural products (including 
petroleum)  9,209  78.6 4.4 0-10.4 
 - Non-agricultural products (excluding 
petroleum)  9,182  78.8 4.4 0-10.4 
 - - Fish and fish products  366 93.4 2.8 0-7.33 
 - - Mineral products and metals  1,218  75.9 3.7 0-7.5 
 - - Chemicals and photographic 
supplies  3,230  52.5 2.3 0-7 
 - - Wood, pulp, paper and furniture  406 93.6 4.8 0-8 
 - - Textiles  834 97.6 5.4 0-10.4 
 - - Clothing  251 100.0  7.3 7-8 
 - - Leather, rubber, footwear and 
travel goods  234 82.9 4.2 0-8 
 - - Non-electrical machinery  1,133  100.0  6.7 5-8 
 - - Electrical machinery  614 100.0  6.7 4.5-8 
 - - Transport equipment  217 99.5 6.9 0-8 
 - - Non-agricultural products, n.e.s.  679 98.8 6.8 0-8 
 - Petroleum  27 3.7 0.1 0-3 
By HS section       
 01 Live animals; animal products  520 88.5 2.5 0-6.5 
 02 Vegetable products  411 93.2 3.1 0-9 
 03 Fats and oils  74 93.2 2.7 0-5.5 
 04 Prepared foodstuffs, etc.  315 98.4 4.8 0-9 
 05 Mineral p roducts  209 10.0 0.2 0-3 
 
221 Decree No. 1012/1991 of 29 May 1991.  
222 WTO document WT/TPR/S/277/Rev.1 of 14 June 2013.  WT/TPR/S/412 • Argentina  
 
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 Products  Tariff lines 
with 
drawback  Tariff lines 
with 
drawback  
(%) Average  
(%) Range  
(%) 
 06 Products  of the  chemical or allied 
industries   3,034  51.5 2.2 0-7 
 07 Plastics and rubber  429 77.4 4.1 0-7 
 08 Hides and leather  113 62.8 2.6 0-8 
 09 Wood and articles of wood  157 86.0 3.9 0-7 
 10 Pulp of wood, paper, etc.  222 98.2 5.1 0-7 
 11 Textiles and textile articles  1,056  97.8 5.8 0-10.4 
 12 Footwear and head gear 70 100.0  6.9 3-7.5 
 13 Articles of stone  217 99.5 5.2 0-7 
 14 Precious stones, etc.  64 59.4 2.8 0-7 
 15 Base metals and articles of base 
metal  738 88.3 4.5 0-7.5 
 16 Machinery  1,774  100.0  6.7 4.5-8 
 17 Transport equipment  230 99.6 6.9 0-8 
 18 Precision instruments   450 100.0  6.9 5-8 
 19 Arms and ammunition   18 100.0  6.6 5-7 
 20 Miscellaneous manufactured 
articles  165 100.0  7.0 5-8 
 21 Works of art, etc.  7 0.0 0.0 0-0 
Source:  Calculated by the WTO Secretariat based on the Official Bulletin . Viewed at: 
https://www.boletinoficial.gob.ar/estatica/prodyserv . 
3.150.   Argentina also maintains a tax refund scheme providing full or partial refunds of amounts 
paid in domestic taxes as well as  in taxes for the importation of  goods  exported for consumption  and 
services rendered  in connection with export s. Unless otherwise pr ovided, this regime cannot be 
combined with the refund or drawback scheme.223 
3.151.   In addition to  the general refunds , there are refund programmes for the mining industry. 
The export duty drawback for mining products from the Argentine Puna , a special regime  for exports 
of minerals and mineral products , originally set at 5%  and then lowered to 2.5% ,224 was eliminated 
in 2001.225 Drawbacks were also allowed, starting in 1983,226 for products originating in Patagonia 
and exported from Patagonian ports (between San Ant onio Este and Ushuaia), at rates ranging 
between 5% and 10%, according to latitude. The regime was abolished  in 2016.227 A tax refund  
scheme currently in effect for exports of certain precious metals,228 such as platinum, palladium, 
rhodium, iridium, osmium and ruthenium, permits refunds of domestic taxes paid in the various 
stages of production and marketing.  
3.2.4.3   Other export incentives  
3.152.   In addition to the fiscal incentives described above (drawback s and other refunds), Argentina 
also continues to apply  the turnk ey plant export  regime to promote exports,229 incentivizing the 
export of goods and services in the form of complete industrial plants or engineering works.230 The 
objective of this regime is to promote exports of goods and services of national origin. Accor dingly, 
for export operations to qualify for the regime, their national component (physical goods and 
services) must represent no less than 60% – and physical goods of national origin no less than 
40% – of f.o.b. export value. The incentive consists of ful l or partial refunds of domestic taxes paid 
at the various stages of production and marketing.231 The percentage of the tax refund is determined 
by means of an assessment conducted by the Under -Secretariat for Industry and Trade within the 
Ministry of the Economy, Public Works and Services as to the  calculation of domestic  taxes 
 
223 Article No. 828 of Law No. 22.415 of 2 3 March 1981.  
224 Resolution No. 762/93 of 13 July 1993.  
225 Resolution No. 220/01 of 19 June 2001.  
226 Law No. 23.018 of 7 December 1983.  
227 Decree No. 1199 of 2 December 2016.  
228 Resolution No. 294/1995 of 20 September 1995.  
229 Law No. 23.101 of 2 November  1984, Decree No. 870/2003 and Resolution No. 12/2004 of the 
Secretariat of Industry, Trade and SMEs.  
230 This regime is restricted to exports of goods and services produced for ind ustrial plants and 
engineering works as listed in an annex to Decree No. 870/03.  
231 Decree No. 1011/91.  WT/TPR/S/412 • Argentina  
 
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  corresponding to the goods to be exported . Decree No.  1011/91 set the refund percentages at 10%, 
8.3%, 6.7% and 3.3%. The regime permits an further  refund of up to 10%  in the ca se of exported 
goods and an additional 10% corresponding to the national component is refunded for exported 
services.232  
3.153.   Under a temporary admission import regime, production inputs can be imported for industrial 
finishing, free of duty and other taxes, pr ovided that the finished product is then exported.233 
3.154.   Argentina also offers tax exempts on goods imported for the organization of 
export -promoting trade fairs, conventions  and conferences  from import duties, VAT, domestic taxes,  
as well as  service , and stat istical and verification -of-destination fees.234 
3.2.5   Export finance, insurance and guarantees  
3.155.   Exporters can obtain financing through the Investment and Foreign Trade Bank (BICE),  a 
public sector, second -tier bank that also finances businesses directly. BICE pr ovides credit to 
businesses of all types for export pre - and post -financing, for goods as well as services . 
3.156.   BICE also offers lines of credit in dollars at subsidized rates to MSME exporters, for pre - and 
post-financing of any export except soya beans.  
3.157.   The National Bank of Argentin a (BNA)  continues to offer export financing as well.  The 
conditions for BNA loans vary according to the size of enterprise and the financing terms required. 
The BNA currently offers the following lines of export credit : export pre -financing (prior to shipment), 
export financing (subsequent to shipment), export business financing (working and investment 
capital) and financing for participation in international trade fairs, exhibitions and shows.  
3.158.   The Federal Investment Coun cil (CFI) also offers credit to MSMEs for export pre -financing, 
among other activities.235  
3.159.   Argentina has not developed an export credit insurance system. Three private companies 
offered such insurance in 2020.236  
3.2.6   Export promotion  
3.160.   In 2016, the ExportAr Foundation was replaced by the Argentine Investment and 
International Trade Agency as the body responsible for promoting exports in Argentina237 under the 
authority of the Ministry of  Foreign Affairs , International Trade and Worship. I ts responsibilities have 
not substantially changed.  
3.161.   The new Agency continues the work previously performed by the ExportAr Foundation of 
coordinating the participation of Argentine businesses in international fairs through the "Argentine 
Pavilion ", in whi ch each sector exhibits and offers its products at reduced prices. The cost depends 
on the size of the enterprise. Products must be 100% domestic in origin to be so exhibited. Fairs 
enable local businesses (especially SMEs) to acquire knowledge about their  sector and their foreign 
competitors , and to familiarize themselves with new trends, products and services being developed 
in each sector. The agency also organizes trade missions to promote trade between Argentin ian and 
foreign businesses, including grou p visits by business representatives and business rounds to 
facilitate contact among  entrepreneurs from different countries, potential clients and suppliers 
according to their  interest s. Such activities are usually conducted in conjunction with trade promo tion 
events, such as trade fairs, conventions and exhibitions.  
 
232 Decree No. 870/2003.  
233 Law No. 22.415 (Customs Code), Decree No. 1330/04, Decree No. 523/2017, Decree No. 854/2018, 
Resolution No. 285/2018 and Resolu tion No. 56/2018.  
234 Law No. 21.450 of 27 October 1976 and information provided by the authorities.  
235 Viewed online at: https://cfi.o rg.ar/lineas -de-trabajo/financiamiento/linea -de-credito -para-la-
produccion -regional -exportable . 
236 Viewed online at: https://www.argentina.gob.ar/argentinaexporta/herramientas -y-beneficios -para-
exportar/seguro -de-credito -la-exportacion . 
237 Resolution No. 83/2016 of 18 March 2016.  WT/TPR/S/412 • Argentina  
 
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 3.3  Measures affecting production and trade  
3.3.1   Incentives  
3.162.   As in 2013, Argentina continues to implement  a series of incentive programmes , some of 
which have been  notified to the WTO. It notified the SCM Committee of sectoral incentive 
programmes, such as subsidies for mining, forestry, capital goods and computer and 
telecommunication technologies, as well as the free zone regimes.238 
3.163.   Argentina continues administering various na tional as well as provincial incentive 
programmes to promote national and foreign investment, competitiveness and exports. In addition 
to the aforementioned sectoral programmes , a series of incentives and horizontal programmes have 
been developed to stimul ate investment and technological innovation, promote the development of 
SMEs and facilitate access to credit at preferential or fixed rates. Argentina also offers incentives 
based on geographic and free zone location. These incentives are administered and awarded by 
various national and provincial government agencies , which implement each of the  producti ve 
development policies.239  
3.3.1.1   Fiscal incentives  
3.164.   The award of incentives in Argentina is governed not by a general law but a series of laws 
for different ince ntives  that apply either to the entire economy (horizontal), to individual sectors or 
to specific regimes. Argentina has applied many of these  programmes for several years  without any 
apparent substantial change s, rather they continue to be extended. It is  unclear, however, if these 
programmes are being used, leaving the Secretariat unable to evaluate their impact on the economy 
or international trade since 2013.  
3.165.   For example, in 2004 Argentina instituted a transitional regime of fiscal incentives for 
investments in new capital goods (excluding automobiles) for industrial use , as well as in 
infrastructure projects (excluding public works) , which has been extended over the years,  until 2012 
for industrial investments ,240 and until 31 December 2018 for investme nts in infrastructure  
projects .241 The regime  is open to natural persons residing in Argentina and legal persons established  
in the country, who,  under th is scheme, could obtain an advance refund of VAT when they purchased 
new capital goods , or alternatively  the accelerated amortization of income tax.242  
3.166.   There are also various mechanisms for reducing tariffs or VAT when  purchasing capital goods 
or inputs necessary for production. Some of these mechanisms require t he companies to effectively 
export products or purchase capital goods of national origin amounting to a specified percentage of 
imports in order to qualify for the benefits (Table 3.33). The temporary import regime also permits 
importers or manufacturers t o import capital goods duty -free but subject to a re -exportation 
obligation within an extendable three -year period (section 3.1.3.4) .243 
  
 
238 WTO documents G/SCM/N/253/ARG, G/SCM/N/284/ARG, G/SCM/N/315/ARG of 29 January 2018; 
G/SCM/N/343/ ARG of 14 February 2019 and G/SCM/N/343/ARG/Suppl.2 of 4 March 2020.  
239 Online information. Viewed at: http://www.instrumentos.mecon.gov.ar .  
240 Article 27 of Law No. 26.728 of 27 December 2011.  
241 Article 92 of Law No. 27.431 of 2 January 2018.  
242 Laws No.  25.924/2004 and No. 26.360/2008.  
243 WTO document WT/TPR/S/277/Rev.1 of 14 June 2013.  WT/TPR/S/412 • Argentina  
 
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  Table 3.33 Fiscal incentives, 2013 and 2020  
Incentive (legal framework)  Beneficiaries  Benefit and obligation  
Import regime for goods forming 
an integral part of major 
investment projects (Resolution 
No. 1.089/2000)  Importers of new capital goods 
for major investment projects.  Reduction of duties to 0%.  
Exemption from the verification -of-
destination fee. Imports of parts 
permitted up to 5% of f.o.b. export 
value.  
Import regime for used production 
lines (Resolution No. 511/2000 and 
Decree No.  2.259/2009)  Manufacturers of tangible 
goods. Financial and/or leasing 
firms  Extra-zone import duty of 6%. 
Exemption from statistical and 
verification -of-destination fees. 
Obligation to import used assets with 
50% of their usefu l lives remaining 
and to purchase goods of national 
origin amounting to 40% of total 
imports.  
Reduction of VAT (Decrees 
Nos. 493/2001, 496/2001, 615/2001, 
733/2001 and959/2001).   Purchasers/importers of 
finished capital goods and 
information technology and 
telecommunications equipment 
(finished products as well as 
components).  VAT reduced to 10.5%.  
Technical VAT balance (net tax 
liability)  (Decrees No s. 280/2001, 
733/2001 and 496 /2001 and Resolution 
No. 148/2005)  Manufacturers of capital goods 
and information technology and 
telecommunications equipment  Fiscal credit for purchases and/or 
imports  
Regime to promote  the production 
of capital goods, information and 
telecommunication s technology , 
and agricultural machinery (Decrees 
Nos. 379/2001 and 51/16 and Decree 
No. 1.051/2020, (extended the regime 
until 31 December 2021 ). Manufacturers of capital goods, 
information technology and 
telecommunications equipment 
and farm machinery  
 Fiscal voucher for 14% of the amount 
resulting from subtracting from the 
sales price the value of inputs 
imported free of duty   
Source:  Online information from the Ministry of the Economy and Public Finance, Database on " Instrumentos 
para el Desarrollo P roductivo: Jurisdiction nacional: Beneficios impositivos y/o fiscales: Alcances 
horizontal y sectorial: Temas de inversión y competitividad ". Viewed at: 
http://www.instrumentos.mecon.gov.ar/intro_esquema.php .  
3.167.   Argentina continues to apply its import regime for goods forming an integral part of major 
investment projects , which  is intended for industrial enterprises engaged in projects approved by 
the implementing authority to improve their competitiveness.244 This regime reduces import duties 
to 0% and provides for exemptions from the verification -of-destination fee for imports of new goods 
or "parts" of new, complete and autonomous product lines, limited in the latter case to 5% of the 
total f.o.b. value of the goods to be imported. The exemption is conditioned on the purchase of new 
goods of local origin amounting to 20% or more of the tota l value of new goods imported under the 
regime – half of which (10%) can correspond to purchases of  new machinery and equipment of local 
origin.  
3.3.1.2   Sectoral incentives  
3.168.   Argentina continues to apply programmes to promote investment, production, employment, 
innovation and competitiveness in specific sectors. They consist of fiscal incentives (tariff  and other 
tax exemptions  and reductions , as well as financial stability arrangements) and/or non -repayable 
contributions. Sectors benefiting from these programmes in clude agriculture and forestry;245 the 
production of capital goods, information technology and telecommunications  (ITC) equipment;246 
 
244 Former Ministry of the Economy  Resolution No.256/00 of 3 April 2000 and amendments thereto, and 
Secretariat of Industry, Trade and Mining Resolution No. 204/2000 of 5 May 2000 and amendments thereto.  
245 Law No. 25.080 of 19 January 1999, as amended by Law 27.487 of 4 January 2019.  
246 Capital goods and ITC ( Decree No s. 379/2001  and Decree No.  502/2001 ) and the regime to promote 
the software industry  (Law No. 25.922 of 9 September 2004, as amended by Law No. 26.692 of 
18 August  2011).  WT/TPR/S/412 • Argentina  
 
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 the production of automobiles, motorcycles and parts thereof;247 the oil, gas and biofuel industry;248 
mining; shipbuilding;249 biotechnology;250 the audiovisual sector;251 and electric power252 
(section  4). During the period under review , there were no substantial changes in the type of support 
provided or the sectors bene fiting from it. Benefits were in place for the software industry until 
31 December  2019253 but were replaced in 2020 by a new regime to promot e the knowledge 
economy.254 Beneficiaries of the earlier regime can register in the new one.255 
3.169.   In terms of sector -specific incentives, Argentina notified the SCM Committee of its mining 
and forestry subsidy programmes (section 4) and the regime for capital goods  and ITCs.256 
3.170.   The capital goods and ITC regime,  which supports the manufacturers of such goods, was 
started in 2001. The incentive consists of a tax credit voucher equivalent to  a variable percentage 
of sales , capped at  9.6% . The voucher is used to pay taxes due . 
3.171.   In 2019, Argentina notified the WTO th at it did not have specific programmes in place to 
subsidize fisheries during the period between 1 July 2016 and 30 June 2018.257 During the period 
under review, Argentina provided notification of its domestic support commitments for the 2013 -14 
through 201 6-17 crop years (section  4.1).258  
3.3.1.3   Credit programmes  
3.172.   The BNA, BICE the CFI and agencies such as the Secretariat for Small and Medium -Sized 
Enterprises and Regional Development (SEPyME) continue to offer loans to MSMEs and cooperatives 
at preferential rates . This type of loan is made especially for projects that promote employment and 
strengthen production chains and regional development .  
3.173.   The BNA continues to finance business ventures in rural areas  and in  locations far from urban 
centres , as well as MSMEs.  It provides financial assistance for investment and working capital to 
businesses engaged in any business activity , as well as financing and guarantees for foreign 
trade-related activities, particularly exports .259 Together with the MDP 's Producti ve Develo pment 
Fund (FONDEP), the BNA has developed different tools for financing the purchase of capital goods, 
construction work or strategic investment projects in sectors with reduced trade activity owing to 
the pandemic.260  
3.174.   Starting in 2016, as part of a transformation strategy led by the MDP, BICE was transformed 
from a public bank into a development bank providing credit to SMEs. It was also incorporated into 
 
247 Law No. 26.393 7 , of 7 July 2008  (regime to develop a nd strengthen the Argentine auto parts 
industry),  Law No. 27.263 of 1 August 2008 (tax credit for the payment of taxes) and the local investment 
incentive scheme for the manufacture of motorcycles and motorcycle  parts (Law No. 26.457 of 
16 December  2008). 
248 Law No. 26.093 of 15 May 2006 ( regulatory and promotion scheme for the sustainable production 
and use of biofuels ) and Law No. 26.334 of 3 January 2008 ( bioethanol production promotion scheme ). 
249 Law No. 27.418 of 29 November 2017 (regime to promote the Argentine naval industry) and Law 
No.27.419 of 28 December 2017 (Law on the development of the national merchant fleet and regional 
waterway integration) . 
250 Promotion of the development and production of modern biotechnology  (Law No. 26.270 of 
27 July 2007, Decree No.  983/2007 and General Resolution No. 4669/2020).  
251 Law No. 17.741 of 30 May 1968  (Law to promote the national film industry) and its implementing 
decree (No. 1.248/2001) ; and Law No. 26.838 of 23 January 2013.  
252 Law No. 26.190 of 2 January 2007  (national development programme for the use of renewable 
energy sources for electricity production ), as amended by Law No. 27.191 of 21  October 2015.  
253 Law No. 25.922 of 9 September 2004.  
254 Law No. 27.570 of 26 October 2020.  
255 Information viewed at: https://www.argentina.gob.ar/acceder -los-beneficios -del-regimen -de-
promocion -de-la-economia -del-conocimient o. 
256 WTO documents G/SCM/N/253/ARG, G/SCM/N/284/ARG, G/SCM/N/315/ARG of 29 January 2018; 
G/SCM/N/343/ARG of 14 February 2019 and G/SCM/N/343/ARG/Suppl.2 of 4 March 2020.  
257 WTO document G/SCM/N/343/ARG/Suppl.1 of 28 June 2019.  
258 WTO documents G/AG/N/ARG/36 and G/AG/N/ARG/43 – 45 of 24 October 2016 and 
4 September  2019, respectively.  
259 BNA. Viewed at: http://www.bna.com.ar/institucional/institucional.asp  and 
https://www.bna.com.ar/Empresas/Pymes/Creditos . 
260 Viewed at: https://www.bna.com.ar/Personas/CreditoMiPyMEsIP ; and  
https://www.bna.com.ar/Personas/CreditoMedianasEmpresasProyectoEstrategico . WT/TPR/S/412 • Argentina  
 
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  the MDP to align it with the national producti ve development poli cy, expand its volume of activity 
by way of the multilateral banks and federalize its operations to lend more assistance in the country's 
interior, both directly and through other financial institutions. The bank will continue to make 
medium and long -term loans intended for productive investment and foreign trade .261 The CFI 
continues to offer technical and financial assistance to promote the country's comprehensive  
development,262 as well as loans to MSMEs to finance pre -investment and investment projects, 
working capital and export pre -financing. In response to the COVID -19 pandemic, the CFI has 
created tools specifically for the financing of MSMEs.263 
3.175.   The Argentin e Economic Development Fund  (FONDEAR ) was created in 2014 to facilitate  
access to financing at subsidized interest rates as a means to promote investment in strategic sectors 
for economic and social development. It was replaced by FONDEP in 2021 .264  
3.3.1.4   Support for research, development and  improving  competitiveness  
3.176.   Multiple agencies within the Ministr y of Science, Technology and Innovation are developing 
and deploying a series of instruments to promote research, technological development and 
innovation in Argentina. One is the National Agency for the Promotion of Research, Technological 
Development and  Innovation  (Agencia I+D+i)  (formerly the National Agency for the Promotion of 
Science and Technology ). Another is the Under -Secretariat for the Federalization of Science, 
Technology and Innovation (formerly the General Secretariat ), which works together w ith the 
Federal Science and Technology Council (COFECyT) . The National Agency  currently administers three 
funds: the Scientific and Technological Research Fund (FONCyT), the Argentine Technological Fund 
(FONTAR) and the Argentine Sectoral Fund (FONARSEC). The Trust Fund for Promotion of the 
Software Industry (FONSOFT) has been administered since 2018 by the Software Industry  Division 
(DIS).265 
3.177.   Most of the programmes operated by these three funds support any type of enterprise in 
any sector, including SMEs. A s in 2013, they offer non -repayable capital  (ANR), loans or tax credits 
(Table 3.34 ).  
Table 3.34 Incentives for research, development and improved competitiveness, 2013 
and 2020  
(In millions of ARS)  
Programme  Amount awarded in 2013 (December)  Amount awarded in 2020  
ANR Loans  Tax 
credit  Total  ANR Loans  Tax 
credit  Total  
Agencia I+D+i  949 670.4  73.1 1,692.3  2,732.5  386.1  0.0 3,118.6  
FONCyT  263.3  0.0 0.0 263.3  2,423.2  0.0 0.0 2,423.2  
FONTAR  367.8  670.1  73.1 1,110.9  150.3  386.1  0.0 536.4  
FONARSEC  244.5  0.0 0.0 244.5  159.0  0.0 0.0 159.0  
DIS  
FONSOFT  73.4 0.3 - 73.7 n.a. n.a. n.a. n.a. 
COFECyT          
Technological Support for 
the Tourism Industry 
(ASETUR)  11 n.a. n.a. 11 1.5 
 n.a. n.a. 1.5 
 
Technological Support for 
the Tourism Industry  - 
Science and Technology 
Museums, Paleontological 
and Archaeological Sites  and 
Protected Natural Areas 
(ASETUR - MUSEOS)  n.a n.a n.a n.a 1.5 n.a n.a 1.5 
Municipal Technological 
Development Projects  
(DETEM)  9.6 n.a. n.a. 9.6 2.0 n.a. n.a. 2.0 
Federal  Productive 
Innovation  Projects (PFIP)  0.3 n.a. n.a. 0.3 8.0 n.a. n.a. 8.0 
 
 
261 Ministry of Producti ve Development. Viewed at: https://www.produccion.gob.ar/area/bice  
262 Information from the CFI. Viewed at: http://cfi.org.ar/institucion/ . 
263 Information from the CFI. Viewed at: http://cfi.org.ar/nota/financiamiento -de-las-actividades -en-el-
marco -de-la-pandemia -covid-19-2020/ . 
264 Decree No. 1114/2017 of 2 January 2018 and Decree No. 122/2021 of 21 February 2021.  
265 Information provided by the authorities.  WT/TPR/S/412 • Argentina  
 
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 Programme  Amount awarded in 2013 (December)  Amount awarded in 2020  
ANR Loans  Tax 
credit  Total  ANR Loans  Tax 
credit  Total  
Federal  Productive 
Innovation  Projects – 
Environment and Alternative 
Energy (PFIP - MAE)  n.a. n.a. n.a. n.a. 1.0 n.a. n.a. 1.0 
Federal  Productive 
Innovation  Projects – 
Natural Resources (PFIP - 
RRNN)  n.a. n.a. n.a. n.a. 1.0 n.a. n.a. 1.0 
Federal  Productive 
Innovation  Projects – 
Productive Linkages (PFIP - 
ESPRO)  8.1 n.a. n.a. 8.1 4.0 n.a. n.a. 4.0 
Specific Regional 
Bioeconomic Projects 
(PEBIO -R) n.a n.a n.a n.a 1.0 n.a n.a 1.0 
Federal Technology 
Coordinators  29 n.a. n.a. 29 15.0 n.a. n.a. 15.0 
Total 29 n.a. n.a. 29 35.0 n.a n.a 35.0 
n.a. Not applicable.  
Source:  National Agency for the Promotion of Research, Technological Development and Innovation (Agencia 
I+D+i ). Under -Secretariat for the Federalization of Science, Technology and Innovation. Viewed at: 
https:/ /www.argentina.gob.ar/cofecyt ; and information provided by the authorities.  
3.178.   Another new initiative in 2020 was the programme for federal coordination and strengthening 
of COVID -19 science and technology capacities , led by the Under -Secretariats for Institu tional 
Coordination and for the Federalization of Science, Technology and Innovation. The programme 
awarded up to ARS 100 million in ANRs for proposals submitted with provincial government backing 
for solutions to the pandemic in diverse fields of applicat ion, including the development of products 
and materials, control and monitoring, diagnosis and treatment and socioeconomic development . 
Each project selected receives up to ARS  1 million in support.266 
3.179.   Argentina also awards fiscal credits to companies that  support educational institutions. They 
can be used to pay any type of tax but cannot exceed 0.8% of annual payroll for large companies, 
or 8% for SMEs. Tax credits or incentives are also offered for companies investing in R&D.267 
3.3.1.5    Micro, small and medium -sized enterprises (MSMEs)  
3.180.   The MSME sector continues to be extremely important for the Argentine economy and is a 
priority of the national development  strategy . The State seeks to foster and promote the sector 
through various support programmes. According t o information provided by the authorities, in 2020, 
some 541,100 companies (98.7% of all companies) , which  created  approximately 62.8% of 
registered wage jobs , were considered MSMEs; 83% of all exporting companies, producing 17% of 
total goods exported fro m Argentina, had MSME certificates.268  
3.181.   MSMEs are regulated by the Law on Small and Medium -Sized Enterprises (No. 24.467 of 
15 March 1995), as well as the Law for the Promotion of Micro, Small and Medium -Sized Businesses 
(Law No. 25.300 of 7 September 2000). Companies are defined as MSMEs according to their main 
activity, total sales, number of employees (for companies whose main activity is that of commissi on 
agent, consignee or travel agent) and assets (for financial and real estate companies). Such 
companies cannot exceed the billing values specified in the law or employment ceilings, as 
appropriate (Table 3.35). Starting in 2019, companies engaged in fina ncial intermediation, insurance 
services or real estate services can also be listed in  the MSME Register , provided they do not exceed 
the limits  set with respect to sales and assets (ARS 193 million in the latter case) .269  
 
266 Information provided by the authorities.  
267 Agencia Argentina de Inversiones y Comercio Internacional  (2020), Doing Business in Argentina: An 
Investor's Guide . Viewed at: https://www.inversionycomercio.org.ar/docs/pdf/Doing -Business.pdf . 
268 Information provided by the authorities.  
269 Resolution No. 220 of 12 April 2019.  WT/TPR/S/412 • Argentina  
 
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  Table 3.35 Definition of MSMEs  
a) According to total annual sales  
(In millions of ARS)   
Agriculture  Industry and 
mining  Trade  Services  Construction  
Micro  30.77  45.54  57.00  13.1  24.99  
Small  116.30  326.66  352.42  79.54  148.26  
Medium -sized 
(lower bracket)  692.92  2,530.47  2,588.77  658.35  827.21  
Medium -sized 
(upper bracket)  1,099.02  3,955.20  3,698.37  940.22  1,240.68  
b) According to size of workforce  
 
Agriculture   Industry and 
mining   Trade  Services  Construction  
Micro  5 15 7 7 12 
Small  10 60 35 30 45 
Medium -sized 
(lower bracket)  50 235 125 165 200 
Medium -sized 
(upper bracket)  215 655 345 535 590 
Source:  Resolution No. 19/2021 of 30 March 2021; and information viewed at: 
https://www.argentina.gob.ar/produccion/registrar -una-pyme/que -es-una-pyme .  
3.182.   The Secretariat for Small and Medium -Sized Enterprises and Regional Development 
(SEPyME ), under the authority of the MDP, is responsible for promoting the development and growth 
of MSMEs, so as to improve their productivity.270 The Secretariat  implements programmes to 
improve access to credit and develop production capacity using various instruments. Until recently 
it drew on the National Fund for MSME Development (FONAPyME), created in 2000, to provide 
medium and long -term financing, but this was replaced by FONDEP in 2021 .271 it now provides loans 
or subsidizes interest rates through FONDEP. I n an effort to improve access to credit, i t also offers 
guarantees for MSMEs through the Argentine Guarantee s Fund (FOGAR), formerly the Micro, Small 
and Medium -Sized Business Guarantee Fund (FOGAPyME).272 These guarantees allow MSMEs to 
access 0% interest rates.  
3.183.   The Secretariat  is also responsible for administering the National Fund for the Development 
and Strengthening of MSMEs  (FONDYF), which finances working capital, purchase s of raw materials, 
salaries and other operating expenses through lending operations or ANRs when loans are 
inadvisable.273 However, though still established, FONDYF is not currently operating, and its 
remaining funds are administered through FONDEP.  
3.184.    The MSMEs Monitoring and Competitiveness Council , under the authority of the Secretariat , 
is responsible for monitoring the allocation of loans to MSMEs and the impact MSMEs have  on 
production, employment, foreign trade and value chains.274  
3.185.   New instruments have  been created to improve access to credit for MSMEs, including special 
lines of credit offered by  the BNA and BICE for that purpose. In 2016 , a interest rate subsidy scheme  
was set up for new MSMEs or those situated in: (a) regions with unemployment rates higher than 
the national average; (b) the provinces of northern Argentina covered by the Belgrano Plan; or 
(c) regions reporting levels of provincial GDP  below the national average.275 
 
270 Resolution No. 221/2019 of 16 April 2019.  
271 Article 5 of Law No.  25.300, Decree No. 1.074/2001 and Article 37 of Law No.  27.264 of 
1 August  2016. 
272 Law No. 25.300 (creation of FOGAP yME); Article 38 of Law No. 27.264 of 1 August 2016 and Decree 
No. 628/2018 (regulating FOGAP yME). In 2018, the name FOGAP yME was replaced by FOGAR (Article 8 of Law 
No.27.444 of 18 June 2018).  
273 Decree No. 522/1992 (creation of the Comprehensive Credit Programme), Decree No. 993/1999 
(contract for the Comprehensive Credit Programme), Decree No. 1273/2012 (creati ng FONDYF) and Decree  
No. 400/2019.  
274 Article 56 of Law No.  27.264 of 1 August 2016.  
275 Article 42 of Law No. 27.264 of 1 August 2016.  WT/TPR/S/412 • Argentina  
 
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 3.186.   In terms of access to credit, the BNA offers financing programmes for MS MEs, such as the 
Nación Emprende  Programme, to foster entrepreneurship , which is a line of credit for small -scale 
development of a personal or family business in any sector.276 The BNA also offers lines of credit for 
working capital: up to ARS 5 million at a fixed interest rate of 40% for 360 days only. For the BNA's 
"integral "277 customers , FONDEP is used to subsidize the interest rate by 12.1 percentage points 
annually, for a final rate of 27.9%. The subsidy for other clients is 10.5  points for a final rate of 
29.5%, fixed.278 The BNA also offers programmes such as the National Fund for the Creation and 
Consolidation of Microenterprises (FOMICRO) and the Comprehensive Regional Develop ment Fund  
(FONDER), for ventures outside the bank 's traditional lines of business (because of the applicant 's 
profile or particular aspects of the project).279 Through the Regional and Sectoral Development 
Programme (PRODER), the BNA offers loans of up to 9 0% of the total investment for 
microenterprises.280 There are also lines of credit for specific sectors, such as tourism (section 4).  
3.187.   BICE also offers financing for MSME investment projects: up to 7 years and 80% of total 
project investment for the reconve rsion and modernization of producti ve capacity and the purchase 
of new capital goods of national origin. The CFI continues to offer financing to improve  MSME 
competitiveness, with specific guidelines for those engaged in agriculture, apiculture, industry, 
mining and tourism.281  
3.188.   During 2020 and 2021, SEPyME has developed various instruments for federal financing to 
promote the financial inclusion of MSMEs, horizontally and sectorally, including special measures to 
support MSMEs during the health emergency. C redit lines to revitalize production were developed 
jointly with the BNA and BICE for use as working capital, for investment and to finance MSME 
exports. The productive investment credit line offered by BICE provides  quotas of 20% for women -
led enterprises  and 15% for the wine sector. There is also the productive investment line of credit 
for SMEs , which  ) finances investment projects for MSMEs and cooperatives in the industrial, agro -
industrial and industrial service sectors at an interest rate subsidized by FONDEP. It also offers 
interest rate discounts for women -led and exporting SMEs.  
3.189.   The Compremipyme  (Buy MSME ) programme, established by Law No. 25.300/2000, is still 
in operation. It requires national public sector entities to give a 5% preference to MSMEs offering 
goods or services produced in the country. It also establishes a preference of at least 10% in 
competitive bidding processes open to MSMEs only.282 
3.190.   To further strengthen MSMEs, the Law provides for them to be granted special tax  
treatment.283 Consequently, since 2017, MSMEs have enjoyed special tax status, which allows them 
to offset 100% (60% in the case of manufacturers in the "medium -sized-upper bracket") of the  
amount actually paid under the  tax on bank account credits and deb its and other transactions. As 
additional favourable treatment, SMEs are allowed to defer payment of VAT for 90 days.284  
3.191.   The executive branch is also able to implement  programmes to compensat e MSMEs operating 
in border areas for the economic asymmetries an d imbalances resulting from competition with the 
neighbouring  countries. This could be achieved through the differential and temporary use of fiscal 
tools, as well as incentives for investment in production and tourism.  
 
276 BNA. Viewed at: 
https://www.bna.com.ar/Empresas/NewsletterDetalleVersion2?anio=9&nro=33&seccion=Herramientas+de+ne
gocio. 
277 "Integral” customers refers to those clients who, depending on their segment and activity, have 
opened special service accounts for rural customers ( Cuent a Nación Campo ), SMEs ( Cuenta Nación Pyme ) or 
corporate clients ( Cuenta Nación Empresa ), and keep them open for the whole term  of their loan. 
278 BNA. Viewed at: https://www.bna.com.ar/Home/NuestrasPy mes.  
279 BNA. Viewed at: 
https://www.bna.com.ar/Empresas/NewsletterDetalleVersion2?anio=7&nro=26&seccion=Herramientas%20de
%20negocio .  
280 Information from IeralPyme. Viewed at: http://www.ieralpyme.org/noticias/programa -banco -nacion -
fomento -desarrollo -microemp rendimientos -(proder) -280.html .  
281 Information from the CFI. Viewed at: https://creditos.cfi.org.ar/2/45/Linea -para-la-Reactivacion -
Productiva .  
282 Article 39 of Law No. 25.300 of 16 August 2000.  
283 Law No.  27.264 of 1 August 2016.  
284 AFIP General Resolution No. 3878/2016.  WT/TPR/S/412 • Argentina  
 
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  3.192.   Argentina also conducts programmes to promote  training for MSME employees , equipment 
purchases and facility upgrades , using fiscal credit vouchers.285  
3.193.   The Ministry of Science, Technology and Innovation is reducing costs to facilitate access for 
MSMEs to technological innovation programmes designed to compensate for asymmetries in 
productivity.286 FONSOFT, administered by  the Agencia I+D+i, offers financing of up to 
ARS 1.8 million, in the form of ANRs, for projects to improve the productive  structure  and innovative 
capacity of SME s producing goods and services in the software and information technology  services  
sectors.287  
3.3.1.6   Regional incentives  
3.194.   Argentina continues to provide fiscal incentives for investment in different provinces within 
the country.288 Their purpose is to compensate f or disadvantages that may arise in provinces owing 
to the lack of infrastructur e and distance from major markets. The provinces issue their own fiscal 
incentive laws to promote investment and industrial development. These provincial programmes 
have not cha nged substantially since 2013.289 
3.3.2   Standards and other technical requirements  
3.3.2.1   Legal and institutional framework  
3.195.   Punto Focal Argentina,  the country 's focal point for the WTO Agreement on Technical Barriers 
to Trade  (TBT Agreement ) and point of contact for notification of the WTO,290 is managed by the 
National Technical Regulation Directorate  (DNRT ) under the authority of the Under -Secretariat for 
Domestic Market Policies within the MDP 's Secretariat of Domestic Trade . The legal framework for 
the national sta ndards, quality and certification system in Argentina consists of the TBT Agreement , 
incorporated into national legislation by Law No. 24.425 of 7 December  1994, and a series of 
domestic laws, regulations and standards. One of the main regulations in force  is 
Decree  No. 1.066/2018, which relaunched the National Quality System  (SNC) (see below ), and 
specified the functions to be performed within the SNC by national agencies responsible for 
regulating volunteer activity, accrediting conformity assessment bodi es, defining metrics and 
coordinating technical regulators.  
3.196.    The procedures followed to develop technical standards, regulations and other provisions 
are specified in Decrees No s. 333/1985 and 1.172/2003, as supplemented during the period under 
review by Decrees No s. 561/2016, 1.063/2016, and 733/2018, aimed at streamlining and facilitating 
the formalities required to develop such provisions (Table 3.36) . 
Table 3.36 Key legal provisions in the area of technical standards and regulations, 2021  
Provision  Content  
National Executive Decrees 
Nos. 1.474/1994 and  1.066/2018  Created the SNC  
Decree No. 1.172/2003  Regulated access to public information.  
Decree No. 2817/91  Created the National Seeds Institute (INASE).  
Implementing Decree No. 2183/91  Regulated implementation of the Law on Seeds and  Phytogenetic Creations.  
Resolution No. 631/1992  Established requirements for registration in the National  Cultivar Property Register . 
INASE Resolution No. 35/1996  Established requirements for the proper and legal use of seeds.  
Law No. 20.247  of 30 March 1973, on 
Seeds and  Phytogenetic Creations   Promoted seed production and marketing , and protect ed the ownership of 
phytogenetic  creation s. 
Law No. 25.845  of 6 January 2004  Re-established the National Seeds Institute  
Resolution No.338/2006 of the former 
Secretariat of Agriculture, Livestock, 
Fisheries and Food (SGPyA)  Limited use of seeds to the acreage sown during the prior period.  
 
285 Law No. 27.264 of 13 July 2016; Resolution No.  63 of 9 June 2020 and information viewed at: 
https://www.argentina.gob.ar/acceder -credito -fiscal-para-capacitacion -al-personal -de-mi-empresa . 
286 Article 57 of Law No.  27.264 of 1 August 2016.  
287 Viewed at: http://www.instrumentos.mecon.gov.ar/intro_esquema.php .  
288 For example:  Spec ial Tax and Customs Regime  in the Province of Tierra del Fuego, Antarctica and 
the South Atlantic Islands  (Law No. 19.640); Patagonia Rural Development Project (PRODERPA); Law 
No. 22.021  for the p romotion of the  Provinc es of San Luis, La Rioja and Catamarc a. 
289 WTO document WT/TPR/S/277/Rev.1 of 14 June 2013.  
290 Punto Focal Argentina. Viewed at: http://www.puntofocal.gov.ar . WT/TPR/S/412 • Argentina  
 
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 Provision  Content  
Joint General Resolution No. 4.248/18 
issued by the Ministry of Agro -Industry, 
SENASA, INASE and AFIP  Established the Simplified Agricultural Information System  (SISA) and permitted 
control of soya bean varietal identity as incorporated in INASE Resolution No. 378/2018.  
INASE Resolution No. 378/2018  Established the audit procedure for users of soya, wheat and cotton seeds.  
INASE Resolution No. 207/2019  Established the audit procedure for users of barley and pea seeds.  
INASE Resolution No.  72/2019  Established the audit procedure for natural or legal persons using rice and groundnut 
seeds.  
INASE Resolution No.  228/2018  Provided for use of single nucleotide polymorphisms  (SNP)  markers to verify and 
identify soya varieties.  
INASE Resolutio n No. 56/2018  Approved use of the seed import application form generated  by the management 
system , as a sworn statement. Approved the seed export application form, and the 
application forms  for the importation and exportation of seeds of genetically 
modif ied plant organisms (GMO s).  
Administrative Decision No.  311/2018  Created the Directorate of Chemical Substances and Products , charged with proposing 
and implementing action with respect to chemical substances and products, to protect 
the environment.  
Decree No. 504/2019  Designated the Secretariat of the Environment and Sustainable Development as 
implementing authority for the Basel, Rotterdam, Stockholm and Minamata 
Conventions ( Official Journal  23/07/2019).  
Common Market Group ( GMC) Resolution 
No. 40/00  Established MERCOSUR Technical Regulations for the Registration of Medical Products . 
Regulated the registration of medical products  by the National Drugs, Food and Medical 
Technology Administration (ANMAT).  
ANMAT Order  No. 2.318/02   Incorporated GMC Resolution No. 40/00 into national legislation.  
GMC Resolution No. 21/98   Technical Regulation for the authorization of manufacturers and/or importers of medical 
products.  
ANMAT Order  No. 2.319/02  Incorpora ted Resolution GMC No. 21/98 into national law.  
ANMAT Order  No. 3.619/97  Technical Regulation for in vitro diagnostic products.  
ANMAT Order  No. 969/97  Technical Regulation for clinical testing.  
Law No. 14.878 of 6 November 1959, 
General Law on Wines  Regulated wine production and trade  
Resolution No. 121/1993 of the National 
Grape -Growing and Wine Production 
Institute (INV) and Order  No. 1.139/1993  Regulated the importation of wine and grape must.  
INV Resolution No.  181/1994  Added wine colour as an analytical criterion.  
INV Resolution No. 20/2020  Established labelling requirements for the marketing of wine.  
INV Resolution No.  14/2005  Regulated the registration of wine importers.  
INV Resolution No.  36/2012  Wine imports. Required presentation of certified analysis issued by the relevant 
authority in the country of origin, except for countries in the World Wine Trade Group 
(WWTG).  
Circular No. 39/2012  Exempted samples from import controls.  
INV Resolution No.  30/2016  Regulated imports of wine in bulk.  
INV Resolution No.  28/2017  Regulated imports of small volumes of wine . 
INV Resolution No. 20/2020.  Required tags to identify the origin of imported wines . 
Law No. 18.284, Argentine Food Code  Established standards for the production, processing and distribution of food for 
human consumption throughout the country.  
Law No. 27.233 of 29 December 2015  Declared animal and plant health, disease and pest prevention and control, food 
quality and domestic and international trade in food products and by -products to 
be matters of national interest.   
Decree No. 2.126/1971  Approved the harmonized  text and implementing regulations for Law No. 18.284.  
Decree No. 1.490/1992  Created ANMAT.  
Decree No. 815/1999  Established the National Food Control System.  
Decree No. 561/2016  Approved the  Electronic Document Management System  (GDE) . 
Decree No. 1.063/2016  Approved the implementation of the remote procedure management (TAD) 
platform  . 
Decree No. 733/2018  Provided for digital processing of formalities.  
Resolution No. E 90/2017 of the former 
Ministry of Modernization  Regulated use of the GDE system and the TAD platform.  
SENASA Resolution No.  260/2014  Provided for phytosanitary and quality control by SENASA of grain product and 
by-product shipments for export or re -export.  
Resolution No. 799/99 of the former 
Secretariat  of Industry, Trade and 
Mining Established the safety seal to be affixed to products certified by  the mark of  
conformity system.  
Resolution No. 197/2004 of the 
Secretariat for Technical Coordination  Dealt with product certification systems.  
Secretariat of Domestic Trade  Resolution 
No. 344/2021  Procedure for the recognition of certification and inspection bodies and testing 
laboratories assigned to evaluate the conformity of technical regulations issued 
by the Secretariat of Domestic Trade . 
Secretariat of Domestic Trade  Resolution 
No. 282/2014  Transfer and extension of certificates.  
Order  No.178/2000 of the National 
Directorate of Domestic Trade  Products without use rights.  
Resolution No.  237/2000 of the 
Secretariat for Competition and 
Consumer Protection  Mutual recognition and use of plant laboratories.  
Decree No. 274/2019  Fair trade . 
Source:  WTO Secretariat based on information provided by the Argentine authorities.  WT/TPR/S/412 • Argentina  
 
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  3.197.   A series of other laws, decrees and resolutions establish standards and technical regulations, 
both general, such as D ecree No.  733/2018 for the simplification of formalities, and specific in scope, 
such as the Law on Seeds and  Phytogenetic Creations, the Argentine Food Code,  and technical 
regulations applicable to wine and medications. Technical regulations formulated by  MERCOSUR, 
within the framework of the Common Market Group, have also been incorporated into Argentine law 
by national instruments.  
3.198.   Various institutions participate in formulating technical regulatory provisions, including the 
MDP's Secretariat of Domestic Trade , the Secretariat of the Environment and Sustainable 
Development, SENASA, ANMAT and INV (see below ).291  
3.199.   Since the last review in 2013, the authorities have introduced a series of legislative and 
regulatory changes. In November 2018, Decree No . 1.066/2018 relaunched the former National 
Standards, Quality and Certification System , originally created in 1994 (Article  1 of 
Decree  No. 1.474/94  and amendments thereto ). Under a new name, the National Quality System  
(SNC), the system is composed as fo llows: (a) Level 1 consists of: (i) the National Quality Council  
(CNC), responsible for coordinating policies on quality assurance, standardization and certification, 
and (ii) the Advisory Committee , a consultative body;292 (b) Level 2: (i) the National Institute of 
Industrial Technology(INTI), a decentralized agency within the MDP, responsible for formulating, 
maintaining and disseminating national measurement standards; (ii) the Argentine Standards and 
Certification Institute, responsibl e for issuing and updating national standards; (iii) the Technical 
Regulators Commission (CRT), an inter -ministerial committee for coordination among regulatory 
agencies with respect to the TBT Agreement  and the WTO Agreement on  the Application of 
Sanitary  and Phytosanitary Measures  (SPS Agreement) and ensuring adherence to good regulatory 
practices ; (iv) the Argentine Accreditation Agency (OAA), responsible for accrediting certification 
bodies for quality assurance systems, products, services and processes , as well as conformity 
assessment bodies; (c) Level 3: (i) certification bodies (accredited by the OAA) for quality assurance 
systems, products, services and processes, as well as testing and calibration laboratories; (ii) quality 
systems auditors  certified by the OAA.  
3.200.   To simplify the regulations and make the information more transparent, the Simplified 
Agricultural Information System  (SISA) was established to replace the registration and information 
systems for the production and marketing of seed s and grains.293 Administrative Decision 
No. 311/2018 created the Directorate of Chemical Substances and Products, under the authority of 
the Secretariat of Environmental Control and Monitoring, primarily responsible for proposing and 
implementing action an d management tools in respect of chemical substances and products, 
consistent with the international environmental protection commitments undertaken by Argentina. 
Decree No. 1.066/2018 created the CRT as the body responsible for cooperation among the vario us 
regulators, with the aim of standardizing internal processes and improving efficiency and 
transparency.  
3.201.   Decree No. 504/2019 , Official Journal  of 23 July 2019 , designated the Secretariat of the 
Environment and Sustainable Development as implementing auth ority of the Basel, Rotterdam, 
Stockholm and Minamata  Conventions . Within the Secretariat, the Decree created the 
Interministerial Bureau o n Chemical Substances and Products to coordinate activities among the 
various government units concerned with chemica l substances.  
3.3.2.2   National Quality System  
3.202.   The National Quality System ( SNC) regulates standardization and conformity assessment 
activities in Argentina , within a strictly voluntary framework. The SNC is governed by the 
National  Quality Council  (CNC) , composed  of representatives of various government divisions and of 
 
291 ANMAT is responsible for regulating activities for the registration of medical products p ursuant to 
Common Market Group (GMC) Resolution  No. 40/00.  ANMAT Order  No. 2.318/02 incorporated the text of GMC 
Resolution No. 40/00 , MERCOSUR Technical Regulation on the Registration of Medical Products  into Argentina’s 
legal system. Viewed at: http://servicios.infoleg.gob.ar/infolegInternet/anexos/60000 -
64999/63755/norma.htm .  
292 The CNC is composed of seve n ministries: the MDP, and the Ministries of Finance, Foreign Affairs, 
Transport, Health, Social Development, and  Education, Culture, Science and Technology,  as well as the  
Secretary -General of the President's Office,  INTI, IRAM, the OAA and the CRT. 
293 Created by Joint General Resolution  No. 4.248/18  issued by the Ministry of Agro -Industry, SENASA, 
INASE and AFIP  WT/TPR/S/412 • Argentina  
 
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 the standardization and accreditation bodies. The Council  is assisted by a n advisory committee , 
composed of representatives of the sectors concerned. Two bodies are responsible for managing 
technic al matters in the SNC: the Argentine Standards and Certification Institute; and the OAA.294  
3.203.   In implementing the national quality assurance policy, the CNC is responsible for defining 
the strateg ic guidelines , ensuring coordination among SNC members and drafting  annual quality 
plans  on the implementation of the national quality assurance policy,  to guide the activities of public 
and private institutions concerned with different aspects of quality. The plans are generally  aimed 
at promoting competitiveness and protecting consumers. For example, the stated objective of the 
2019 Annual Quality Plan was to promote quality in the production of goods and services and thereby 
strengthen exports through added -value products ; to o pen up domestic and international market 
access for Argentine products and to encourage more complex and diverse production.295 
3.3.2.3   Standardization  
3.204.   The body responsible for developing national standards is the Argentine Standards and 
Certification Institute (IR AM), a private non -profit institution.296 As the national standardization 
agency o perating under the authority of the SNC, IRAM develops, studies and publishes Argentine 
standards in all fields.297 IRAM  is the only state-recognized standards and certificatio n body in 
Argentina and represents the country in international standardization processes. IRAM  is a member 
of the International Organization for Standardization (ISO), and, through the Argentine 
Electrotechnical Committee, of the International Electrotech nical Commission (IEC). It also  
participates  in the Pan American Standards Commission ( COPANT) and the MERCOSUR 
Standardization Association (AMN).  IRAM has been a signatory of the Code of Good Practice for 
Standardization  since 1996.   
3.205.   According to the authorities during this review, the procedures followed by IRAM to develop 
voluntary standards are based on the principles of openness, transparency, consensus, relevance, 
coherence and capacity development, all fully consistent with the principles of the 
WTO TBT Agreement . The procedures followed in studying standards were always in line with the 
relevant ISO/IEC directives and always sought to apply ISO and IEC international standards.298 IRAM 
also advises national, provincial and municipal public agencies , at their request, on standardization 
matters.  
3.206.   The process of developing standards involves more than 250 technical standards bodies 
(committees, subcommittees, commissions and working groups), with the participation of various 
organizations representing  producers, consumers,  academia, and  the scientific and public sector.  
The process starts with the preparation of a project developed by consensus within one of the IRAM 
technical bodies, which is submitted for public discussion during a period of between 60 and 180 
days (with exceptions). The project is then revised to reflect any input received during the public 
consultation phase, submitted for approval to the General Committee on Standards, and finally 
remitted to IRAM  senior managers  for application as  a standard.  
3.207.   IRAM standards apply to multiple sectors of the economy, including food;  environment; fuel; 
construction; energy efficiency; electrical engineering; energy; quality control; mechanics; 
metallurgy and steelmaking; mining; chemicals; social res ponsibility; health; security; and 
information technology. According to information from IRAM, the Institute 's quality policy is aimed 
at developing standards that benefit society and contribute to national sustainability.299 The 
standards published by IRAM  can be reviewed at the request of interested parties, including the 
public sector, applying the same methodology as for the initial study. There is no established 
 
294 Information from IRAM. Viewed at: http://www.iram.org.ar/index.php?id=Sistema -nacional -de-
normas -calidad -y-certificacion . 
295 Information from the MDP. Viewed at: https://www.argentina.gob.ar/noticias/se -aprobo -el-plan-
anual -de-calidad . 
296 IRAM is the implementing authority of National Executive Decree No. 1.474/1994 . An agreement to 
this effect was signed betwee n the authorities  and IRAM . National Executive Decree No. 1.066/2018 confirmed 
the functions conferred upon IRAM by National Executive Decree No. 1 .474/1994.  
297 Information from IRAM. Viewed at: http://www.iram.org.ar /. 
298 Information from IRAM. Viewed at:  http://www.iram.org.ar/index.php?id=Normalizaciones . 
299 Information from IRAM. Viewed at: http://www.iram.org.ar/index.php?id=SGC -Normalizacion . WT/TPR/S/412 • Argentina  
 
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  timetable for periodic review of the standards or confirmation of their continuing validity.  As of 2021, 
IRAM has more than 9 ,000 approved standards.  
3.3.2.4   Technical regulations  
3.208.   The development and review of mandatory technical regulations in Argentina is the 
responsibility of each ministry or regulatory agency. Each institution thus has its own provi sions 
covering how technical regulations in its particular field are prepared  and revised , and, where 
necessary, establishes mandatory requisites for goods marketed in the country, whether produced 
locally or in other countries.  According to the authoritie s, the regulations are intended to ensure 
product safety and set clear standards for particular aspects of product quality and information, 
without unduly encumbering trade.  Technical regulations in Argentina generally continue to be based 
on MERCOSUR standards and the standards and recommendations of such international 
organizations as the ISO, COPANT, the Codex Alimentarius Commission, the International 
Organization of Legal Metrology (OIML) and the IEC.  
3.209.   The agencies engaged in establishing technical regu lations include the following:  the National 
Directorate of Technical Regulations  (DNRT) under the authority of the Under -Secretariat for 
Domestic Market Policies  within the MDP 's Secretariat of Domestic Trade  (SCI); the Secretariat for 
Industry, the Knowledge Economy and Foreign Trade Management; the Secretariat of the 
Environment and Sustainable Development ; INV; SENASA ; the National Food Commission (CONAL) ; 
ANMAT ; the National Gas Regulatory Authority  (ENARGAS) ; the National Entity for Communication s 
(ENACOM);  the Secretariat of Food, Bioeconomy and Regional Development ; the Secretariat of 
Quality Health Care ; and the Ministry of Transport. All of these agencies coordinate their work within 
the framework of the CRT, which has become a coordination fo rum for implementation of the 
TBT Agreement  in Argentina.  The DNRT was created by MDP Administrative Decision No.  1.080/2020 
and assigned primary responsibility for developing, monitoring and implementing technical 
regulations and procedures for conformity  assessment within the framework  of the  TBT Agreement ; 
and for developing policies linked to improving the quality and technical conformity of goods and 
services , in order  to enhanc e competitiveness.  
3.210.   Resolution No. 299/2018, in force during part of the per iod under  review, outlined the 
process for developing and reviewing technical regulations and conformity assessment procedures 
in the former Ministry of Production. The Resolution provided for technical regulations to be proposed 
ex officio  or at the reque st of a  department of the  Ministry, another national government body, or a 
natural or legal person. If the request was accepted , a pre -feasibility analysis was initiated. 
Resolution No. 299/2018 was revoked by MDP Resolution No. 70/2021 as part of a reorga nization 
of government agencies and functions. As of 2021, these functions are performed by the DNRT, 
which conducts a detailed analysis of product scope, technical requirements and standards, and 
proposed implementation plan; performs the conformity asses sment procedure; and elicits the 
opinions of public and private actors. It can also seek a technical endorsement from INTI and/or 
consult with qualified specialists and specialized technical agencies. The DNRT also notifies the WTO 
Secretariat of the propo sed technical regulation for Member s' comments. Argentina 's notifications of 
the WTO are published on the country 's focal point  website. Once the procedures for developing a 
technical regulation and conducting conformity assessments have been finalized, the DNRT 
recommends them to the competent authority, which decides  whether  or not to adopt and apply 
them and publishes its decision in the Official Journal . 
3.211.   The DNRT monitors implementation of the technical regulations  it has  adopted, assesses 
their impact and takes measures as necessary to improve quality and technical conformity. The 
DNRT is authorized to review current technical regulations or conformity assessment procedures and 
propose new ones or adjustments as necessary based on the findi ngs of monitoring and impact 
evaluation  process . This procedure is ad hoc with no pre -established timeframe for the review. T he 
technical regulations of government agencies are generally reviewed ex officio , or at the request , if 
technically justified , of natural or legal persons, but with no set timeframe for that review . It is up 
to the agency responsible for implementing the regulation to review it, as and when it deems fit. 
According to the authorities, such reviews have tended to focus on updating the parameters required 
of particular products, the procedure for demonstrating conformity, or the overall scope of the 
regulation. Technical regulations are generally amended or revoked on the basis of changes in 
technology or international standards.  WT/TPR/S/412 • Argentina  
 
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 3.212.   Betwee n 1 January 2013 and 31 December 2020 , Argentina presented 360  notifications to 
the WTO Technical Barriers to Trade  Committee. Of these, 129 were ordinary notifications, including 
118 concerning draft technical regulations.300 Argentina 's technical regulati ons raised no concerns 
in practice among its trading partners during the period under review.301 
3.3.2.5   Accreditation  
3.213.   The accreditation of bodies for the certification of quality systems, products, services and 
processes, and of testing and calibration laboratorie s, is the responsibility of the OAA, a civil, 
economically -sustain able entity established within the SNC in 1995 to perform the functions set forth  
in National Executive Decree No. 1.474/94.302 The OAA, composed of representatives of producers, 
consumers and the technology sector, is the SNC 's only accreditation body and conducts all 
accreditation activities. It accredits testing and calibration laboratories; clinical laboratories; 
providers of aptitude tests; inspection bodies; and system certification bodies for quality control, 
environmental management, workplace health and safety management, hazard analysis and critical 
control points, food safety management, products and persons.303 
3.214.   Argentina  recognizes foreign certification bodies and laboratories, if accredited by their 
national accreditation agencies, in countries where reciprocity agreement s to such effect are in place. 
Signature of such an agreement facilitates but does not automatically guarantee recognition. The 
OAA represents Argentina in the International Accreditation Forum (IAF), the International 
Laboratory Accreditation Cooperation (ILAC) and the Inter -American Accreditation Cooperation 
(IAAC), in which capacity it has been a signa tory of the multilateral recognition arrangements  (MLAs) 
concluded by those organizations.  
3.215.   The OAA is also the National Monitoring Authority for good laboratory practices within the 
framework of the Organisation for  Economic Co -operation and Development (OECD). In that role it 
monitors conformity with good laboratory practices applicable to the non -clinical study of pesticides, 
biocides and industrial chemical products as required for purposes of registration or marketing 
permits under the OECD Mutual Acc eptance of Data (MAD)  Agreement . The OAA can also conduct, 
if necessary, any other monitoring in accordance with good laboratory practice s, or any other activity 
subject to its mandate  as defined by regulatory authorities or requested by the interested par ties.304 
The OAA is also responsible for conducting any accreditation activity introduced into international 
practice or defined by regulatory authorities.  
3.216.   In the context of this review, the authorities indicated that  the accredit ation of  third-party 
confor mity assessment  bodies is not a requirement for all technical regulations  implemented at the 
national level; determining whether this is necessary  depend s on the analysis undertaken during the 
particular drafting process. They also clarified that OAA regul ations on the accreditation of 
certification bodies and laboratories are consistent with those of the international standardization 
organizations as contained in the ISO/IEC standards (adopted as IRAM standards). For example, 
among other conditions, the en tities concerned must adhere to ISO/IEC guidelines for their activity  
in order to be accredited .305  
 
300 Information from the WTO. Viewed at: 
http://tbtims.wto.org/en/Notifications/Search?page=3&sortBy=DistributionDate&sortDirection=desc&Distributi
onDateFrom=01%2F01%2F2 013&DistributionDateTo=31%2F12%2F2020&NotifyingMember=Argentina&DoSea
rch=True .  
301 Information from the WTO. Viewed at: http://tbtims.wto.org/en/SpecificTradeConcerns/Search . 
302 The OAA is  governed by this Decree and by Resolution No. 90/95 of the Ministry of the Economy, 
Public Works and Services of 26 September 1995, Resolution No. 330/99 of 19 May 1999 of the Secretar iat of 
Industry, Trade and Mining, National Executive Decree No. 73/03 of 13 January 2003, the OAA’s own statutes 
and the principles described in its policies manual.  
303 Information from the OAA. Viewed at: https://www.oaa.org.ar/el -organismo/mision -vision-y-
valores/ . 
304 Information from the OAA. Viewed at: https://www.oaa.org.ar/el -organismo/mision -vision -y-
valores/ . 
305 Resolutions No s. 123/99 (as amended) and 431/99.  WT/TPR/S/412 • Argentina  
 
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  3.217.   The aim of the Calidad Argentina  plan is to promote accreditation as, , according to the 
authorities, there is current ly a shortage  of laboratories accredit ed with the OAA.306 In September 
2019, as part of this plan, a new line of credit was introduced, on preferential terms, to finance the 
OAA accreditation of laboratories and certification and inspection bodies registered as MSMEs. This 
financing, provided b y FONDEP, is intended for laboratories and certification and inspection bodies 
holding valid MSME certificates. Loans of up to ARS  300,000 per beneficiary are provided within the 
framework of the Argentina Exporta programme.  
3.218.   According to information from the OAA, as of June 2021 there were 189 accredited testing 
laboratories; 26 calibration laboratories; 12 clinical laboratories; 7 certification bodies for quality 
control systems; 7 certification bodies for environmental management systems; 25  certificatio n 
bodies for products; 3 certification bodies for persons; 3  certification bodies for food safety 
management systems; 2 certification bodies for hazard analysis and critical control points; 
1 certification body for workplace health and safety management sy stems; 17 inspection bodies; 
and 5  providers of aptitude testing.307 As of the same date, 21  bodies were recognized as being in 
compliance with the  OECD Principles of Good Laboratory Practice .308  
3.3.2.6   Conformity assessment  
3.219.   As of June 2021, 48 certification bodies, mostly private, had been accredited by the OAA for quality 
control systems (7 bodies); environmental management systems (7); products (25); persons (3); food 
safety management systems (3); hazard analysis and criti cal control points (2); and workplace health and 
safety management systems (1).  
3.220.   The main legal framework for the technical regulations of the Secretariat of Domestic Trade  
(SCI) consists of Law No. 24.240, on Consumer Protection, and Decree No.  274/2019 o f 
17 April 2019, on Fair Trade, from which the cross -cutting and specific technical regulations are 
derived. Decree No. 274/2019 makes the SCI the implementing authority, responsible for 
establishing safety requirements for products or services not specifi cally regulated by other laws.  
3.221.   The certification bodies assigned to systems (for quality control, products, services and 
processes), as well as the inspection bodies and testing and calibration laboratories for the 
conformity assessment of technical regula tions within the  SCI's purview , must meet the 
requirements established in SCI Resolution No. 344/2021 of 9 April 2021, (which revoked Resolution 
No. 262/2019 and established specific conformity assessment systems for the technical bodies). The 
Resolution e mpowers the SCI, as the implementing authority, to define and modify the conformity 
assessment systems applicable to the technical bod ies for each of the technical regulations within 
its purview; to recognize technical bodies as qualified to deal with thos e technical regulations and to 
periodically review that recognition. An annex to the Resolution establishes a series of requisites 
which, depending on the system assigned for the technical regulation in question, may or may not 
include accreditation with t he OAA, in accordance with ISO/IEC series 1700 standards . The technical 
bodies must have legal personality and qualified personnel in the country. They must also assume 
civil, co mmercial, administrative and criminal liability for their recognized functions  and maintain 
civil liability insurance coverage commensurate with the risks of their activity, and no less than 
400 times the adjustable  minimum living wage (SMVM)  in the case of certification bodies; 150 times 
the SMVM for testing laboratories ; and 100 t imes the SMVM for inspection bodies.  
3.222.   All technical bodies must meet the requirements established in Resolution No.  344/2021 but 
that alone does not qualify them to deal with a particular technical regulation. To obtain that 
qualification a n interested technical body must apply for recognition from the SCI, using the 
TAD Platform,  and submit documentation demonstrating fulfilment of the previously established 
requisites according to the conformity assessment scheme for that regulation. The S CI examines 
the application and documentation, and if necessary, directs the body to rectify defects in the 
documentation within 45 days. Applications and recognition must refer to a particular certification 
regime and product category. To maintain recogni tion under the various conformity assessment 
 
306 Resolut ion No. 380/2019. Information from MDP. Viewed at: 
https://www.argentina.gob.ar/noticias/el -gobierno -lanzo -una-linea-de-hasta -300-mil-para-financiar -la-
acreditacion -de-laboratorios . 
307 Information from the OAA. Viewed at: https://www.oaa.org.ar/buscador/entidades -acreditadas/ . 
308 Information from  the OAA. Viewed at: https://www.oaa.org.ar/buscador/entidades -bpl/. WT/TPR/S/412 • Argentina  
 
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 systems, technical bodies must issue documents attesting to the conformity assessment findings 
based on verifiable information or data.  
3.223.   The Under -Secretariat for Domestic Market Policies, under the authority of  the SCI, as 
implementing authority for SCI Resolution No. 344/2021, is authorized to enter into agreements 
with the OAA for the purpose of establishing guidelines for the development of technical body 
accreditation schemes and applying conditions beyond th ose indicated in ISO/IEC 17011. It can also 
record in the technical regulations the acceptance of testing reports issued by foreign -based 
technical bodies accredited with an accreditation agency that has signed multilateral recognition 
arrangements  to whic h the OAA is a party . 
3.224.   To administer the certification of products covered by technical regulations, mandatory 
certification systems have been established by means of regularly revised resolutions, specifying the 
certification system to be used and the  symb ols and labels that products must display 
(Table  3.37).309 All certification bodies and laboratories contributing to the certification of conformity 
and related testing protocols under mandatory certification systems for products and services 
regulated by the SCI must meet the requisites established in Resolution No. 344/2021. According to 
the legislation, marketers of products and services subject to mandatory certification systems must 
furnish the SCI with authenticated copies of certificates of conformity  issued by recognized 
certification bodies , prior to any marketing.310  
Table 3.37 Technical regulations, 2021  
Product  Legal provision  
Steel products  Resolution No. 404/1999; Resolution No. 924/1999; Order  No. 960/1999 (establishing 
monitoring systems) and Order  No. 747/2001  
Domestic appliances / energy 
labelling  Resolution No. 319/99; Order  No. 35/2005; Order  No. 86/2007; Order  No. 859/2008; 
Order  No. 761/2010; Order  No. 246/2013; Order  No. 219/2015; Order  No. 230/2015; 
Order  No. 170/2016, Order  No. 172/2016, Resolution No. 795/2019, Resolution No. 
800/2019 and Resolution No. 834/2019.  
Appliances, equipment, accessories 
and receptacles for gaseous fue ls Resolution No. 676/99 (suspended by Resolution No. 55/2005)  
Lifts Resolution No. 897/1999  
Safety auto parts  Resolution No. 166/2019; INTI Order  No. 218/11; SICPME Resolution No. 25/07; SICPME 
Resolution No. 273/04; SICM Resolution No. 43/03; SICM Resolution No. 838/99; Decree 
No. 779/95; Law No. 24.449  
Sunglasses and spectacle frames  Resolution No. 269/2019  
Aluminium bars and profiles  Resolutio n No.158/2018, as amended and supplemented.  
Bicycles  SIC and Pyme Resolution No. 220/2003. Standard applicable IRAM 40020: 2017  
Bicycles with electric pedal 
assistance or  Electronically Power 
Assisted Cycles  (EPAC) SIC and Pyme Resolution No. 220/2003, as amended and supplemented; Joint Resolution 
SC E-28/2017 IRAM 60020:2017.  
Children 's bicycles  SCT Resolution No. 91/2004. Standard applicable NM 301: 2004  
Steel cables  Resolution No. 153/2018 (suspended by Resolution No.208/2021)  
Cement fo r construction  Resolution No.  54/2018  
Solar collectors or systems  Resolution No. 753/2020  
Toys and childcare articles 
containing phtalates  Resolution No. 2/2011 of the Ministry of Health with annexes and supplementing 
documents  
Inflatable tubes and tires for bicycles  Resolution No. 281/2018, as amended and supplemented.  
Sworn Declaration of Product 
Composition (DJCP)  SC Resolution No. E404/2016 (textile products, clothing and foot wear) 
Personal protection for workers  Resolution No. 896/1999  
Lighters  Resolution No. 77/2004  
Electrical equipment  Resolution No. 169/2018 as amended by Resolution 836/2019.  
Pressurized equipment  Resolution No. 347/2018  
Footwear labelling  Resolution No. 465/2018, as amended and supplemented  
Textile lab elling  Resolution No. 287/2000  
Toys Resolution No. 163 -2005 + Annex II (as amended)  
Packaging paper  Resolution No. 653/1999, as amended and supplemented.  
Batteries  Resolution No. 21/2019 Secretariat of the Environment and Sustainable Development  
Graphic  paper products  Resolution No. 453/2010  
Aluminium radiators  Resolution No. 599 -E/2017  
Chemical substances  Law No. 24 .534; Law No. 26 .247; Decree No. 920/1997; SICM Resolution No. 904/1998  
Plywood  panels  Resolution No. 900/2017  
 
309 Resolution No. 197/04 (as amended) and Resolution No. 799/99 (as amended).  
310 Resolution No. 123/99 (as amended).  WT/TPR/S/412 • Argentina  
 
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  Product  Legal provision  
Wood -based  panels  Resolution No. 240/2019  
Construction materials  Resolution No. 21/2018  
Wood furniture  Resolution No. 494/2018 as amended by Resolution No.52/2019.  
Inks, lacquers and  varnishes 
containing lead  Resolution No. 453/2010; Order  No. 26/2012; Resolution No. 685/2015  
Flexible aluminium tubes  Resolution No.  3/2018 (suspended by Resolution No. 208/2021)  
School supplies  Resolution No. 680/2015 (suspended by Resolution No. 126/2016)  
New vehicles for sale, model 
configuration permit (LCM)   SI Resolution No. 323/2014; Law No. 24 .449; Decree No. 779/1995 Annex P and Annex R; 
SICM Resolution No. 838/1999; SI Resolution No. 64/2001; SICPME Resolution No. 
276/2006; SICPME Resolution No. 283 /2008; INTI Order  No. 294/2010; DNI Order  No. 
325/2010; Decree No. 32/2018 - Annex "C"; SICM Resolution No. 325/00; Resolution No. 
41-2018 
Industrial valves  Resolution No. 92/2019 (suspended by Resolution No.208/2021)  
Source:  WTO Secretariat based on inf ormation from INTI.  
3.225.   The certification body for INTI is one of the entities assigned to certify products (on a 
voluntary and regulated basis) as well as processes and persons. INTI is Argentina 's only public 
sector certification body  and provides its endors ement as an independent third party to certify that 
products, processes and persons meet applicable standards and technical specifications.311 
3.226.   For products subject to mandatory  certification, each of the resolutions and updates thereof 
must specify the technical regulations and standards to be met for certification , and the procedure 
to follow to obtain that certification . For example, in the particular case of textiles and foot wear, a 
Sworn Declaration of Product Composition (DJCP) (textile products, clothing and footwear ), is 
required prior to marketing, together with verification of the labelling and market samples. The 
certification process unfolds in four phases: (a) phase  1: certification request ; (b) phase  2: 
conformity assessment; (c) phase  3: issuance of certificate/seal of conformity; and (d) phase  4: 
oversight  or monitoring. For the certification of regulated products, the recognized certification 
bodies issue a conform ity certificate. This document , as well as a seal of conformity , can also be 
issued in the case of voluntary certification. Where certification is mandatory, the applicant must be 
legally domiciled in Argentina.  
3.3.3   Sanitary and phytosanitary requirements  
3.227.   As is the case with the technical regulations, a number of institutions are involved in the 
development of sanitary and phytosanitary measures within their area of expertise. SENASA, a 
decentralized body under the Ministry of Agriculture, Livestock and Fisheri es (MAGyP), is responsible 
for implementing national policy on animal and plant health and quality, and on the quality and 
safety of food, and for ensuring compliance with the law.312 The National Drugs, Food and Medical 
Technology Administration (ANMAT) is  responsible for regulations governing procedures for the 
registration of medical products, while the National Grape -Growing and Wine Production Institute 
(INV)  is tasked with developing sanitary measures for grape -growing and wine production. The 
National  Seed Institute (INASE) is responsible for introducing measures related to seeds. The 
National Food Control System (SNCA), composed of SENASA, ANMAT and the National Food 
Commission (CONAL), was created by Decree No.  815/99 to ensure that the entities whic h make up 
the SNCA enforce the Argentine Food Code (see below) throughout the country.  
3.228.   SENASA has three technical national directorates in charge of implementing sanitary and 
phytosanitary measures: the National Plant Protection Directorate (DNPV), the Nat ional Animal 
Health Directorate (DNSA) and the National Food Quality and Safety Directorate (DNICA). The 
functions of the DNPV include developing and proposing phytosanitary regulations governing forestry 
production and the import, export, processing, stor age, packing, transport and marketing of plants 
and their products and by -products, so as to preserve the country's phytosanitary status and help 
protect public health. The DNSA is responsible for formulating animal health legislation to safeguard 
the prod uction, import, export, international transit and welfare of livestock and the identification, 
traceability, transport and marketing of animals and their reproductive material. The DNSA is also 
responsible for  proposing and implementing technical and admin istrative rules concerning the 
 
311 Information from INTI. Viewed  at: https://www.inti.gob.ar/areas/servicios -
regulados/certificaciones/organismo -de-certificacion.  
312 Decree No.  1.585/96, Article 2.  WT/TPR/S/412 • Argentina  
 
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 registration of veterinary products and the listing, authorization, control and certification of plants 
to be processed, fractionated and stored.  The DNICA drafts, amends and updates regulations relating 
to hygiene, safety an d quality of raw materials that affect the trade of products, by -products and 
derivatives of animal and plant origin and animal feed, at the national and international level.  
3.229.   CONAL is tasked with proposing updates to the Argentine Food Code, using internat ional 
standards and MERCOSUR agreements as a benchmark. It also recommends uniform deadlines, 
requirements and procedures for conducting inspections and authorizing establishments and 
products, as well as for processing, preparing, storing, fractionating a nd marketing them throughout 
Argentina. In addition, it maintains the Single National Register of Products and Establishments. 
Another of its functions is to facilitate the establishment of cooperation mechanisms between public 
and private organizations to  ensure the effective sanitary control of foods.  
3.230.   The Argentine Food Code (Law No. 18.284 of 1969 (as amended)) sets out the underlying 
legal framework for the development of sanitary and phytosanitary measures in Argentina and 
establishes the rules to be f ollowed when producing, marketing, importing and exporting food for 
human consumption in order to protect the health of the consumer.  The Code is also the framework 
law governing the SNCA.313 Moreover, there is a series of legal instruments that regulates aspects 
of plant and animal health, including products, by -products and derivatives of animal and/or plant 
origin, agrochemical products, animal imports and propagation material (Table 3.38).  
Table 3.38 Legislation relating to sanitary and phytosanitary measures, 2021  
Legal instrument  Content/description  
Grape -growing and wine 
production activity   
Law No.  14.878 of 6  November  1959  General Law on Wines  
INV Resolution No.  2/2018  Establishing upper limits for the release of wine for consumption and export  
Products, by -products and derivatives of animal and/or plant origin  
Decree No.  815/1999  National Food Control System  
SENASA Resolution No.  816/2002  Procedure for audits in countries that export products and by -products of animal or 
plant origin to Argentina  
SENASA Resolution No.  492/2001  Register of importers and exporters  
Resolution No.  1354/1994 of the 
former SENASA  Authorization procedure for importing animals  
Resolution No.  1415/1994 of the 
former SENASA  Regulations governing reproductive material  
SENASA Resolution No.  260/2014  Regulating phytosanitary and quality controls of grain products and by -products  
SENASA Resolution No.  559/2011  Approving the maximum residue limits (MRLs) on products of animal origin for the 
main active principles used in the preparation of veterinary products  
SENASA Resolution No.  569/2010  Computerized procedure for requesting and issuing the phytosanitary import 
authorization (AFIDI)  
SAGPyA Resolution No.  292/1998  Approving the instructions for the general post -entry quarantine procedure for plant 
propagation material  
SENASA Resolution No.  764/2020  Phytosanitary requirements for seagoing vessels from countries where Lymantria 
dispar is present  
Animals and genetic material   
SENASA Resolution No.  512/2011  Sanitary requirements for authorizing the entry of live animals and their breeding 
material, and products and by -products derived therefrom  
Agrochemical and biological active principles and products, plant therapy products and fertilizers  
SAGPyA Resolution No.  350/1999  Manual of Procedures, Criteria and Cove rage for the Registration of Phytosanitary 
Products in the Argentine Republic  
SENASA Resolution No.  264/2011   Manual of Procedures for registration in the National Register of Fertilizers, 
Dressings, Substrates, Protectors, Conditione rs and Raw Materials  
Structure of SENASA   
Administrative Decision 
No. 1881/2018  Approving a new organizational structure for SENASA  
Animal and plant health   
Law No. 27.233 of 
29 December  2015  Declaring the health of animals and plants to be of national interest  
Sanitary transit   
Joint SENASA and AFIP Resolution 
No. 4297/2018, amending Decree 
No. 815/99  Approving the electronic plant health transit document (DTV -e) as the only valid 
transit document for domestic or imported products, by-products and derivatives of 
plant origin  
Importation of animals   
SENASA Resolution No.  76/2019  Removing the register of importers and exporters of animals, plants, reproductive 
and/or propagation material, products, by -products and/or derivatives of animal or 
plant origin, created by SENASA Resolution No.  492/2001  
Importation of formulated phytosanitary products of foreign origin  
SENASA Resolution No.  660/17  Import authorizations of formulated phytosanitary products of foreign origin  
Traceability of phytosanitary and veterinary products  
 
313 Decree No.  815/99 (as amended).  WT/TPR/S/412 • Argentina  
 
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  Legal instrument  Content/description  
SENASA Resolution No.  369/13  Creating the Traceability System for Phytosanitary and Veterinary Products  
SENASA Resolution No.  125/2014  Mandating compliance with the requirements set out in bilateral  agreements signed 
by the DNPV  
Plant propagation material   
DNPV Order No.  4/2013  Implementing the National Health Programme for Plant Propagation, 
Micropropagation and Breeding Material, created by Resolution No.  203/2012  
Bovine spongiform encephalopathy (BSE)  
SENASA Resolution No.  238/2015  Categorizing the risk of bovine spongiform encephalopathy (BSE) being introduced 
from other countries  
Single Window for Argentine Foreign Trade (VUCEA) and the simplification of administrative procedur es 
Joint Resolution of AFIP 
No. 3.981/2016 and the INV 
No. 234/2016  Incorporating exports of grape and wine products subject to intervention by the INV 
into the VUCEA system  
Joint General Resolution of AFIP 
No. 3.972 and SENASA Resolution 
No. 774/2016   Incorporating exports of goods of animal or plant origin into the VUCEA and  
approving the computerization of phytosanitary inspection and quality controls  
SENASA Resolution No.  75/2019  Requiring applications for export authorisation certificates and import authorisation 
certificates to be made through the VUCEA or the remote pr ocedure management 
(TAD) systems.  
SENASA Resolution No.  1.165/2019   Simplifying administrative procedures for the import of goods covered by the 
benefit s provided for under Law No.  25.613 (tariff -free import for research) in which 
SENASA must intervene  
Active principles and veterinary products  
SENASA Resolution No.  22/2019  Prohibition on the preparation, distribution, import, use and possession of 
veterinary products containing the active principle colistin and its salts  
Source:  WTO Secretariat, based on information provided by the Argentine authorities.  
3.231.   Some of the main legal provisions related to sanitary and phytosanitary measures adopted 
during the review period include: (i) SENASA Resolution No.  76/2019, which removes the register 
of importers and exporters of animals, plants, reproductive and/or propagation material, products, 
by‑products and/or derivatives of animal or plant ori gin or goods containing ingredients of animal 
and/or plant origin among their components; (ii) SENASA Resolution No.  369/13, which creates the 
Traceability System for Phytosanitary and Veterinary Products, whereby all veterinary product 
transactions in the  commercial chain throughout Argentina, including national and imported 
products, and the various types of retail premises selling such products are recorded. The system 
requires a seller and a buyer; (iii) SENASA Resolution No.  125/2014, which makes it ma ndatory for 
those who intend to engage in the export, import or international transit of products and by -products 
of plant origin to comply with the requirements established in bilateral agreements signed by the 
DNPV; and (iv) DNPV Order No.  4/2013, which creates SENASA's National Phytosanitary Register of 
Propagation, Micropropagation and/or Breeding Material Operators.  
3.232.   Only authorized imports of products and by -products of plant or animal origin or regulated 
food items that meet all the relevant sanitary, phytosanitary, zoosanitary and/or safety requirements 
in each instance are permitted to enter the country. In order to obtain authorization, the importer 
must complete all the necessary formalities, including the registration of each product and/ or 
operator, the authorization of the establishment/plant of origin and approval of the audits at origin, 
where appropriate (Table 3.39).  
Table 3.39 Main sanitary and phytosanitary requirements and procedures,  2021  
Procedure  Requirement  
Authorization of new products at cargo 
terminals by SENASA  Cargo terminals within the jurisdiction of SENASA must be authorized and 
registered for foreign trade operations  
Import/export of live animals  Entry or exit must be processed by SENASA  
Import of products and by -products of 
animal origin  Authorization from SENASA is required  
Import/export of animal feed  Authorization from SENASA is required  
Import/export of animal reproductive 
material  The international veterinary c ertificate must be processed by SENASA  
Registering and keeping veterinary product 
signatures  Registration with SENASA is required in order to manufacture, market, 
import or export veterinary products  
Submitting a sworn declaration of wooden 
packaging for  import  Authorization from SENASA, obtained through a sworn declaration, is 
required to import goods packed in wooden packaging  
Requesting authorization to import or export 
veterinary products  For veterinary products to be imported or exported, SENASA must process 
the relevant authorization certificate  
Applying to SENASA for a Phytosanitary 
Import Authorization (AFIDI)  An AFIDI is required to import plants or parts thereof, wood, used 
agricultural machinery and other items that may carry pests  
Requesting authorization for the 
import/export of fruits and vegetables 
intended for industry  Authorization is required to import or export fruits and vegetables intended 
solely for industry  WT/TPR/S/412 • Argentina  
 
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 Procedure  Requirement  
Requesting phytosanitary certification for 
imports  To import pro ducts and by -products of plant origin, an application for an 
import certificate must be filed with SENASA  
Requesting technical evaluations for the 
import/export of unregulated products and 
by-products of animal origin  When importing and/or exporting products and by -products of animal origin 
not covered by current regulations, an application needs to be filed with 
SENASA for a case -by-case evaluation before marketing authorization is 
granted  
Requesting an evaluation of special cases for 
import/export certification  In foreign trade operations involving plant products, any special cases or 
situations must be evaluated by SENASA for sanitary certification purposes  
Requesting a phyto - and zoosanitary permit 
for international transit from SENASA  An international transit permit is required for the international transit of 
products of animal or plant origin  
Authorizing and renewing authorization for 
quarantine treatment centres (Single 
Continuous Oversight System (SUFP*))  Quarantine treatment centres dealing with pests of various plant products 
must be authorized by SENASA  
Authorizing and renewing authorization for 
artificial insemination centres  Such centres must be authorized by SENASA  
Authorizing and renewing authorization for 
mobile genetics laboratories  Such laboratories must be authorized by SENASA  
Applying for accreditation of enterprises 
providing treatment for Asian and Japanese 
gypsy moths  Enterprises wishing to engage in the cleaning of vessels suspected of 
having Lymantr ia dispar must be accredited by SENASA  
Listing and re -listing in the Phytosanitary 
Register of Cotton Producers  All agents in the cotton production chain must be entered in SENASA's 
Phytosanitary Register of Cotton Producers  
Listing in the National Sanitary Register of 
Agricultural Producers (RENSPA)  Registration in the RENSPA, kept by SENASA, is required in order to market 
animals, plants and/or agri -food products  
Registration and re -registration of grape 
harvesting machines  Machinery used  for harvesting grapes must be listed in SENASA's National 
Register of Grape Harvesting Machines  
Registration, re -registration and removal of 
plant nurseries  National Phytosanitary Register of Propagation, Micropropagation and/or 
Breeding Material Operat ors (RENFO)  
Requesting transit documents for animals or 
by-products  An electronic transit document (DT -e) is required in order to move animals 
and by -products within Argentine territory  
Applying for an electronic plant health transit 
document (DTV -e) A plant health transit document (DTV) must be requested from SENASA in 
order to move products of plant origin  
Source:  SENASA.  
3.233.   By its Resolution No.  76/2019 of 30 January 2019, SENASA removed its register of exporters 
and/or importers of animals, plants, repr oductive or breeding material, products, by -products and/or 
those derived from animals or plants, or goods that contain ingredients of animal and/or plant origin 
among their components, created by SENASA Resolution No.  492 of 6 November 2001. Where 
require d by current health regulations, SENASA will obtain information from the Register of 
Importers and Exporters of AFIP's Directorate -General of Customs (DGA) and the Single Register of 
Operators in the Food Processing Chain, created by Resolution No.  21-APN-MA of 23  February  2017 
of the former Ministry of Agro -Industry.  
3.234.   A number of products are subject to sanitary/phytosanitary controls when imported or 
exported; these controls are carried out by SENASA, ANMAT and the INV, depending on the 
product.314 For example, all shipments of products and by -products of grains for export or re -export 
must be subject to phytosanitary and quality controls by SENASA.315 
3.235.   The issuing of an import authorization may require a risk analysis, depending on the product 
and th e sanitary situation in the country of origin of the goods. For example, when importing a plant 
product, SENASA, through the Directorate of Foreign Plant Trade (DCEV), a department under the 
DNPV, may order an audit of the entire sanitary system of origin or an audit of the production chain 
for the goods intended for import specifically. Moreover, should SENASA or the DCEV and DNPV 
consider it necessary, the authority responsible for phytosanitary matters in the country of origin 
and/or provenance must prov ide guarantees for its national control system, which must have 
systems for auditing the entire production and marketing chain for plant products. The importation 
of plant products within ANMAT's jurisdiction that might involve a phytosanitary risk require s 
authorization and/or inspection from SENASA. In general, imported products of animal or plant 
origin, whether or not packaged for direct sale to the public, are controlled by SENASA, with the 
exception of edible oils which are the responsibility of ANMAT . 
3.236.   Imports of plants or parts thereof, whether in their natural state or processed to some 
degree, wood, products and derivatives of plant origin or goods and/or inputs containing components 
of plant origin believed to pose a phytosanitary risk require, in addition to the authorization issued 
 
314 Decree No.  1.585/96,  Article 2.  
315 SENASA Resolution No.  260/2014. Viewed at: 
http://servicios.infoleg.gob.ar/infolegInternet/anexos/185000 -189999/185170/texact.htm . WT/TPR/S/412 • Argentina  
 
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  by SENASA, a Phytosanitary Import Authorization (AFIDI), also issued by SENASA (DCEV). Products 
of plant origin that have undergone industrial or technological processing and are therefore believed 
not to be  directly affected by crop pests do not require an AFIDI; however, they are inspected upon 
entering Argentina.316 The AFIDI is the document indicating the phytosanitary requirements that 
must be met by products of plant origin. SENASA assesses AFIDI applica tions on a case -by-case 
basis. The document is valid for two months in the case of imports for consumption, and nine months 
for imports for propagation and growth media. It may be used for multiple shipments during these 
periods. The AFIDI must be processe d via the management system for imported plant products 
(SIGPV_IMPO) and must be accompanied by a SENASA import certificate, following a physical and 
documentary verification of the goods in accordance with the phytosanitary requirements for import 
as set out in the AFIDI. The importer must be registered in the DGA's Register of Importers and 
Exporters. In the case of seeds, an import application authorized by INASE should also be presented. 
A flora certificate is required for live specimens, products and b y-products of wild flora.317 Where the 
goods are placed in wood packaging, a sworn declaration of wood packaging and wood for carriage 
and stowage must be presented in accordance with SENASA Resolution No.  614/2015.  
3.237.   Imports of plants, cuttings, buds and bul bs, which are considered to be products of greater 
phytosanitary risk, are to be quarantined upon entry. Products of plant and animal origin imported 
for the first time may be subject, if SENASA deems it necessary, to a prior inspection at origin.  
3.238.   The deta ils of the phytosanitary policy  are developed through the DCEV, which has the 
authority to establish the phytosanitary requirements for import after consulting the DNPV's various 
agencies, where necessary. Pest risk analyses are used to determine phytosani tary requirements. 
The country of origin of the goods is informed of the requirements and may make remarks and 
comments. Any changes deemed necessary and appropriate in the light of these remarks are made 
and the exporting country is notified for final con firmation or further comment. Once confirmation is 
received or the comments have been evaluated, the DCVE prepares the definitive import 
requirement and notifies the WTO.  
3.239.   The DNSA sets animal health standards based on the recommendations of the World 
Organ isation for Animal Health (OIE) and on the latest scientific information available. Some animal 
health standards are defined at the MERCOSUR level by the Animal Health Commission and the Plant 
Health Commission of Working Subgroup (SGT) No.  8 on agricultur e and the Food Commission of 
SGT No.  3 on technical regulations and conformity assessment. These standards are issued in the 
form of resolutions of the MERCOSUR Common Market Group, which are then incorporated into 
Argentine law.  
3.240.   Importing live animals and  genetic material requires authorization from SENASA, which is 
based on a technical evaluation. This authorization must be obtained before the animals or genetic 
material are shipped from the exporting country and is valid for 30 days from the date of appr oval.318  
3.241.   The DNICA is responsible for designing food product legislation. SENASA has the authority 
to suspend the import of food products if their entry involves a proven risk for human, animal or 
plant health.  In the event of a recurrence, the complete su spension of the import authorization for 
a specific origin may be ordered. Moreover, SENASA has the power to change the specific import 
requirements to align them with the international reference standard. The WTO should be notified 
of such changes.  
3.242.   The de velopment of sanitary and phytosanitary measures follows an established procedure. 
Annex II of SENASA Resolution No.  401/2010 contains a manual of legislative techniques and 
procedures for developing standards,319 and SENASA Resolution No.  712/2016 sets out  the 
procedure for SENASA to follow when handling draft legislation. Annex I of the Resolution establishes 
requirements for the various stages of the development process of a new SENASA standard, namely 
 
316 SENASA. Application  for a Phytosanitary Import Authorization (AFIDI). Viewed at: 
https://www.argentina.gob.ar/solicitar -autorizacion -fitosanitaria -de-importacion -afidi.  
317 SENASA. Application for phytosanitary certification for imports. Viewed at: 
https://www.argentina.gob.ar/solicitar -certificacion -fitosanitaria -de-importacion .  
318 SENASA Resolutions Nos.  1354/94, 1415/94, 816/02 and 512/2011, and information provided by the 
authorities.  
319 Viewed at: http://servicios.infoleg.gob. ar/infolegInternet/anexos/310000 -
314999/310951/norma.htm . WT/TPR/S/412 • Argentina  
 
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 authorization to create and/or amend a new standard, the drafting of the legislative proposal, the 
internal consultation process, consultation with related sectors, legal analysis, public consultation 
and the preparation of the final draft.  
3.243.   During the period under review, a significant change was introduced which placed limits on 
the possible duration of sanitary or phytosanitary measures for the first time. Annex I, Article 3, of 
Ministry of Agro -Industry Resolution No.  381/2017 provides that all standards of the former Ministry 
of Agro -Industry and its dece ntralized agencies (including SENASA) imposing obligations on citizens 
and issued after the entry into force of the Resolution should expressly set a period of validity not 
exceeding four years, which may be extended once by a reasoned decision of the comp etent 
authority with the rank of under -secretary or higher.  
3.244.   Between 1 January 2013 and 31 December 2020, Argentina submitted 99 SPS notifications 
(including addenda and corrigenda) to the WTO, of which three were notified as emergency 
measures.320 During th is period, no other WTO Members expressed any new trade concerns 
regarding the sanitary and phytosanitary measures adopted by Argentina. Since the creation of the 
WTO in 1995, seven such concerns have been raised regarding the measures taken by the country , 
but none of them were during the review period.321 
3.3.4   Competition policy and price controls  
3.3.4.1   Competition policy  
3.245.   The National Commission for the Defence of Competition (CNDC) is currently the institution 
responsible for implementing competition policy in Argen tina via the Law on the Defence of 
Competition until such time as the National Competition Authority, created by the new competition 
law, is formed (see below). The CNDC is a decentralized body of the Secretariat of Domestic Trade 
under the current Ministr y of Productive Development. Its aim is to protect the general economic 
interest.  
3.246.   The CNDC may conduct preventive and penalty procedures and it is authorized to make 
cease and desist orders and/or call for any behaviour or act that distorts or impairs comp etition to 
be changed, in line with the interests of the public at large. As part of its investigative powers, the 
CNDC may adopt interim measures, petition the courts to seize assets, and search and attach goods. 
To achieve its objectives, the CNDC: (i) i nitiates preliminary enquiries into reports of 
anti-competitive practices, abuses of a dominant position and cartel arrangements; (ii) analyses the 
structures of markets and business control chains in economic concentration operations; 
(iii) investigates t he behaviour and structures of specific markets; and (iv) makes recommendations 
to foster competition and promote competition culture.322 
3.247.   Law No.  26.993 of 27 September 2014 amended the Law on the Defence of Competition 
(No. 25.156) then in force, and Regul atory Decree No.  718/2016 declared the Secretariat of 
Domestic Trade of the Ministry of Production (now the Ministry of Productive Development) to be 
the implementing authority of the Law on the Defence of Competition and the amendments thereto. 
As such, t he Secretariat was authorized to issue any explanatory and supplementary regulations 
necessary to apply the Law.  
3.248.   During the review period, Argentina passed a new competition law to modernize its 
legislation and incorporate new elements such as leniency programmes and civil fines in favour of 
 
320 These notifications can be viewed at: 
http://spsims.wto.org/en/Notifications/Search ?DoSearch=True&NotifyingMember=Argentina&NotificationForma
ts=1&NotificationFormats=7&NotificationFormats=200&NotificationFormats=201&NotificationFormats=202&No
tificationFormats=203&NotificationFormats=8&NotificationFormats=9&DistributionDateFrom=01%2F01%2F 201
3&DistributionDateTo=31%2F12%2F2020&DisplayChildren=true . 
321 Information from the WTO. Viewed at: 
http://spsims.wto.org/en/SpecificTradeCo ncerns/Search?ProductsCoveredHSCodes=&DoSearch=True&Number
OfSpecificTradeConcern=&FirstDateRaised=true&FirstDateRaised=false&DateSubsequentlyRaised=true&DateS
ubsequentlyRaised=false&MarchApril=true&MarchApril=false&JuneJuly=true&JuneJuly=false&October=true &Oc
tober=false&YearFrom=&YearTo=&Participation=101&Members=Argentina&Title=&Keywords=&DateReportedA
sResolvedFrom=&DateReportedAsResolvedTo=&DescriptionOfContent= . 
322 Information from the CNDC. Viewed at: 
https://www.argentina.gob.ar/defensadelacompetencia/funcion -y-objetivos . WT/TPR/S/412 • Argentina  
 
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  the injured party. The amendment was introduced under Law No.  27.442 of 9 May 2018 and its 
implementing regulation, Decree No.  480/2018. The Law draws a distinction between prohibited 
practices, wholly anti -competitive practices and anti -competitive practices. Furthermore, it expressly 
prohibits agreements between competitors, economic concentrations and any act or conduct relating 
to the production of and trade in goods or services aimed at, or having the ef fect of, limiting, 
restricting, falsifying or distorting competition or market access, or constituting abuse of a dominant 
position in a market in such a manner as might be prejudicial to the general economic interest.  
3.249.   Agreements consisting of contracts, c ompacts or arrangements between competitors are 
regarded as wholly anti -competitive practices and are presumed to harm the general economic 
interest where they have the purpose or effect of: (a) directly or indirectly concerting the selling or 
purchase pri ce of goods or services offered or demanded on the market; (b) establishing obligations 
to produce, process, distribute, purchase or market only a restricted or limited quantity of goods 
and/or providing a restricted or limited number, volume or frequency of services; (c) horizontally 
sharing, dividing, distributing, assigning or imposing territories, portions or segments of markets, 
customers or sources of supply; and (d) establishing, concerting or coordinating positions or 
abstaining from tenders, compet itions or auctions. Such agreements are considered null and void 
and will therefore have no legal effect.  
3.250.   The Law applies to all natural or legal persons, public or private, for -profit or non -profit, that 
undertake economic activities in all or part of Arg entine territory, as well as those engaged in 
economic activities outside the country, insofar as their acts, activities or agreements have potential 
effects on the domestic market. The Law contains a list of anti -competitive practices (Box  3.1). 
Box 3. 1 Anti-competitive practices under the 2018 Law on the Defence of Competition  
The Law contains a list of acts that constitute anti -competitive practices:  
• directly or indirectly fixing the selling or purchase price of goods or s ervices at which they are offered 
or demanded on the market, and exchanging information for the same purpose or with the same 
effect;  
• fixing, imposing or manipulating in any way, directly or indirectly, conditions for: (i) producing, 
processing, distribu ting, purchasing or marketing only a restricted or limited quantity of goods, 
and/or (ii) providing a restricted or limited number, volume or frequency of services;  
• agreeing to limit or control technical development or investment in the production or mar keting of 
goods and services;  
• preventing, hampering or obstructing third parties from entering or remaining in a market or 
excluding them therefrom;  
• affecting markets for goods or services, by means of agreements to limit or control research and 
technolo gical development, the production of goods or the provision of services, or to obstruct 
investment for the production of goods or services or their distribution;  
• subordinating the sale of one good to the purchase of another or to the use of a service, or 
subordinating the provision of one service to the use of another or the purchase of a good;  
• making a purchase or sale conditional on not using, purchasing, selling or supplying goods or 
services produced, processed, distributed or marketed by a third party;  
• imposing discriminatory conditions on the acquisition or disposal of goods or services without 
reasons founded in commercial practice and custom;  
• unjustifiably refusing to satisfy specific requests for the purchase or sale of goods or services, 
made on th e terms and conditions prevailing in the market in question;  
• suspending the provision of a market -dominating monopoly service to a provider of public or public 
interest services;  
• selling goods or providing services at below cost, without reasons founded in  commercial practice 
and custom, for the purpose of driving competition out of the market or harming the image or 
assets or brand of providers of goods or services;  
• natural persons simultaneously acting as directors or holding key managerial positions in t wo or 
more competing enterprises.  
Source:  Law No.  27.442 of 9  May 2018.  
3.251.   The 2018 Law on the Defence of Competition (LDC) created the National Competition 
Authority (ANC) as a decentralized and autonomous body under the national executive in order to 
implement and monitor compliance with the Law. It provides that the CNDC will continue to act with 
its current structure under the Secretariat of Domestic Trade of the Ministry of Productive 
Development until the organizational structure of the ANC becomes  fully operational.323 The 
 
323 Article 5 of implementing Decree No.  480/2018 states that the Secretariat of Domestic Trade will act 
as the implementing authority with all the po wers granted to the ANC under Law No.  27.442 and its WT/TPR/S/412 • Argentina  
 
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 Competition Court (TDC), the Secretariat for the Investigation of Anti -Competitive Practices and the 
Secretariat for Mergers and Acquisitions will operate under the ANC.324 The President of the TDC will 
also preside over the ANC. A s of June 2021, the ANC has not yet been established.  
3.252.   All powers relating to the subject matter of the 2018 LDC granted to State bodies or entities 
have been withdrawn by law. Only the ANC has the authority to hear matters concerning the 
implementation of the 2018 Law. The Chamber for the Defence of Competition was set up to act as 
a specialist chamber under the National Chamber of Civil and Commercial Appeals. Headquartered 
in the Autonomous City of Buenos Aires (CABA), it will be the judicial body respons ible for reviewing 
decisions rendered by the TDC and for resolving all cases where concentration notifications are 
required. The TDC will be composed of five members and will have the power to make general or 
sector -specific recommendations; issue non -binding opinions on matters of free competition in 
relation to laws, regulations, circulars and administrative acts; cooperate with the competent bodies 
in the negotiation of international treaties, agreements or conventions regulating competition policy; 
carry out market studies and research; and impose penalties as provided for in the LDC.  
3.253.   Pursuant to the Law, the Secretariat for the Investigation of Anti -Competitive Practices will 
be the division of the ANC in charge of receiving and processing complaints of  law violations, deciding 
on their admissibility and proposing the penalties under the Law to the TDC. The Secretariat for 
Mergers and Acquisitions will be responsible for receiving and processing concentration notifications 
and issuing opinions on their a dmissibility, lodging complaints ex officio  for concentrations where 
notification should have been given but was not, issuing opinions on any approval, subordination or 
rejection of the notified operation, and issuing opinions on appeals against the acts o f the TDC in 
relation to economic concentrations.  
3.254.   Until the ANC is established, the National Directorate for Anti -Competitive Practices of the 
CNDC will continue to be responsible for instituting and coordinating proceedings to investigate, 
combat and sanc tion anti -competitive practices, preparing decisions for consideration by the CNDC 
authorities on practices that have a negative impact on market competition, and proposing penalties. 
The National Directorate for Mergers and Acquisitions is tasked with ini tiating and coordinating 
concentration analysis procedures, monitoring acts leading to an economic concentration and 
preparing decisions within its competence for the consideration and signature of the CNDC 
authorities.  
3.255.   The 2018 Law on the Defence of Competition places the TDC in charge of administering the 
National Register for the Defence of Competition, in which concentration operations and final 
decisions are to be recorded. As the TDC has not yet been established, the Register was created 
within t he competence and under the control of the CNDC Registry Directorate, in accordance with 
CNDC Order No.  75/2019 of 30  August  2019. The Register contains information on the final decisions 
of the CNDC (type of procedure; the type, number and date of the dec ision, appeal and any 
withdrawal; or amendment of the measure) and on the concentration operations notified (date of 
notification and a non -confidential description of the operation submitted by the parties).  
3.256.   The Law defines a dominant position as the exis tence of a sole supplier or customer for a 
specific type of product or service on the domestic market or in another part of the world or, if there 
is more than one, where the supplier or customer is not exposed to substantial competition or, owing 
to the d egree of vertical or horizontal integration, is in a position to affect the economic viability of 
a competitor in the market. To establish the existence of a dominant position, the following factors 
are taken into consideration: (a) the extent to which the  good or service in question cannot be 
substituted by another, whether of national or foreign origin, as well as the conditions of such a 
substitution and the length of time it would require; (b) the extent to which legislative restrictions 
limit access of  products, suppliers or customers to the market in question; and (c) the extent to 
 
implementing regulations, until the ANC is established and operational. Article 6 of the same implementing 
Decree provides that, until the organizational structure of the ANC becomes fully operational, t he CNDC will 
continue to function with its current structure.  
324 For the purposes of the 2018 Law on the Defence of Competition, the members of the ANC are: 
(i) the President and members of the Competition Court, (ii) the Secretary for the Investigation of 
Anti-Competitive Practices, and (iii) the Secretary for Mergers and Acquisitions. Each member will have a five -
year term.  WT/TPR/S/412 • Argentina  
 
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  which the alleged offender can unilaterally influence price formation and the extent to which 
competitors can offset this influence.  
3.257.   The Law on the Defence of Competition pr ohibits economic concentrations whose purpose or 
effect is or might be to restrict or distort competition in a such a manner as might be prejudicial to 
the general economic interest. The Law requires notification before the completion of a concentration 
where the total business volume of the group of enterprises involved exceeds the equivalent of 100 
million unidades móviles  (adjustable units of account) in Argentina.325 The previous law set the 
threshold at ARS 200 million, the value of which fell over time  due to inflation. The 2018 LDC 
establishes exhaustive criteria for determining whether enterprises should be included in the 
minimum business volume requiring notification.326 The Law introduced another change, which was 
not yet in force as of June 2021, w hereby the concentration can only be completed once approved 
by the ANC. The previous law allowed notification to be given up to one week after the effective 
completion of the transaction, meaning that there was really no preventive control of mergers.327 
Concentrations not approved by the ANC are invalid and those involved are liable to sanctions.  
3.258.   Under the Law, an economic concentration is exempt from notification where neither the 
amount of the operation nor the value of the shares in question located in Argentina exceed 
20 million adjustable units, unless operations with a total value in excess of this amount were carried 
out in the same market within the preceding 12 months, or 60 million adjustable units in the 
preceding 36 months. The following acquisi tions are also exempt from the notification requirement: 
(a) enterprises in which the buyer already owns more than 50% of the shares and the nature of the 
control remains unchanged;328 (b) acquisitions of company bonds, debentures, non -voting shares 
or debt  securities; (c) the takeover of a single enterprise by an individual foreign firm that has not 
previously held assets (other than residential assets) or shares in other enterprises in Argentina and 
whose exports were not significant, habitual and frequent  in the preceding 36  months; and 
(d) enterprises that have not recorded any activity in the country in the last year.  
3.259.   After notification, the TDC or CNDC should decide whether to authorize the operation, 
authorize it subject to certain conditions or refuse  authorization within 45 days of submission of all 
the information.329 If the notified operation is believed to have the potential to restrict or distort 
competition and harm the general economic interest, the TDC, before making a decision, will inform 
 
325 The 2018 Law on the Defence of Competition defines total business volume as the amount resulting 
from the sale of products, the prov ision of services and direct subsidies received by the enterprises involved 
during the preceding financial year from their ordinary activities, after deduction of sales discounts, VAT and 
other taxes directly related to business volume. The adjustable unit  (UM) is a unit of account created by the 
LDC, initially fixed at ARS 20. Resolution of the Secretariat of Domestic Trade, under the Ministry of Productive 
Development, No.  13/2020 of 23 January 2021 changed the value of the adjustable unit to ARS 40.61. T he 
Resolution can be viewed at: https://www.argentina.gob.ar/normativa/nacional/resoluci%C3%B3n -13-2020-
334071 . Resolution of the Secretariat of Domestic Trade, under  the Ministry of Productive Development, 
No. 151/2021 of 21 February 2021 set the value of the adjustable unit at ARS 55.29 for 2021. The Resolution 
can be viewed at: https://www.argentina.gob.ar/normativa/nacional/resoluci%C3%B3n -151-2021-
347277/texto .  
326 The business volume criterion is applied to: (a) the target enterprise in a change of control; 
(b) enterprises in which the target enterprise directly or indi rectly holds more than half of the capital or 
working capital, has the power to exercise more than half the voting rights or to appoint more than half the 
members of the supervisory board or the board of directors, or the right to manage their affairs; (c)  the 
enterprises taking control of the target enterprise; (d) enterprises in which the enterprise taking control of the 
target enterprise holds the rights or powers listed in (b); (e) enterprises in which an enterprise referred to in 
(d) holds the rights l isted in (b); (f) enterprises in which several enterprises referred to in (d); and (g) jointly 
hold the rights or powers listed in (b).  
327 The Law provides that the obligation to notify prior to the merger will not enter into force until one 
year after the ANC becomes operational, which, as of June 2021, has not yet happened. In the meantime, 
notification of economic concentrations with a total business volume of more than 100 million adjustable units 
must be made in advance or within one week of the date of  signature of the agreement, the publication of the 
offer of purchase or exchange of shares, or the acquisition of a controlling interest. The one -week period runs 
from the occurrence of the first of these events.  
328 This change was introduced by the new La w; the previous law made no reference to change of 
control as a requisite for exemption from notification. However, according to the authorities, it was later 
included in 2018 LDC because exemption due to change of control had been established in the CNDC' s 
administrative case law.  
329 The CNDC already applied this summary procedure in practice. The new feature of the 2018 LDC is 
that it authorizes the TDC to establish a summary procedure for economic concentrations that, in its view, are 
less likely to be co vered by the ban on restricting or distorting competition.  WT/TPR/S/412 • Argentina  
 
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 the parties of its objections and convene a special hearing to consider possible measures to mitigate 
the negative effect on competition. In this case, the deadline for the TDC's decision may be extended 
by up to 120 days. If no decision has been taken before the expiry of the time limit set out in the 
LDC, the operation shall be deemed to have been authorized tacitly.330 Where the concentration 
involves services regulated by the State through a regulatory authority, the CNDC shall, within three 
days of notifica tion of the operation, request the regulatory authority to provide a reasoned opinion 
on the proposed concentration, indicating the potential impact on competition in the relevant market 
or on compliance with the relevant regulatory framework. The regulato ry authority should issue its 
opinion within a maximum period of 15 days, after which time it shall be understood that the 
authority does not object to the operation. The opinion shall not be binding.  
3.260.   Decree No.  480/2018, implementing the Law on the Defenc e of Competition, provides that 
authorization for a concentration expires if the operation is not carried out within one year of tacit 
authorization or of notification of express authorization.  
3.261.   From the entry into force of the Law and its implementing regu lation until March  2021, 
254 economic concentrations were reviewed,331 of which 147 were approved under Law No.  25.156 
(in accordance with Article 81 of the 2018 Law on the Defence of Competition), 94 were approved 
under Law No.  27.442 exclusively, 3 were r ejected under Law No.  25.156 and 1 was dismissed as 
the case was moot. In 9 of these cases, it was held that the operation was not subject to the 
notification requirement and in 2 cases fines were imposed for late notification.332 During the period 
2013-20, the CNDC made 870 decisions concerning concentrations. Of these, 796 were approved, 
22 were conditionally approved, 3 were approved with fines imposed, 19 were rejected, 12 were not 
subject to notification and 18 were dismissed. During the review period, 444 decisions were taken 
regarding anti -competitive practices and fines totalling ARS 1,332 million were levied. The industries 
and activities covered include medicines and health services, the automotive industry, 
telecommunications, cleaning products and  intellectual property.  
3.262.   The investigation procedure for an alleged anti -competitive practice may be initiated 
ex officio  or following a complaint from any public or private natural or legal person. The procedures 
are public for the parties and their defenders, but secret for those outside the case. Once the 
summary investigation is complete or once the 180 -day time limit ha s expired, a decision must be 
made regarding the admissibility of the notification, and the alleged offenders must be given 20 days 
in which to present their defence and adduce the evidence they deem relevant. The TDC or the CNDC 
will rule on the admissibi lity of the evidence and their decisions are not subject to appeal. The 
evidentiary period lasts 90 days, renewable for another 90 days. After the expiry of this period, the 
parties and the Secretary for the Investigation of Anti -Competitive Practices have  six days in which 
to present their arguments regarding the merits of the evidence. The competition authority will then 
take a decision within a maximum of 60 days. Before the decision is rendered, the alleged offender 
may agree to the immediate or gradual  cessation of the practices under investigation or to change 
certain aspects related thereto. If an agreement is reached, the authority may decide to suspend 
proceedings and, after three years of compliance with the agreement, the case shall be closed. 
Otherwise, penalties may be imposed.  
3.263.   The penalties that may be applied for failing to comply with the Law include the cessation of 
the acts or conduct and the reversal of their effects; the application of fines; the imposition of 
conditions; and removal from the register. More specifically, those who carry out the prohibited acts 
set out in the Law will be fined: (i) up to 30% of the business volume from the products or services 
involved in the unlawful act during the previous financial year, multiplied by the  duration of the act 
in years. This amount may not exceed 30% of the consolidated national business volume recorded 
in the preceding financial year by the economic group to which the offenders belong; or (ii) up to 
double the reported economic benefit from  the unlawful act. If both methods can be used to calculate 
the fine, the higher amount shall be levied. If the fine cannot be determined using these methods, 
it may be set at up to 200 million adjustable units.333 Where acts constituting an abuse of a domi nant 
 
330 Under the 2018 Law, concentrations that have been notified and authorized may not subsequently be 
challenged before the administrative courts based on information and documentation verified by t he TDC or 
CNDC, unless the decision relied on false or incomplete information.  
331 Information provided by the CNDC.  
332 Information provided by the CNDC.  
333 The Law provides that, where the offences are committed by a legal person, the fine may also be 
applied to the executives, managers, directors, trustees or members of the supervisory board, agents or legal 
representatives thereof, who, by their action or omission, contributed to, encouraged or permitted the WT/TPR/S/412 • Argentina  
 
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  position are discovered or where a monopoly or oligopoly position is found to have been acquired or 
consolidated, the authority may impose conditions to neutralize the distorting effects on competition 
or apply to the competent court for the offending  enterprises to be dissolved, liquidated, 
decentralized or split. Those responsible for anti -competitive practices may also be removed from 
the National Register of Government Suppliers for up to five years, or up to eight years in the case 
of strictly pro hibited practices.  
3.264.   Those who fail to fulfil their obligation to notify a concentration when required to do so or 
who fail to abide by an agreement with the authority to cease their conduct are liable to a fine at a 
daily rate of up to 0.1% of the consolida ted national business volume recorded in the preceding 
financial year by the economic group to which the offenders belong. If this method is not applicable, 
a fine of up to 750,000 adjustable units per day may be imposed. Those who obstruct or impede an 
investigation or who fail to meet the authority's demands within the established time limits and 
following the procedures laid down are liable to fines of 500 adjustable units per day.  
3.265.   The 2018 LDC introduced a leniency programme whereby any natural or legal  person who 
has been or is party to a wholly anti -competitive practice may disclose and admit this to the authority 
and benefit from a reduction of, or exemption from, the fine. Exemption will be granted where 
information is provided that permits the exist ence of the anti -competitive practice to be established 
in cases where there was not sufficient evidence beforehand and, at the same time, the offending 
practice is ceased and the offender collaborates with the investigation.334 Where further incriminating 
evidence is submitted and, at the same time, the offending practice ceases immediately and the 
offender collaborates with the investigation, the penalty may be reduced by between 20% and 50%. 
Where two or more participants are involved in concerted anti -competitive conduct, they may not 
jointly benefit from a reduction of or exemption from the penalties or fines.  
3.266.   The decisions of the TDC or CNDC are subject to appeal within 15 working days of notification 
thereof in cases involving: (a) the application of p enalties; (b) the cessation of or abstention from a 
practice; (c) objection to or the imposition of conditions on a concentration operation; (d) the 
dismissal of a complaint by the implementing authority; and (e) the rejection of an application under 
the leniency programme. The appeal and its argumentation should be submitted to the TDC or CNDC, 
which should refer the appeal, together with its response, to the competent court within 10 days of 
submission. Appeals relating to penalties shall have suspensive effect when proof is provided of 
fidelity insurance for the corresponding penalty. The Chamber for the Defence of Competition, 
created by the 2018 Law on the Defence of Competition, shall be the competent appeal court and 
judicial body responsible for revi ewing penalties and administrative decisions.  
3.267.   Changes to competition legislation have been positively received, both in Argentina and 
abroad. A recent study by an Argentinian law firm found that "Law No.  27.442 manages to address 
most of the problems posed  by the implementation of Law No.  25.156, in force from 1999 to date, 
by seeking to create a truly independent authority, increasing the interest and tools necessary to 
prosecute cartels, increasing fines, implementing a leniency programme, promoting priva te litigation 
and easing the burden on the excessively bureaucratic process for controlling mergers currently in 
place".335 The authorities believe that the civil fine336 introduced by the Law will serve as a key 
incentive for increasing private litigation, thereby enhancing the enforcement of anti -trust laws. 
Meanwhile, a recent report published by the OECD states that the new competition regime adopted 
in Argentina is in line with international good practices on the effective enforcement of competition 
law against cartels and against bid rigging in public procurement.337 
 
infringement. In this case, the aforementioned natural persons and the legal person may lose their 
authorization to trade for between 1 and 10 years.  
334 However, the TDC or CNDC may ask the leniency appl icant to continue the offending act or conduct 
in cases where it is deemed necessary to continue the investigation.  
335 Miguel Del Pino & Santiago Del Rio, Marval, O'Farrell & Mairal abogados (2018), La nueva Ley de 
Defensa de la Competencia: los cambios que  toda empresa debe tener en cuenta.  Viewed at: 
https://www.abogados.com.ar/la -nueva -ley-de-defensa -de-la-competenc ia-los-cambios -que-toda-empresa -
debe-tener -en-cuenta/21487 . 
336 Article 64 of the Law states that, at the behest of the aggrieved party, persons who fail to comply 
with the law are liable to pay a civil fine to that party. The fine shall be determined by the  competent judge 
taking into account the seriousness of the offence and the other circumstances of the case, regardless of any 
other compensation owed.  
337 OECD (2019), Fighting bid rigging in the procurement of public works in Argentina 2019  WT/TPR/S/412 • Argentina  
 
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 3.268.   Law No.  24.240 on Consumer Protection, enacted on 22 September 1993, protects 
consumers' rights and covers the production, assembly, creation, construction, processing, 
importation, branding,  distribution and marketing activities of goods and services intended for 
consumers or users. The Law is binding on all suppliers, but it does not cover liberal professional 
services.338 
3.3.4.2   Price controls  
3.269.   Argentine legislation allows authorities to intervene to tackle distortions in the market, 
including through price regulation. In this regard, Argentina continues to apply price regulation and 
marketing policies. The authorities have pointed out that the purpose of these policies is to promote 
consu mption, strengthen domestic production and combat speculation.  
3.270.   Law No.  26.991, or the New Regulation on Production and Consumption Relations enacted 
on 18 September 2014, amending the Law on Supply, No.  20.680 of 1974, authorizes the 
implementing authority  to: (a) establish, at any stage of the economic process, profit margins, 
reference prices and maximum and minimum prices, or all or some of these measures; (b) issue 
marketing, intermediation, distribution and/or production regulations; (c) establish, whe re 
necessary to ensure the supply and/or provision of services, minimum levels or quotas for 
production, processing, marketing, transport, distribution or provision of services taking into account 
the normal volume of production, manufacture, sales or prov ision of services, as well as productive 
capacity, the economic situation of the party concerned and the economic equation of the process 
or activity. According to the Law, the measure adopted must be economically viable or, failing this, 
fair and appropri ate compensation should be offered.  
3.271.   Law No.  26.991 applies to the selling or buying, bartering or leasing of goods, works and 
services, including their direct or indirect raw materials and inputs, and to services that directly or 
indirectly cater to the ba sic or essential needs for the general well -being of the population.339 Micro, 
small and medium -sized enterprises (MSMEs) are exempt provided that they do not hold a dominant 
position within the meaning of the 2018 Law on the Defence of Competition.  
3.272.   The mea sures contained in Law No.  26.991 may be adopted where: (i) there is an artificial 
or unjustified price increase that does not proportionately match rising costs, or excessive profits 
are made; (ii) inventories are re -evaluated without express authorizatio n from the implementing 
authority; (iii) raw materials or products are hoarded, or inventories are formed that are larger than 
necessary to meet demand; (iv) stages of distribution and marketing are artificially created; 
(v) goods or merchandise are destro yed or the provision of services is obstructed; (vi) the sale of 
goods or provision of services is unjustifiably denied or restricted, or, without reason, normal 
production is reduced or not increased to meet demand; (vii) normal supply from one zone to 
another is diverted or discontinued without good cause; (viii) goods and services with maximum and 
minimum prices or fixed profit margins are not put on sale or production is discontinued; or (ix) no 
invoice or bill of sale is issued.  
3.273.   According to the author ities, the provisions of Law No.  26.991 were recently applied as a 
result of the COVID -19 pandemic: (a) in the case of alcohol gel (and all similar products for hand 
washing containing alcohol as their key ingredient), the prices were reset to the levels a s at 15 
February 2020 and the reference prices for sale to consumers were fixed. The measure was in place 
for 90 days340 and was extended for a further 60 days;341 (b) in the case of body contact 
thermometers, sale prices were temporarily reset to levels as at 6 March 2020 for all economic 
agents involved in the production, distribution and marketing chain;342 (c) the marketing of 
"N95 and/or surgical and/or triple -layer masks" was restricted solely to natural persons with a valid 
document proving their status  as health service professionals or staff.343 This measure was in place 
for 90 days and not extended; (d) a maximum sale price was established for the active principle 
 
338 The text of t he Law No.  24.240 may be viewed at: 
http://servicios.infoleg.gob.ar/infolegInternet/anexos/0 -4999/638/texact.htm . 
339 The text of the Law may be viewed at: 
http://servicios.infoleg.gob.ar/infolegInternet/anexos/235000 -239999/235279/norma.htm . 
340 SCI Resolutions No.  86/2020, Official Journal of 12 March 2020, and No.  115/2020, Official Journal of 
17 April 2020.  
341 SCI Resolution No.  151/2020, Official Journal of 3 June 2020.  
342 SCI Resolution No.  114/2020, Official Journal of 17 April 2020.  
343 SCI Resolutions No.  114/2020 and No.  144/2020, Official Journal of 29 May 2020.  WT/TPR/S/412 • Argentina  
 
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  "Nusinersen (Spinraza®) 12mg/5mL", a solution for intrathecal injection, for the duration  of the 
health emergency declared by the national government in Decree No.  260/2020344; (e) in November 
2020, maximum prices were established for medicines to combat the COVID -19 pandemic intended 
for sale to health agencies in the public, private and socia l security subsystems throughout the 
country. The measure was in place for 150 days and not extended.345 
3.274.   A system of penalties was established for those who: (a) artificially or unjustifiably raise 
prices in a manner disproportionate to cost increases, or w ho make excessive profits; (b) re -evaluate 
inventories without express authorization from the implementing authority; (c) hoard raw materials 
or products, or form larger -than-necessary inventories; (d) unnecessarily act as an intermediary or 
allow a person  to act as an intermediary, or create artificial distribution and marketing stages; 
(e) destroy goods or merchandise, obstruct the provision of services or perform any other act 
intended to reduce production, sales or transport; (f) unjustifiably deny or r estrict the sale of goods 
or provision of services, or, without reason, reduce normal production or fail to increase it, having 
been called upon to do so by the implementing authority and while having productive capacity; 
(g) divert or discontinue normal s upply from one zone to another without good cause; (h) do not 
make available for sale or discontinue the production of goods and provision of services with 
maximum and minimum prices or fixed profit margins; and (i) do not issue an invoice or bill of sale.  
Those who engage in the acts outlined above are subject to penalties in the form of: fines of up to 
ARS 10 million or triple the profit obtained from the offence; closures of establishments for up to 
90 days; disqualification from using or renewing loans from public institutions for up to two  years; 
confiscation of the infringing goods and products; loss of authorization to trade and disqualification 
from public office for up to five years; suspension from registers of government suppliers for up to 
five y ears; and loss of concessions, privileges or entitlement to special tax or credit regimes. The 
size of the company in economic terms, its position in the market, the effect and significance of the 
offence and the harm caused to the market or consumers are taken into account when determining 
the penalties.  
3.275.   Law No.  26.991 authorizes provincial governors and/or the head of the City of Buenos Aires 
government to set maximum prices and similar measures within their respective jurisdictions where 
such measures ar e not in place at the national level. Within their jurisdictions, the authorities may 
also reduce the prices set by the national authority where the circumstances so warrant. They may 
not, however, increase the prices without permission from the national a uthority.  
3.276.   The 2002 Public Emergency and Exchange Regime Reform Law called for the renegotiation 
of contracts for the supply of public services.346 To this end, the Public Utility Contracts Renegotiation 
and Analysis Unit (UNIREN) was created under the Ministry of the Economy and Public Finance 
(MEFP) by Decree No.  311 of 3 July 2003. Renegotiations have taken place in sectors including 
transport ser vices, telecommunications, electric power and water. However, from 2006, these 
contracts were not renegotiated. In order to conclude the renegotiation process for public works and 
services contracts as provided for in Article 9 of Law No.  25.561, Decree No . 367/16, repealing 
Decree No.  311 of 3 July 2003, instructed the ministries responsible for renegotiating their respective 
contracts to continue doing so.  The competent ministries were authorized to sign partial contract 
renegotiation agreements and trans itional price and tariff adjustments jointly with the Ministry of 
the Economy and Public Finance to ensure that the provision of services would continue as normal 
until the full contractual negotiation agreements are concluded. These agreements will be bas ed on 
the outcome of a comprehensive tariff review. According to the authorities, the following were 
subject to tariff adjustments and renegotiations under this piece of legislation: (a) propane and 
natural gas prices at the point of entry;347 (b) concessio n of the Urquiza and Belgrano Norte lines of 
the metropolitan rail passenger services;348 (c) licensing contracts for the transport and distribution 
 
344 SCI Resolution No.  202/2020, Official Journal of 1 July 2020.  
345 Joint Ministry of Health and SCI Resolution No.  1/2020, Official Journal of 6 November 2020.  
346 Law No.  26.729 of 28  December  2011 extends the validity of the Emergency Law (Law No.  25.561 of 
30 January  2002) until 31  December  2013.  
347 Resolution No.  E 212/2016 of the Ministry of Energy and Mining, Official Journal of 7 October 2016, 
sets the prices at the point of entry into the transport system (PIST) for propane and natural gas.  
348 Resolution No.  E 1325/2017 of the Ministry of Transport, Official Journal of 20 December 2017, 
rejects the request to extend the concession contract for the Urquiza line of the metropolitan rail passenger 
services; Resolution No.  E 1.339/2017 of the Ministry of Transport, Official Journal of 6 February 2018, rejects 
the request extend the concession contract for the Belgrano Norte line of the metropolitan rail passenger 
services; and Decree No.  423/2019, Official Journal of 19 June 2019, opens a national and international call for 
tenders for the concession to build, maintain and operate the Urquiza and Belgrano Norte lines.  WT/TPR/S/412 • Argentina  
 
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 of natural gas;349 and (d) concession contracts for the northern and western access roads to the 
Autonomous C ity of Buenos Aires.350 
3.277.   The State also intervenes to establish or agree with various trade associations the prices of 
other products, including: the retail price of some cuts of beef (for mass consumption);351 the 
producer price of tobacco;352 the price of some hydrocarbons;353 electricity tariffs;354 and the tariffs 
charged for the basic telephone service (SBT). The purpose of these price agreements is to promote 
consumption and reduce prices or limit price incre ases. In December 2019, an agreement was 
reached with associations of medicines manufacturers whereby an 8% price reduction was applied 
to all medicines and prices were frozen until 31 January 2020.355 The freeze was extended until 
31 October  2021. The Nati onal Programme for Household Consumption of Liquefied Petroleum Gas 
(LPG) in Containers, created by Decree No.  1.539/2008, establishes a below -market price for 10,  12 
and 16 kg containers.  The government uses resources from a trust fund to compensate 
LPG producers and fractionators. Furthermore, there are still price controls on the production of 
maté, as minimum prices are set by the National Maté Institute (INYM).356 
3.278.   Since 2014, Argentina has concluded price agreements with producers of goods mostly 
within  the basic consumer basket. These agreements between supermarkets, manufacturers and 
the government are part of the Precios Cuidados  (price control) programme. The list of controlled 
prices covers certain groceries, frozen foods, pasta, dairy produce, brea d products, cold meats, 
alcoholic and non -alcoholic beverages, certain cuts of meat, certain vegetables, lighting products, 
toiletries and cleaning products. At the start of 2021, there was a total of 685 products on the list 
of controlled retail prices. I t is estimated that the average reduction on the list was 8% compared 
to reference prices.357 There is also a list of controlled wholesale prices which, as of March 2021, 
contained 460  groups of items, as well as a list of controlled construction prices, wh ich had 117 
groups as of the same date. In 2020, a free mobile app was introduced allowing users to check 
 
349 National Executive Decree No.  250/2018, Officia l Journal of 28 March 2018, ratifies the 
memorandum of agreement for the adjustment of the licensing contract for the transport and distribution of 
natural gas signed by the Ministry of Energy and Mining (MEM), the Ministry of the Treasury and Public Finan ce 
and the company Transportadora de Gas del Sur S.A .; National Executive Decree No.  251/2018, Official 
Journal of 28 March 2018, ratifies the memorandum of agreement for the adjustment of the licensing contract 
for the transport of natural gas signed by M EM, the Ministry of the Treasury and Public Finance and 
Transportadora de Gas del Norte S.A. ; National Executive Decree No.  252/2018, Official Journal of 
28 March  2018, ratifies the memorandum of agreement for the adjustment of the licensing contract for t he 
transport of natural gas signed by MEM, the Ministry of the Treasury and Public Finance and Metrogas S.A.  
350 National Road Authority Resolution No.  E 83/2018, Official Journal of 17 January 2018, schedules 
public hearings to consider the new tariff regim e within the framework of the contract renegotiation 
agreements with the concessionaires Autopistas del Sol S.A.  and Grupo Concesionario del Oeste S.A. ; National 
Road Authority Resolutions No.  657/2018 and No. 658/2018, Official Journal of 13 April 2018, a pprove the final 
report of the public hearing regarding the northern and western access roads to the CABA, respectively; 
National Road Authority Resolution No.  2.642/2018, Official Journal of 28 December 2018, approves the tariff 
scales to be applied to th e concession contracts for the northern and western access roads to the CABA.  
351 Resolution No.  38/2008. Current prices for the most representative cuts of beef can be viewed at: 
https://www.argentina.gob.ar/produccion/acuerdo -de-precios -para-la-carne .  
352 To obtain information about the percentage scale of the price structure and the amounts per 
kilogram paid by the Special Tobacco Fund, see online information from the M AGyP. Viewed at: 
http://64.76.123.202/site/agricultura/tabaco/01=normativa/04 -precios/index.php .  
353 Resolutions No.  938/2006 and No. 959/2006.  
354 Law No.  24.065, Official Journal of 16 January 1992.  
355 Information viewed at: https://www.telam.com.ar/notas/201912/416859 -anunciaron -la-rebaja -
inmediata -del-8-en-todos -los-medicamentos.html . 
356 This price is set periodically. For example, INYM Resolution No.  238/2019 on the price of raw 
materials from October 2019 to March 2020 set the prices for this period. It can be viewed at: 
https://www.inym.org.ar/normativa/res -inym-238-2019-precio -de-la-materia -prima -octubre -2019-a-marzo -
2020/ . 
357 The list of controlled prices can be view ed at: https://www.argentina.gob.ar/precios -cuidados . In 
March 2021, the list of controlled retail prices included 685 groups of items, including sunflower oil, balsamic 
vinegar, conditioners, t able water, mineral water, cotton wool, rice, tuna, cocoa powder, coffee, onions, 
toothbrushes, beer, cream, deodorant, dulce de leche , some bovine meat cuts, noodles, sponges, some 
pork-based luncheon meat, custard, biscuits, carbonated water, gelatine, wheat flour, eggs, insecticides, soap, 
liquid soap, juices, bleach, dishwasher detergent, fresh and long -life milk, powdered milk, lettuce, cleaning 
products, lard, apples, maté, jam, oregano, bread, toilet paper, toothpaste, disposable diapers, chicken, 
desserts, hygienic products, sunscreen, potato purée, cheese, repellent, salt, sausages, serviettes, shampoo, 
softeners, vinegar, wine, maté, yogurt and pumpkins.  WT/TPR/S/412 • Argentina  
 
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  prices, determine which nearby supermarkets have controlled prices, find products and their price 
reference and report any irregularities.358 
3.3.5   State tra ding and public enterprises  
3.3.5.1   State trading  
3.279.   During the review period, Argentina notified the WTO that it had no state trading enterprises 
as defined in Article XVII of GATT 1994.359 
3.3.5.2   National public enterprises  
3.280.   Argentina has a number of national public enterpr ises in different areas of economic activity. 
Their structure and operation are governed by various laws, as well as the addenda, regulations and 
amendments thereto. These include State Companies Law No.  20.705 of 26 August 1974; 
General  Companies Law No.  19.550 of 25 April 1972; Law No.  24.156 , Official Journal  of 
29 October  1992 on the financial administration and control systems of the national public sector, 
which governs the budgetary regime of state enterprises and companies; Decree No.  1.344/2007 of 
5 October  2007, implementing the Law on the financial administration and con trol systems of the 
national public sector; and Decree No.  41/1999 of 3 February 1999 on the Public Service Code of 
Ethics.360 
3.281.   In Argentina, there are different types of public enterprises. The most common are state 
enterprises and limited companies in whic h the State has a majority holding. Article  8 (b) of 
Law No. 24.156 uses the term "state enterprises and companies" to refer to state enterprises, state 
companies, limited companies in which the State has a majority holding, semi -public companies and 
other  business organizations in which the State has a majority stake in the capital or in corporate 
decisions.361 Under Article 71 of Law No.  25.565, Official Journal of 21 March 2002, the name for 
these enterprises was changed to "public enterprises and entitie s not under national administration". 
A decentralized model is used to oversee the management and legality of national state -owned 
enterprises, whereby competences are shared between various administrative and ministerial bodies 
of the National Executive.  
3.282.   In March 2021, there was a total of 58 enterprises and companies in which the State holds 
a majority stake in the capital. Of these, 11 operated in the transport sector, 13 in financial services, 
10 in energy, 2 in production and industry, and the rest pro vided miscellaneous services 
(Table  3.40).  
 
358 The app can be downloaded at: https://www.argentina.gob.ar/aplicaciones/precios -cuidados . 
359 WTO documents G/STR/N/15/ARG of 17 September 2015, G/STR/N/16/ARG of 25 July 2017, 
G/STR/N/17/ARG of 10 August 2018 and G/STR/N/18/ARG of 30 September 2020.  
360 Other laws i nclude: Office of the Auditor -General Resolution No.  37/2006 of 23 May 2006, on the 
Minimum Rules on Internal Control for Good Corporate Governance of State Enterprises and Companies; 
Administrative Decision No.  85/2018 of 14 February 2018, on Guidelines f or Good Governance of Majority 
State -owned Enterprises; Law No.  25.188 of 1 November 1999, on ethics in public service; Decree 
No. 196/2015 of 12 February 2015, on the division of the responsibilities of directors, trustees, consultants and 
public official s appointed or nominated by the State or its entities; Labour Law No.  20.744 of 
27 September  1974; Law No.  18.753 of 24 August 1970, establishing the technical advisory committee on 
wage policy; Article 5 of Decree No.  856/1998 of 27 July 1998, on ex ante intervention by the National 
Information Technology Office; and "Buy Argentine" and Supplier Development Law No.  27.437 of 
10 May 2018.  
361 According to the authorities, the applicable legal framework varies depending on the type of 
company.  For example,  according  to the Opinion  of the Attorney  General  of the Nation  of 24 April 2017,  the 
legal framework  applicable  to state-owned  stock companies  must be integrated  with the provisions  of the 
General  Companies  Law (private  law) and the general  principles  of private law. However,  constitutional  
principles  should  be applied  since they cover  all State  activities.  Administrative  law rules are applicable  only 
where  this is expressly  provided  for. WT/TPR/S/412 • Argentina  
 
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 Table 3.40 Enterprises and companies in which the State holds a majority stake in the 
capital  
Enterprises  Law/Instrument, Official Journal date/law 
date Category  %a 
Administración de Infraestructura 
Ferroviaria S.E.  Law No.  26.352 (Decree No.  752/2008), 27/03/2008  Transport  100 
Administración General de Puertos 
S.E. (AGP)  Decree No.  1456/87, 17/09/1987 (in line with Law 
No. 20.705)  Transport  100 
Aerolíneas Argentinas S.A.b Law No.  26.466, 24/12/2008  Transport  99.41  
Aerohandling S.A.b Law No.  26.466, 24/12/2008  Transport  100 
Jet Paq S.A.b  Law No.  26.466, 24/12/2008  Transport  100 
Optar S.A.b  Law No.  26.466, 24/12/2008  Transport  100 
Agua and Saneamientos Argentinos 
S.A. Decree No.  304/2006, 22/03/2006, ratified by Law 
No. 26.100, 07/06/2006  Services  90 
Investment and Foreign Trade Bank 
(BICE)  Decree No.  2703/1991, 06/01/1992  Finance  99 
National Bank of the Argentina (BNA)  Charter Law No. 2.841, 15/10/1891 (Law 21.799)  Finance  100 
Banco Hipotecario S.A. (BHSA).  Law No.  1.804, 14/09/1886, and No. 24.855, 
25/07/1978  Finance  54.24  
Belgrano Cargas y Logística S.A.  Decree No.  566/2013, 04/06/2013  Transport  100 
Centro de Ensayos de Alta Tecnología 
S.A. (CEATSA)  Articles of association, 22/10/2010  Technology  90 
Construcción de Viviendas para la 
Armada (COVIARA)  National Executive Decree No. 2042/1966, 
20/09/1966.  Defence  100 
Contenidos Públicos S.E. (CPSE)  Decree No. 1.222/2016, 05/12/2016  Communication  100 
Corredores Viales S.A.  Decree No.  794/2017, 04/12/2017  Construction  100 
Correo Oficial de la República 
Argentina S.A. (CORASA)  Necessity and Urgency Decree (DNU) No.  721/2004, 
14/06/2004  Services  100 
Desarrollo de Capital Humano 
Ferroviario SAPEM (DeCaHF)  Decree No.  1.774/93, 08/09/1993  Transport  99 
DIOXITEK SA  Decree No.  1286/1996, 14/11/1996  Energy  99 
Directorate -General of Military 
Industry (DGFM)  Law No.  12.709, 24/10/1941, Decree No.  104/2019, 
31/01/2019.  Defence  100 
Educar S.E.  Decree No.  383/2000, 12/05/2000  Education  100 
Emprendimientos Energéticos 
Binacionales S.A. - EBISA  Decree No.  616/1997, 14/07/1997  Energy  100 
Empresa Argentina de Navegación 
Aérea S.E. (EANA S.E.)  Law No. 27.161, 15/07/2015  Transport  100 
Empresa Argentina de Soluciones 
Satelitales S.A. (ARSAT S.A.)  Law No.  26.092, 27/04/2006  Services  90 
ENARSA Patagonia S.A.  Articles of association, 08/11/2011  Energy  90 
ENARSA Servicios S.A.  Articles of association, 03/08/2006  Energy  98 
Fábrica Argentina de Aviones Brig. San 
Martín S.A. (FADEA SA.)  Law No.  26.501 and its promulgating Decree 
No. 1.125/2009, 27/08/2009  Production  99 
Ferrocarriles Argentinos S.E. (FASE)  Law No.  27.132 (Decree No.  1.924/201 5), 16/09/2015  Transport  100 
Innovaciones Tecnológicas 
Agropecuarias (INTEA) S.A.  National Agricultural Technology Institute (INTA) 
Resolution No.  115/1993, 01/01/1993  Production  97.50  
Integración Energética Argentina S.A. 
(IEASA) (formerly ENARSA)  Law No.  25.943, promulgated by Decree No.  1529/04, 
03/11/2004  Energy  98.05  
Intercargo SAC  Decree No.  1.188/1994, 21/07/1994  Transport  100 
LT 10 Radio Universidad Nacional del 
Litoral S.A.  Registered in the Public Trade Register, 06/01/1978  Education  93.65  
Nación Bursátil S.A.  Articles of association, 13/02/1996  Finance  99.42  
Nación Reaseguros S.A.  Articles of association, 15/05/2012  Finance  95 
Nación Seguros de Retiro S.A.  Articles of association, 04/08/1994  Finance  99.30  
Nación Seguros S.A.  Articles of association, 06/06/1994  Finance  99.30  
Nación Servicios S.A.  Articles of association, 29/03/2006  Finance  95 
Nucleoeléctrica Argentina S.A. (NASA)  Decree No.  1.540/94, 02/09/1994, and Secretariat of 
Energy Resolution No. 283/94.  Energy  100 
Nuevos Aires del Sur S.A.  Decree No.  1.722/2012, 21/09/2012; Decree No.  153, 
10/03/2017; and Decree No.  479, 11/07/2019.  Real estate  90 
Operadora Ferroviaria S .E. (SOFSE)  Law No.  26.352, 27/03/2008 (Decree No.  874/2012)  Transport  100 
Pellegrini S.A.  Articles of association, 03/11/1994  Finance  99 
Playas Ferroviarias de Buenos Aires  Decree No.  1723/2012, 21/09/2012  Real estate  90 
Polo Tecnológico Constituyentes S.A.  Decree No.  894/1998, 06/08/1998  Technology  100 
Radio y Televisión Argentina S.E.  Law No.  26.522, 10/10/2009  Communication  100 
S.E. Casa de Moneda (SECAM)  Law No. 21.622, 19/08/1977  Services  100 
Servicios de Radio y Televisión de la 
Universidad Nacional de Córdoba  Decree Law No.  5753/58, 23/04/1958  Communication  99.41  
Talleres Navales Dársena Norte 
SACIyN. (TANDANOR SACIyN)  Law No. 18.544, 17/02/1970  Production  90 
TELAM SE  Decree No.  2,507/2002 , 06/12/2002  Communication  100 
VENG S.A  Public Deed No. 97, 19/10/1998  Industry  97.02  
YPF GAS  Merger of Repsol Gas S.A and YPF GAS SA, 
06/12/2001  Energy  50.99  
YPF SA  Law No. 26.741, 07/05/2012  Energy  51.03  
A.T.C. S.A. (e.l.)  Law No.  21.377, 12/08/1976, Decree No.  544/92  Communication  100 
BICE Fideicomisos  Deed No. 44, 03/03/2016  Finance  94.46  WT/TPR/S/412 • Argentina  
 
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  Enterprises  Law/Instrument, Official Journal date/law 
date Category  %a 
BICE Factoring  Deed No. 813, 13/12/2017  Finance  99 
BICE Leasing  Deed No. 69, 04/07/2002  Finance  99 
Yacimientos Mineros de Agua de 
Dionisio  Law No. 14.771, 16/10/1958  Energy  c 
a Percentage State share . 
b Declared to be of public interest . 
c Secretariat of Energy (33 .3%), Government of Catamarca (33 .3%) and Universidad Nacional de 
Tucumán (33 .3%). 
Source:  Information provided by the authorities.  
3.283.   Since 2007 the State has held minority stakes in private limited companies through the 
Sustainability Guarantee Fund (FGS) of the Argentine integrated social security scheme (Table 3.41), 
created by Decree No.  897 of 13 July 2007. The purp ose of the FGS is to preserve the value of assets 
by seeking to make returns on its resources, which can be used to pay benefits under the Argentine 
integrated social security scheme. At the end of the fourth quarter of 2020, the FGS' investment 
portfolio was worth ARS 3.5 trillion (USD 41.6 billion).362 
Table 3.41 State participation in private companies through the Sustainability Guarantee 
Fund  
Enterprise  FGS 
participation 
(%) Sector  Enterprise  FGS 
participation 
(%) Sector  
Banco Macro S.A.  28.80  Banking  Aluar Aluminio Argentino 
S.A.I.C.  9.35 Aluminium  
S.A. San Miguel  26.06  Citrus  Grupo Clarín S.A.  9.00 Publishing  
Naturgy BAN S.A.  26.63  Energy  Metrovías S.A.  8.55 Transport  
Consultatio S.A.  24.88  Real estate  Metrogás S.A.  8.61 Energy  
Edenor  26.8 Energy  BBVA Banco Francés S.A.  6.90 Banking  
Distribuidora de Gas 
Cuyana  26.12  Energy  Banco Hipotecario 
Nacional S.A.  5.22 Banking  
Telecom Argentina 
S.A. 11.42  Telecommunications  Transportadora de Gas del 
Sur S.A.  24.00  Energy  
Pampa Energía  21.09  Energy  IRSA Inversiones y 
Representaciones S.A.  4.48 Real estate  
Grupo Concesionario 
del Oeste  21.56  Transport  Central Puerto S.A.  1.85 Energy  
Mirgor S.A.  21.54  Consumer goods  Cresud S.A.  3.86 Agriculture  
Emdersa S.A.  20.96  Energy  Transportadora de Gas del 
Norte S.A.  0.73 Energy  
Grupo Financiero 
Galicia S.A.  18.52  Finance  Ledesma S.A.  0.38 Sugar  
La Patagonia S.A.  20.24  Food  Y.P.F. S.A.  0.01 Energy  
Molinos Río de la Plata  20.04  Food Edesa Holding S.A.  20.96  Energy  
Transener  19.57  Energy  Edesal Holding S.A.  20.96  Energy  
Cablevisión Holding  9.0  Telecommunications  Grupo Supervielle S.A.  0.70 Finance  
Camuzzi Gas 
Pampeana S.A.  12.65  Energy  Inversora Eléctrica de 
Buenos Aires S.A.  2.10 Energy  
Banco Patagonia S.A.  15.29  Banking  IRSA Propiedades 
Comerciales S.A.  1.61 Real estate  
Sociedad Comercial 
del Plata S.A.  1.0 Energy, construction  Holcim (Argentina) S.A.  11.30  Cement  
Enel Generación 
Endesa Costanera S.A.  15.39  Energy  Molinos Agro S.A.  20.04  Food 
Capex S.A.  10.73  Energy  Ternium Argentina S.A.  26.03  Steel 
Source:  Information from the FGS, Inversiones:  Participación en Empresas Privadas.  Viewed at: 
http://fgs.anses.gob.ar/participacion  
3.284.   State enterprises enjoy general, but not any specific, tax incentives.  
 
362 National  Social Security Administration (ANSES) (2020), Fondo de Garan tía de Sustentabilidad del 
Sistema Integrado Previsional Argentino. Informe Estadístico Trimestral, Cuarto trimestre 2020 . Viewed at: 
http://fgs.anses.gob.ar/archivos/secci ones/FGS%20 -%20IV.TRIM.20.pdf .  WT/TPR/S/412 • Argentina  
 
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 3.3.6   Government procurement  
3.3.6.1   Main features  
3.285.   Although Argentina is not party to the WTO Plurilateral Ag reement on Government 
Procurement, it has had observer status since 24 February 1997.363 
3.286.   The Argentine procurement system is organized based on a centralized approach to policies 
and rules, and a decentralized approach to operational management.364 The entity responsible for 
establishing the policies, rules and procedures of the procurement regime of the 
Argentine  Government is the National Procurement Office (ONC), which oversees the national 
government procurement system. The ONC's functions inclu de proposing policies for procurement 
and organizing the system; drafting laws and regulations; issuing explanatory, interpretative and 
supplementary regulations; preparing basic specifications and conditions of procurement; designing 
and implementing an i nformation system; overseeing and evaluating the design and operation of 
the procurement system; and applying the penalties provided for by law. Procurement units operate 
in every jurisdiction and public entity and are responsible for handling procurement procedures.  
3.287.   Use of the national government procurement system is mandatory for the central 
government, the decentralized agencies, the national universities and the armed forces and security 
services. The system does not cover the provinces, the CABA, the municipalities, the National 
Institute of Social Services for Retirees and Pensioners (INSSJP - PAMI) and the AFIP, State 
enterprises and companies, trust funds with State participation, financial institutions in the national 
public sector or multilateral credit agencies. However, these entities may apply the system and 
participate in its procedures on a voluntary basis.  
3.288.   The ONC also develops computer systems for use in electronic purchasing procedures and 
provides support for the procurement units of the v arious bodies. The ONC compiles statistics and 
information on government procurement, which it publishes on the Internet. While the operational 
units of the respective national government entities are responsible for managing procurement, the 
ONC is tasked  with framing the policy that they should follow. Furthermore, State entities are 
required to transmit all the information obtained from the procurement procedures they carry out 
to the ONC, using electronic media.  
3.289.   To obtain a government contract it is nec essary to be listed in the supplier information 
system (SIPRO), which the various State entities are required to consult before awarding 
contracts.365 SIPRO is a register of all suppliers of goods and services wishing to enter into contracts 
with the nation al government . 
3.290.   The contracts covered by the government procurement system include: (a) buying or selling, 
supplies, services, consultancy, leases with and without an option to buy, barter arrangements, 
concessions for use of assets under the public or priv ate ownership of the State concluded with 
jurisdictions and entities falling within the system's scope and all contracts not expressly excluded; 
and (b) public works and concessions of public works, public services and licences. Public 
employment and petty  cash purchases are excluded from the government procurement system. In 
general, the procurement process involves preparing annual purchase plans based on the budgets 
allocated to each agency by the competent ministry or secretariat.  
3.291.   All invitations to ten der for contracts, draft bidding documents for procurement that the 
competent authority makes publicly available, the basic specifications and conditions, the record of 
opening of tenders, the comparison table, the evaluation ruling, contract awards and pu rchase orders 
must be made available on the Internet regardless of the selection procedure used. In this 
connection, the ONC maintains the COMPR.AR  electronic procurement system, authorized by ONC 
Order No. 65/2016 as an electronic means of carrying out al l selection procedures and provided for 
 
363 Information from the WTO. Viewed at: 
https://www.wto.org/english/tratop_e/gproc_e/memobs_e.htm . 
364 Article 12 of Decree No. 666/2003, Official Journa l of 25 March 2003. Viewed at: 
http://servicios.infoleg.gob.ar/infolegInternet/verNorma.do?id=83491 . 
365 For further details concerning the registration process, see online information from SIPRO at: 
http://www.argentina.gob.ar/tram ites/353 -inscripci%C3%B3n -en-el-sistema -de-informaci%C3%B3n -de-
proveedores -del-estado.php . WT/TPR/S/412 • Argentina  
 
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  in the Regulation on the Procurement Regime of the Argentine National Government, approved by 
Decree No.  1.030/2016. The COMPR.AR system was implemented gradually across the various 
jurisdictions and entities of the national government , according to the ONC's schedule. ONC Order 
No. 17/2019 of 31 May 2019 set up the COMPR.AR system as an electronic means of implementing 
and terminating contracts concluded in line with the procedures under the Regulation on the 
Procure ment Regime of the Argentine National Government.366 COMPR.AR  provides institutional 
information on regulations and agreements, up -to-date statistics and information about the supplier 
system, procurement agencies, reference prices, current and past contracts and investment plans. 
It also maintains a catalogue of go ods and services.367 
3.292.   The Electronic Portal for the Procurement of Public Works, CONTRAT.AR, implemented by 
Decree No.  1.336/2016, is used for the electronic procurement of public works.368 In February  2021, 
a new regulation on the functioning of the national  register of public works constructors and 
consulting firms was introduced by ONC Order No.  3/2021 to facilitate electronic procurement.  
3.293.   A framework procurement agreement may also be used. This is a means of electronic 
procurement whereby one or more provi ders are selected to supply goods and services directly to 
government agencies with the form, within the time frame and in accordance with the other 
conditions set out in the agreement. The ONC is the entity responsible for creating these framework 
agreeme nts, either ex officio  or at the request of one or more bodies, by setting up public tenders 
with framework agreements. They appear in an electronic catalogue containing a description of the 
goods and services on offer, the unit price and the amount availa ble for each provider and item in 
the catalogue. The various government agencies thus purchase directly the goods and services 
available under these agreements. Where there is a valid framework agreement in place, the 
procurement units are required to use it for procurement.369 
3.3.6.2   Legal framework  
3.294.   The current procurement regime of the Argentine National Government was established by 
Decree No.  1.023/2001 (as amended and updated) and is regulated by Decree No.  1.030/2016 and 
amendments thereto. Law No.  25.551 of 28 November  2001 (Buy Argentine Labour) and its 
implementing regulation, Decree No.  1.600/2002, established a system of preferences for goods of 
domestic origin (Table 3.42).  
Table 3.42 Main laws and regulatio ns in the area of government procurement  
Standard  Content  
Legislation regulating goods and services   
Main legislation   
Delegated Decree No.  1023/2001 and amendments thereto  Procurement Regime of the Argentine National 
Government  
Decree No.  1030/2016 and amendments thereto, and Decrees 
No. 641/2018  
http://servicios.infoleg.gob.ar/infolegInternet/anexos/310000 -
314999/312245/norma.ht m,  
No. 963/2018, No. 336/2019 and No. 356/2019  Regulation on the Procurement Regime of the Argentine 
National Government  
Supplementary legislation   
ONC Order No.  62/2016 and amendments thereto, and ONC 
Orders No. 47/2017, No. 5/2018, No. 6/2018, No. 35 /2018, 
No. 49/2018, No. 58/2018 and No. 18/2019  Approving the Procedural Manual for the Procurement 
Regime of the Argentine National Government  
 
366 In its General Communication No.  138/2019, the ONC announced that, from 11 November 2019, the 
ONC website referred to in the Regulation approved by Decree No.  1030/2016 and its supplementary rules 
would be https://comprar.gob.ar . The website was merged with that of the COMPR.AR electronic national 
government procurement system. Thereafter, the various stages of the selection p rocedure are managed via 
COMPR.AR or by any other means published at https://comprar.gob.ar . 
367 The annual procurement plan, corrections thereto resulting from adjustments to the budgetary 
appropriation and the alloca tion of the budget share, or due to other reasons, and the implementation schedule 
must be uploaded using the Web form supplied on the COMPR.AR electronic national government procurement 
system. The data are published on the system's website following appr oval by the competent authority. Every 
year, the ONC announces on COMPR.AR the deadline by which the jurisdictions and entities must publish the 
annual procurement plan, the corrections thereto and the implementation schedule.  
368 For more information, see: https://contratar.gob.ar/ . 
369 ONC, Framework Agreement. Viewed at: https://www.argentina.gob .ar/comprar/soy -
proveedor/compras -electronicas/preguntas -frecuentes/acuerdo -marco .  WT/TPR/S/412 • Argentina  
 
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 Standard  Content  
ONC Order No.  63/2016 and amendments thereto, and ONC 
Orders No.  6/2018 and No. 5/2019  Approving the basic specifications and conditions for the 
Procurement Regime of the Argentine National 
Government  
ONC Order No.  64/2016 and amendments thereto, and ONC 
Order No.  6/2018  Approving the Procedural Manual for Incorporating and 
Updating Data in SIPRO  
ONC Or der No.  2/2019  Approving the basic specifications and special conditions 
for the sale of vehicles at auction  
ONC Order No.  93/20 20 Regulation on participation in meetings of the governance 
programme for the public works procurement system  
ONC Order No. 16/2019  Regulation on the functioning of the National Register of 
Public Works Constructors and Consulting Firms  
Order No.  19/2019  Time limit extension  
Legislation implementing COMPR.AR  
ONC Order No.  65/2016  Authorizing the Electronic Procurement System of the 
Argentine National Government  
ONC Order No.  17/2019  Authorizing use of the Electronic Procurement System of 
the Argentine National Government for entering into and 
terminating contracts  
Legislation regulating public works   
Main legislation   
Law No.  13.064 on public works  Public works  
Decree No. 19.324/1949  Explaining the concepts and terminology of 
Law No. 13.064.  
Law No.  14.000  Securing compliance with public works contracts using 
national, provincial and municipal bonds and securities  
Law No.  17.804  Establishing fidelity insurance as security in public works 
contracts  
Implementing Decree No.  1.186/1994  Contractual time limits for public works  
Resolution No. 814/1996  Public works. Updating amounts  
Decree No. 1.023/2001  Government procurement system  
Decree No. 1.169/2018  National Procurement Office regime  
ONC Order No.  22/2019  Basic specifications and general conditions for the 
procurement of public works  
ONC Orders No.  97/2019 and No. 113/2019  Changes to the basic specifications and general conditions  
Law No.  17.520  Public Works Concessions Regime  
Implementing Decree No.  1.186/1984  Contractual time limits for public works  
Law No.  23.696  State reform  
Implementing Decree No.  1.023/2001  General government procurement regime for electronics, 
goods and services and public works  
ONC Order No.  3/2021  Regulation on the Functioning of the National Register of 
Public Works Constructors and Consulting Firms  
Supplementary legislation   
Decree No. 691/16  Price redetermination regime  
Joint Resolution No.  1/2017  Regulations clarifying and supplementing Decree 
No. 691/2016  
Necessity and Urgency Decree No.  299/2000  Infrastructure. Promotion of private participation  
Decree No. 966/2005  National Private Initiative Regime. Approval of the regime 
and creation of an evaluation and development 
commission  
Necessity and Urgency Decree No.  691/2016  Approving the price redetermination regime  
Legislation implementing CONTRAT.AR  
Decree No. 1.336/2016  Implementing the "CONTRAT.AR" electronic management 
system  
Resolution No. E 9/2017  Making the CONTRAT.AR system compulsory  
Ministry of Modernization (MM) Resolution No.  197/2017  Approving the policies, terms and conditions of use of the 
CONTRAT.AR electronic management system  
Resolutions No. E 198/2017, No. E 314/2017, No.  E 315/2017 
and No. E 115/2018  Making the use of the electronic management system 
mandatory for public works and services procurement and 
concessions  
Source:  Information provided by the authorities.  
3.295.   Under Delegated Decree No.  1023/2001 and amendments thereto, the purpose of the 
procurement regime of the Argentine National Government is to obtain goods and services with the 
optimum technology, in good time and at the lowest possible cost, and to sell goods to the highest 
bidder. The regime is mandatory for all procurement procedures by the entities covered. 
Procurements must  abide by the following general principles: (a) reasonableness of the project and 
procurement efficiency; (b) promotion of competition between the interested parties and competition 
between bidders; (c) transparency in procedures; (d) publicity and dissemi nation of procedures; 
(e) responsibility of the public officials and agents authorizing, approving or managing procurement; 
and (f) equal treatment for interested parties and bidders.  
3.296.   Contracts are to be awarded to the bid that is most advantageous for the  contracting agency 
in terms of price, quality, bidder suitability and other conditions of the bid. When purchasing goods 
or procuring a standardized or commonly used service whose technical features can be unequivocally WT/TPR/S/412 • Argentina  
 
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  specified and identified, the lowes t bid is considered to be the most advantageous. The procurement 
regime authorizes the granting of preferences and gives the contracting authorities the prerogative 
to interpret the contracts; amend them for reasons of public interest; withdraw, rescind or  terminate 
them; and increase or decrease the total amount of the contract by up to 20% under the conditions 
and at the prices agreed, adjusting the time frames accordingly. National government entities and 
state enterprises and companies should send the draft basic specifications and special conditions of 
the selection procedures for the purchase, rental or lease of goods for an estimated amount equal 
to or greater than 80,000 units, together with a report on feasibility of participation in national 
produc tion, to the implementing authority for approval .370 
3.297.   Table 3.43 sets out existing procurement methods and specifies when each is used (including 
thresholds and type of procurement) pursuant to Decree No. 1030/2016 . Within each method and 
type of procurement, various forms can be chosen, including private initiatives, turnkey contracts, 
open purchase orders, consolidated procurement, setting of a maximum pri ce, procurement through 
framework agreements and competitions for complete projects.  
Table 3.43 Methods, types and forms of public procurement, 2021  
Method/Type/Form  Description  
Procurement methods   
Open tender or call for proposals  
Where the invitation to participate is addressed to an indeterminate number of bidders.  
 Open tender   
- Used when the co -contractor's selection criteria are based mainly on economic factors  
 Open call for proposals   
- Used when the co -contractor's selection criteria are based mainly on non -economic factors, such as 
technical and scientific, artistic or other such capabilities  
Public auction   
Where the invitation to participate is addressed to an indeterminate number of bidders and the contract is 
awarded at an in -person or online event where participants are invited to make bids.  
Selective tender or call 
for proposals   
Where the invitation to participate is addressed exclusively to suppliers listed in the ONC database and the 
estimated amount of the contract does not exceed the equivalent of 5,000 units (currently ARS 15 million).  
Direct contracting  Selection by direct contracting is used in the following cases:  
1. Where the estimated amount of the contract does not e xceed the equivalent of 1,000 units (ARS 3 
million).  
2. Where scientific, technical or artistic works must be performed by or purchased from companies, artists 
or specialists that are the only ones able to carry out such works.  
3. Procurement of goods and services over which the owner has exclusive sales rights or which are owned 
by a specific natural or legal person, provided that there are no suitable substitutes.  
4. Where a tender or call for proposals is declared void or has failed and a seco nd invitation must be issued, 
with changes in the basic specifications and special conditions. If the second invitation is declared void or 
has failed, direct contracting may be used.  
5. Where for reasons of urgency or emergency, based on objective circum stances, it is not possible to make 
timely use of another selection procedure.  
6. Where the National Executive has declared the contractual transaction secret for reasons of national 
security or defence, an exceptional power that cannot be delegated.  
7. Where machinery, vehicles, equipment or engines have to be dismantled, moved or pre -inspected and 
the adoption of another procurement procedure would prove more expensive.  
8. Contracts entered into by jurisdictions and entities of the national governme nt, either among themselves 
or with the provincial or municipal bodies or the CABA government, or with enterprises and companies in 
which the State has a majority stake, provided that they are for the supply of security, logistics or health 
services. Subco ntracting is prohibited in such cases.  
9. Contracts entered into by jurisdictions and entities of the national g overnment with national universities.  
10. Contracts entered into with natural or legal persons listed in the National Register of Local Develo pment 
and Social Economy Agents, whether or not they receive State funding.  
11. Real estate leases where national government jurisdictions and entities and the decentralized agencies 
are the lessees.  
Types of open or selective tender procedures or calls for proposals  
(a) Single stage or multistage  
- Single stage   
Where the bids and the quality of the bidders are compared in a single step.  
- Multistage   
 
370 Article 8 of Law No. 27.437 of 18 April 2018. Article 13 of the Law sets the value of one unit at ARS 
1,000. Its value was changed to ARS 3,000 under Article 8 of Secreta riat of Industry Resolution No.  185/2019, 
Official Journal of 27 September 2019.  WT/TPR/S/412 • Argentina  
 
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 Method/Type/Form  Description  
If justified by the specific characteristics of the contract, such as the high degree of complexity or the length 
of the term, the tender procedure or call for proposals is carried out in two or more stages.  
(b) National or international  
- National   
The invitation is addressed to bidders domiciled in Argentina or whose principal place of business or branch 
is located in the country.  
- International   
Where, owing to the nature of the subject matter or the complexity of the service, the invitation is extended 
to interested parties and bidders abroad.  
Forms of procurement  
(a) Private init iative   
Where a novel proposal or one that involves a technological or scientific innovation is submitted and 
declared of public interest by the national go vernment entity competent in the field.  
(b) Turnkey   
Where it is deemed suitable for public purposes to give a single supplier responsibility to complete an entire 
project.  
(c) Open purchase order   
Where the number of units or delivery dates or deadlines of goods or services to be purchased or procured 
cannot be predetermined with sufficient pr ecision in the basic specifications and special conditions.  
(d) Consolidated   
Where two or more contracting jurisdictions or entities require the same service and jointly manage the 
selection procedure in order to obtain better conditions than each would  otherwise receive individually.  
(e) Maximum price   
Where the highest price that can be paid for the required goods and services is indicated in the basic 
specifications and special conditions.  
(f) Framework agreement   
Where the ONC, ex officio  or at the request of one or more bodies, selects providers to supply goods or 
services directly to the contracting jurisdictions or entities. If there is a valid framework agreement in place, 
it must be used for procurement.  
(g) Competitions for complete  projects  
Where the contracting jurisdiction or entity cannot set out in detail the specifications of the contract in the 
basic specifications and special conditions.  
Source:  Information provided by the authorities.  
3.298.   As a general rule, contracts are awarded through tenders or calls for proposals. Tendering 
may be open or selective and may be carried out through public auction or direct contracting 
(Article  25 of Decree No.  1.023/2001). In the case of a selective tender or call for proposals the 
invita tion to participate is sent exclusively to suppliers that are registered in the ONC database; 
however, bids from persons that have not been invited to participate are also considered.  
3.299.   Open and selective tenders and calls for proposals may be single stage o r multistage, and 
national or international. A tender procedure or call for proposals is single stage if the bids and the 
quality of the bidders are compared in a single step. If justified by the specific characteristics of the 
required contract, such as t he high degree of complexity of the subject matter or the length of the 
term, the open or selective tender procedure or call for proposals should be organized on a 
multistage basis. In this case, the tender or call for proposals will have two or more stage s in order 
to assess and compare the quality of the bidders, their technical and business background, economic 
and financial capacity, security and nature of the service, and to analyse the economic components 
of the bids through successive preselection st ages. National invitations to tender and calls for 
proposals are restricted to bidders domiciled in Argentina or whose principal place of business is 
located in the country, or that have a branch duly registered in the country. International invitations 
to tender and calls for proposals are also open to those who have their principal place of business 
abroad and do not have a branch registered in Argentina.  
3.300.   Direct contracting may be subject to summary approval where there is more than one 
potential bidder w ith capacity to perform the service and procurement is urgent. The contract may 
be awarded by simple adjudication where a specific person or company alone is eligible, whether for 
reasons associated with the subject matter of the contract or for legal reas ons. This applies, for 
example, where scientific, technical or artistic works are carried out or purchased whose execution 
can be entrusted only to one company, artist or specialist, or to the repair of machinery, vehicles, 
equipment or engines where trans porting them would be expensive. Similarly, contracts entered 
into by jurisdictions and entities of the national government , either among themselves or with the 
provincial or municipal bodies or the CABA government, or with enterprises and companies in whi ch WT/TPR/S/412 • Argentina  
 
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  the State has a majority stake, provided that they are for the supply of security, logistics or health 
services, may be awarded through direct and simple adjudication.  
3.301.   According to information from the COMPR.AR system (tendering processes through the 
system only), in 2020 the most used procedure was open tendering (51.1 of the total), followed by 
direct contracting (38.8%) and selective tendering (10.2%) (Table 3.44). The upward trend in the 
use of the public tender method and the downward trend in the u se of direct contracting are clearly 
noticeable over the period. Public tenders went from 22.3% of contracts awarded in 2016 to 51.1% 
in 2020, whereas the use of direct contracting fell from 62.5% of the total in 2016 to 38.8% in 2020.  
Table 3.44 Government procurement statistics, 2016 -2020, in millions of ARS and as a %  
 2016  % 
Total  2017  % 
Total  2018  % 
Total  2019  % 
Total  2020  % 
Total  
Number of 
contracts  142  4,692   13,204   14,408   15,869   
Amount (ARS)  611.2  100.0  14,345.5  100.0  34,490.9  100.0  37,907.2  100.0  149,293.6  100.0  
Method             
Open tender  136.3  22.3 4,442.1  31.0 15,814.4  45.8 19,463.8  51.3 74,831.9  50.12  
Selective tender  20.2 3.3 524.7  3.7 1,900.3  5.5 2,086.8  5.5 15,259.0  10.22  
Direct contracting  382.0  62.5 8,838.7  61.6 16,381.2  47.5 15,573.6  41.1 57,939.0  38.81  
Open call for 
proposals  44.4 7.3 480.3  3.3 340.1  1.0 759.7  2.0 1,197.5  0.8 
Selective call for 
proposals  28.3 4.6 59.7 0.6 54.9 0.2 23.2 0.2 66.2 0.04 
Note:  No data is available for the period 2013 -15 and the data for 2016 are incomplete.  
Source:  COMPR.AR electronic system and information provided by the authorities.  
3.302.   During the review period, regimes such as "Buy Argentine Labour" continued to be part of 
Argentina's public procurement policy in order to use the purchasing power of the State as a means 
of promoting and protecting domestic industry, with special emphasis on small and medium -sized 
enterprises (SMEs). There are also "Buy Provincial" an d "Buy Municipal" programmes. In 2018, the 
Buy Argentine Labour regime was replaced by the Buy Argentine and Supplier Development regime.  
3.303.   The Buy Argentine Labour regime, established in 2001371 and in force until 2018, required 
the government, its agencies,  departments and self -governing and decentralized entities, State 
enterprises, public service concession holders and their direct subcontractors, to use preferential 
margins in their purchases and procurements for buying and leasing goods of domestic origi n and 
contracting for works and services with local suppliers. Where the purchase of goods is concerned, 
suppliers of goods of domestic origin received a preference of 7% on their contracts if the bid was 
made by an SME, or 5% if the bid came from another kind of enterprise.  
3.304.   In 2018, this regime was replaced by the "Buy Argentine" and Supplier Development Law.372 
This Law regulates the new system of preferences for purchases by state entities and requires the 
national government (central government and decen tralized agencies, including the social security 
institutions), state enterprises and companies, public entities ( state non -business organizations in 
which the national government has a majority control over the assets or decision -making) and trust 
funds f ully or mostly comprised of state assets and/or funds, to apply the system.  In addition to the 
entities referred to above, natural or legal persons granted licences, concessions, permits or 
authorizations to supply public goods and services by the national government ; direct contractors 
of such persons373; the legislature, the nati onal judiciary and the Public Prosecutor's Office; and the 
Wholesale Electricity Market Management Company (CAMMESA) are required to give preference to 
goods of domestic origin when purchasing, renting or leasing.  
3.305.   Preferences for goods of domestic origin w ill apply to all procurement contracts with a value 
exceeding the direct contracting threshold of 1,000 units. The margin of preference for goods of 
domestic origin is 15% for MSMEs and cooperatives listed in the National Institute of Partnerships 
and Soci al Economy (INAES) of the Ministry of Social Development, and 8% for other enterprises 
providing identical or similar services under cash payment terms.  If the bids are all from companies 
 
371 Created by Law No.  25.551 and regulated by Decree No.  1.600/2002 of 28 August 2002.  
372 Law No. 27.437 of 18 April 2018, Official Journal of 10 May 2018.  
373 Preference should be given only in the context of licences, concessions, permits and authorizations to 
provide public works and services in which they are direct contractors.  WT/TPR/S/412 • Argentina  
 
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 of foreign origin, a margin of preference of 1% will be granted for every five percentage -point share 
of the gross production value of the covered goods is locally integrated, up to a maximum margin 
of preference of 8%. In all cases and for the purposes of comparison, the price of the goods of 
foreign origin should include  current import duties and all taxes and charges required for the goods 
to be imported by a private importer without any special benefits. In the case of procurement under 
the direct contracting threshold, application of the preference is optional. Any dec ision to apply the 
margin of preference should be recorded in the respective basic specifications and special conditions 
of the selection procedure. Where it is not applied, goods of national origin will be given preference 
only if prices are equal.  
3.306.   In the  case of procurement by entities of the national government for the provision, rental 
or lease of goods worth up to 20,000 units, MSMEs that were unable to reach the best price offered 
after applying the 15% margin of preference may improve their bid if th eir original price does not 
exceed the best quote by more than 20% in cash terms. Furthermore, these entities and the 
Legislature, the Judiciary and the Public Prosecutor's Office should award their contracts for the 
purchase, rental or lease of goods for less than 1,300 units, and for the construction of public 
buildings and homes for less than 100,000 units, to local MSMEs offering goods or works of domestic 
origin. In both cases, the price of the winning bid must not exceed the estimated amount of the 
contract by more than 20%.374 Failure to meet the obligations regarding the allocation of preferences 
under the Buy Argentine and Supplier Development Law is punishable by a fine of between 5% and 
50% of the contract amount and a ban from future contracts, co ncessions, permits or licences for 
between 3 and 10 years, depending on the seriousness of the case.  
3.307.   Provisions of Argentine legislation require the signing of production cooperation agreements, 
which constitute a commitment on the part of the winning bidd er to use local goods and services 
associated with the contract awarded. These agreements should encourage participation of 
enterprises considered to be MSMEs under Law No.  27.264. The requirement applies to contracts for 
the purchase, rental or lease of g oods not produced in the country, with a value equal to or greater 
than 240,000 units, offered by entities of the national government and state enterprises and 
companies. The basic specifications and special conditions of the contracts should establish the  
winning bidder's obligation to sign production cooperation agreements for not less than 20% of the 
total value of the bid.375 
3.308.   Special conditions apply to purchases of goods of high scientific and technological value. In 
these cases, the requirement for loc al content may be increased or reduced.376 The margin of 
preference may also be decreased to a minimum of 5%, and the value of production cooperation 
agreements may be raised up to a total of 30% of the total contract value or reduced to a minimum 
of 10%.  
3.309.   Law No.  27.437 created the National Supplier Development Programme (PRODEPRO) with 
the main goal of developing domestic suppliers in strategic sectors. Its specific objectives include: 
increasing the level of national integration in the value chains of sect ors identified as strategic; 
fostering diversification of production, substituting imports and promoting the export of industrial 
products with high value added; encouraging investments in capital goods for technological 
modernization, expanding production  capacity and incorporating advanced (Industry 4.0) 
technologies in its processes; promoting the creation of highly skilled jobs; fostering the design and 
development of innovative technologies; and boosting the development of national government 
suppliers , by ensuring compliance with Law No.  27.437 as regards preferences for national goods in 
the purchase and procurement procedures of those subject to the Law.377 PRODEPRO also seeks to 
 
374 Article 5 of Law No.  27.437 defines goods of domestic origin as those produced or extracted in 
Argentine territory, provided the cost of the raw materials, inputs and materials imported for release into free 
circulation does not exceed 40% of the gross production va lue. The provision of public works is considered to 
be of domestic origin where at least 50% of the materials used therein meet the requirement for goods of 
domestic origin and the enterprise meets the requirements to be considered a local domestic capital  business.  
375 In cases where it is not feasible to reach the required amount, the implementing authority may give 
authorization for the remainder to be made up through investments in the country, technology transfer, 
research and technical training.  
376 As a general rule, the 60% local content requirement may be increased to a maximum of 70% or 
reduced to a minimum of 30% of the gross production value in accordance with Article 15 of Law No.  27437 of 
18 April 2018.  
377 Basic Specifications and General Conditions of the National Supplier Development Programme 
(PRODEPRO). Viewed at: https://www.argentina.gob.ar/acceder -al-program a-de-desarrollo -de-proveedores .  WT/TPR/S/412 • Argentina  
 
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  promote links between enterprises on the supply side of existing and pot ential products and services, 
and those on the demand side, including enterprises in key value chains in production development 
and the national public sector.  
3.310.   Participation in a call for proposals is required to access PRODEPRO (as of March 2021 all 
calls for proposals were closed). In order for an enterprise to take part in a call for proposals, it must 
be incorporated in Argentina or be authorized by the relevant bodies to trade within its territory 
under the current legal regime, be registered with the AFIP, have an investment project, have at 
least one year of continuous economic activity and supply the following strategic industry sectors: 
energy (renewable and non -renewable); railways; electric mobility and transport; mining (for metals 
including lith ium); aerospace; shipbuilding (heavy and light); health; nuclear; and production of 
goods, services and technologies linked to the defence and security forces.378 The company must 
also be registered with the Network of Suppliers (REDEPRO) of the Under -Secre tariat of Industry 
within the MDP. Applications for access to PRODEPRO's benefits are assessed to determine whether 
they are in line with the programme's objectives.  
3.311.   PRODEPRO benefits include financing at a subsidized interest rate, non -repayable 
contribut ions (ANRs) and technical assistance. Where financing is granted by the Investment and 
Foreign Trade Bank (BICE) or the Bank of the Argentine Nation (BNA), the interest rate subsidy may 
be up to 10 percentage points, or 12 points for projects incorporating  advanced technologies 
(Industry 4.0) in their processes. The additional two -point subsidy may also be awarded in 
associative projects between customers and suppliers. Non -repayable contributions must be used 
for eligible costs, including purchase of new c apital goods and/or new parts thereof, moulds and/or 
dies, engineering, product development and prototypes, certification of process and/or product 
standards, tests, measuring and control instruments, Industry 4.0 solutions and any other costs set 
out in t he calls for proposals. The maximum amount of the non -repayable contribution is 
ARS 30 million per project, except for associative projects between customers and suppliers, where 
it can be up to ARS 60 million per project. It must not, however, exceed 70% of the investment.  
Financing will not be provided for more than five ongoing projects per company, including associative 
projects between customers and suppliers, or for total amounts exceeding ARS  150 million.  The 
technical assistance provided by the Nati onal Institute of Industrial Technology (INTI), or any other 
institution with which PRODEPRO has an agreement, is geared towards identifying opportunities for 
improving production, managing technology, incorporating design elements, training staff, 
conduct ing tests, certifying processes and testing products.379 
3.312.   Argentina also gives preference to MSMEs in public procurement procedures through the 
Compremipyme Programme. Under Article 39 of the MSMEs Development Law, No.  25.300 of 
16 August  2000, establishing the Programme, the jurisdictions and entities of the national public 
sector should apply a 5% preference right to tenders from MSMEs supplying goods or services 
produced in the country for purposes of comparing them with the best tender and awarding the 
goods or services contract to such enterprises. The Programme also stipulates a minimum preference 
rate of 10% in tenders or bids for the procurement of goods and services in which only MSMEs are 
competing. Furthermore, the Law authorizes the Executive to co nsider partial bids in order to 
facilitate and increase the participation of MSMEs in tenders and bids for the procurement of goods 
and services in quantities in line with their scale of production.  
3.313.   During the review period, Argentina changed the technolog ical tools and procedures related 
to the reference price control system, which was introduced by Decree No.  558/1996 and 
administered by the Office of the Auditor General (SIGEN). Under the system, SIGEN  determines a 
reference price, a reference value or a n indicative value for evaluating bids.380 This system does not 
 
378 Ministry of Productive Development, Access to the National Supplier Development Programme 
Viewed at: https://www.argentina.gob. ar/acceder -al-programa -de-desarrollo -de-proveedores .  
379 Basic Specifications and General Conditions of the National Supplier Development Programme 
(PRODEPRO). Viewed at: https://www.argentina.gob.ar/acceder -al-programa -de-desarrollo -de-proveedores .  
380 The reference price is defined in SIGEN Resolution No.  36 E/2017 of 20 March 2017 as an average 
market value, under the conditions proper and specific to the procurem ent examined, on the price proposal 
opening date or, in case of two -envelope bidding, on the technical proposal opening date. The reference value 
is defined as the sole value of a good or service obtained from market surveys in cases where the reference 
price could not be determined. The indicative value is provided for evaluating bids for a specific contract in 
cases where it is not technically feasible to give a reference price or reference value due to fluctuation or 
dispersion in market value.  WT/TPR/S/412 • Argentina  
 
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 apply to public works contracts and concessions381; the purchase or rental of immovable property; 
direct contracting owing to exclusivity and speciality382; direct contracting between State agencies 
(national, provincial and/or municipal); or purchases of goods and contracts for services with special, 
non-uniform and non -standard characteristics and conditions. Entities covered by the provisions of 
Decree No.  558/1996 should provide SIGEN wit h the procurement plan or a tentative outline of the 
main purchases or contracts envisaged for each quarter of the following year. These entities are to 
pay a fee to SIGEN for its services, calculated based on the established reference price, reference 
value or indicative value of the purchase or contract.383 Where the ONC fixes a maximum price which 
the procuring agencies may pay for the necessary goods or services, a reference price report will 
not be required.  
3.314.   SIGEN Resolution No.  36 E/2017 of 20 March 20 17 introduced procedural amendments to 
the reference price system, including the use of tools to automate various processes and 
verifications. This Resolution established, as did the SIGEN Resolution No.  122 - E/2016 which it 
repealed, that the reference p rice control would apply when the estimated amount of the purchase 
or contract was equal to or greater than 4,000 units, regardless of the procedure used for selecting 
the contractor.384 Resolution No.  122 E/2016 also modified the schedule of fees payable b y each 
agency to SIGEN.  The fee is calculated based on the established reference price, reference value or 
indicative value of the purchase or contract and is included in the corresponding report. SIGEN 
Resolution No.  248/2020, Official Journal of 23 Octob er 2020, raised the minimum amount of 
contracts subject to the reference price system to 12,000 units. This Resolution also modified yet 
again the schedule of fees payable by each agency to SIGEN, which is currently (as of June 2021): 
0.6% between 12,000 a nd 16,000 units, 0.5% between 16,001 and 45,000 units, and 0.4% between 
45,001 and 150,000 units.  The minimum fee for establishing a reference price, reference value or 
indicative value will be 72 units.  For amounts greater than 150,000 units, the fee for the equivalent 
of 150,000 units will apply, except where additional costs are incurred owing to the complexity 
and/or size of the task. In such cases, the additional costs will be added to the fee.  
3.315.   In the context of the public health emergency, Administrat ive Decision No.  409/2020 of 
18 March  2020 introduced an ad hoc  procedure, namely the Procurement Procedure for Goods and 
Services in the context of the emergency, as laid down in Decree No.  260/2020, by way of exception 
to the standard procurement methods . The procedure is to be applied solely when procuring goods 
and services during the emergency declared by Decree No.  260/2020, and the grounds for doing so 
must be duly set out in the procurement record. When calling for participants in the competitive bi d, 
the entity's procurement unit is required to check the list of suppliers of the type of goods and 
services to be procured who are registered in SIPRO at time of issuing the invitations to tender. At 
least three suppliers must be invited, unless there ar e an insufficient number registered in SIPRO. 
In such cases, the contract may be awarded even if only one bid is presented. The obligation to 
request reference prices or reference values for goods and services from SIGEN remains in place 
where the estimate d amount of the procedure is equal to or greater than 12,000 units. Where the 
preselected bid exceeds SIGEN's reference price by more than 10%, a formal procedure may be 
followed to reduce prices and bring the best bid into line with the reference values g iven. If the 
competent authority decides to award the contract in spite of the bid being higher than the price 
established by SIGEN, it must set out the grounds for doing so in the administrative approval 
document. Under SIGEN Resolution No.  148/2020, the reference price system approved by SIGEN 
Resolution No.  36/2017 will not be applicable to the procurement of goods subject to maximum price 
rules while Decree No.  260/2020 remains in force. As a result, amounts higher than the maximum 
prices established by  SCI Resolution No.  100/20 or by future decisions will not be paid, pursuant to 
 
381 Govern ed by Law No.  13.064, Decree No.  19.324/49 and Law No.  17.520, as amended by Law 
No. 23.696. For the purposes of SIGEN Resolution No. 36 E/2017, national public works means all new 
construction or reparation of an existing building, or work or service of a n industrial nature, regardless of the 
legal framework for such contracts.  
382 Direct contracting owing to exclusivity is considered to be: (a) the purchase of goods or procurement 
of services over which the owner holds exclusive rights to the sale or provis ion; (b) the purchase of goods or 
procurement of services owned by a supplier who is a specific natural or legal person where there are no 
suitable substitutes; (c) where scientific, technical or artistic works must be performed by or purchased from 
compan ies, artists or specialists that are the only ones able to carry out such works.  
383 Decree No.  814/1998.  
384 SIGEN Resolution No.  36 E/2017 may be viewed at: 
http://servicios.infoleg.gob.ar/infolegInternet/anexos/270000 -274999/272960/texact.htm  and Resolution 
No. 122 E/2016 at: http://servicios.infoleg.gob.ar /infolegInternet/anexos/260000 -264999/264621/norma.htm . WT/TPR/S/412 • Argentina  
 
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  Administrative Decision No.  472/2020. This is without prejudice to the control of the reference price 
system.385 
3.316.   By its Order No.  DI-2020-48 of 19 March 2020 and amendments thereto, the ONC 
supplemented the procedure established by Administrative Decision No.  409/2020 for the 
procurement of goods and services in the context of the public health emergency by announcing 
that calls for tenders may be issued on COMPR.A R. This way, they will be sent to the email addresses 
of all suppliers registered in SIPRO depending on their group, type or the subject matter of 
procurement. Where the competitive bid is carried out on COMPR.AR, it should be processed as 
emergency direct  contracting. Bids submitted electronically must be confirmed by the bidder. If 
COMPR.AR is not used, bids will be processed as procurement for the COVID -19 emergency.386 
Where the selection criteria are based on price, the analysis will start with the lowe st bid and, if it 
meets the technical specifications and other requirements, a recommendation to award the contract 
may be made without the need to assess the other bids.  
3.3.7   Intellectual property rights  
3.3.7.1   General framework  
3.317.   Argentina applies the WTO Agreement on  Trade -Related Aspects of Intellectual Property Rights 
(TRIPS), which forms part of its domestic legislation. Argentina is a member of the World Intellectual 
Property Organization (WIPO) and, as such, is party to a number of the treaties administered by th is 
organization. Since the previous review in 2013, Argentina has acceded to the Marrakesh VIP Treaty, 
which entered into force on 30 September 2016 (Table 3.45). Argentina is also party to non -WIPO 
multilateral intellectual property treaties. In this conn ection, during the period under review, Argentina 
signed the Convention on Cybercrime (1 October 2018), the Nagoya Protocol on Access to Genetic 
Resources and the Fair and Equitable Sharing of Benefits Arising from their Utilization to the Convention 
on Biological Diversity (9 March 2017), and the International Treaty on Plant Genetic Resources for Food 
and Agriculture (15 August 2016).387 Argentina signed the Patent Cooperation Treaty in December 1970 
and the Brussels Convention in 1975, but has yet to rati fy them.  
Table 3.45 Participation in WIPO treaties, 2020  
Treaty  Date of entry into force  
Marrakesh VIP Treaty  30 September 2016  
Locarno Agreement  9 May 2009  
Strasbourg Agreement  13 September 2008  
Nice Agreement  24 January 2008  
Performances and Phonograms Treaty  20 May 2002  
Copyright Treaty  6 March 2002  
UPOV Convention  25 December 1994  
Rome Convention  2 March 1992  
Nairobi Treaty  10 January 1986  
WIPO Convention  8 October 1980  
Phonograms Convention  30 June 1973  
Berne Convention  10 June 1967  
Paris Convention  10 February 1967  
Note:  The above treaties were implemented in Argentine legislation through the following laws: Law 
No. 17.251 (Berne Convention), Law No. 19.963 (Conventi on for the Protection of Producers of 
Phonograms), Law No. 22.195 (WIPO Convention and Articles 22 to 38 of the Paris Act of the Berne 
Convention), Law No. 23.478 (Nairobi Treaty), Law No. 23.921 (Rome Convention), Law No. 24.425 
(TRIPS), Law No. 25.140 (1 971 Paris Act of the Berne Convention, and WIPO conventions), Law 
No. 27.061 (Marrakesh Treaty), and Law No. 27.411 (Budapest Convention).  
Source:  Information provided by the authorities and WIPO, WIPO -Administered Treaties: Contracting Parties: 
Argentina.  Viewed at: 
https://wipolex.wipo.int/en/treaties/ShowResults?start_year=ANY&end_year=ANY&search_what=C&
country_id=8C . 
 
385 This Resolution temporarily set maximum prices for some basic consumer products to curb increases 
as a result of the shortage caused by the COVID -19 pandemic.  
386 ONC Order No.  55/2020, Official Journ al of 23 April 2020.  
387 Information from WIPO, Resources: WIPO Lex: Argentina: Treaty Membership. Viewed at: 
https://wipolex.wipo.int/en/members/profile/AR . WT/TPR/S/412 • Argentina  
 
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 3.318.   The main bodies responsible for implementing intellectual property rights legislation are:  
• The National Industrial Property Institute (INPI), a decentralized body attached to the 
Ministry of Productive Development, responsible for implementing laws for the protection 
of industrial property rights;  
• The National Copyright Directorate (DNDA), attached to the Under -Secretariat for 
Registration Matters at the Ministry of Justice and Human Rights, responsible for managing 
the organization and operation of the registration of copyright, the legal instruments that 
could affect copyright ownership, publishing houses, contracts and pseudonyms, in 
addition to the control of the legal deposit of copies of works published in the country 
(Annex II to Administrative Dec ision No. 1.838/2020);  
• The National Arts Fund  (FNA), the implementing authority for the paying public domain 
system388; 
• The Ministry of Justice and Human Rights  and the Government Secretariat for Tourism  of 
the Secretariat -General of the President's Office, the implementing authorities for the 
collective management of copyright and related rights pursuant to Decree No. 600/19;  
• The National Seeds Institute (INASE), a body attached to the Ministry of Agriculture, 
Livestock and Fisheries (MAGyP), responsible for the implementati on of the sui generis  
system for the protection of plant varieties through the breeder's right;  
• The MAGyP Secretariat for Food, Bioeconomy and Regional Development, responsible for 
the administration of, and registration under the regime for, the protectio n of geographical 
indications (GIs) and appellations of origin for agricultural and food products;  
• The National Grape -Growing and Wine Production Institute (INV), an MAGyP body, 
responsible for developing and implementing standards in this area and for the  
administration of, and registration under the regime for, the protection of GIs and 
appellations of origin for wine and wine -based spirits;  
• The MAGyP Secretariat for Agriculture, Livestock and Fisheries, the body charged with 
implementing the FAO Internat ional Treaty on Plant Genetic Resources for Food and 
Agriculture (ITPGRFA).  
3.319.   The legal framework for the protection of intellectual property rights follows the guidelines 
set forth in the WIPO and TRIPS agreements (Table 3.46). During the review period, the  legislation 
was amended in order to simplify the processing of patents and modify time -frames.  
Table 3.46 Protection of intellectual property rights  
Legislation  Coverage and term of protection  Implementing 
authority  
Law No.  24.425  Incorporates the TRIPS Agreement into Argentine legislation.  DNDA, INPI, 
INV, MAGyP, 
INASE  
1. Copyright and related rights   
Law on intellectual property (Law 
No. 11.723, Official Journal of 
30 September  1933) and 
amendments thereto  
Implementing Decree 
No. 41.223/1934  Coverage: Literary, artistic and scientific works including 
computer programmes and databases.  
Obligation to register a work published in Argentina.  
Term of protection: Lifetime of the author + 70 years.  
Anonymous works: 50 years from the date of publication.  
Photographs: 20 years from publication.  
Films: 50 years from the death of the last collaborating party.  
Phonograms: 70  years from the year following publication.  DNDA  
Decree  No. 746/1973; Decree No. 
1.670/1974; Law No. 17.648; Decree 
No. 5.146/1969, implementing 
regulations for Law No. 17.648; Law Coverage: Authors' and composers' rights.  DNDA, FNA  
 
388 Public domain fees are collected directly by the FNA for literary and artistic works, and by the 
respective management organizations for musical, dramatic, dramatico -musical, cinematic and television 
works.  The DNDA collects the fees for the registration of works and contracts, which go to the FNA.  WT/TPR/S/412 • Argentina  
 
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  Legislation  Coverage and term of protection  Implementing 
authority  
No. 20.115; and Decree 
No. 461/1973, implementing 
regulations for Law No. 20.115  
Decree No. 461/1973; Law 
No. 26.899; Decree -Law 
No. 1.224/1958; Decree 
No. 6.255/1958; and FNA Resolution 
No. 15.850/1977  Coverage: Paying public domain fees.  
 DNDA, FNA  
Decree No. 1.671/1974  Coverage: Phonogram producer royalties.  DNDA, FNA  
Decrees No.  1.914/2006 and 
No. 124/2009  Coverage: Collective management of copyright and related 
rights.  DNDA, FNA  
Decree No. 600/2019  Fees to be collected jointly by the organizations managing 
copyright and related rights for the public performance of wor ks 
in accommodation establishments.  Ministry of 
Justice and 
Human Rights, 
DNDA  
2. Patents and utility models  
Law on patents and utility models 
(Law No.  24.481, Official Journal of 
23 March  1996), amended by Law 
No. 27.444 of 18 June 2018  
Implementing Decree No. 260/96 
(harmonized text of the Law on 
patents and utility models), amended 
by Decree No. 403/2019  Coverage: Inventions of products or processes provided they 
are new, involve an inventive step and are capable of industrial 
applicati on. A utility model may not be granted within the 
domain of protection of an existing patent.  
Term of protection: 20 years from the filing of the application, 
non-extendable. Average processing time: five years.  
Scope for use without the holder's authoriza tion if the invention 
has not been exploited within three years of the patent being 
granted or four years of the application being filed.  INPI 
INPI Resolution No. 56/2016 of 12 
September 2016 and clarifications 
thereto in INPI Resolution No. 125 of 
22 November 2016  Acceptance of the validity of the international search pertaining 
to patent applications.  INPI 
INPI Resolution No.  112/2019  Established the Prioritized Patent Examination (PEP) 
Programme.  INPI 
3. Trademarks     
Law on trademarks and designations 
(Law No.  22.362, Official Journal of 
2 January  1981, amended by Law 
No. 27.444), its implementing 
regulations in Decree No. 242/2019 
and amendments thereto; Law on 
collective trademarks (Law 
No. 26.355, Official Journal o f 
27 March  2008) and its implementing 
regulations in Decree No.  1.384/2008  Coverage: Any sign capable of distinguishing one product or 
service from another, including names and commercial slogans.  
Use of the trademark is not compulsory.  
Term of protection:  10 years from registration, indefinitely 
renewable for further 10 -year periods, on the condition that the 
trademark has been used. Average processing time for 
registration: 12 months.  A legal domicile in Argentina must be 
established in order to register a trademark.  INPI 
4. Industrial designs     
Decree -Law No.  6.673/63 and 
amendments thereto; Law 
No. 16.478, Official Journal of 30 
September 1964, amended by Law 
No. 27.444; Decree No.  359/2019  Coverage: Shapes or appearances which, when incorporated in 
or applied to an industrial product, give it an ornamental 
nature . 
Term of protection: 15 years divided up into three consecutive 
five-year periods, from the date of presentation of the design. 
Average processing time for registration: Three working days.  INPI 
5. Geographical indications and appellations of origin  
Law No.  25.380, Official Journal of 
12 January  2001 and amendments 
thereto, including Law No. 25.966; 
Decree No.  556/2009 (implementing 
regulations)  Coverage: Legal regime for geographical indications (GIs) and 
appellations of origin for agricultural and f ood products.  
Terms of protection: Unspecified.  MAGyP  
MAGyP Resolution No.  13/2021  Determines the body to operate as the registry for GIs and 
appellations of origin for agricultural and food products.  MAGyP  
Law No.  25.163, Official Journal of 
8 October  1999, and amendments 
thereto  
Decree No.  57/04 (implementing 
regulations)  Coverage: Regulations for the description and presentation of 
wine and wine -based spirits.  
Term of protection: Unspecified.  INV 
INV Resolution No. 32/2002, 
indication of source/GI regime and 
GI-related requirements; INV 
Resolution No. 35/2002; INV 
Resolution No. 8/2003, controlled 
appellation of origin regime; INV 
Resolution No. 19/2012, requirements 
for producing wines with GIs and 
controlled appellations of origin  Covera ge: GIs and indications of source. Controlled appellations 
of origin. Protection of indications of source, GIs and controlled 
appellations of origin.  
Indications of source: only for table wines in which 80% of the 
grapes used are grown in the area from which the name come s. 
GIs: used exclusively for quality wines.  
Controlled appellations of origin: used exclusively for select 
varieties of wine.  INV 
6. New plant varieties     
Law on seeds and phytogenetic 
creations and amendments thereto Coverage: New plant varieties. Production and marketing of 
seeds. Protection of the ownership of phytogenetic creations.  INASE  WT/TPR/S/412 • Argentina  
 
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 Legislation  Coverage and term of protection  Implementing 
authority  
(Law No.  20.247, Official Journal of 
16 April 1973); Implementing Decree 
No. 2.183/1991  Term of protection: 20 years  (from being granted) for  all species.  
Law No.  24.376, Official Journal of 
6 October  1994 Incorporates the International Convention for the Protection of 
New Varieties of Plants (UPOV) into Argentine legislation.  INASE  
Decree No. 2817/1991, Law 
No. 25.845 on the re -establishment of 
INASE  Establishment of INASE.  INASE  
SAGyP Resolution No. 631/1992  Requirements for inclusion in the National Register of Cultivar 
Ownership.  MAGyP  
INASE Resolution No. 35/1996  Lays down the requirements for the legal private use of seeds.  INASE  
7. Undisclosed information     
Law No. 24.766 of 20 December 1996 
(Law on the confidentiality of 
information and products)  
 Coverage: Natural or legal persons may prevent information 
lawfully within their control from being disclosed to, acquired 
by, or used by others without their consent, if: (a) the 
information is secret; (b) it has commercial value because it is 
secret; and (c) it has been subject to reasonable steps to keep 
it secret.  
Term of protection: Unspecified.  ANMAT  
Source:  Information provided by the authorities.  
3.3.7.1.1   Invention and utility model patents  
3.320.   Patents are regulated by the Law on patents and utility models (Law No.  24.481, Official 
Journal of 23  March  1996), as last amended by Law No. 27.444, Official Journal of 18 June 2018. 
Decree No. 260/1996, Official Journal of 22 March 1996, adopted the Harmonized Text of Law No. 
24.481 on Patents and Utility Models contained in Annex I thereto, as well as its implementing 
regulations in Annex II, with both annexes containing the corrections of Law No. 24.572, Official 
Journal of 23 October 1995. This Decree was amended by Decree No. 403/2019, Official Journal of 
6 June 2019. Inventions of products or processes may be patented pr ovided they are new, involve 
an inventive step and are capable of industrial application. The right conferred by the patent shall 
be determined by the first approved claim. The term of protection is 20 years from the filing of the 
application and is non -extendable. The disclosure of an invention does not affect its novelty when, 
within one year prior to the filing date of the patent application, or the date of recognized priority 
where applicable, the inventor or their successors in title have made the inve ntion known by any 
means of communication or have displayed it at a national or international exhibition. However, the 
application must be accompanied by documentary supporting evidence. According to the INPI, the 
time taken to grant a patent from the mome nt the applicant pays the substantive examination fee 
(the act through which the applicant demonstrates their genuine interest in the patent being 
granted) is 4.64 years on average, depending on the technical area to which the invention relates.389 
3.321.   As a par ty to the Paris Convention, Argentina recognizes the international right of priority. 
When a patent is applied for after an application has been made in other countries, the priority date 
is recognized as the date on which the first patent application was filed, provided that no more than 
one year has elapsed since the initial filing. The right of priority must be claimed when the patent 
application is filed. The application filed in Argentina must not have a broader scope than the foreign 
application and, if it does, the priority must only be partial and relate to the foreign application. 
There must also be reciprocity in the country of the first application.390 Argentina is not party to the 
Patent Cooperation Treaty (PCT). However, according to information from WIPO, Argentine nationals 
filed 251 patent applications under the PCT between 2013 and 2020.391 
3.322.   Utility models are all new forms, configurations or arrang ements of any object that result in 
better or different functioning and endow it with some use, advantage or effect that it did not 
previously have. Utility models are protected through utility model certificates for a non -extendable 
 
389 Information from the INPI. Viewed at: https://www.argentina.gob.ar/inpi/pregu ntas-frecuentes -de-
patentes .  
390 Article 78 of Law No. 27.444, Official Journal of 18 June 2018, which amended Article 14 of the Law 
on patents and utility models.  
391 Information from WIPO. Viewed at: 
https://www.wipo.int/ipstats/en/statistics/country_profile/profile.jsp?code=AR . WT/TPR/S/412 • Argentina  
 
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  period of 10 years. Th e average processing time from the moment the applicant pays the substantive 
examination fee was 3.8 years in 2020.  
3.323.   The right to the patent belongs to the inventor or their successors in title, who may assign 
or transfer the patent and conclude licensing c ontracts. Where the subject matter of a patent is a 
product, the patent confers upon its owner the right to prevent third parties not having the owner’s 
consent from the acts of making, using, offering for sale, selling, or importing that product. Where 
the subject matter of a patent is a process, the owner has the right to prevent third parties not 
having the owner’s consent from using the process,  and from using, offering for sale, selling, or 
importing the product obtained by that process. Use without th e owner's authorization is possible if 
the invention has not been exploited within three years of the patent being granted or four years of 
the application being filed.  
3.324.   Argentina has guidelines on patenting (INPI Resolution No. 243/2003 and amendments 
thereto). The guidelines offer instructions regarding the practices and procedures in the various 
aspects of the examination of patent applications and utility models under the relevant legislation in 
force. INPI Resolution No. 283/2015 of 25 September 2015 in troduced amendments to the patenting 
guidelines approved by INPI Resolution No. P 243/03 and amendments thereto, updating the aspects 
relating to living matter and natural substances and clarifying the aspects that, until that point, had 
not been clearly e xplained under the relevant items. The authorities clarified that the guidelines are 
general instructions that cover standard cases and enable examiners to apply uniform criteria, but 
do not constitute legal standards or provisions. The guidelines for the patentability examination of 
patent applications relating to chemical and pharmaceutical inventions are contained in Joint 
Resolution No. 118/2012, No. 546/2012 and No. 107/2012 of 2 May 2012 of the Ministry of Industry, 
the Ministry of Health and the INPI . 
3.325.   In order to be patentable, manufacturing methods must produce an industrial result; the 
manufacturing procedures for active ingredients and other pharmaceutical components must be 
reproducible and applicable on an industrial scale without the need for fu rther experimentation 
and/or substantial changes to the physical and chemical manufacturing parameters.392 The 
processes for obtaining polymorphs and pseudo -polymorphs are not patentable, since they are 
considered to be a routine experiment for the preparat ion of drugs. In addition, the following cannot 
be patented: new formulations and compositions and the processes for their preparation that are 
based on prior art; combinations of known active ingredients; pharmaceutical compositions, their 
preparation pro cesses and medicines that are not novel for the product or process; new active 
ingredient salts, alcohol esters and other derivatives of known substances; inventions consisting of 
a dosage of an existing product; and products derived from active ingredient s used separately from 
the active ingredient from which they derive.  
3.326.   The main amendments introduced during the review period to the Law on patents and utility 
models include those contained in Decree No. 403/2019, Official Journal of 6 June 2019, which 
entered into force on 6 August 2019 and seeks to speed up the processing of patent applications 
and simplify the processing and examination of utility model certificates. To that end, time -frames 
were shortened and the requirements relating to the filing of p atent and utility model applications 
were reduced and adapted to electronic developments; it was stipulated that the right of priority 
claim would serve as a sworn statement; and the time -frame within which the novelty of the 
invention subject to the utili ty model is not broken was extended from six to 12 months where it is 
the applicant who has made known or disclosed the invention abroad.393 A new procedure for utility 
models was also developed. Law No. 27.444, Official Journal of 18 June 2018, introduced new 
provisions relating to the right of priority and specificities of the processing of utility models. INPI 
Resolution No. 56/2016 and the clarifications thereto in INPI Resolution No. 125/2016 empower the 
INPI to accept the validity of the international search pertaining to patent applications, where it is 
confirmed that the priority claimed under the Paris Convention has been granted abroad by the office 
 
392 Argentine legislation on patents has been questioned by certain trading partners, who claim that 
there are unduly broad limitations in t he guidelines for the examination of patents, which result in the rejection 
of patent applications for categories of pharmaceutical inventions that are eligible for patentability in other 
jurisdictions. Also called into question is the provision that, to b e patentable, processes for the manufacture of 
active compounds disclosed in a specification must be reproducible and applicable on an industrial scale. See: 
Office of the United States Trade Representative, 2019 Special 301 Report, April 2019. Viewed at: 
https://ustr.gov/sites/default/files/2019_Special_301_Report.pdf .  
393 INPI Resolution No. 403/2019 may be viewed at: 
http://servicios.infoleg.gob.ar/infolegInternet/anexos/320000 -324999/323965/norma.htm . WT/TPR/S/412 • Argentina  
 
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 of origin or other offices, provided that these foreign offices carry out the substantive examination  
and are subject to the same standards regarding patentability requirements as applied by 
Argentina.394 According to the authorities, from the entry into force of the above -mentioned 
resolutions until 31 December 2020, there were 1,497 requests for the appl ication of these 
resolutions and decisions were made on 1,293 applications. The main users were the United States, 
the Netherlands, Japan, Germany, Italy, Sweden, France and Spain. The average time taken to make 
a decision on an application from the moment  that the patent owner requests the application of the 
above -mentioned resolutions varies according to the technical area. The authorities indicated that 
these times range from an average of 66 days for the engineering industry to 286 days for 
biotechnolog y, with the overall average being 92 days.  
3.327.   INPI Resolution No. 112/2019, in effect since 3 June 2019, established the Prioritized Patent 
Examination (PEP) Programme to streamline the registration process for inventions.395 The PEP 
involves speeding up the s ubstantive examination of patent applications so that they may begin to 
be studied within 60 days of the form being filed, provided that the first regular filing has been 
effected in Argentina and that the comment period for third parties is complete. The application must 
be published in the INPI's Patent Gazette.396 The PEP form may be downloaded and completed 
online.397 
3.328.   INPI Resolution No. 9/2020, Official Journal of 28 January 2020, introduced an amendment 
to the guidelines laid down in relation to the est ablishment of legal domicile in the procedures 
managed by the INPI. This amendment allows applicants to establish legal domicile anywhere within 
the territory of the Argentine Republic, rather than only within the territorial jurisdiction of the body's 
headquarters, the Autonomous City of Buenos Aires, as was previously required.398 Other provisions 
adopted during the review period include INPI Resolutions No. 1/2018 (simplification of procedures), 
No. 26/2018 (provisions on time -frames for claims), No. 209/ 2018 (establishing the INPI's Internal 
Control Committee), No. 250/2018 (revising the existing fee structure), No. 280/2018 (approving 
the procedure for registering utility models), No. 209/2019 (Internal Control Committee), and 
No. 98/2019 (extensions reg ime).  
3.329.   Argentine legislation permits the free transfer, assignment or licensing of technology by 
persons domiciled abroad in favour of natural or legal persons in Argentina, with no requirement to 
register. However, while not mandatory, registration with th e INPI of technology transfer contracts 
brings tax benefits for the party residing in Argentina if the transfer has an impact on the production 
process and involves the transmission of knowledge.399 The application for registration must include 
the descript ion of the technology being acquired and provide details of any licences; a declaration 
on the availability in Argentina of the technology being acquired and the reasons justifying the need 
for its acquisition from abroad must also be provided.400 The appli cation is examined by the INPI, 
which must decide whether to approve it. Any natural or legal person domiciled in Argentina may 
also be registered as a recipient or licensee.  
3.330.   During the period under review (2013 -20), 31,702 invention patent applications we re filed 
in Argentina (residents plus non -residents) and 14,387 were granted (Table 3.47). In 2020, the 
average time between the applicant paying the substantive examination fee and the patent being 
granted was 4.64 years, depending on the technical area o f the invention. The main areas in which 
patents were granted include processes, engineering and electronics. Over the same period, 1,538 
utility models were applied for and 370 were granted. At the end of 2020 there were 13,926 patents 
in force, since 3,2 41 patents lapsed in 2019 under Order No. 366/2019 due to the non -payment of 
 
394 If the application meets the requirements set forth in the Resolution, the examiner will begin the study 
of the application within the following  60 days. The National Patents Administration is not exempted from carrying 
out the corresponding  substantive examination.  
395 INPI Resolution No. 112/2019 may be viewed at: 
https://www.argentina.gob.ar/sites/default/files/p112_2019.pdf . 
396 Information from the INPI. Viewed at: https://www.argentina.gob.ar/examen -prioritario -de-
patentes . 
397 Information from the INPI. Viewed at: 
https://www.argentina.gob.ar/sites/default/files/formulariopep.pdf . 
398 The body dealing with patents was the exception, since applicants have always been able to establish 
domicile anywhere in the Argentine Republic.  
399 Law No. 22.426 of 12 March 1981 on the transfer of technology.  
400 Information from the INPI. Viewed at: https://www.argentina.go b.ar/inpi/inscribir -de-contratos -de-
transferencia -de-tecnologia -del-exterior -argentina .  WT/TPR/S/412 • Argentina  
 
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  annuities. According to the authorities, the working processes of the National Patents Administration 
were redesigned from 2020, which allowed for significant progress to be made in the substantive 
examination of patent applications.  
Table 3.47 Patents applied for and granted, 2013 -20 
Year  Residents  Non-residents  
Applications  Registrations  Applications  Registrations  
Total  4,275  1,614  27,325  12,822  
2013 643 228 4,129  1,069  
2014 509 265 4,173  1,095  
2015 546 214 3,579  1,345  
2016 884 201 2,925  1,678  
2017 393 176 3,050  2,126  
2018 367 129 3,300  1,396  
2019 442 165 3,260  2,012  
2020 491 236 2,909  2,101  
 
Source:  INPI. 
3.3.7.2   Industrial designs  
3.331.   Industrial designs are protected by Decree -Law No. 6.673/1963 and amendments thereto, 
as well as by Law No. 16.478, Official Journal of 30 September 1964, amended in 2018 by Law No. 
27.444 and Decree No. 353/2019. Shapes or appearances w hich, when incorporated in or applied 
to an industrial product or handicraft, give them an ornamental nature are protected for a period of 
15 years, divided up into three consecutive five -year periods, from the date of registration. INPI 
Resolution No. 252 /2018 introduced regulations to simplify the registration of industrial designs.401 
3.332.   The author of an industrial design and their legitimate successors have the right of ownership 
and the exclusive right to exploit, transfer and register the design. Industrial designs created by 
persons employed by other persons shall belong to their authors, who shall have the exclusive right 
of exploitation, except where the author was specially contracted to create them or was merely 
carrying out instructions recei ved from the persons for whom they work. If the design were a joint 
work of the employer and employee, it shall belong to both, unless otherwise agreed. Where two or 
more persons have jointly created an industrial design, the right of exclusive exploitatio n shall apply 
to all of them, and all shall have the right to register the work created in their name; in such cases 
the relationships between the co -authors shall be governed in accordance with the concept of 
co-ownership.  
3.333.   In order to enjoy the rights rec ognized by the Decree -Law, the author must register the 
design of their creation with the INPI's Directorate of Industrial Designs, which is a decentralized 
body acting under the MDP. Under Argentine law, in the absence of evidence to the contrary, it is 
presumed that the person who first registers an industrial design is its author. The author of an 
industrial design and their legitimate successors may file a claim in order to regain ownership of a 
registration effected fraudulently by a person other than the author.402 An industrial design right is 
applicable to authors of industrial designs created abroad and their legitimate successors, provided 
that their respective countries grant reciprocal rights to Argentine authors or authors resident in 
Argentina. The registration of an industrial design shall be cancelled where it has been effected by 
a person other than its author, following a ruling by the federal courts at the request of an interested 
party, whether or not that party has previously registered de signs.  
3.334.   During the period 2013 -20, 13,486 applications for the registration of industrial designs were 
filed in Argentina and 12,525 were granted (Table 3.48).  
 
401 The Resolution may be viewed at: http://servicios.infoleg.gob.a r/infolegInternet/anexos/310000 -
314999/314816/norma.htm .  
402 It has been indicated that the system does not provide for any substantial examination prior to the 
registration of the industrial design, and that only formal requirements are verified, but not t he existence of 
models that are similar or identical to the one for which registration is sought, leaving it to the federal courts to 
resolve any disputes regarding the novelty of a design. See: European Commission (2019), Argentina Country 
Factsheet. View ed at: https://op.europa.eu/en/publication -detail/ -/publication/2bfca01b -7205-11e9-9f05-
01aa75ed71a1/langu age-en/format -PDF/source -164518153 .  WT/TPR/S/412 • Argentina  
 
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 Table 3.48 Industrial designs: applications and re gistrations, 2013 -20 
Year  Residents  Non-residents  
Applications   Registrations  Applications  Registrations  
Total 7,826  7,231  5,660  5,274  
2013 703 689 762 856 
2014 798 677 564 594 
2015 1,017  899 565 583 
2016 1,115  1,014  538 462 
2017 972 851 677 703 
2018 932 709 675 605 
2019 1,052  988 997 971 
2020 1,237  1,404  861 500 
 
Source:  INPI. 
3.335.   Argentina does not have a law for protecting layout designs of integrated circuits, but these 
layouts can be protected by registering industrial designs. The authorities indicated that the 
Directorate of Industrial Designs is fully digitalized. Applications are submitted, processed, notified, 
granted and the corresponding ownership extended digitally.  
3.3.7.3   Trademarks  
3.336.   The protection of trademarks is regulated by the Law on trademarks and designations (Law 
No. 22.362, Official Journal of 2 January 1981), its implementing regulations in Decree No. 242/2019 
and amendments thereto, as well as by the Law on collective trademarks (Law No. 26.355, Official 
Journal of 27 Marc h 2008) and its implementing regulations in Decree No. 1.384/2008. It is also 
governed by INPI Resolution No. 183/2018 on the administrative resolution of trademark 
oppositions, lapse and nullity. Any sign capable of distinguishing one product or service f rom 
another, including names and commercial slogans, is protected as a trademark under the legislation. 
The term of protection is 10 years from the registration of the trademark and is renewable 
indefinitely for further 10 -year periods, provided that the t rademark has been used within the 
previous five years. Collective trademarks have also been protected since 2008. A trademark must 
be registered in order to be protected in Argentina, for which a legal domicile in the country must 
be established. According  to the INPI, the registration of a trademark takes an average of 20 
months.403 In order for the protection to continue after the initial 10 -year period, a trademark must 
be renewed within the period of six months before its expiry and six months after it ( the latter being 
the grace period, which requires the payment of a fee). The process takes 10 months on average.404 
The trademark does not have to be used prior to its registration in order to be protected.  
3.337.   Argentina is not party to the Madrid Agreement Con cerning the International Registration of 
Marks. The trademark registration system is single -class, meaning that a separate registration 
application must be filed for each class of goods or services described in the International (Nice) 
Classification for the Purposes of the Registration of Marks (in accordance with the version in effect 
at the time the application is filed), which includes 34 classes of goods and 11 classes of service. 
The type of trademark must also be specified in order for it to be regi stered: word (composed solely 
of text), figurative (image without text), mixed (image with a design that includes words, letters, 
numbers or a combination of several or all of them), three -dimensional, sound, olfactory, or motion 
or animated (when composed  of a sequence of movement).405 
3.338.   The registration of a trademark grants the right of trademark ownership in relation to the 
products or services covered by the registration, as well as the exclusive right to its use on the 
market. It also grants the right to  transfer ownership of the trademark to third parties, and to do so 
freely even in cases of co -ownership; the right to license the use of the trademark; and, crucially, 
the right to prevent third parties from using it without authorization. Furthermore, re gistration grants 
the right to oppose the registration with the INPI of signs that may be confused with the trademark; 
 
403 Information from the INPI. Viewed at: https://www.argentina.gob.ar/inpi/marcas .  
404 Information from the INPI. Viewed at: https://www.argentina.gob.ar/inpi/marcas/renovar -una-
marca . 
405 Information from the INPI. Viewed at: https://www.argentina.gob.ar/inpi/marcas/registrar -una-
marca . WT/TPR/S/412 • Argentina  
 
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  and/or to request the nullity of other trademarks filed subsequently that may also be confused with 
it. 
3.339.   A number of INPI trademark -relate d resolutions were issued during the review period, the 
majority of which were linked to the time -frames for opposition procedures. Examples include INPI 
Resolution No. 101/2018, INPI Resolution No. 144/2018, and INPI Resolution No. 183/2018 
containing the  implementing regulations for the administrative procedure for the resolution of 
oppositions, updated by INPI Resolution No. 279/2018 containing the implementing regulations for 
the administrative procedure for the resolution of oppositions, nullity and la pse. 
3.340.   During the period 2013 -20, 628,749 applications were filed for the registration of trademarks 
in Argentina and 474,584 were granted (Table 3.49).  
Table 3.49 Trademarks: requests and registrations, 2013 -20 
Year  Residents  Non-residents  Abroad  
Applications  Registrations  Applications  Registrations  Applications  Registrations  
Total 489,847  352,587  138,902  121,997  57,453  57,294  
2013 65,434  55,166  22,487  19,985  8,389  8,835  
2014 57,386  62,070  19,376  21,809  7,769  12,965  
2015 69,204  58,555  20,429  20,373  8,798  7,297  
2016 55,739  43,674  15,319  15,391  8,010  6,915  
2017 72,611  27,036  15,190  9,050  7,135  6,284  
2018 55,907  24,437  16,700  8,257  8,284  7,204  
2019 49,126  48,184  15,337  15,443  9,068  7,794  
2020 64,435  33,465  14,064  11,689    
 
Source:  INPI. 
3.341.   The geographical indication (GI) and appellation of origin protection system in Argentina is 
voluntary, open and requires registration.406 As of May 2021, 104 GIs and two controlled appellations 
of origin for wine were registered pursuant to Law No. 25.163, as were five GIs and three 
appellations of origin for agricultural and food products, pursuant to Law No. 25.380 and 
amendments thereto.  Neither Law No. 25.380 nor its implementing regulations contain specifications 
on the conditions and term of protection.  
3.342.   The entry of a GI into the register maintained by the Ministry of Agriculture, Livestock and 
Fisheries (MAGyP) is made at the request of anyone who proves that they have a legitimate interest, 
i.e. natural or legal persons directly engaged, within the area in question, in the harvesting, 
production or processing of the product or products for which GI protection is sought, and/or the 
chambers or associations of manufacturers and/or producers of the product to be protected by the 
GI, which are statutorily authorized to that end. In principle, applications for inclusion in the register 
must be made by a group of producers, whether associate d de facto  or officially as a non -profit civil 
association, who shall determine the  geographical area of production. However, a single natural or 
legal person may apply for registration provided that they are alone in the area in producing an 
agricultural or food product with certain characteristics or qualities that mean it is clearly different 
to other products of its kind, and that these characteristics derive from its geographical origin. In 
such cases, the specifications will be reviewed by the impleme nting authority (the MAGyP) in order 
to ensure that they are not expressed in such a way that could give the producer a monopoly over 
the product. Producers whose share of the total volume of the product in the area exceeds 30% may 
also apply for inclusion  in the register. In the case of an individual application, it must be possible 
for the specifications to be replicated by other producers in the area who produce under conditions 
similar to those specified in the relevant registration. These producers may  subsequently apply to 
use the GI to market their products.  
3.343.   In order to be protected by an appellation of origin, agricultural or food products must be 
objectively and closely associated with the geographical area from which they obtain their name. 
There a re two main eligibility conditions: (a) the qualities or characteristics of the product must be 
derived exclusively or essentially from the specific geographical environment of the place of origin; 
and (b) the production and processing of the raw materials , from the beginning of the production 
chain to the final product, must take place in the specific geographical area from which the product 
obtains its name. Appellations of origin are granted for a product and geographical area jointly. The 
 
406 Decree No. 556/2009.  WT/TPR/S/412 • Argentina  
 
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 proposal to ad opt an appellation of origin may be made at the individual or collective initiative of 
producers, provided that they carry out their activities within the area corresponding to the future 
appellation of origin. Producers who seek the recognition of an appe llation of origin may first 
establish a promotion council for the purpose of drafting regulations for the appellation and carrying 
out technical reports covering the region’s historical background and general characteristics, the 
production area’s geograph ical boundaries, the products for which the appellation of origin is to be 
used, the factors which guarantee that the product originates from the area indicated, the description 
of the production process for the product, and the identification of the produ cer or producers applying 
for recognition of the appellation of origin.  
3.344.   The National Grape -Growing and Wine Production Institute (INV) under the MAGyP is the 
body responsible for matters relating to GIs and appellations of origin for wine. All aspects rela ting 
to GIs and appellations of origin for wine are regulated by Law No. 25.163 and amendments thereto, 
and by its implementing regulations in Decree No. 57/04. Law No. 25.163 establishes the following 
categories of designations for wines: indication of so urce, GI and controlled appellation of origin, in 
accordance with the conditions of use laid down for each one by the Law. The conditions and terms 
of protection are not specified. The use of an indication of source is reserved exclusively for table 
wines or regional wines. In the case of table wines, in order for the indication of source to be granted, 
80% of the grapes used to produce the wine must be grown in the area from which its name comes. 
The procedure for determining the geographical area correspo nding to an indication of source, the 
conditions of use and control of this category in the regime falls within the exclusive competence of 
the INV.  
3.345.   For the purposes of Law No. 25.163, "geographical indication" (GI) means the name that 
identifies a product  originating (product processed and packaged in the geographical area in question 
using varieties from the region) from a region, locality or demarcated production area in the national 
territory no larger than a province or interprovincial zone that is alr eady recognized. The GI is 
reserved exclusively for quality wines or wine -based spirits and may only be used if the quality and 
characteristics of the product can be primarily attributed to its geographical origin. The procedure 
for determining the product ion area of a GI falls within the exclusive competence of the INV. 
Applications to the INV to register a GI may be made only by: the INV itself, vine growers or their 
representative organizations, processors of wines and wine -based spirits, and organizatio ns engaged 
in promoting or protecting the interests of persons involved in wine production. In order for the GI 
to be recognized and registered, it must be known at the local and/or national level and it must be 
possible to demarcate its boundaries on the basis of easily identifiable geographical data. Evidence 
that the climate, soil quality, altitude, appearance and other geographical or physical qualities of the 
region distinguish it from other neighbouring regions and give the wines produced in the area 
particular characteristics should also be provided. The identification of the producer or producers 
that are applying for recognition of the GI and the register of vineyards and establishments located 
in the area that would be covered by the future GI are also required for registration.  
3.346.   Under Law No. 25.163, "controlled appellation of origin" means the name that identifies a 
product originating from a region407, locality or demarcated production area in the national territory, 
the particular qualities or characteristics of which are due exclusively or essentially to the 
geographical environment. The use of a controlled appellation of origin is reserved exclusively for 
wines of selected varieties or wine -based spirits of superior quality produc ed in a qualitatively 
different demarcated region of the national territory, the raw material for which comes from the 
same demarcated production area and which is also processed, matured and bottled in this same 
area. Wines or wine -based spirits of superi or quality with particular qualitative characteristics 
different from other wines or spirits produced even in similar environmental conditions may qualify 
for the controlled appellation of origin if they fulfil the relevant requirements and are made from t he 
varieties on the list maintained by the INV. Entry into the system of controlled appellation of origin 
is voluntary. The proposal to recognize a controlled appellation of origin shall be made at the 
individual or collective initiative of vine growers an d winemakers who carry out their activities within 
the production area corresponding to the future controlled appellation of origin. Vine growers and 
winemakers who wish to obtain recognition of a controlled appellation of origin must establish, for 
each c ontrolled appellation of origin, a promotion council similar to that required for other products, 
 
407 Law No. 25.163 defines 'product originating' for the purposes of a controlled appellation of o rigin as a 
product that is obtained from grapes of Vitis vinifera varieties entirely produced in the area in question and 
that is processed and bottled in that area, which must be expressly certified by the INV.  WT/TPR/S/412 • Argentina  
 
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  consisting of representatives of vine growers and processors that carry out their activities within the 
production area of the controlled appellation of origi n. They must also prepare their regulations.408 
3.3.7.4   New plant varieties  
3.347.   New plant varieties are protected by the Law on seeds and phytogenetic creations and 
amendments thereto (Law No. 20.247, Official Journal of 16 April 1973) and implementing Decree 
No. 2.183 /1991. Other legislation in the area includes Law No. 24.376, Official Journal of 
6 October  1994; Decree No. 2.817/91; Law No. 25.845 on the re -establishment of INASE; SAGyP 
Resolution No. 631/1992; and INASE Resolution No. 35/1996.  
3.348.   Protection is obtained through the breeder's right. The term of protection is 20 years (from 
granting) for all species. The competent body is the National Seeds Institute (INASE), which is 
responsible for implementing the Law on seeds and phytogenetic creations and exercises the  
enforcement powers deriving from the implementation of this Law. INASE’s mandate includes 
protecting the intellectual property of phytogenetic creations and proposing and implementing any 
other regulations relating to the identity and quality of seeds. IN ASE issues the national and 
international quality certificate for all plant organs intended for sowing, planting or propagation, in 
line with the agreements signed or to be signed in this area.409 
3.349.   Joint General Resolution No. 4.248/2018 established the Simp lified Agricultural Information 
System (SISA), which replaced the registers and information systems linked to the production and 
marketing of various grains and seeds. The SISA allows for INASE to control the varietal identity of 
soya beans, wheat, cotton,  rice, groundnuts, malting barley and peas.410 INASE Resolution 
No. 228/2018 introduced provisions for the marker -assisted verification and identification of soya 
bean varieties, and INV Resolution No. 56/2018 approved the use of the seed importation applic ation 
form, which is generated by the management system and used to seek authorization from the 
cultivar's breeder.  
3.350.   The National Seeds Commission (CONASE), consisting of members from the public and 
private sectors, is responsible for proposing rules and in terpretation criteria for the implementation 
of the Law on seeds and specifying the species to be included under the "supervised" seed system.411 
CONASE advises on technical issues relating to the rules and interpretation criteria for the 
implementation of Law No. 20.247 on seeds.412 CONASE has a standing Secretariat and technical 
committees to deal with specific matters.413 
3.3.7.5   Copyright and related rights  
3.351.   The National Copyright Directorate (DNDA), attached to the Under -Secretariat for 
Registration of the Ministr y of Justice and Human Rights, is the body responsible for the protection 
of copyright. The DNDA manages the organization and functioning of the copyright register (in 
accordance with Annex II to Administrative Decision No. 1.838/2020). The DNDA maintains the 
register of works and related legal instruments, periodicals and contracts, and ensures the control 
of the legal deposit of copies of works published in the country. The DNDA also acts as a custodian 
of unpublished works and advises public bodies, priv ate entities and/or individuals on the 
interpretation of the current rules in the area of copyright and related rights.  
 
408 The regulations for each controlled appell ation of origin must, inter alia , demarcate the production 
area; identify the varieties cultivated; maintain the register of vineyards suitable for producing wines entitled 
to the controlled appellation of origin; specify the fermentation methods and proce dures for control, quality 
evaluation and sensory examination; and maintain a register of vine growers, winemakers and products with a 
controlled appellation of origin.  
409 Information from INASE. Viewed at: https://www.argentina.gob.ar/inase/quees . 
410 INASE Resolutions No. 378/2018 (soya beans, wheat and cotton), No. 72/2019 (rice and 
groundnuts) and No. 207/2019 (malting barley and peas).  
411 The species subject to mandatory supervision are: alfalfa, ann ual ryegrass, citrus fruits, cotton, grain 
sorghum, maize, malting barley, orchard grass, perennial ryegrass, potatoes, rescue grass, rice, soya beans, 
summer squash, sunflower, tall fescue, wheat, and white clover.  
412 Information from CONASE. Viewed at: https://www.argentina.gob.ar/inase/conase .  
413 These technical committees deal with the following areas: cotton, designations, forest -tree seeds, 
maté, nurseries, oilseeds, potatoes, rice, seed analysi s, seeds of forage plants, summer cereals and winter 
cereals. Information from CONASE. Viewed at: https://www.argentina.gob.ar/inase/conase . WT/TPR/S/412 • Argentina  
 
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 3.352.   The implementing authority for the paying public domain system is the National Arts Fund 
(FNA). The FNA itself collects the public domai n fees for literary and artistic works. For musical, 
dramatic, dramatico -musical, cinematic and television works, the fees are collected by the respective 
management organizations. The DNDA collects the fees for the registration of works and contracts, 
which go to the FNA.  
3.353.   The main legislation on copyright is the Law on intellectual property (Law No. 11.723, Official 
Journal of 30 September 1933) and amendments thereto, as well as implementing Decree 
No. 41.223/1934 (implementing regulations). Other laws an d regulations governing copyright and 
related rights include: Decree No. 746/1973, Decree No. 1.670/1974, Law No. 17.648, Decree 
No. 5.146/1969, Law No. 20.115, Decree No. 461/1973, Law No. 26.899, Decree -Law 
No. 1.224/1958, Decree No. 6.255/1958, FNA Reso lution No. 15.850/1977, Decree No. 1.671/1974, 
Decree No. 1.914/2006, Decree No. 124/2009, and Decree No. 600/2019.  
3.354.   The following are considered protected by copyright under the Law on intellectual property: 
scientific, literary and artistic works, which c omprise writings of all types and scope, and include 
source and object computer programmes; compilations of data or other materials; dramatic works, 
musical compositions and dramatico -musical works; cinematographic, choreographic and 
pantomime works; works  of drawing, painting, sculpture and architecture; models and works of art 
or science applied to trade or industry; printed matter, plans and maps; plastics, photographs, 
recordings and phonograms; and any scientific, literary, artistic or didactic product ion, irrespective 
of its reproduction procedure. Copyright protection covers the expression of ideas, procedures, 
methods of operation and mathematical concepts, but not those ideas, procedures, methods and 
concepts per se . 
3.355.   The right of ownership of a scientific, literary or artistic work entitles its author to dispose 
of, publish, perform and publicly exhibit, alienate, translate, adapt or authorize the translation of, 
and reproduce the work in any form. Ownership of intellectual works falls to the aut hors thereof 
during their lifetime, and to their heirs or legal successors for 70 years starting from 1 January of 
the year following the author’s death.414 In cases of works of collaboration, this term shall begin 
from 1 January of the year following the d eath of the last collaborating party. For posthumous works, 
the 70 -year term shall begin from 1 January of the year following the death of the author.415 In the 
case of anonymous works, the term is 50 years from the date of publication. For photographs it i s 
20 years from the date of publication and for films it is 50 years from the death of the last of the 
collaborating parties. Ownership of fixed intellectual performances falls to the performers for a period 
of 70 years starting from 1 January of the year following publication, while rights over phonograms 
fall to the producers for the same duration.416 
3.356.   Inclusion in the DNDA's register is not required for copyright protection; works are protected 
from the moment of their creation without having to fulfil any  other requirements. However, the 
authorities do recommend that the works be registered, since they consider that registration offers 
security by providing certainty as to the existence of the work on a certain date, its title, author, 
translator and conte nt. It also provides proof of authorship, as registration is a presumption of 
authorship granted by the State, with a certified date of registration. Registration allows for 
comparisons to be made in cases of plagiarism and piracy, since the copy of the de posited work is 
submitted to the Judiciary for assessment and as a form of protection, as the author of the work is 
presumed to be the party that appears as such in the certificate issued by the DNDA, in the absence 
of proof to the contrary.417 
3.357.   While inclus ion in the DNDA's register is not required for copyright protection, it is mandatory 
for all works published in Argentina. The publisher must register these works with the National 
Intellectual Property Registry within three months of their appearance, and  also deposit copies 
 
414 In addition to the author of the work and their heirs o r legal successors, other holders of the 
intellectual property rights are: those who have the author’s permission to translate or adapt the work and 
natural or legal persons whose employees have produced a computer programme under contract in the 
performan ce of their professional duties, unless stipulated otherwise.  
415 The updated text of the Law on intellectual property may be viewed at: 
http://servicios.infoleg.gob.ar/infolegInternet/anexos/40000 -44999/42755/texact.htm .  
416 These provisions, contained in Article 5 bis of the Law on intellectual property, were introduced by 
Article 1 of Law No. 26.570, Official Journal of 14 December 2009.  
417 Information from the DNDA. Viewed at: 
https://www.argentina.gob.ar/justicia/derechodeautor/beneficios .  WT/TPR/S/412 • Argentina  
 
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  thereof. The same deadline, beginning from the first day on which such works are placed on sale in 
Argentina, prevails for works printed abroad that are published in Argentina. The National Intellectual 
Property Registry publishes in t he Official Journal the names of the works submitted for registration, 
along with the relevant information (title, author, publisher and class). If opposition has not been 
raised within one month of publication, the Registry registers the works and grants the authors, 
where requested, the permanent ownership title. The deposit of works, effected by the publisher, 
guarantees completely the rights of the author over their work and those of the publisher over their 
publication. The failure to register a publis hed work leads to the suspension of the right of the author 
until such time as the work is registered, and such rights are recovered by the actual act of 
registration.  
3.358.   Unpublished works may also be deposited in custody. As regards such works, the author or  
their legal successors may deposit a copy of the manuscript with the depositor’s certified signature 
(Article 1 of Decree No. 31.964/1939). This act protects authorship for three years, after which time 
the deposit may be renewed for a further three years  within 30 days following its expiry. If the 
deposit is not renewed, the copy is destroyed.418 Any publishing, translation, purchase -sale, transfer 
or participation contract, in addition to any other contract linked to intellectual property rights, are 
also registered with the Registry, provided that the works to which they relate have been published. 
For the registration of any work, the Registry receives fees set by the Executive.  
3.359.   Argentina has a number of collective management organizations, which include  the Argentine 
General Society of Authors (ARGENTORES), the Argentine Society of Music Authors and Composers 
(SADAIC), the Civil Association of Argentine Film Directors (DAC), the Argentine Association of 
Performers (AADI), the Argentine Chamber of Phonogr am Producers (CAPIF), and the Argentine 
Performers Management Society (SAGAI). Decree No. 600/2019 on Collective Management 
Organizations, Official Journal of 30 August 2019, empowers the implementing authority (the 
Ministry of Justice and Human Rights and  the Government Secretariat for Tourism of the 
Secretary -General of the President's Office) to establish special monthly fees to be collected by all 
collective management organizations for the public performance of works in accommodation 
establishments, an d to set the monthly caps on the fees payable by an individual establishment. The 
monthly collection of the fees established by the implementing authority shall be carried out by the 
collective management organizations with state recognition to operate, an d the fees shall be 
distributed equally among the organizations. In order to distribute the royalties payable to foreign 
film and audiovisual author -directors, the DAC must sign the relevant reciprocity agreements with 
any counterparts abroad, and do so on  a preferential basis with those counterparts operating in 
countries in which Argentine film and audiovisual author -directors enjoy a minimum level of 
protection. SAGAI is empowered to collect and distribute the royalties generated in Argentina by 
performe rs (actors or dancers) of foreign audiovisual works or other media, only where there is a 
representation agreement with the counterpart abroad that ensures reciprocity of treatment and 
remuneration rights for communication to the public in the third countr y for performers participating 
in national works.419 
3.360.   As part of the protection of copyright in Argentina, provision is made for the "paying public 
domain", which was established by Decree -Law No. 1.254/1958 and its implementing regulations in 
Decree No. 6.255 of 28 April 1958. This means that copyright royalties shall be paid for the 
publication of works that have fallen into the public domain, whether due to express legal provisions 
or to the expiry of the established legal terms of protection. These roy alties may not exceed the 
current fees for the use of works in the private domain. The paying public domain covers all forms 
of exploitation included under the Law on intellectual property and all parties that obtain any direct 
or indirect benefit from the  works, performances, phonographic productions, broadcasts and 
productions.420 Books, publications and texts used in official primary and secondary education 
programmes are exempt from the payment of public domain copyright royalties. The revenue 
collected from the paying public domain forms part of the financing of the FNA, which grants loans 
to stimulate, develop, safeguard and reward artistic and literary activities in Argentina and their 
dissemination abroad. The FNA is also financed by a sum equivalent to 10% of the price of any 
tickets to dance parties or dances, and a sum equivalent to 5% of the price of any advertisement 
broadcast on radio and television stations. Resolution No. 15.850/1977, amended by Resolution 
No. 16.001/2016, provides that copyrig ht royalties must be paid to the "agents" of the FNA, i.e. the 
 
418 Decree No. 7.616/1963.  
419 Decrees No. 1.914/2006 and No. 124/2009.  
420 Article 100 of Law No. 27.591, Official Journal of 14 December 2020.  WT/TPR/S/412 • Argentina  
 
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 collective management organizations. Collection of the fees depends on the type of royalty: 
performance royalties are paid to ARGENTORES; inclusion royalties to ARGENTORES for the literary 
part and SADAIC for the musical part; exhibition fees to ARGENTORES in the Autonomous City of 
Buenos Aires and SADAIC in Greater Buenos Aires and the rest of the country; and public 
performance, radio and television broadcasting, and reproduction royalties to SADAIC.421 
3.361.   The fee charged for works in the paying public domain is the same as that charged for the 
use of a work in the private domain in the case of the following royalties: direct performance, radio 
performance/broadcasting, inclusion, literary and musi cal reproduction, public performance, 
exhibition in cinemas and/or exhibition of audiovisual works. In other cases, a percentage of the 
private domain fee is charged. Such is the case for the following royalties: exhibition (30%), radio 
and television perf ormance/broadcasting (10%), television performance (10%; 2%422), reproduction 
of sculptures and architectural works (10% of the retail price of each unit, collected directly by the 
FNA), public performance of dance music (5%), and publication of literary, m usical, and scientific 
works (3% of the cover price).  
3.362.   Law No. 26.899 of 3 December 2013 establishes that the public bodies and institutions that 
comprise the National System of Science, Technology and Innovation (SNCTI) and that receive 
funding from the St ate must develop their own or shared open -access institutional digital 
repositories, in which their researchers, technologists, teachers, post -doctorate fellows and masters 
and doctoral students shall deposit their scientific and technological publications  resulting from work, 
training and/or projects that have received full or partial public funding. These public bodies and 
institutions must establish policies to ensure public access to such digital repositories, as well as 
institutional policies for their  management and long -term preservation.  
3.3.7.6   Undisclosed information  
3.363.   The protection of undisclosed information is regulated by Law No. 24.766 (Law on the 
confidentiality of information and products that are lawfully under the control of one person and are 
impro perly disclosed in a manner contrary to fair trade practices), adopted on 20 December 1996. 
The Law stipulates that natural and legal persons shall have the possibility of preventing information 
lawfully within their control from being disclosed to, acquir ed by, or used by others without their 
consent in a manner contrary to honest commercial practices423, so long as such information meets 
the following requirements: (a) it is secret in the sense that it is not, as a precise assembly of its 
components, gener ally known among or readily accessible to persons that normally deal with the 
kind of information in question; (b) it has commercial value because it is secret; and (c) it has been 
subject to reasonable steps, by the person lawfully in control of the infor mation, to keep it secret. 
Undisclosed information that fulfils the above -mentioned requirements is protected by the Law. 
Information shall not be protected if it has fallen into the public domain in any country as a result of 
the publication of any of the  protected data or the presentation of all or parts thereof in scientific or 
academic circles, or if it has been disclosed by any other means. The protection of undisclosed 
information applies to information contained in documents, electronic or magnetic m edia, optical 
discs, microfilm, film or other similar elements. In the case of a product or procedure that is 
protected by an invention patent, the Law on confidentiality stipulates that any third party may use 
the invention prior to the expiry of the pate nt, for experimental purposes and in order to collect the 
information required for the approval for marketing of a product or procedure by the competent 
authority after the expiry of the patent.  
3.364.   Information relating to products for which registration or ma rketing authorization is sought, 
which is to be submitted to the local health authority and attests to the efficacy and safety of 
products using new chemical entities never before registered in Argentina or any other country, is 
protected against any disho nest commercial use as defined in Law No. 24.766 and may not be 
disclosed so long as it fulfils the requirements stipulated in this Law and is the result of a significant 
 
421 Where a public performance features works in the public domain alongside those in the private 
domain, the minimum royalty to be collected by the FNA shall be 40% of the total amount of copyright 
accruing, regardless of the number of public works used.  
422 Pursuant to Resolution No. 16.001/2016, the 10% applies to works for which the collector is 
ARGENTORES and the 2% to those for which the DAC is the collector.  
423 The following are consider ed as practices contrary to honest commercial practices: breach of 
contract, breach of confidence and inducement to breach, as well as the acquisition of undisclosed information 
by third parties who knew, or were grossly negligent in failing to know, that such practices were involved in the 
acquisition.  WT/TPR/S/412 • Argentina  
 
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  technical and economic effort. Argentine legislation does not provide for the grantin g of exclusive 
rights for a set period of time to the test data (such as that of the agrochemical or pharmaceutical 
industry) that are included in a dossier submitted to the health authority for the purposes of 
obtaining sanitary clearance.  
3.365.   In the case of products similar to those registered or authorized for marketing (sanitary 
clearance) in Argentina or in countries listed in Annex I to Law No. 24.766424, the local health 
authority shall request only the information considered to be essential when approvin g these similar 
products or authorizing them for marketing.425 Information shall be protected where its disclosure 
is not necessary to protect the public.426 In order to register medicinal or pharmaceutical 
preparations similar to those authorized in Argenti na or in Annex I countries, the product in question 
must be marketed in the country of origin. In the case of medicinal or pharmaceutical preparations 
imported from the countries listed in Annex II to Law No. 24.766427, the submission of a certificate 
from the health authority of the country of origin is required in addition to the above information. 
The above -mentioned medicinal or pharmaceutical preparations must be manufactured in 
pharmaceutical laboratories, the factories of which have been approved by g overnment entities of 
"high sanitary surveillance" countries or by the Ministry of Health and meet the manufacturing and 
quality control standards required by the national health authority. Once the requested information 
has been submitted, the Ministry of  Health shall have 120 days, as from the submission of the 
application for registration of the medicinal or pharmaceutical preparation, to announce its decision. 
The approval of the registration or marketing authorization of like products does not give ent itlement 
to the use of the protected confidential information.  
3.366.   The above -mentioned regime is applicable to applications for the registration of medicinal 
preparations to be manufactured in Argentina that are similar to those already included on the health 
authority’s register and those authorized for public use in at least one of the Annex I countries, even 
when the product in question is being registered for the first time. It is also applicable to goods to 
be imported from Annex II countries that are simi lar to those already included on the health 
authority’s register. In the case of products that are manufactured in Argentina and have never 
before been registered in the country, yet are registered and authorized in certain Annex I countries, 
information c onfirming the efficacy and safety of the product must be submitted to the local health 
authority. This same requirement applies to imports from an Annex II country in which no like 
products were included on the local health authority's register even when t he product was authorized 
and marketed in the country of origin, as well as to imports of products manufactured in countries 
not included in Annexes I and II, and not authorized for use in any of the Annex I countries.  
3.367.   The protection conferred by Law No. 2 4.766 does not grant any exclusive rights to those 
who possess or have developed the information. However, where third parties access the information 
in a manner contrary to honest commercial practices, the holder of the information shall be entitled 
to request precautionary measures be taken to stop the unlawful conduct, and/or to bring civil 
proceedings with a view to prohibiting the use of the undisclosed information and obtaining financial 
compensation for the prejudice sustained. In addition, anyone wh o contravenes the law as regards 
confidentiality is subject to criminal liability.  
3.3.7.7   Enforcement  
3.368.   Infringements of intellectual property rights are penalized by law.428 The Law on the 
promotion of books and reading specifically penalizes reproduction without t he consent of the author 
 
424 Austria, Belgium, Canada, Denmark, France, Germany, Israel, Italy, Japan, the Netherlands, Spain, 
Sweden, Switzerland, the United Kingdom and the United States.  
425 This information includes: the proposed na me for the product and its formula, the pharmaceutical 
forms that it shall take, its pharmacological classification and selling condition; technical information on the 
method of control, shelf life, processing method and data on the bioequivalence or bioav ailability of the product 
in relation to like products; and the proposed markings, label and package inserts.  
426 Pursuant to Article 10 of the Law, information shall be exempt from protection where its publication 
is necessary to protect the public or where  steps are taken to ensure the protection of such information against 
dishonest commercial use.  
427 Australia, Brazil, Chile, China, Cuba, Finland, Hungary, Ireland, Luxembourg, Mexico, New Zealand 
and Norway.  
428 Infringements of intellectual property rights are penalized by Laws No.  11.723 (copyright and related 
rights), No.  24.481 (patents and utility models), No.  22.362 (trademarks), No.  25.380 (GIs and appellations of 
origin of agricultural and food products),  No. 25.163 (indications of source, GIs and appellations of origin for WT/TPR/S/412 • Argentina  
 
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 or publisher.429 The federal courts have jurisdiction over industrial property rights cases. The 
ordinary civil or commercial courts consider cases of infringement of copyright and related rights 
and violation of breeder's rights be tween holders and third parties.430 The body responsible for 
applying sanctions for violation of breeder’s rights is INASE (the courts are competent only in the 
event of an appeal). Law No. 27.411 of 22 November 2017 approved the Council of Europe's 
Convention on Cybercrime, with certain re servations.  
3.369.   Under Article 172 of the Criminal Code, violations of copyright are punishable by a prison 
sentence ranging from one month to six years. The Law on copyright considers the following to be 
punishable by a prison sentence and by the seizure of th e unlawful publication: (a) any person 
publishing, selling or reproducing by any means or instrument an unpublished or published work 
without authorization from its author or legal successors; (b) any person falsifying intellectual works 
(publication of an  already published work, falsely showing the name of the publisher authorized for 
this purpose); (c) any person publishing, selling or reproducing a work, suppressing or changing the 
name of the author, the title of the work or fraudulently altering the te xt thereof; and (d) any person 
publishing or reproducing a larger number of copies than duly authorized. Likewise, the following 
shall be punished by means of a prison sentence of one month to six years' duration: (a) any person 
who, for profit -making purp oses, reproduces a phonogram, without written authorization from its 
producer or the producer’s licensee; (b) any person who, for the same purpose, facilitates unlawful 
reproduction through the hiring of phonograms or other material carriers; (c) any perso n 
reproducing or selling unauthorized copies on the orders of third parties; (d) any person storing or 
displaying unlawful copies and who cannot provide proof of their origin through the invoice linking 
them in commercial terms to a lawful producer; and (e ) any person importing unlawful copies with 
a view to their public distribution.  
3.370.   The injured right holder may request, in a commercial or criminal court, the seizure of the 
copies of phonograms reproduced unlawfully and of the reproduction materials. The j udge may order 
this measure ex officio  and may also request sufficient security from the applicant, where they 
consider that the applicant lacks the necessary capital resources. The unlawful copies shall be 
destroyed and the reproduction equipment auctione d. Judges may order for preventive purposes the 
suspension of a theatrical, cinematographic, philharmonic or other similar performance; the seizure 
of the denounced works and of the proceedings collected in violation of the rights; and any other 
measure us ed to protect the rights covered by the Law on intellectual property.  
3.371.   Under the Law on patents and utility models, the unlawful appropriation of the rights of the 
inventor shall be treated as a counterfeiting offence and punished by imprisonment for a term  of six 
months to three years and a fine. This penalty shall likewise be imposed on any person who 
knowingly: (a) produces or causes to be produced one or more objects in violation of the rights of 
the owner of the patent or utility model; and (b) imports,  sells, places on sale, markets, displays, 
or introduces into Argentine territory, one or more objects in violation of the rights of the owner of 
the patent or utility model. The same penalty, increased by one -third, shall be imposed on: (a) any 
person who  has been a partner, agent, advisor, employee or worker of the inventor or their 
successors in title and who unlawfully appropriates or discloses the invention while it is still 
unprotected; (b) any person who, by corrupting the partner, agent, advisor, em ployee or worker of 
the inventor or their successors in title, brings about the disclosure of the invention; and (c) any 
person who violates the secrecy obligation imposed by the Law. In addition, the Law provides that 
a fine shall be imposed on any person  who is not the owner of a patent or utility model or no longer 
enjoys the rights conferred thereby but makes use on their goods or in their advertising of names 
liable to mislead the public as to the existence thereof. In the event of repetition of the of fences 
punished by the Law on patents and utility models, the penalty shall be doubled.  
3.372.   In addition to criminal proceedings, the owner of the patent and their licensee or the owner 
of the utility model may bring civil proceedings in order to prohibit the c ontinued unlawful 
exploitation and obtain compensation for any prejudice sustained. On submission of the patent or 
utility model certificate, the injured party may seek the following precautionary measures, subject 
to such security as the judge may conside r necessary: (a) seizure of one or more copies of the 
offending articles; and (b) an inventory or impoundment of the counterfeit articles and the 
 
wine and wine -based spirits),  No. 20.247 (new plant varieties), Decree -Law No.  6.673/1963 (industrial 
designs) and Decree No.  1.384/2008 (collective trademarks).  
429 Law No. 25.446, Offic ial Journal of 26 July 2001.  
430 WTO document IP/N/6/ARG/1 of 4  December  2002, and information provided by the authorities.  WT/TPR/S/412 • Argentina  
 
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  machinery specially designed for the manufacture of the products or the carrying -out of the offending 
process.  The above -mentioned measures shall have no further effect after 15 days if the applicant 
has not brought the corresponding judicial proceedings.  
3.373.   The Law on trademarks and updates thereto provide that a penalty of imprisonment for a 
term of three months to  two years and a possible fine of ARS 4,000 to ARS 100,000 shall be imposed 
on anyone who: (a) forges or fraudulently copies a registered trademark or a designation; (b) uses 
a registered trademark or a designation that is forged or fraudulently copied or belongs to a third 
party without that party’s authorization; (c) offers for sale or sells a registered trademark or a 
designation that is forged or fraudulently copied or belongs to a third party without that party's 
authorization; or (d) offers for sale, sells or otherwise markets goods or services with a forged or 
fraudulently copied registered trademark. As in the case of patents, the criminal and correctional 
federal courts are competent to hear criminal cases, and the civil and commercial federal court s are 
competent to hear civil cases. The injured party may request the seizure and sale of the goods and 
other items with the offending trademark, in addition to the erasure of the offending marks and 
designations and the destruction of all items bearing t hem. 
3.374.   Law No. 25.986 of 29 December 2004, amended by Law No. 26.458, Official Journal of 
16 December  2008, prohibits the import or export of goods under any suspensive or definitive 
customs regime where a simple inspection of the goods reveals that they bea r a counterfeit 
trademark or are pirated copies. In cases of doubt, AFIP may suspend the release of the goods for 
a maximum of seven working days in order to consult the right holder so that they may ask the 
competent judge to order the precautionary measu res that they deem appropriate.431 Regulations 
implementing the Law were issued in 2006 when AFIP provided the customs services with operational 
and control measures for detaining counterfeit goods.432 
3.375.   In order to step up the campaign against trade in counterfeit items, AFIP implemented the  
warning system Sistema de Asientos de Alerta  by means of AFIP General Resolution No. 2.216/2007, 
amended by AFIP General Resolution No. 4.571/2019, Official Journal of 3 September 2019. The 
registration of holders of trademarks or copyright or related rig hts with the Sistema de Asientos de 
Alerta  is voluntary and free of charge. This system enables AFIP's Malvina Computer System (SIM) 
to identify, upon the registration of a suspensive or definitive import or export regime, 
importers/exporters who do not ho ld intellectual or industrial property rights, and to notify the right 
holders in order to identify whether the goods are counterfeit.433 The processing of the regimes 
covered by the Sistema de Asientos de Alerta , with the exception of those submitted by th e right 
holder registered in the system, shall be blocked for one working day, as from the working day 
immediately following the date of registration. During this period, the right holder registered in the 
system shall be notified of the existence of the o peration subject to control. At their request, the 
physical inspection of the goods will be carried out in their presence. In the event that the interested 
party fails to appear or the period during which processing is blocked elapses, customs shall, on th e 
grounds of the risk analysis carried out, execute ex officio  the control measures it deems appropriate. 
If the existence or presumption of trademark fraud is confirmed, the relevant legal and 
administrative proceedings shall be initiated.434 The registrat ion of the trademark in the system shall 
be valid for two years and is renewable for similar periods at the request of the interested party.435 
Once this period has elapsed, the registered trademark(s) concerned must be renewed by its holder 
and/or agent in  the 30 days prior to its expiry.436 
3.376.   According to Annex II of AFIP General Resolution No. 4.571/2019, customs’ operational or 
control bodies shall stop regimes involving goods found to bear a counterfeit trademark, as well as 
pirated copies, and file the co rresponding complaint with the Department of Customs Legal 
Procedures. In the case of goods for which it cannot be reliably determined whether the trademark 
is original or counterfeit or whether the copies are authorized by the copyright holder, in additio n to 
above -mentioned actions, the Non -Economic Prohibitions and Trademark Fraud Division of AFIP's 
 
431 Law No. 25.986 may be viewed at: http://servicios.infoleg.gob.ar/infolegInternet/anexos/100000 -
104999/102592/texact.htm .  
432 AFIP External Note No.  53/2006.  
433 AFIP General Resolutions No.  2.216/2007 and No.  4.571/2019.  
434 Information from AFIP. Viewed at: 
https://www.afip.gob.ar/genericos/guiavirtual/consultas_detalle.aspx?id=6375568 .  
435 AFIP Gener al Resolution No. 2.216/07, Articles 1 and 3.  
436 Information from AFIP. Viewed at: 
https://www.afip.gob.ar/genericos/guiavirtual/consultas_detalle.aspx?id=816719 8.  WT/TPR/S/412 • Argentina  
 
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 Directorate of Investigations must be involved in order to establish who holds the rights. Once the 
right holder has been identified, they shall be summoned and required to determine whether the 
goods are original or counterfeit.  
3.377.   With regard to geographical indications (GIs), Laws No. 25.380 and No. 25.163 provide that 
infringements of the Laws in question, their regulations, the GI regime, the regulations for  
appellations of origin for agricultural and food products or the decisions of their councils, committed 
by natural or legal persons who or which use the system or are included in the relevant council's 
register, shall be classified as follows for the purp oses of punishment: (a) "minor infringements", if 
they involve inaccuracies in compulsory statements or register entries, a failure to issue 
communications or a failure to meet deadlines; (b) "infringements in the production and processing 
of protected pro ducts"; and (c) "breaches", which involve the improper use of GIs or controlled 
appellations of origin, and infringements of the rules and regulations relating to the use of names, 
symbols and emblems associated with an appellation of origin of agricultura l and food products on 
other products which are not the protected products or may harm their image. Minor infringements, 
infringements and breaches may be punished (by the MAGyP or the INV, as appropriate) with: (a) 
a fine of up to 50 times the market valu e of the infringing products; (b) confiscation of infringing 
products; (c) temporary suspension of the use of the GI or controlled appellation of origin; or (d) 
permanent cancellation of the use of the GI or appellation of origin. The authorities indicated  that 
no penalties were imposed during the period under review.  
3.378.   The penalties described above may also be imposed on natural or legal persons not 
registered in the protection system in the following cases: (a) improper use of a GI or appellation of 
origin; (b) the use of trade names, expressions, signs, abbreviations or emblems whic h, because of 
their identity or similarity to protected appellations or registered signs or emblems, may mislead or 
confuse as to the nature or origin of the agricultural or food products; (c) improper use of protected 
geographical names on labels, in trad e documents or product promotional material, even if they are 
accompanied by the terms "kind", "type", "style", "method", "imitation" or a similar expression that 
may confuse the consumer with respect to a GI or appellation of origin. In cases of repeat 
infringements or where the products are intended for export, fines may be increased by up to double 
the amount. During administrative proceedings, the infringing products may be placed under 
preventive seizure; the relevant judicial authorization shall be re quired for this purpose.WT/TPR/S/412 • Argentina  
 
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  4  TRADE POLICIES BY SECTOR  
4.1  Agriculture, forestry and fisheries  
4.1.1   Agriculture and food processing  
4.1.1.1   Main features and objectives  
4.1.  The agricultural sector is very important for Argentina, owing to the scale of the country's 
agricultural output and to the sector's contribution to exports and GDP. Argentina is one of the 
world's largest producers and exporters of agricultural products. In particular, Argentina is a major 
producer and exporter of cereals, soya and the meat of bo vine animals. Agriculture's share of GDP 
(including stockbreeding and forestry, but not food processing) was 6.5 % in 2020, in current peso 
terms, compared with 5.7 % in 2019 and 4.9 % in 2018. Arable crops accounted for 4.0 % of GDP; 
animal husbandry for 2.0 %; and agricultural and livestock services (excluding veterinary services) 
for 0.4 %. The fluctuations of agriculture's current share of GDP are largely reflective of variations in 
the prices of agricultural products, exchange -rate fluctuations, and the effe cts of climate 
phenomena. These factors had a negative impact on the sector's output in 2018 and 2019. In 2020, 
owing to the effects of the COVID -19 pandemic, the sector contracted by 6.9 % in real terms year 
on year. Nevertheless, this contraction was smal ler than the 9.9 % real-terms reduction in overall 
GDP.1 
4.2.  The agricultural sector is also a major employer: in 2020 (as at the third quarter), agriculture, 
stockbreeding, hunting and forestry directly accounted for 5.5 % of total jobs (5.4 % from agriculture 
and stockbreeding alone), and a further 6.2 % of the working population was employed in processing 
food, beverages and tobacco.  
4.1.2   Main products  
4.3.  The main agricultural products are soya beans, maize, wheat, sunflowers, sorghum, grapes, 
lemons,  pears, apples, rice, meat and livestock (chiefly bovine animals). Argentina is one of the 
world's leading producers of sunflower -seed oil, soya beans and soyabean oil, honey, lemons and 
the meat of bovine animals. The country's principal exports are oil s eeds, livestock products and 
cereals.  
4.1.2.1   Soya  
4.4.  Soya beans are the main oil seed cultivated in Argentina, accounting for some 92 % of oilseed 
output in 2020. In the last three seasons, soya beans were the country’s second -largest grain crop, 
with an average annu al production volume of 51 million tonnes between 2016 and 2020.2 Some 
32.6% of production takes place in the province of Buenos Aires, followed by the provinces of 
Córdoba (28.8 %), Santa Fe (18.0 %), Entre Ríos (5.8 %) and Santiago del Estero (5.2 %). The 
employment figures recorded for the third quarter of 2020 show that some 64,000 people work in 
the cultivation of cereals, oil seeds and fodder, with a further 22,000 employed in the processing of 
vegetable oils and fats.  
4.5.  Soyabean production volume in the p eriod under consideration peaked in the 2014 -15 season 
(61.4 million tonnes). Output levels remained high, albeit falling, in the following seasons; owing to 
climate problems, however, a fall in production to 37.8 million tonnes was recorded for 2017 -18. 
The following season saw a return to output growth, but production fell again (by 11.7 %) in 2019 -20, 
when it totalled 49 million tonnes, which was below the average for the previous five years.3 In 
general, since 2016, the area under cultivation has been s hrinking (it went from 19.8 million hectares 
in 2014 -15 to 16.9 million in 2019 -20) and production has been falling; this is partly due to the 
 
1 National Institute of Statistics and Censuses (INDEC) (2021), Informe del Avance del Nivel de 
Actividad. Cuarto Trimestre de 2020. Cuentas nacionales Vol. 5, No. 4 . Viewed at: 
https://www.indec.gob.ar/uploads/informesdeprensa/pib_03_21B1D23916BF.pdf . 
2 Under -Secretariat for Agriculture, Secretariat for Agriculture, Livestock and Fisheries (SAGyP), Ministry 
of Agriculture, Livestock and Fisheries (MAGyP), Agricult ural Estimates. Viewed at: 
http://datosestimaciones.magyp.gob.ar/ . 
3 SAGyP, MAGyP, Agricultural Estimates. Viewed at: http://datosestimaciones.mag yp.gob.ar/ . WT/TPR/S/412 • Argentina  
 
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 changes to export duties, which have been unfavourable to soya beans and soyabean products, and 
partly due to the ir reduced relative profitability in comparison with other crops, chiefly maize.4 
4.6.  The soya industry encompasses activities in the primary and processing sectors, and is highly 
export -oriented. Although there are a large number of producers in the primary sector, just a few 
of these account for some 50 % of output. The main outputs of soyabean processing are oils, flours, 
meals and pellets, and biodiesel. The majority of the soya beans produced are earmarked for 
processing: 84 % are used to produce oil, flour s, meals, and pellets. There are 45 plants producing 
soyabean oil, belonging to 31 companies, with plant capacity for milling some 60 million tonnes per 
year (2018). Several of these companies are also engaged in primary activities and most of them 
possess  their own soyabean storage facilities and port terminals, for the marketing and export of 
soya beans, and the derived oils, flours and meals. The soyabean industry is Argentina's largest 
export chain, representing a quarter of total exports. Argentina is the world's third largest exporter 
of soya beans, and its largest exporter of soyabean oil, flours and meals. Of total crude soyabean 
oil production, 60 % is exported, with the remainder either used to produce biodiesel or for refining. 
The residues or by -products from the oil -producing industry, which chiefly consist of protein -rich 
flours, meals and cakes, are processed into pellets to be turned into animal feed, the majority (some 
90%) being exported.5 
4.7.  Following a decline in 2018, as a result of lower pr ices and a sharp fall in the volume of exports, 
soyabean and soya -product exports recovered in 2019, totalling USD  16,476  million 
(USD  15,054 million  in 2018) and accounting for 26 % of total exports (24.4 % in 2018).6 Soyabean 
exports, except seed, totalle d USD 3,455 million (USD 1,438 million in 2018); soyabean oil exports 
totalled USD 3,447 million (USD 3,020 million in 2018); exports of flours, meals and pellets left over 
from soyabean oil extraction totalled USD 8,799 million (USD 9,190 million in 2018) ; and biodiesel 
exports totalled USD  775 million (USD 971 million in 2018). In 2020, exports fell, since production 
had been hit by the effects of the COVID -19 pandemic: exports from the soya production value chain 
totalled USD  14,382 million, 12.7 % less t han in 2019. Soyabean exports, except seed, totalled 
USD 2,328 million; soyabean oil exports totalled USD 3,776 million; exports of flours, meals and 
pellets left over from soyabean oil extraction totalled USD 7,810 million; and biodiesel exports 
totalled USD 468 million.7 
4.8.  To tackle the drought that characterized the 2016 -17 season, the authorities introduced a 
temporary production -incentives scheme for soyabean farmers in the provinces of Salta, Jujuy, 
Formosa, Santiago del Estero, Tucumán, Corrientes, Mi siones, Catamarca, La Rioja and Chaco, 
known as the Belgrano Plan.8 The scheme covered sales made and recorded from 1  March to 
30 September  2017.9 Farmers were required have marketed soya beans sown in the 2016 -17 season 
and to be enrolled in the fiscal register of operators trading in grains and pulses. The incentive 
totalled five percentage points per tonne of the average official f.o.b. value for  the month in which 
the sale took place; the first 2,000 tonnes sold were eligible.  
4.9.  A sworn declaration of foreign sales (DJVE) must be completed and filed for exports of most of 
the products in the soyabean value chain (with the exception of some types of  flour, meal and 
pellets), and those in the sunflower, maize and wheat production value chains. DJVEs for products 
in the soya value chain, with the exception of soya beans themselves, must contain further 
 
4 Under -Secretariat for Microeconomic Planning (SPM), Secretariat for Economic Policy, Ministry of the 
Treasury and Public Finance (2019), Informes de Cadenas de Valor. Oleaginosas: Soja - septiembre 2019 . 
Viewed at: https://www.argentina.gob.ar/sites/default/files/sspmicro_cadenas_de_valor_soja.pdf . 
5 SPM, Secretariat for Economic Policy, Ministry of the Treasury and Publ ic Finance (2019), Informes de 
Cadenas de Valor. Oleaginosas: Soja - septiembre 2019 . Viewed at: 
https://www.argentina.gob.ar/sites/default/files/sspmicro_c adenas_de_valor_soja.pdf . 
6 However, the 2019 results were lower than those recorded for 2016 and 2017, when exports from the 
soya production value chain totalled USD 18,911 million and USD 17,170 million, respectively, representing 
32.7% and 29.3 % of tota l exports. See: INDEC (2020), Complejos Exportadores , at: 
https://www.indec.gob.ar/indec/web/Nivel4.Tema.3.2.39 . 
7 INDEC (2021), Intercambio comercial argentino, Cifras estimadas de dici embre de 2020 . Comercio 
exterior vol. 5 No. 1 . Viewed at: 
https://www.indec.gob.ar/uploads/informesdeprensa/ica_01_21C2B9FE5325.pdf . 
8 Joint General Resolution No. 3. 993-E/2017 by the Ministry of Agro -Industry and the Federal Public 
Revenue Administration (AFIP): "Belgrano Plan agricultural stimulus".  
9 The original date was 31 August 2017. Under -Secretariat for Agriculture Order No. 3/2017, Official 
Journal of 31 Augu st 2017, extended the period until 30 September 2017.  WT/TPR/S/412 • Argentina  
 
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 information, in addition to that which is required  for the majority of other products for which a DJVE 
must be filed.  
4.10.  A high rate of export duty is applied to soya beans and soyabean products, higher than those 
for other grains and agricultural products. This differential might explain, in part, why farme rs have 
been moving towards other crops. With a view to making the agricultural sector more competitive, 
Decree No. 133/2015 of 16 December 2015 zeroed all export duties, with the exception of those on 
soya, for which the rates were set at 30 % for soya bea ns and at 27 % for soyabean oils, flours and 
meals. Those levels were below the 35 % and 32 %, respectively, applied until December 2015.10 
Decree No. 1.343/2016 of 30 December 2016 provided for a gradual reduction in the export duty 
rate by 0.5 percentage po ints per month between January 2018 and December 2019. However, 
these reductions were only implemented between January and August 2018, when the 
above -mentioned Decree was repealed by Decree No. 793/2018 of 3 September 2018, which set 
export duty rates at 12% for all tariff headings in the soya value chain, with a limit of ARS  4 per 
USD 1 exported. This amount was in addition to a rate of 18 % for all products in the soya production 
value chain. The 12 % limit was lifted by Decree No. 37/2019 of 14 December 2 019. The Public 
Emergency Law of 21 December 2019 established that taxation on soya exports may not exceed 
33%. In accordance with that requirement, Decree No. 230/2020 of 4 March 2020 increased the 
rate to its maximum of 33 %, applicable to exports of soya  beans, and of oils, flours or meals that 
are made of or contain soya.  Decree No. 790/2020 of 4 October 2020 temporarily reduced the export 
duty on soya beans and soyabean residues to 31 % and the duty applied to oils to 25 %, 30% or 
31%, depending on the pa ckaging type, for goods shipped before 1 January 2021.  
4.11.  In the case of biodiesel, Decree No. 486/2018 set an export duty rate of 15 %, which replaced 
the rate of 8 % set at the start of January 2018 by Decree No. 1.025/2017, which had, in turn, 
abolished the system of sliding export duty rates established by Decree No. 1.719/2012. In addition 
to that rate, Decree No. 793/2018 added a rate of 12 % and Decree 230/2020 replaced it with a rate 
of 30 % (Table 4.1). Exports of soya beans and soyabean products are not eligible for duty 
drawbacks. Moreover, the tariff levied on soya beans in 2020 was 8 %; the rate applied to oil was 
10% or 12 %; and the rate applied to flours, meals and pellets was 6 %. 
Table 4.1 Duties on soya beans, and on soya flours, meals and oils  
( %) 
Period  Soya beans  Soya flours and 
meals  Soya oils  Biodiesel NCM 
3826.00.00  
31/12/2014  35.0%  32.0%  32.0%  Sliding duty.  
17/12/2015 to 
31/12/2017  30.0%  27.0%  27.0%  Sliding duty. 
0.0%  
1/172018 to 
31/8/2018  0.5 percentage point 
monthly reduction  0.5 percentage point 
monthly reduction  0.5 percentage point 
monthly reduction  8% 
31/08/2018  26.0%  23.0%  23.0%  15% 
04/09/2018  12%a + 18%  12%a + 18%  12%a + 18%  12%a + 15%  
04/03/2020  33% 33% 33% 30% 
05/10/2020  31% (33%)b 31% 31%/30%/25%  29%b 
a Until 14 December 2019, could not exceed ARS per USD . 
b From 1 January 2021 . 
Source:  Under -Secretariat for Economic Planning (SPE), Secretariat for Economic Policy, Ministry of the 
Treasury and Public Finance, Informes de Cadenas de Valor. Oleaginosas: Soja - septiembre 2019 . 
Viewed at: https://www.argentina.gob.ar/sites/default/files/sspmicro_cadenas_de_valor_soja.pdf ; 
Decree No. 230/2020 and information provided by the authorities.  
 
10 Furthermore, the following export duties have been set: MERCOSUR Common Nomenclature (NCM) 
1517.90.10 Mixtures of refined oils that do not contain soyabean oil, 15 %; NCM 1518.00.90 Inedible mixtures 
or preparations, of vegetable origin, that contain soya, its by -products or residues, etc., 20 %, 4%, 6% or 25 % 
(depending on the residue percentage); NCM 2309.90.90 Preparations that contain soya, its by -products or 
residues, 20 % (in labelled bags with a net weight of 50 kg or less) or 27 % (put up in another way). The export 
duties for tariff headings 1518.00.90, 2309.90.10 and 2309.90.90 were superseded by Article 2 of Decree 
No. 640/2016, Official Journal of 3 May 2016. NCM head ing 2309.90.60 Preparations that contain soya, its 
by-products or residues, except those put up in labelled bags with a net weight of 50 kg or less, with a rate of 
20%, was incorporated by Article 3 of Decree No. 361/2016, Official Journal of 17 February 2 016. WT/TPR/S/412 • Argentina  
 
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 4.1.2.2   Maize  
4.12.  Maize is Argentina's second most important crop, afte r soya beans. Furthermore, it is a sector 
that has been enjoying very robust growth in the period under review: since 2018, its production 
volume has been the greatest of all the grains, overtaking soya beans. Argentina is the world's fifth 
largest maize p roducer, accounting for 3 % of total global production. The province of Córdoba 
contributed 32.9 % of the country's production, followed by the provinces of Buenos Aires (26.7 %), 
Santa Fe (12.6 %) and Santiago del Estero (9.7 %). Average output for the 2016-20 period was 
49.6 million tonnes, peaking in the 2019 -20 season at 58.4 million tonnes. In the 2019 -20 season, 
an area of 9.5 million hectares was planted and total output was ultimately 58.4 million tonnes.11 
4.13.  The maize value chain is organized on th e basis of primary production of the grain, followed 
by successive stages of processing, characterized by a diverse range of products and technologies. 
The first link in the value chain is made up of a large number of producers of varying sizes. The bulk 
of output is exported (62 % in 2019 -20) or sold unprocessed (30 %).12 Of the maize sold in the 
domestic market, 40 % is used as animal feed. Within the maize -milling industry, both wet and dry 
milling are employed.13 In the case of wet milling, there are seven  main establishments, one of 
which accounts for 50 % of production. In the case of dry milling, there are nine main establishments. 
There are 733 establishments producing balanced feeds. The production of bioethanol from maize 
has been increasing continuous ly since 2012.14 
4.14.  Argentina is the world's third largest exporter of maize, accounting for 19 % of the total 
marketed by volume in 2019. The exports of the maize production value chain totalled 
USD 6,136  million in 2020, compared with USD 6,034 million in 20 19; they represented 11 % of total 
exports. The main markets were the ASEAN countries (mainly Viet Nam), Egypt, Algeria, Chile and 
the Republic of Korea.15 The majority of exports were of grain maize; they amounted to 
USD 6,078  million in 2020, a figure hig her than the USD 5,965 million recorded for 2019 and the 
USD 4,251  million for 2018.16 
4.15.  The export duties applied to maize have fluctuated in the period under consideration (Table 
4.2). Decree No. 133/2015 zeroed the export duty on all products in the value  chain as of 
17 December  2015. Decree No. 793/2018 set the export duty rate at 12 % for all tariff headings in 
the value chain, with a limit of ARS 4 per USD 1 exported for primary products. Exports of processed 
goods in the maize value chain are eligible f or duty drawback. Extra -zone import duties (DIEs) are 
8% on grain maize, between 6 % and 10 % on maize flours, and 10 % on maize oils. In accordance 
with Decree No. 230/20, an export duty of 5 %, 7% or 12 %, depending on the variety, is levied on 
grain maize.  
 
11 Argentine Grain Exchange, Agricultural Estimates Department (DEA) (2019), Informe Cierre de 
Campaña Nº 5 -Maíz. 2018/19 , 6 September 2019. Viewed at: 
http://www.bolsadecereales. com/ver.cierre.de.campana.105 . 
12 SPM, Secretariat for Economic Policy, Ministry of the Treasury and Public Finance (2019), Informes de 
Cadenas de Valor. Cereales: Maíz. Febrero 2019.  Year 4. No. 41. Viewed at: 
https://www.argentina.gob.ar/sites/default/files/sspmicro_cadenas_de_valor_maiz.pdf . 
13 Wet milling is chiefly used to obtain products and inputs for the food and pharmaceutical industries. 
Dry milling i s used to obtain breakfast cereals, semolina, flours and meals, alcohols and alcoholic beverages. 
See: Monsanto, Producción, Almacenaje y Distribución del Maíz . Viewed at: 
https://www.monsantoglobal.com/global/ar/productos/documents/triptico.cadenamaiz.pdf . 
14 SPM, Secretariat for Economic Policy, Ministry of the Treasury and Public Finance (2019), Informes de 
Cadenas de Valor. Cereales: Maíz. Febrero 2019.  Year 4. No. 41. Viewed at: 
https://www.argentina.gob.ar/sites/default/files/sspmicro_cadenas_de_valor_maiz.pdf . 
15 INDEC (2020), Complejos exportadores Año 20 19, Comercio exterior . Vol. 4, No. 4, Informes 
Técnicos . Vol. 4, No. 36. Viewed at: 
https://www.indec.gob.ar/uploads/informesdeprensa/complejos_03_201711CCEF8E.pdf , and INDEC (2021), 
Complejos exportadores Año 2020, Comercio exterior . Vol. 5, No. 4, Informes Técnicos . Vol. 5, No. 38. Viewed 
at: https://www.indec.gob.ar/uploads/informesdeprensa/complejos_03_21311B84F340.pdf . 
16 National Directorate of Agriculture (DNA), MAGyP, on the basis of INDEC (2020). Viewed at: 
https://www.indec.gob.ar . WT/TPR/S/412 • Argentina  
 
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 Table 4.2 Export duties and drawbacks applicable to grain maize, on maize flours, and 
on maize oils  
(%) 
Period  Grain maize  Maize flours  Maize oils  
Duty  Drawback  Duty  Drawback  Duty  Drawback  
31/12/2014  20.0%  0 5.0%, 15.0%   15.0%   
17/12/2015 
to 
03/09/2018  0.0%  0 0.0%  2.05%a, 6.0%a 0.0%  2.5% to 3.0%  
04/09/2018  12%b 0 12%b 0.5%a, 3.25%c 12%b 0.5% to 0.75%c 
04/03/2020  5%, 7% or 12%  0 12%  12%  
a From 1 January 2017. Decree No. 1.341/2016.  
b Until 14 December 2019, could not exceed ARS 4 per 1 USD.  
c From 21 August 2018. Decree No. 767/2018.  
Source:  SPM, Secretariat for Economic Policy, Ministry of the Treasury and Public Finance (2019), Informes 
de Cadenas de Valor. Cereales: Maíz. Febrero 2019. Year 4. No. 41. Viewed at: 
https://www.argentina.gob.ar/sites/default/files/sspmicro_cadenas_de_valor_maiz.pdf ; Decree 
No.230/2020 and information provided by the authorities.  
4.1.2.3   Wheat  
4.16.  Wheat is another of Argentina's major crops: the next largest, after soya beans and maize. 
The province of Buenos Aires accounts for over 50 % of the country's output, followed by Córdoba, 
Santa Fe and Entre Ríos. In recent years, wheat production has benefited from the increased 
profitability of the planted area, the expansion o f that area, and the temporary abolition of export 
duties. Wheat production has increased rapidly in recent years, in particular since the 2016 -17 
season, which saw a record crop and enabled the cultivated area to be expanded throughout the 
national territ ory. The area under cultivation continued increasing in the following seasons: some 
7 million  hectares of wheat were planted in the 2019 -20 season, an area 10.5 % larger than in the 
previous season. Moreover, the volume produced was 19.8 million tonnes, sli ghtly more than the 
output for the 2018 -19 season. The Argentine Grain Exchange estimated that the wheat value chain 
would contribute USD 3,027 million to Argentine GDP in 2020, which would represent 10 % of gross 
agricultural output.17 
4.17.  Primary production o f wheat involves some 50,000 producers, three quarters of whom are 
small -scale farmers (up to 300 hectares). Milling, the largest -scale processing activity, is 
concentrated in 183 flour mills. Bread -making is the main way in which the flour is processed, 
followed by the production of small flour packages for family use, of pasta and of biscuits, as well as 
by industrial bread production.18 The second stage of processing that uses wheat flour as its main 
input includes bakery products, pasta, biscuits and pa stry, and pre -packaged mixtures for home 
baking.  
4.18.  Over two thirds of the wheat produced is intended for export; the remainder is either milled 
in the country or used as seed. Over 80 % of flour production is destined for the domestic market. 
Exports of wheat  grain, except seed, totalled USD 2,121 million in 2020, which was less than the 
USD 2,450 million recorded in 2019 and the USD 2,482 million recorded in 2018.19 Exports of wheat 
flour hit USD 215 million in 2019 (USD 195 million in 2018), following a 24 % increase in 2017, 
influenced by the reintroduction of drawbacks and the zeroed export duties (see below). Exports 
 
17 Argentine Grain Exchange, Agricultural Estimates Department (DEA), Informe Cierre de Campaña 
Trigo 2019/2020 , 23 January 2020. Viewed at: http://www.bolsadecereales.com/ver.cierre.de.campana.105 . 
18 SPM, Secretariat for Economic Policy, Ministry of the Treasury and Public Finance (2018), Informes de 
Cadenas de Valor. Cereales: Trigo. Marzo de 2018. Drawn up with the information available in Februa ry 2018. 
Year 3. No. 37. Viewed at: 
https://www.argentina.gob.ar/sites/default/files/sspmicro_cadenas_de_valor_trigo.pdf . 
19 INDEC (2020), Intercambio comer cial argentino, Cifras estimadas de diciembre de 2019 . Comercio 
exterior  vol. 4 No. 1. Viewed at: 
https://www.indec.gob.ar/uploads/informesdeprensa/ica_01_20B13D104EB D.pdf  and INDEC (2021), 
Intercambio comercial argentino, Cifras estimadas de diciembre de 2020.  Comercio exterior  vol. 5 No. 1. 
Information viewed at: https://www.ind ec.gob.ar/uploads/informesdeprensa/ica_01_21C2B9FE5325.pdf . WT/TPR/S/412 • Argentina  
 
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 from the wheat production value chain totalled USD 2,471 million in 2020.20 Of that sum, USD 195 
million correspond to wheat flour. In 2018, 1 0 companies, based in - and outside Argentina, 
accounted for 80 % of foreign sales. Brazil is the main destination for wheat exports, in particular 
grain and flour, representing 40 % of the export market. Exports of biscuits, cookies and other bakery 
products  mainly go to other countries in the region.  
4.19.  Wheat -based products enjoyed zeroed export duties on all the tariff headings for the value 
chain, in accordance with Decree No. 133/2015, which covered the period between 
17 December  2015 and 3 September 2018. A s of 4 September 2018, duty was levied on exports of 
all products in the value chain at a rate of 12 %, capped at ARS 4 per 1 USD until 14  December  2019. 
In addition, from 2016 onwards, it was established that exports of wheat flour and other processed 
goods were eligible for drawbacks of 3 %, for products marketed in packings larger than 2 kg, and 
of 4%, for products in packings of 2 kg or less. The DIE levied on durum wheat is 10 % and that 
which is levied on wheat flour is 12 %; the duty levied on wheat glut en, however, is 31 %. 
4.20.  Secretariat for Domestic Trade Resolution No. 325 of 18 August 2015 created the supply 
register for wheat available for marketing, in which any small -scale farmers in La Pampa province 
and southern Buenos Aires province who had availab le bread wheat ready for marketing and who 
had achieved a maximum output of 1,600 tonnes in the 2014 -15 season could enrol. The Secretariat 
for Domestic Trade undertook to facilitate the effective marketing of any flour declared in the 
register. To that en d, it issued Resolution No. 360 of 8 September 2015, which created the demand 
register for wheat available for marketing, in which grain marketers that had the capacity to buy the 
available wheat from farmers and market it effectively, whether in the domes tic or the foreign 
market, could enrol. Resolution No. 24 -E/2017 of 10 January 2017 abolished both registers, since 
neither had achieved the desired effects.  
4.1.2.4   Sunflowers  
4.21.  Sunflower production is concentrated in the province of Buenos Aires, which accounted f or 
55% of the total in 2019 -20; together with the provinces of Chaco (16 %), Santa Fe (14 %), 
La Pampa  (7%) and Santiago del Estero (4 %), it represents 96 % of output. Oil is the chief product 
of sunflower seed milling. Starting in 2016, the sown area increas ed until 2018 -19, when it reached 
1.94 million hectares; it fell to 1.55 million in 2019 -20.21 According to the Argentine Sunflower 
Association (ASAGIR), the gross agricultural output for the sunflower value chain would have been 
as high as USD 2,057 milli on in 2020, while the GDP of the value chain is estimated at 
USD 898 million.22 Owing to the effects of the COVID -19 pandemic, however, those levels were not 
achieved. Although output increased from 3.1 million tonnes in 2012 to 3.53 million tonnes in 2017, 
it fluctuated during this period and is below the 4.65 million tonnes produce d in 2007.23 Production 
of sunflowers has been affected by the crop's replacement in the area of land available for farming 
with more profitable crops like soya, by the technical complexity of growing sunflowers, by sunflower 
oil's loss of domestic market share to cheaper oils, and by the meeting of some foreign demand with 
sunflower oil from elsewhere.24 In the 2019 -20 season, 3.2 million tonnes of sunflowers were 
produced, down 16 % on the previous season.  
4.22.  The sunflower production value chain is largely ge ared towards exports: more than 50 % of 
oil and protein meal is exported. Argentina is the world's third -largest exporter of sunflower oil. In 
2019, exports from the sunflower production value chain totalled USD 830 million, representing 
1.27% of Argentina' s exports for the year. Of that total, USD 581 million corresponded to exports 
 
20 INDEC (2021), Complejos exportadores Año 2020, Comercio exterior . Vol. 4, No. 4, Informes 
Técnicos . Vol. 5, No. 38. Viewed at: 
https://www.indec.gob.ar/uploads/informesdeprensa/complejos_03_21311B84F340.pdf . 
21 Information from MAGyP. Viewed at: https://datosestimaciones.magyp.gob.ar/ . 
22 Rosario Grain Exchange (BCR) (2020), Cadena de valor del girasol: importancia macroeconómica y 
balance de campaña . Viewed at: 
https://www.bcr.com.ar/es/mercados/investigacion.y.desarrollo/informativo.semanal/noticias.informativo.sem
anal/. 
23 Information from the Argentine Government. Viewed at: 
https://datos.agroindustria.gob.ar/dataset/estimaciones.agricolas/archivo/155e4f22.12e5.4026.a0f0.ca1ecb3c
9950. 
24 SPM, Secretariat for Economic Policy, Ministry of  the Treasury and Public Finance, Informes de 
Cadenas de Valor. Oleaginosa. September 2017 . Year 2. No. 29. Viewed at: 
https://www.economia.gob.ar/peco nomica/docs/2017/SSPMicro_Cadena_de_Valor_Oleaginosa.pdf . WT/TPR/S/412 • Argentina  
 
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 of crude oil, USD 165 million to exports of meal and pellets, and USD 84 million to exports of seeds. 
In 2020, total exports from the sunflower production value chain totalled U SD 659 million, 29.4 % 
less than in 2019. The share of exports in the sunflower production value chain was divided into a 
68.9% share for oil, a 16.1 % share for seeds, and a 15.0 % share for meal and pellets.25 
4.23.  Under Decree No. 133/2015, the sunflower oil an d meal industry enjoyed zeroed export duties 
on all tariff headings for the value chain between 17 December 2015 and 3 September 2018. As of 
4 September 2018, duty was levied on exports of all products in the value chain at a rate of 12 %, 
capped at ARS 3 p er 1 USD until 14 December 2019. Starting in 2016, exports of sunflower oil and 
meal were eligible for duty drawbacks. The applicable DIE is 8 % for sunflower seeds, 10 % for crude 
oil, 12 % for refined oil, and 6 % for meal and cake.  
4.1.2.5   Meat of bovine animals  
4.24.  Argentina is the world's sixth largest producer of the meat of bovine animals and its fifth 
largest exporter. As at 31 December 2019, there were 54.4 million head of bovine animals in the 
country, mainly spread across the provinces of Buenos Aires (38 %), San ta Fe (11 %), Corrientes 
(9%), Córdoba (9 %) and Entre Ríos (8 %). At the close of 2020, production had reached 
3.16 million  tonnes and there were 371 operational slaughterhouses, 77 % of which were 
refrigerated facilities, and 23 % of which were municipal and rural slaughterhouses. Although 
Argentina is a major exporter, some 70 % of output is for domestic consumption.26 
4.25.  Federal Public Revenue Administration (AFIP) General Resolution No. 3873 of 6  May 2016 
created the fiscal register of operators in the producti on and marketing chain of bovine and bubaline 
cattle farms and meat and established that economic operators in this market must enrol any natural 
person working with live cattle in the register. Law No. 22.375, Official Journal of 26  January  1981, 
regulate s the regime for the fitting -out and operation of establishments where animals are 
slaughtered, and where products of animal origin are processed or stored. Decree No.  473/1981, 
Official Journal of 20 March 1981, implemented the Regulations for the inspect ion of products, 
by-products and derivatives of animal origin, enacted by Decree No. 4.238/68, Official Journal of 
26 August  1968 and amendments thereto. National Agriculture and Food Quality and Health Service 
(SENASA) Resolution No. 97/1999 lays down the  sanitary conditions for the transportation of live 
cattle.  
4.26.  The Institute for the Promotion of Argentine Beef (IPCVA), created by Law No. 25.507 of 
14 November  2001, is a non -state public law body responsible for promoting local consumption of 
the meat of bovine animals, and for boosting the exports and competitiveness of companies in the 
sector. The IPCVA, which does not directly or indirectly market the meat of bovine animals, 
administers the Argentine Beef Promotion Fund (FPCVA), also created by Law N o. 25.507, to fund 
the activities necessary for fulfilment of its purpose of promoting exports and local consumption of 
meat products and by -products. The IPCVA assembly of representatives is made up of delegates 
from the public sector, from producer provi nces, from the trade association representing the meat 
industry, and from the cold -storage industry; it is chaired by the Minister of Agriculture, Livestock 
and Fisheries.  
4.27.  In the last two decades, the greater profitability of arable crops has led to a degree of 
displacement of livestock farmers, who have tended to relocate to relatively less productive land. 
Small -scale farms with few head of cattle dominate the rearing and fattening of livestock. In 2019, 
there were some 224,919 farmers dedicated to re aring and/or fattening cattle; 5 % of them 
accounted for 51 % of total output.27 Of those establishments, 63 % had 100 or fewer head of cattle 
and just 5 % had herds of more than 1,000 head.28 Various actors participate in the marketing of 
 
25 INDEC (2021), Complejos exportadores Año 2020, Comercio exterior . Vol. 4, No. 4, Informes 
Técnicos . Vol. 5, No. 38. Viewed at: 
https://www.indec.gob.ar/uploads/informesdeprensa/complejos_03_21311B84F340.pdf . 
26 SAGyP and MAGyP. Serie Stock Bovino diciembre 2008 -2020.xls. Viewed at: 
https://www.magyp.gob.ar/sitio/areas/bovinos/informacion_interes/informes/index.php . 
27 National Commission for the Defence of Competition (CNDC) (2016), Merca do Argentino de la Carne 
Vacuna, Resumen . Viewed at: 
https://www.argentina.gob.ar/sites/default/files/cndc_resumen_mercado_de_la_carne_vacuna.pdf . 
28 SPM, Secretariat for Economic Policy, Ministry of the Treasury and Public Finance (2018), Informe de 
Cadenas de Valor, Cárnica -Vacuna, marzo de 2018 . Drawn up with the information available in February 2018. 
Year 3. No. 35. Viewed at: https://www.senado.gov.ar/upload/32029.pdf . WT/TPR/S/412 • Argentina  
 
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 primary production, with small -scale farmers often engaging the services of brokers. The 
cold-storage industry involves slaughter, storage and processing operations. Cold -storage firms are 
classified, according to their sanitary standards/purpose, as: Class A, which meet high  sanitary 
standards, are overseen by SENASA and are authorized to export to all markets; Class B, which are 
also overseen by SENASA, are authorized to operate at the federal level and to export to some 
markets; Class C are authorized to operate at the prov incial level only; and rural slaughterhouses 
are authorized for the municipal level only. In 2020, there were 368 cold -storage plants, 41 % of 
which were Class A and B, accounting for 83.4 % of production.29 
4.28.  In a recent analysis of the meat of bovine animals  market, the National Commission for the 
Defence of Competition (CNDC) concluded that the markets making up the bovine animal production 
chain have all the hallmarks of competitiveness, with relatively low levels of concentration and low 
barriers to entry for new economic operators. Nevertheless, the high degree of informality identified 
at the various stages of the production chain and in retailing lead to asymmetries that could distort 
competition.30 
4.29.  There are three wholesale meat markets in Argentina: Li niers Market (currently in the 
Autonomous City of Buenos Aires (CABA), but scheduled to move to Cañuelas, in Buenos Aires 
province, in late July 2021), Córdoba Market and Rosario Market. Mercado de Liniers S.A. is a private 
company that has, since 1992, ru n Liniers Market and held the concession for the facilities operated 
and activities previously carried out by the National Farmers' Market (MNH). Liniers Market is 
Argentina's largest livestock -trading centre and shapes the reference prices for the whole c ountry. 
It is at Liniers Market that the quotations that guide domestic cattle prices are calculated. On the 
premises of Liniers Market , there are SENASA offices. Liniers Market has an operating system that 
captures and sends data on unloading operations,  sales/weighing and outgoings, in order to ensure 
the traceability of the farms that sell their goods at the market every day.  
4.30.  Decree No. 133/2015 of December 2015 zeroed export duties and abolished the requirement 
to apply for export permits through the r egister of export operations (ROE).31 Export duties were 
zeroed between 17 December 2015 and 3 September 2018. As of 4 September 2018, duty at a rate 
of 12 % was levied on exports of all products in the value chain, capped at ARS 4 per 1 USD until 
14 Decemb er 2019. Decree No. 230/2020 of 5 March 2020 sets export duties of 9 % for the 
refrigerated, chilled and frozen meat of bovine animals, with or without bones.32 
4.31.  Resolution No. 84/2018 of 27 August 2018 enacts and contains, as an annex, the quality 
protocol for the chilled and vacuum -packed meat of bovine animals. The protocol, which is not 
compulsory and which companies sign up to and implement on a voluntary basis, constitutes a 
standard or measure that can be followed in respect of any cuts for which produ cers wish to use a 
quality -based strategy to set their meat apart from that of their competitors.  
4.32.  Exports of frozen, boneless meat of bovine animals amounted to USD 1,937 million in 2020, 
which was below the USD 2,247 million recorded in 2019 (USD 1,208 mi llion in 2018) and 
represented 3.5 % of total exports. Exports of refrigerated, boneless meat of bovine animals 
amounted to USD 654 million in 2020, which was below the USD 772 million recorded in 2019 
(USD  750 million in 2018). Exports of tanned cow and ho rse hides, skins and leather amounted to 
USD 505 million in 2020 (USD 569 million  in 2019 ).33 The bovine animal meat and leather production 
 
29 CNDC (2016), Mercado Argentino de la Carne Vacuna, Resumen . Viewed at: 
https://www.argentina.gob.ar/sites/default/files/cndc_resumen_mercado_de_la_carne_vacuna.pdf . 
30 CNDC (2016), Mercado Argentino de la Carne Vacuna, Resumen . Viewed at: 
https://www.argentina.gob.ar/sites/default/files/cndc_resumen_mercado_de_la_carne_vacuna.pdf . 
31 Joint General Resolution No. 4170.E/2017 by the Ministry of Agro -Industry and AFIP of 
14 December  2017 abolished the ROE, created by Resolution of the now -defunct Ministry of the Economy and 
Production No. 31 of 27 January 2006. Pursuant to Resolution No. 6 of 2 May 2008, the following tariff 
headings of the MERCOSUR Common Nomenclature relating to bovine animals had to be recorded i n the ROE: 
0102.10.10, 0102.10.90, 0102.90.11, 0102.90.19, 0102.90.90, 0201.10.00, 0201.20.10, 0201.20.20, 
0201.20.90, 0201.30.00, 0202.10.00, 0202.20.10, 0202.20.20, 0202.20.90, 0202.30.00, 0206.10.00, 
0206.21.00, 0206.22.00, 0206.29.10, 0206.29.90, 0210. 20.00, 0504.00.11, 0504.00.90, 1602.50.00, 
1602.90.00, 1603.00.00, 2104.10.11, 2104.10.19, 2104.10.21, 2104.10.29, 3503.00.11, and 3503.00.12.  
32 Decree No.  230/2020. MERCOSUR Common Nomenclature. Setting the export duty rate. 
https://www.boletinoficial.gob.ar/detalleAviso/primera/226273/20200305 . 
33 INDEC (2020), Intercambio comercial argentino, Cifras estimadas de diciembre de 2019 . Comercio 
exterior  Vol. 4 No. 1. Viewed at: 
https://www.indec.gob.ar/uploads/informesdeprensa/ica_01_20B13D104EBD.pdf , and INDEC (2021), WT/TPR/S/412 • Argentina  
 
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 value chain accounted for 6.1 % of total exports in 2020, amounting to USD 3,368 million, which 
was 16.5 % down on the  USD 4,042 million of 2019. The main destinations of exports of the meat 
of bovine animals were China, the European Union and Chile. The main markets for bovine animal 
leather were the ASEAN members, China, the European Union, the United States of America and 
India.34 In 2019, Argentina resumed exporting the meat of bovine animals to the United States, 
after the United States Department of Agriculture had announced, in November 2018, that Argentina 
was again eligible to export refrigerated or frozen meat of  bovine animals within the annual tariff 
rate quota, granting Argentina an annual tariff rate quota of 20,000 tonnes of fresh, chilled or frozen 
boneless meat of bovine animals.  
4.1.2.6   Regulatory and institutional framework  
4.33.  MAGyP is responsible for drawing up and  implementing policy on everything relating to 
agriculture, stock -breeding and fisheries. In that connection, it designs and implements public 
policies that promote productivity, the generation of added value and technological innovation, 
thereby facilitat ing the entry of Argentine products into the international market. The 
Directorate -General for Sectoral and Special Programmes and Projects (DIPROSE), which is part of 
MAGyP, is responsible for compliance in respect of the programmes and projects with exte rnal 
funding and the public -private partnerships that come under MAGyP. The Federal Council for 
Agriculture (CFA), created by Law No. 23.843 of 26 September 1990, is the advisory and consultative 
body for the Executive on all agriculture - and fisheries -related matters with an impact on regional 
or provincial economies. The CFA, chaired by the MAGyP, has committees for each region and 
economic activity; these committees can propose coordinated public -sector actions at the national 
and provincial levels.  
4.34.  In 2017, MAGyP's Unit for Rural Change (UCAR) was shut down. Having existed since 2009, 
it used to manage the Ministry's external funding portfolio and act as a link between MAGyP and the 
provincial governments in the administration of programmes.35 UCAR was a lso accredited as a 
national project implementation body (ENIP) by the Climate Change Resilience Fund (FACC) and by 
the Green Climate Fund (FVC). Its activities have been taken over by DIPROSE, which currently 
coordinates programmes and projects with exter nal funding derived from loan agreements or grants. 
For the most part, the projects that DIPROSE manages fund the infrastructure and services 
necessary for production, the improvement of rural populations' living conditions, the strengthening 
of rural inst itutions, and the increased competitiveness of agriculture. The most significant 
programme in the DIPROSE portfolio is the provincial agricultural services programme (PROSAP), 
which implements socially and environmentally sustainable public investment proj ects at the 
provincial and national levels, thereby increasing the coverage and quality of rural infrastructure and 
of agri -food services (see below).  
4.35.  The Secretariat for Agriculture, Livestock and Fisheries (SAGyP) plans and implements public 
policies rel ating to the agricultural, stockbreeding, dairy and fisheries sectors. The Under -Secretariat 
for Livestock and Animal Production (SGPA) is responsible for planning and implementing policies in 
the stockbreeding and dairy sectors.36 By means of Administrati ve Decision No. 1.441/2020, the 
National Directorate for Livestock Production (DNPG), within the SGPA, was made responsible for 
the design, proposal and implementation of national livestock production policies, while the National 
Directorate for Dairy (DNL ) was made responsible for primary production of dairy.37 The 
Under -Secretariat for Agriculture is responsible for formulating, proposing and coordinating the 
implementation of policies, plans and programmes relating to agricultural production.  
 
Intercambio comercial argentino, Cifras e stimadas de diciembre de 2020 . Comercio exterior  Vol. 5 No. 1. 
Information viewed at: https://www.indec.gob.ar/uploads/informesdeprensa/ica_01_21C2B9FE5325.pdf . 
34 INDEC (2021), Complejos exportadores Año 2020, Comercio exterior . Vol. 4, No. 4, Informes 
Técnicos . Vol. 5, No. 38. Viewed at: 
https://www.indec.gob.ar/uploads/inf ormesdeprensa/complejos_03_21311B84F340.pdf . 
35 Nogueira, María Elena (2019), Unidad para el Cambio Rural (UCAR) Ministerio de Agricultura, 
Ganadería y Pesca (Argentina, 2009 -2017).  In: Diccionario del agro iberoamericano , Alejandra Salomón and 
José Muzlera  (editors), TESEOPRESS. Viewed at: 
https://www.teseopres s.com/diccionarioagro/chapter/unidad.para.el.cambio.rural.ucar.ministerio.de.agricultur
a.ganaderia.y.pesca.argentina.2009.2017footnoterecibido.julio.2019footnote/ . 
36 Decree No. 335/2020 (Annex XII).  
37 Administrative Decision No. 114/2020 (Annex II)  WT/TPR/S/412 • Argentina  
 
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 4.36.  The CFA is the advisory and consultative body for the Executive on all agriculture - and 
fisheries -related matters that require its input because of their impact on regional or provincial 
economies.38 It is chaired by the national Minister of Agriculture, Livestock  and Fisheries, and 
comprises the provincial -level ministers and secretaries of state with portfolios pertaining to 
agricultural, agro -industrial and fisheries matters. The Council has three committees covering 
specific economic activities, along with seve ral regional committees.39 
4.37.  Law No. 26.967 of 6 August 2014, the Argentine Food Law, regulates the use of the 
"ALIMENTOS ARGENTINOS UNA ELECCIÓN NATURAL " (Argentine food: a natural choice) stamp, 
which honours products that stand out because of their techno logical innovation, their market 
positioning, or their promotion of the social, cultural and natural aspects of the production and 
processing of Argentine foods. The right to use the stamp is granted for two years, with successive 
renewals for the same len gth of time. A series of quality protocols have been issued for various 
products, such as mineral water, still or aerated; soyabean oil; fresh lemons; fresh brebas and figs; 
garlic; cooked ham; pistachios; fresh pasta; yoghurt; apples; fresh pears; fresh m andarins; frozen 
Illex Argentinus  squid; concentrated grape must; fresh cherries; whole prawns, frozen on board; 
the chilled, vacuum -packed meat of bovine animals; blanched peanuts, roasted peanuts, fried 
peanuts and peanut paste; wheat flour; alfajores  (Argentine sandwich biscuits); and soya mince.  
4.38.  The National Agricultural Technology Institute (INTA) - a decentralized MAGyP body, created 
by Decree -Law No. 21.680/56 - develops innovations in both research and extension in Argentina's 
various value chains, regions and territories, in order to enhance the country's competitiveness, the 
sustainable development of its rural areas, and the living conditions of its rural families. INTA has 
six research centres, 23 institutes and 15 regional centres. INTA runs 15 national programmes for 
managing innovation in Argentina's production chains and territories, two research networks and 
120 regional projects with a territorial focus.40 
4.1.2.7   Policy instruments  
4.1.2.7.1   Border measures  
4.39.  In 2020, tariff protection of agricultural products was at a rate of 7.2 % (Chapter 111 of 
International Standard Industrial Classification of All Economic Activities (ISIC) Rev. 2), the same 
as in the previous Trade Policy Review, compared with 11.7 % for the manufacturing sector 
(Chapt er 3 of ISIC). If using the WTO definition of agriculture, which includes agro -industrial 
products, the average tariff rises to 10.4 %. By WTO category, protection is higher than average for 
dairy products (18.6 %), beverages, spirits and tobacco (18.0 %), sugar and confectionery (17.6 %), 
coffee and tea (14.6 %) and cereals and preparations (11.7 %), whereas it is lower than average for 
cotton (6.3 %), animals and products thereof (7.9 %), oil seeds, fats and oils and their products 
(8.4%), and fruit, vegetables a nd plants (9.4 %). 
4.40.  Argentina does not have any multilateral agreements on tariff quotas, but it does apply a 
small number of preferential tariff quotas to agricultural products in the context of regional trade 
agreements. For example, Argentina grants Colom bia a 100 % tariff preference on chewing gum, 
chocolates, chocolate and some cocoa products under Economic Complementarity Agreement (ECA) 
No. 59, and a 100 % tariff preference on tuna under ECA No. 62.  
4.41.  Export duty is levied on agricultural products and curr ent rates range from 5 % to 33 % 
(Table  4.3). Decree No. 464/2019 of 10 July 2019 made changes to the export duty rates on natural 
honey, fruits and vegetables, certain cereals and oil seeds, and woods, listed in HS Chapters 4, 8, 
10, 12 and 44, respectively . Meanwhile, Decree No. 37/2019 of 14 December 2019 introduced a 9 % 
duty on certain products included in HS Chapters 1, 2, 3, 4, 5, 7, 10, 11, 15, 20, 44, 47, 51 and 52. 
Lastly, Decree No. 230/2020 of 4 March 2020 increased the export duty rates to 5 %, 7%, 9%, 27%, 
28%, 30% and 33 % for 558 tariff headings at the eight -digit level (611, if part headings are 
 
38 Law N o. 23.843 of 12 October 1990 creating the CFA.  
39 Information from MAGyP. Viewed at: 
https://www.magyp.gob.ar/sitio/areas/cfa/normativa_estructura/ . 
40 INTA, Presentación . Viewed at: https://www.argentina.gob.ar/sites/default/files/inta -
presentacion.pdf . WT/TPR/S/412 • Argentina  
 
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 included) in HS Chapters 1, 2, 3, 5, 7, 10, 11, 12, 15, 20, 23, 38, 44 and 51.  The Public Emergency 
Law established that taxation on soya exports may not  exceed 33 %. 
Table 4.3 Rates of export duty on the main agricultural products and by -products, 
January 2021  
NCM NCM 
HS2017  Designation  Export duty  
1001.10.90  1001.19.00  Durum wheat, except for sowing  12 
1001.90.90  1001.99.00  Wheat, other, except for sowing  12 
1005.90.10  1005.90.10  Maize (corn), other, grainsa 12  
1005.90.10  Exclusively put up in immediate packings of up to 2 kg  5  
1005.90.10  Exclusively popcorn put up in another way or in bulk  5  
1005.90.10  Exclusively flint corn put up in another way or in bulk  7 
1005.90.90  1005.90.90  Maize (corn), other, except grains  12 
1101.00.10  1101.00.10  Wheat flour  7 
1201.00.90  1201.90.00  Soya beans, except for sowing  33 
1206.00.90  1206.00.90  Sunflower seeds, except for sowingb, c 12  
1206.00.90  Hulled, in immediate packings with net contents of 2 kg or less  5  
1206.00.90  Hulled, other  0  
1206.00.90  Confectionery -type, in immediate packings with net contents of 2 kg or less  5  
1206.00.90  Confectionery -type, other  0  
1206.00.90  Other, in bulk  7  
1206.00.90  Other, in packings with net contents of 2 kg or less  5  
1206.00.90  Other, with more than 15% bagged  7 
1208.10.00  1208.10.00  Soyabean flours and meals  31 
1507.10.00  1507.10.00  Soyabean oil, crude  31 
1507.90.11  1507.90.11  Refined soyabean oil, in packing  25 
1507.90.19  1507.90.19  Refined soyabean oil, in bulk  30 
1507.90.90  1507.90.90  Soyabean oil, other  31 
1512.11.10  1512.11.10  Sunflower -seed oil  7 
1512.19.11  1512.19.11  Sunflower - or safflower -seed oil, refined, in packing  4.5 
1512.19.19  1512.19.19  Sunflower - or safflower -seed oil, refined, other  5 
1517.90.10  1517.90.10  Mixtures of refined oils, in packingd 25 
1517.90.90  1517.90.90  Mixtures, food preparations and other products containing soyabean oile 31  
1517.90.90  Mixtures and preparations of vegetable origin containing soyabean oil  31  
1518.00.90  Inedible mixtures or preparations of vegetable origin contai ning soya  31 
1901.20.00  1901.20.00  Mixes and doughs for the preparation of bakers' waresf 4.5 
1901.90.90  1901.90.90  Other flour - or starch -based mixtures of preparations  4.5 
2302.50.00  2302.50.00  Of soya beans  31 
2304.00.10  2304.00.10  Soyabean meal and pellets  31 
2304.00.90  2304.00.90  Soyabean cake and expellers  31 
2306.30.10  2306.30.10  Sunflower -seed cake, flour, meal and pellets  5 
2306.30.90  2306.30.90  Sunflower -seed expellers  5 
2309.90.10  2309.90.10  Edible preparations containing soya beans for animals (bags of less than 50 
kg) 25 
2309.90.10  2309.90.10  Edible preparations containing soya beans for animals  26 
2309.90.10  2309.90.10  Edible preparations containing soya beans for animals, by -products  28 
2309.90.60  2309.90.60  Preparations containing soya beans, except in bags of less than 50 kg  25 
2309.90.90  2309.90.90  Preparations containing soya beans, except in bags of less than 50 kg  25 
2309.90.90  2309.90.90  Preparations containing soya beans, put up in another way  31 
3826.00.00  3826.00.00  Biodiesel and mixtures  29 
a Except popcorn, which is subject to 5 % export duty.  
b Except confectionery -type sunflower seeds, which are subject to 10 % export duty.  
c Except hulled sunflower seeds, which are subject to 5 % export duty.  
d Only mixtures that contain soyabean oil.  
e Except edible mixtures and preparations, and other products containing soyabean oil.  
f Except wheat -flour-based preparations (excluding dough in discs or other similar solid forms, and 
preparations  for making cakes, sponge cakes and similar baked goods, in packings with a net 
content of 1 kg or less), with additives and/or ingredients, which are subject to 18 % export duty.  
Source:  Ministry of the Economy and Public Finance . 
4.42.  In its most recent notifi cation to the WTO, covering the period from 1 December 2018 to 
30 November  2019, Argentina indicated that it did not grant any export subsidies for agricultural 
exports during that period.41 In 2019, in the context of Argentina's commitments regarding expo rt 
subsidies, the country also reported its exports for the marketing year from 1 December 2015 to 
30 November  2016, the marketing year from 1 December 2016 to 30 November 2017 and the 
marketing year from 1 December 2017 to 30 November 2018.42 
 
41 WTO document G/AG/N/ARG/46, of 7 December 2020.  
42 WTO documents G/AG/N /ARG/40, G/AG/N/ARG/41 and G/AG/N/ARG/42, all of 3 July 2019.  WT/TPR/S/412 • Argentina  
 
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 4.43.  During most of the period under consideration, a special registration requirement applied to 
the export and/or import of certain agricultural products. Exporters and importers of animals, plants, 
reproductive and/or propagation material, products, by -products and/or d erivatives of animal or 
plant origin or goods containing ingredients of animal and/or plant origin among their components 
had to be recorded in the relevant SENASA register. This register was abolished in 2019. In 2017, 
the requirement to register exports of the meat of bovine animals was abolished (ROE Red, see 
below), but a new temporary registration requirement was introduced in 2021.43 In May  2021, 
provision was made for suspension of the register and of exports of certain meat products for 
30 days.44 Exporters of wine and must have to be enrolled in the register of exporters of the 
National  Grape Growing and Wine Production Institute.  
4.44.  Argentina uses DJVEs to keep a register of exports of some agricultural products, with the 
goal of knowing in advance th e projected volume of the exports in question.45 This requirement 
applies, in particular, to exports of grains and oils, as set out in the annex to Law No.  21.453 of 
8 October  1976.46 This Law laid the foundations for the establishment of ROE Green, which was 
replaced in 2015 by the register of DJVEs fo r agricultural products. As stipulated in Law No.  21.453 
and the amendments thereto, export transactions involving any grains and derivatives and other 
agricultural products must be recorded by means of a sworn declaration.  
4.45.  The requirements for DJVEs to be  recorded were originally laid down in Joint Resolution 
No. 4/2015 of the Ministry of Agro -Industry, No. 7/2015 of the Ministry of the Treasury and 
No. 7/2015 of the Ministry of Public Finance and the Ministry of Production, which repealed National 
Office for the Control of Agricultural Trade (ONCCA) Resolution No. 543/2008. The requirements in 
force (July  2021) are contained in MAGyP Resolution No. 128/2019, Official Journal of 
15 November  2019, and the amendments thereto. MAGyP Resolution No. 128/2019 ext ended from 
180 to 360 days the deadline for making the shipments corresponding to the DJVEs, including an 
automatic extension of up to 30  days.  
4.46.  DJVEs for the products covered by Law No. 21.453 and the amendments thereto must state: 
(a) the deadline by which the goods will be shipped, which must be 30 calendar days for bulk 
products and 90 calendar days for products that are not exported in bulk or in containers; 
(b) exporter's details; (c) type of goods, including the tariff heading; (d) type of cargo; (e) sale 
volume in tonnes; (f) official f.o.b. price; (g) date of closure of sale; (h) buyer's details; (i) goods' 
destination country; (j) sale price; and (k) condition of sale (Incoterms). Since 2019, it has also 
been necessary to provide additional deta ils for products classified in the following MERCOSUR 
Common Nomenclature (NCM) tariff headings: 1001.99.00 (bread wheat), 1005.90.10 (maize, 
except popcorn), 1201.90.00 (soya beans), 1507.10.00 (soyabean oil), 1507.90.19 (refined 
soyabean oil), 1512.11.10  (sunflower oil), 1512.19.19 (refined sunflower oil), and 2304.00.10 
 
43 Joint Resolution No. 3/2021 of the Ministry of Productive Development and MAGyP of 29 April 2021 
established that exports of meat and derivatives must be reported and recorded, by means of a s worn 
declaration of meat exports (DJEC), in the single register of operators in the food processing chain (RUCA), for 
which MAGyP is responsible. The meat products of which exports require a DJEC are: the fresh, refrigerated or 
frozen meat of bovine animal s, swine, sheep or goats, horses and fowls of the species Gallus domesticus . The 
new register will remain in force for the duration of the public health emergency declared as a result of the 
COVID -19 pandemic. Viewed at: https://www.boletinoficial.gob.ar/detalleAviso/primera/243223/20210420 . 
44 MAGyP Resolution of 19 May 2021 provided for the suspension, for a period of 30 days as of 
20 May 2021, of the approval of DJEC ap plications relating to meat of bovine animal products for the following 
tariff headings: 0201.10.00, 0201.20.10, 0201.20.20, 0201.20.90, 0201.30.00, 0202.10.00, 0202.20.10, 
0202.20.20, 0202.20.90 and 0202.30.00. The reason is supply for the domestic market . 
45 Law No. 21.453 of 8 October 1976 and amendments thereto (amended by 90 pieces of legislation).  
46 The included products are: wheat, except for sowing (NCM 1001.0001); rye (1002.0001); barley 
(1003.0001); barley for brewing (1003.0003); oats (1004.0001);  maize (corn) (1005.0001); canary seed 
(1007.0001); kefir (1007.0005); millet (1007.0011); grain sorghum (1007.0013); clipped oats (1102.0303); 
soya beans (1201.0401); soyabean oil, in bulk and/or in packings of 10 kg (1507.01.00); cotton -seed oil 
(1507.02 00); groundnut oil, in bulk and/or in packings of 10 kg (1507.0300); olive oil, in bulk and/or in 
packings of 10 kg (1507.0402); sunflower -seed, in bulk and/or in packings of 10 kg (1507.0500); rape, colza 
or mustard oil (15.07.0600); linseed oil (1507.070 0); maize (corn) oil, in bulk and/or in packings of 10 kg 
(1507.1201); tung oil (1507.1202); grapeseed oil, in bulk and/or in packings of 10 kg (1507.1203); edible oils 
prepared for mixtures, blends, etc., in bulk and/or in packings of 10 kg (1507.1204); b ran of wheat 
(2302.0012); bran pellets (2302.0013); cakes, oil pomace and other residues from the extraction of vegetable 
oils, except lees (2304); oil cake (2304.01); expellers (2304.02); pellets (2304.03) and flours and foots 
(2304.04).  WT/TPR/S/412 • Argentina  
 
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 (soyabean flours, meals and pellets).47 The list given in Annex I to Law No. 21.453 was amended by 
Resolution No. 364 -E/2017 of 16 November 2017, which abolished the DJVEs for some produc ts, 
since they were deemed to be exported in small volumes (Table 4.4).48 
Table 4.4 Amendments to the lists of products for which a DJVE must be filed, 2015 -20 
Legislation (ministry)  Summary  
Joint Resolution No. 4/2015 (Agro -Industry), 
No. 7/2015 (Production), No. 7/2015 
(Treasury and Public Finance) of 28 December 
2015a Lays down the requirements for filing DJVEs and the 
products for which a DJVE is required.  
Joint Resolution No. 101/2016 (Production), 
No. 119/2016 (Treasury and Public Finance), 
No. 138/2016 (Agro -Industry) of 5 May 2016  Establishes that exporters may file DJVEs for: oats, barley, 
rye and wheat from the 2016 -17 harvest, whenever the 
f.o.b. values for these products are publ ished.  
Joint Resolution No. 1 -E/2016 (Agro -Industry, 
Treasury and Public Finance, Production) of 
26 September 2016  Establishes that exporters may file DJVEs for: maize, 
sorghum, sunflowers and soya and their by -products from 
the 2016 -17 harvest, whenever the f.o.b. values for these 
products are published.  
Joint Resolution No. 1 -E/2017 (Agro -Industry, 
Treasury and Public Finance, Production) of 
10 February 2017  Sets out the procedure for filing DJVEs and the products for 
which a DJVE is required.  
Resoluti on No. 364 -E/2017 (Agro -Industry) of 
16 November 2017  Abolishes the requirement for DJVEs for certain products 
exported in small volumes (rye, oats, millet, safflower, 
linseed oil, grapeseed oil, soyabean cake, soyabean 
expellers, linseed, colza and rapese ed). 
Resolution No. 128/2019 (Agriculture, 
Livestock and Fisheries) of 14 November 2019  Sets out the procedure for filing DJVEs; the products for 
which a DJVE must be filed (HS headings 0713, 1001, 
1003, 1005, 1006, 1007, 1008, 1101, 1107, 1201, 1202, 
1204, 1205, 1206, 1507, 1508, 1512, 1514, 2302, 2304, 
2305 and 2306); and the procedure for paying export 
duties for some products for which a DJVE must be filed.  
Resolution No. 196/2019 (Agriculture, 
Livestock and Fisheries) of 14 December 2019  Temporarily suspends the filing of DJVEs.  
Resolution No. 152/2020 (Agriculture, 
Livestock and Fisheries) of 17 July 2020  Sets out the products for which a DJVE must be filed and 
the procedure for paying duties for some products for 
which a DJVE must be filed.  
Joint Resolution No. 3/2021 of 29 April 2021 
by the Ministry of Productive Development 
and MAGyP  Establishes that exports of meat and derivatives must be 
recorded, by means of a sworn declaration of meat exports 
(DJEC), in the single register of operators in the food 
processing chain (RUCA), for which MAGyP is responsible. 
The meat products which require a DJEC are: the fresh, 
refrigerated or frozen meat of bovine animals, swine, sheep 
and goats, horses and fowls of the species Gallus 
domesticus . 
a Abrogated by Article 18 of Joint Resolution 1 -E/2017 by the Ministry of Agro -Industry, the Ministry of 
the Treasury and Public Finance and the Ministry of Production.  
Source:  WTO Secretariat, based on data provided by the authorities.  
4.47.  The operator must pay  90% of the export duties within five business days of the approval of 
the DJVE, failing which it will automatically be cancelled. The operator can apply for an extraordinary 
extension if it cannot complete the official application process for the shipping  permits for export 
within the DJVE validity period. Once the authorized volume has been shipped, the operator must 
submit the “shipping complete” declaration. The exporter may opt for the special scheme known as 
"DJVE -45", in which case the DJVE is valid for 45 days from the date of its filing. In this case, export 
duties must be paid when the official process is completed. In the case of bread wheat and 
 
47 MAGyP Resolutio n No. 128/2019. These additional details are: (a) the reference market price 
converted into USD per tonne, in accordance with the agreed shipping deadline, stating the reference market 
and corresponding heading; (b) the premium or spread above, equal to or  below the reference market price 
converted into USD per tonne; (c) the sale price: the reference market price plus the premium converted into 
USD per tonne; and (d) the means of payment.  
48 These products are: rye, in bulk or in bags; oats, in bulk or in b ags; clipped oats, in bulk or in bags; 
pearl millet, in bulk or in bags; safflower, in bulk or in bags; linseed oil, in bulk or in bags; other linseed 
products; rapeseed or soyabean cakes; and soyabean cakes and expellers. Resolution No. 364.E/2017 of 
16 November 2017. Viewed at: 
http://servicios.infoleg.gob.ar/infolegInternet/anexos/290000.294999/291508/norma.htm . WT/TPR/S/412 • Argentina  
 
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 low-protein bread wheat, the DJVE is valid for 45 -90 days. Exporters are deemed to have complied 
with D JVEs once at least 90 % and up to 5 % above the declared volume or weight has been exported.  
4.48.  In 2018, the DJVE requirement for grains and oil seeds and their by -products was suspended, 
at first temporarily49 and, subsequently, until further notice.50 In 2019 , this requirement was also 
abolished for exports of organic products, as defined by Law No. 25.127 on ecological or organic 
production.51 However, Resolution No. 128/2019, Official Journal of 15 November 2019, confirmed 
the compulsory nature of the DJVE r equirement for a list of specific products, at a level more detailed 
than the eight -digit tariff sub -headings. MAGyP Resolution No. 152/2020 of 17 July 2020 amended 
and updated this list (Table 4.5).  
Table 4.5 Agricultural products for which a DJVE must be filed, by eight -digit NCM 
sub-heading, MAGyP Resolution No. 152/2020  
NCM Description  NCM Description  
0713.10.90  Whole and split peas (green and yellow)  1204.00.90  Linseed  
0713.20.90  Whole chickpeas  1205.90.90  Rape or colza seeds  
0713.33.19  Black kidney beans, in packings of a content in 
excess of 20 kg  1206.00.90  Sunflower seeds. Only for industry, 
other  
0713.33.29  White kidney beans, in packings of a content in 
excess of 20 kg  1507.10.00  Soyabean oil, in bulk  
0713.33.99  Red kidney beans, in packings of a content in 
excess of 20 kg  1507.90.19  Soyabean oil, other  
0713.39.90  Lima beans, in packings of a content in excess of 
20 kg  1508.10.00  Groundnut oil, in bulk  
0713.40.90  Lentils, other  1508.90.00  Groundnut oil, other  
1001.19.00  Durum and Taganrog wheat, other  1512.11.10  Sunflower oil, in bulk  
1001.99.00  Bread wheat, more than 15% bagged  1512.19.19  Sunflower oil, other  
1003.90.10  Barley for brewing  1512.21.00  Cotton -seed oil, in bulk 
1003.90.80  Barley grains  1512.29.90  Cotton -seed oil, other  
1005.90.10  Maize (corn), other, grains  1514.91.00  Rape, colza or mustard oil, in bulk  
1005.90.10  Popcorn or flint corn  1514.99.10  Rape, colza or mustard oil, other  
1006.10.92  Rice in the husk (paddy or rough). Not parboiled  1515.21.00  Maize (corn) oil, in bulk  
1006.20.20  Husked (brown) rice, other. Not parboiled  1515.29.90  Maize (corn) oil, other  
1006.30.21  Semi-milled or wholly milled rice, whether or not 
polished or glazed, not parboiled  2302.30.10  Bran of wheat  
1006.30.29  Semi-milled or wholly milled rice, whether or not 
polished or glazed, other, not parboiled  2302.30.90  Bran of wheat in pellets, in bulk, with up 
to 10% bagged  
1006.40.00  Broken rice, in half and quarter grains  2304.00.10  Soyabean flour, meal and pellets  
1007.90.00  Grain sorghum, other  2304.00.90  Soyabean flour, meal and pellets, other  
1008.30.90  Canary seed, other  2305.00.00  Oil-cake, expellers and pellets from the 
extraction of groundnut oil  
1101.00.10  Wheat flour  2306.10.00  Oil-cake, expellers and pellets from the 
extraction of vegetable fats or oils of 
cotton seeds  
1107.10.10  Malt of barley  2306.30.10  Oil-cake, expellers and pellets from the 
extraction of vegetable fats or oils of 
sunflower seeds:  
1201.90.00  Soya beans, other  2306.30.90  Oil-cake, expellers and pellets from the 
extraction of vegetable fats or oils of 
sunflower seeds:  
1202.42.00  Groundnuts  5201.00.20  Cotton, not carded or combed, not 
further prepared than ginned  
Note: Within a single tariff sub -heading, there may be several product specifications, listed in Annexes I 
and II of MAGyP Resolution No. 152/2020. For each one of those, a separate DJVE is required.  
Source:  MAGyP Resolution No. 151/2020, Official Journal of  21 July 2020. Viewed at: 
http://servicios.infoleg.gob.ar/infolegInternet/anexos/340000 -344999/340099/norma.htm . 
4.49.  In December 2020, Argentina temporarily suspended issuance of DJVEs for all types of maize, 
except popcorn, that had been shipped before 1 March 2021. The purpose of the suspension was to 
secure domestic supply during the summer months, when maize supply tends to run low. 
In January  2021, this measure was provisionally abolished, but it was decided to continue monitoring 
maize exports to secure domestic supply. To that end, an export cap is set and that cap is taken 
 
49 Resolution No. 249/2018 of 13 August 2018.  
50 Resolution No. 290/2018 of 31 August 2018.  
51 Article 21 of MAGyP Resolution No. 128/2019, Official Journal of 15 November 2019.  WT/TPR/S/412 • Argentina  
 
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 into consideration when exports are approved. For example, 2019 -20 ma ize DJVEs cannot exceed 
30,000 tonnes per day.52 
4.50.  Joint Resolution No. 69/2016 of the Ministry of Agro -Industry, No. 101/2016 of the Ministry 
of the Treasury and Public Finance, and No. 84/2016 of the Ministry of Production repealed 
Resolution No. 6.686/200 9 establishing the compulsory register for the import and export of certain 
dairy products (ROE White). The Joint Resolution made it compulsory to submit a sworn declaration 
of foreign sales of dairy products (DJVEL) for exports of the dairy products liste d in Annex I thereto. 
Resolution No. 225 -E/2017 of 24 August 2017 abolished the DJVEL.  
4.1.2.8   Internal measures  
4.51.  According to Argentina's latest notification to the WTO, submitted in September 2019 and 
covering the 2014 -15 (1 December to 30 November), 2015 -16 and 2016-17 seasons, domestic 
support for research, pest and disease control, training services, extension and advisory services, 
inspection services, and infrastructure services was granted to the Special Tobacco Fund (FET) and 
to the Federal Support Programm e for Sustainable Rural Development (PROFEDER).53 All these 
green box measures amounted to ARS 883.1 million (at the 1992 value) in the period 
1 December  2016 to 30 November 2017. The aggregate measurement of support (AMS) for specific 
products, greater th an the de minimis  value (granted to tobacco only), was as high as 
ARS 72.5 million (1992 value) between 1 December 2016 and 30 November 2017, compared with 
a commitment of ARS 75 million (1992 value).  Although support was granted to other specific 
products , it was always at below the de minimis  value. In the 2016 -17 season, support was granted 
at below the de minimis  value to: cotton, rice, the meat of bovine animals, sheep, goats and swine, 
citrus fruits, sunflowers, dairy, maize, apples, olives, potatoes, pears, soya, wheat, wine and herbs. 
The AMS not relating to specific products in 2016 -17 was ARS 45.9 million (1 992 value), all 
channelled through the National Agro -Industrial Trust Fund (FONDAGRO).  
4.52.  Agricultural products must be recorded in the national sanitary register of agricultural 
producers (RENSPA) of the National Agricultural and Food Quality and Health Serv ice (SENASA) in 
accordance with SENASA Resolution No. 249 of 23 June 2003. SENASA Resolution No. 423 of 
22 September  2014 contains the RENSPA regulations and establishes that RENSPA enrolment is 
compulsory for all livestock farmers and all agricultural pro ducers of fruits, vegetables and 
propagation material; ornamental, aromatic, floral, industrial and forestry plants; and oil seeds, 
cereals and other unspecified seeds.54 SENASA Resolution No. 445 of 22 May 2015 contains the 
RENSPA procedural manual.55 
4.53.  MAGyP Resolution No. 302 of 15 May 2012 established the single register of operators in the 
food processing chain (RUCA), for which SAGyP is responsible. Any natural and/or legal persons 
involved in trading and/or processing within the agri -food value chains for the following markets 
must be enrolled in RUCA: dairy and its products, by -products and/or derivatives; grains and cotton, 
their products, by -products and/or derivatives; live or slaughtered bovine animals, sheep, swine, 
poultry, horses or goats, their  products, by -products and/or derivatives; and fruit intended to be 
consumed fresh, dried and/or processed. RUCA registration is valid for one year, except in the case 
of the categories “expert cereal, oilseed and pulse classifier”, and “beef and pork cate gorizer”, which 
are valid for two years, renewable for the same period. For the “agricultural producer” category, 
registration does not expire, provided that the information in RENSPA is kept up to date. SAGyP 
Resolution No. 376/2015, Official Journal of 2 4 September 2015, includes wholesale markets in 
RUCA, along with establishments that store, package, freeze, process and export fruit. Ministry of 
Agro-Industry Resolution No. E 21/2017 of 23 February 2017 incorporated the wool sector into 
 
52 MAGyP. Viewed at: 
https://www.magyp.gob.ar/sitio/areas/prensa/index.php?accion=noticia&id_info=210110234753 ; 
https://www.magyp.gob.ar/sitio/areas/prensa/index.php?accion=noticia&id_info=201230140611 ; and 
Resolution No. 287 of 30 December 2020.  
53 WTO documents G /AG/N/ARG/43, G/AG/N/ARG/44 and G/AG/N/ARG/45, all of 4 September 2019.  
54 SENASA Resolution No. 423/2014 can be viewed at: 
http://www.senasa.gob.ar/normativas/resolucion -423-2014-senasa -servicio -nacional -de-sanidad -y-calidad -
agroalimentaria?_ga=2.71309971.1214590893.1534859462 -1990775388.1395237760 . 
55 Information from  SENASA. Viewed at: 
http://www.senasa.gob.ar/sites/default/files/ARBOL_SENASA/INFORMACION/NORMATIVA/res_445 -
2015_1.pdf . WT/TPR/S/412 • Argentina  
 
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 RUCA, along with  the fruit and vegetable, and sugar sectors.56 On 15 April 2021, MAGyP Resolution 
No. 60/2021 was published, which added new requirements to the RUCA enrolment regulations; 
these requirements must be met by those interested in exporting dairy products who do not own an 
establishment already recorded in RUCA.57 
4.54.  AFIP Resolution No. 3.593 of 18 February 2014 established a systematic registration scheme 
for grain transfers and stocks, which applies to any RUCA -enrolled operators trading in grain. It 
encompasses  products including cereals and oil seeds not for sowing, and dried pulses (beans, peas 
and lentils). The registration scheme entails: (a) the declaration of grain stocks at the time when 
the scheme came into force; (b) transfers or movements of grain to o r from each authorized plant; 
and (c) any change to the existing record.  
4.55.  The National Agro -Industrial Trust Fund (FONDAGRO), created under the control of MAGyP by 
Article 72 of Law No. 27.341, Official Journal of 21 December 2016, is an administrative and financial 
trust. It was created with the objectives of stimulating, fostering and developing the agro -industrial 
sector; promoting healthy, high -quality plants, animals and food; encouraging territorial 
development and family farming; fostering pure and ap plied research on agricultural and fisheries 
and the related extension; and promoting regional and/or provincial production. FONDAGRO's trustor 
is the Ministry of Agriculture, Livestock and Fisheries, and its trustee is BICE Fideicomisos 
S.A. FONDAGRO comp rises funding drawn from National Treasury budget headings, from donations 
and from contributions made by provincial, national and international bodies. During the 2020 fiscal 
year, FONDAGRO received a total of ARS 760 million from National Treasury budget  headings. 
ARS 18.6 million in non -repayable contributions (ANRs) was disbursed. The budget headings under 
which the programme operated until 2020 were “direct Loans at below -market interest rates” and 
“non-repayable contributions to projects or institutio ns”. 
4.56.  MAGyP Resolution No. 20 -E/2017, Official Journal of 14 February 2017, created the 
FONDAGRO Coordination Unit, for which MAGyP is responsible. The Unit's functions currently include 
centralizing the relationship between the MAGyP authorities and the tr ustee; taking the measures 
entrusted to it by the FONDAGRO Executive Committee; evaluating applications to draw on 
FONDAGRO; and elevating projects to the Executive Committee for its approval.58 FONDAGRO may 
issue debt securities, with or without a public offering to raise funds from private savings and/or the 
public purse, and may take part in public -private partnership (PPP) consortia as a contracting party. 
Beneficiaries of FONDAGRO include natural persons, public or private legal persons, agro -industria l 
MSMEs, joint inheritances, trust funds, state -owned entities and any others chosen by the Executive 
Committee. There is a five -year deadline for implementing projects approved and funded by 
FONDAGRO. The Executive Committee may extend this period on duly  justified grounds.  
4.57.  For tobacco producers, Argentina operates a system of minimum prices financed by FET, 
created by the National Tobacco Law: Law No. 19.800 of 23 August 1972. FET is chiefly financed by 
a 7% levy on the total price of each packet of cigar ettes sold to the public. Of the funding raised in 
this way, 80 % is distributed among the provinces, in proportion to the gross value of each province's 
output. The remaining 20 % is used to fund specific projects aimed at the restructuring, 
diversification  and modernization of tobacco production. There is an additional 1 % levy charged on 
the price of each packet of cigarettes sold to the public, which the manufacturers should use to pay 
the percentage of the price that normally goes on marketing. Moreover, there is a further 0.035 % 
levy on the price of a packet of cigarettes; the funds raised are used for the social work of the 
industry's unions.59 A fixed charge of ARS 0.071 per packet of 20 cigarettes sold was also 
established; this has been increased by t he same amount again since 2009. MAGyP sets the FET 
 
56 Resolution 21E/2017 . Viewed at: 
https://www.boletinoficial.gob.ar/detalleAviso/primera/159417/20170224 ; and RUCA paperwork. Information 
viewed at: https://ruca.magyp.gob.ar/ . 
57 Resolution No. 60/2021 of 15 April 2021. Viewed at: 
https://www.boletinoficial.gob.ar/detalleAviso/primera/243139/20210419 . 
58 In accordan ce with MAGyP Resolution No. 23/2020, Official Journal of 28 February 2020, the 
FONDAGRO Executive Committee is chaired by the Minister of Agriculture, Livestock and Fisheries, and also 
includes the head of the MAGyP Ministerial Advice Unit, the MAGyP secr etaries of state, the MAGyP 
Under -Secretary for Agricultural Markets and the MAGyP Under -Secretary for Administrative Management.  
59 SAGyP Resolution No. 22/2019 of 13 February 2019 established that 41 % of the funds should be 
allocated to the Tobacco Indust ry Staff Social Welfare Organization (OSPIT), 31 % should be allocated to the 
Rural Workers and Stevedores Social Welfare Organization (OSPRERA), and 28 % to the Tobacco Industry 
Employees Social Welfare Organization (OSETRA).  WT/TPR/S/412 • Argentina  
 
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 price for the various tobacco varieties, taking into consideration the volume of production, sales and 
WTO commitments. In order to be eligible, producers must be enrolled annually in the national 
registe r of tobacco producers. The WTO has been notified of the support to producers through FET. 
As set out in the most recent notification, for the period between 1  December  2016 and 
30 November  2017, the payment per unit was ARS 0.62 (1992 value) per kilogram,  for a total of 
117,154,000 kilograms.60 
4.58.  MAGyP operates the interest rate subsidy programme for loans to small -scale agricultural 
producers, which is implemented by means of discount agreements with banks - such as the National 
Bank of Argentina (BNA), the  Bank of the Province of Buenos Aires (BAPRO), Banco Entre Ríos, S.A., 
Nuevo Banco de Santa Fe, S.A., Bank of the Province of Córdoba (BPC) and Banco de La Pampa - 
within the framework established by Decree No. 1.023/2001, Decree No. 1.030/2016 and 
supplem entary legislation. By means of this mechanism, the bank makes financing available and 
MAGyP contributes the agreed interest -rate subsidy. The current lines of credit are intended, in 
particular, to finance investments and working capital for production of  dairy, of the meat of bovine 
animals, swine and poultry and of honey. Argentina has been reporting this to the WTO as "Other 
product -specific budgetary outlays" and, in all cases, the amounts were below the de minimis  values. 
In the notification correspon ding to the period 1 December 2016 to 30 November 2017, the following 
products were included as beneficiaries of the interest rate subsidy programme for loans to small -
scale agricultural producers: the meat of bovine animals, swine, sheep and goats, dairy,  wheat, 
pears, apples, cotton, wine, citrus fruits, rice, herbs, olives, potatoes, maize, sunflowers and soya.61 
4.59.  A large proportion of the loans at subsidized interest rates are channelled through the BNA 
and are intended to finance working capital, invest ment and the purchase of capital goods.62 In 
addition to the subsidy from MAGyP, which can be as much as six percentage points per annum, 
beneficiaries of some programmes also receive a discount from the BNA if they are signed up to the 
Nación Campo  packag e, which consists of a series of services for the sector.63 As at May 2020, the 
subsidized rates ranged from 27 % to 32%. Table 4.6 sets out some of the main programmes aimed 
at the agricultural sector.  
Table 4.6 Special BNA lines of credit for the agricultural sector, 2021  
Programme/user  Beneficiary  Conditions  
A. Carlos Pellegrini Line of Credit: Special conditions for the agricultural sector  
MSME producers.  Wide range of agricultural activities.  Currency: ARS and USD. Term: up to 10 years.  
 Stockbreeding sector . Funding: up to 100%. The beneficiary must sign up for the Nación Campo  package  
Livestock farmers  Broad -scope investments  Term: up to the maximum provided for in the regulations, with a 
grace period of up to 12 months for repayment of the principal.  
 Retention of breeding females 
(produced in the establishment itself).  Term: up to seven years, with a grace period of up to 36 months 
for repayment of the principa l. 
 Backgrounding and/or purchase of 
breeding males and/or permanent 
pasture  Term: up to the maximum provided for in the regulations, with a 
grace period of up to 24 months for repayment of the principal.  
 Production of fodder: silos, rolls, mega -
bales Term: up to one year; full repayment of the principal and 
interest on maturity.  
 Dairy sector . Funding: up to 100%. The beneficiary must sign up for the Nación Campo  package.  
Dairy farmers and 
dairy MSMEs.  Broad -scope investments.  Term: up to the maximum provided for in law, with a grace 
period of up to 24 months for repayment of the principal.  
 Retention of breeding females  Term: up to seven years, with a grace period of up to 36 months 
for repayment of the principal.  
 Backgrounding and/or purchase of 
breeding males and/or permanent 
pasture  Term: up to seven years, with a grace period of up to 24 months 
for repayment of the principal.  
 Working capital  Term: up to three years, with a grace period of up to 12 months 
for repayment of the principal.  
 Olives and nuts sector  
MSMEs and/or agro -
industrial companies  Broad -scope investments  Term: up to the maximum provided for in the regulations, with a 
grace period of up to 60 months for repayment of the principal. 
The beneficiary must sign up for the Nación Campo  package  
 Fruit sector  
 
60 WTO document G/AG/N/ARG/45, o f 4 September 2019.  
61 WTO document G/AG/N/ARG/45, of 4 September 2019.  
62 Online information from the BNA " Líneas de crédito para el sector agropecuario " (Credit lines for the 
agricultural sector). Viewed at: http://www.bna.com.ar/agro/ag_creditos.asp . 
63 The Nación Campo  account is aimed at legal persons, agricultural producers or agricultural service 
providers located in Argentine territory. There is a 100 % discount on the account maintenance fee. Information 
from the BNA. Viewed at: https://www.bna.com.ar/Empresas/Pymes/CuentaNacionCampo . WT/TPR/S/412 • Argentina  
 
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 Programme/user  Beneficiary  Conditions  
Fruit sector producers  Broad -scope investments  Term: u p to the maximum provided for in the regulations, with a 
grace period of up to 48 months for repayment of the principal. 
The beneficiary must sign up for the Nación Campo  package.  
 Wine sector  
Wine sector producers  Broad -scope investments  Term: up to the maximum provided for in the regulations, with a 
grace period of up to 40 months for repayment of the principal. 
The beneficiary must sign up for the Nación Campo  package.  
 Swine and sheep sector  
Companies dedicated 
to swine and sheep 
production  Broad -scope investments in the swine 
and sheep sector  Term: up to the maximum provided for in the regulations, with a 
grace period of up to 24 months for repayment of the principal. 
The beneficiary must sign up for the Nación Campo  package.  
 Purchase of breeding males  Term: up to five years, with a grace period of up to 18 months 
for repayment of the principal. The beneficiary must sign up for 
the Nación Campo  package  
 Forestry sector  
Forestry sector 
producers  Broad -scope investments  Term: up to the maximum provided for in the regulations, with a 
grace period of up to 60 months for repayment of the principal. 
The beneficiary must sign up for the Nación Campo  package  
B. Carlos Pellegrini Line of Credit: special conditions f or the dairy sector  
Dairy MSMEs enrolled 
in the integrated 
system for Argentine 
dairy management 
(SIGLeA)  Broad -scope replenishment of working 
capital.  
 
 Line of credit for producers enrolled in SIGLeA. Special 
conditions for the replenishment of dairy producers' working 
capital.  
Maximum amount: USD 5 million. Term: up to five years.  
C. Carlos Pellegrini Line of Credit: special conditions for the purchase of agro -industrial machinery  
MSMEs in the agro -
industrial sector.  Acquisiti on of agricultural and industrial 
machinery, capital goods, trailers, etc. 
manufactured in Argentina.  Currency: ARS and USD. Term: up to five years.  
Requirement: to have signed up to the BNA's comprehensive 
package  
Interest -rate discount  
D. Agricultural exports growth  
Companies in the 
agricultural sector.  Costs of growing agricultural activities.  Line of credit maturing after 10 years.  
Term: up to 180 days for each disbursement.  
E. Current account overdraft  
Companies in the 
sector.  Overdraft without collateral for a term 
of up to 180 days for companies in the 
sector.  Mortgage -backed for up to seven years (provides for annual 
instalments).  
F. Discounting of post -dated cheques  
Natural and legal 
persons in the sector.  Discounting of post -dated cheques 
issued in accordance with Laws Nos. 
24.452 and 24.760  Term: up to 90 days.  
Customers signed up for the Nación Campo  package will enjoy a 
discount on interest rates and charges.  
Source:  Information from BNA Agribusiness. C redit. Viewed at: 
https://www.bna.com.ar/Empresas/AgroNegocios/Creditos . 
4.60.  In May 2020, as part of the support measures for farmers affected by the pandemic, the BNA 
approved the decision to maintain its policy of loan assistance to agricultural production sectors and 
announced that it was complying with the resolution of the Central Bank of Argentina (BCRA) 
establishing that any farmers who hold a stockpile of less than 5 % of their annual wheat and/or 
soyabean harvest capacity may access the promotional rate of 24 % (compared with other 
promotional rates of 27 -32%). The BNA also announced that it would put in place a new line of credit 
at variable interest rates for investment to facilitate marketing of stored output. The BNA announced 
that various loan options remain available, aimed at the agricultural/livestock sector, both for 
purchasing machinery and for financing productive investments.64 In February 2021, a new 
ARS 500 million line of credit was introduced for family farmers, with a subsidized interest rate and 
additional benefits for microenterprises enrolled in the national register of family agriculture 
(RENAF), with an interest rate o f 21% (a subsidy of seven percentage points from FONDAGRO), with 
a further two -point discount - provided by the BNA - for farms headed by women. The maximum 
amount of funding available is ARS 100,000. The loan has a term of 36 months and is 75 % 
guaranteed by the Argentine Guarantees Fund (FOGAR).65 
4.61.  BAPRO is also offering loans to the agricultural sector at subsidized interest rates. Some of 
these loans include: the Préstamo con destino a Siembra  (loan for seeds), for fine -grained crops, 
such as wheat and ry e, and coarse -grained crops, such as maize, sunflowers and soya, with the 
maximum amount calculated on the basis of whether it is going on goods for the farmer or on 
contractors, and on whether or not fertilizer is being used; the Préstamo para Lechería  (loan for 
 
64 BNA, El Banco Nación continuará con las líneas de Asistencia al Sector Agropecuario . BNA press 
release of 15 May 2020. Viewed at: https://www.bna.com.ar/BackOffice/institucional/prensadoc/959_a.pdf . 
65 BNA, Nueva línea de créditos por ARS 500 millones para agricultores familiares, con tasa subsidiada y 
beneficios adicionales para emp resas lideradas por mujeres . BNA press release of 18 February 2021. Viewed 
at: https://www.bna.com.ar/BackOffice/institucional/prensadoc/1036_a.pdf . WT/TPR/S/412 • Argentina  
 
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 dairy), aimed at dairy farmers and SMEs, for investment or working capital, of up to ARS  5 million; 
Préstamos para Ganados y Carnes  (loans for cattle and meat), aimed at farmers of bovine animals, 
swine, poultry (including eggs) and other livestock  bred for meat, for investment, or for increasing 
or replenishing working capital, with a maximum that depends on the borrower's credit rating; and 
Préstamos para Capital de Trabajo  (loans for working capital), for farmers, companies providing 
directly rel ated services and agro -industrial firms, with conditions depending on credit rating.66 
4.62.  Every year, MAGyP, through DIPROSE, runs a series of programmes to facilitate, fund and 
promote agricultural activity, and innovation and development in production. Exam ples include: the 
forestry sustainability and competitiveness programme (SyCF); the provincial agricultural services 
programme (PROSAP); the programme for socio -economic inclusion in rural areas (PISEAR); the 
programme for the economic inclusion of family farmers in northern Argentina (PROCANOR); and 
the comprehensive risk -management programme for the rural agro -industrial system (GIRSAR). 
Other units reporting to MAGyP also run programmes, such as: Abriendo Mercados  (opening up 
markets); Cambio Rural  (rural change); Sumar Valor  (add value); the national programme 
promoting official certifications of quality in Argentine foods; the national programme for rural land 
ownership and permanent settlement (PRONTAR); the programme to improve wool quality 
(PROLANA); the goat value chain development programme (PRODECCA); the national irrigation plan 
(PNR); the assistance programme to improve cotton fibre quality (PROCALGODÓN); the project for 
the promotion of biomass -derived energy (PROBIOMASA); the “Argentine W ine: the National Drink” 
programme; the inter -laboratory programme for agricultural soils (PROINSA); and the cultural 
heritage restoration and conservation programme.67 
4.63.  One of the most significant programmes in the DIPROSE portfolio is PROSAP. It is a fede ral 
programme that implements public investment projects at the provincial and national levels, in order 
to increase the coverage and quality of rural infrastructure and agri -food services, to develop the 
regional economies and to contribute to enhancing t he competitiveness of the agro -industrial sector. 
PROSAP runs projects that facilitate adjustment of agricultural production to market requirements 
and that foster increased value added in the sector's production chains. PROSAP also funds initiatives 
that promote competitiveness in small and medium -sized farmers and in agro -industrial MSMEs, and 
that improve quality and access to new markets, with a focus on increased climate change 
resilience.68 
4.64.  PROSAP is used to fund projects through direct public investm ent, joint public -private 
investment, and initiatives to enhance competitiveness. The public investment projects funded by 
PROSAP are focused on the following areas: irrigation, drainage and water -resource management; 
production infrastructure; animal and plant health; strengthening of institutions; information 
systems; allocation of land titles and regularization of land; and commercial development, one 
example of which is the national programme for added value in agri -food production (PROCAL).69 To 
fund p ublic investment projects through PROSAP, provinces must have a provincial strategy for the 
agri-food sector (EPSA), of which the proposed investment policies, programmes and projects must 
form part. Moreover, they must have an indebtedness law in force, d emonstrate that they have the 
resources to act as counterparty for each project to be implemented, and have assented to the 
federal tax revenue sharing regime.70 PROSAP provides non -repayable contributions (ANRs) through 
joint public -private investments. T he beneficiaries are MSME primary producers seeking to integrate 
themselves into value chains. Competitiveness enhancement initiatives foster closer links between 
the productive sector, the public sector and science and technology institutions; channelled into the 
development of clusters and micro -regions and of innovation transfer, they can be up to 60 % 
financed with ANRs.  
4.65.  The source of the funding available through PROSAP is loans from the Inter -American 
Development Bank (IDB) and the Development Bank of Latin America (CAF). As of May 2021, this 
funding amounts to USD 140 million, of which USD 100 million comes from the IDB and 
USD 40 million comes from CAF. Local contributions (from the private sector, and from the national 
and provincial governments) tot al USD 49 million. With regard to the currently finalized loans, paid 
 
66 BAPRO, Agricultural Banking, Condiciones de las líneas de créditos , April 2020. Viewed at: 
https://www.bancoprovincia.com.ar/CDN/Get/A5388_Banca_Agro_tasas_costos_cond iciones_vigentes . 
67 Information from MAGyP. Viewed at: https://www.argentina.gob.ar/agricultura/programas . 
68 Information from PROSAP. Viewed at: https://www.argentina.gob.ar/agricultura/programas . 
69 Information from PROSAP. Viewed at: https://www.argentina.gob.ar/agricultura/programas . 
70 Law No. 23.548 of 7 January 1988.  WT/TPR/S/412 • Argentina  
 
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 out between 1997 and the first quarter of 2021, PROSAP was funded through loans from the IDB, 
the International Bank for Reconstruction and Development (IBRD), CAF and the Financial Fund  for 
the Development of the Countries of the River Plate Basin (FONPLATA), totalling 
USD 1,702.7  million, with USD  462.7 million coming from local contributions.  
4.66.  The inclusive rural development programme (PRODERI) - launched in 2012, ended in 
December 2019  and partially financed by the International Fund for Agricultural Development 
(IFAD)  - sought to create work opportunities for small -scale rural producers, and to improve their 
production conditions, in order to bring them into value chains.  PRODERI worke d within strategies 
set out by provincial governments and supported participative formulation of comprehensive 
production -development and market -access projects. When it was wound up in December 2019, 
PRODERI had run 445 projects in 17 provinces, costing a  total of USD 66.3 million.  
4.67.  The compensation scheme - in force until June 2017 and created by Ministry of the Economy 
and Production (MEP) Resolution No. 9/2007 of 11 January 2007 - established a system of subsidies 
for domestic consumers of certain produc ts derived from wheat, maize, sunflowers and soya. 
Compensation payments were made to manufacturers and operators selling in the domestic market; 
these equated to the difference between the market value of the product published by SAGyP and 
the domestic su pply prices calculated by the Ministry of the Economy. The scheme was subsequently 
extended to dairy products.71 The following activities were covered by the compensation scheme: 
dairy farming (ARS 0.20 per litre); Friesian calf breeding; dairy processing;  wheat -flour milling; 
wheat production; feed -lot operation; pig farming; poultry cold storage; and maize -flour milling. 
Decree No. 444/2017 of the former Ministry of Agro -Industry, Official Journal of 23 June 2017, ended 
the compensation scheme.  
4.68.  PISEAR was  launched in 2017, with the aim of promoting organizational capacity, improving 
output and developing productive partnerships for sustainable market access. The total funding for 
the project, which is planned to last until 2022, is USD 66.87 million. The f unding has come from 
the IBRD, from national and provincial contributions and, in part, from the beneficiaries; it is hoped 
that as many as 10,000 families will benefit from the programme. Created in 2017, PROCANOR 
seeks to integrate the productive activit ies of value chains, and promotes the development of 
comprehensive projects and the formation of clusters. The total funding for the project, which will 
last for five years, from March 2017 to March 2022, is EUR 22.91 million, financed by IFAD and by 
national and provincial contributions. There are 8,000 beneficiary families.72 
4.69.  In recent years, farmers in the dairy sector have benefited from a series of programmes. The 
dairy farmers programme,73 which was in force until 2016, granted ANRs to dairy farmers w ith 
average daily production of less than 12,000 litres; these initially amounted to ARS 0.10 per litre of 
milk for the first 3,000 litres produced per day. In response to falling prices, this subsidy was 
increased in 2015, initially to ARS 0.30 per litre,  then to ARS 0.40 per litre and, in December  2015, 
to ARS  0.50 per litre for the payment corresponding to February and March 2016; the benefit was 
also extended to all farmers for the first 3,000 litres per day of output.74 The national dairy 
programme was  introduced in 2010 and remains in force. It is intended to foster the activity of small 
and medium -sized farmers in the dairy value chain,75 to which end it grants: (a) loans at subsidized 
interest rates (through the BNA or other banks); (b) contributions  to an official guarantee fund, 
which gives small and medium -sized farmers access to credit; (c) funding for training; and (d) ANRs. 
Permitted uses for contributions from the programme include investing in equipment and 
construction; buying agricultural ma chinery; buying software; and upgrading infrastructure. As part 
of the national dairy programme, a system of quality -based bonuses was set up, known as the 
“system of payment for raw milk on the basis of make -up quality and hygiene/health attributes with 
a compulsory and universal single monthly payment system”.76 The price paid for the delivered milk 
was made up of at least 80 % weighting for make -up quality and hygiene/health attributes, with no 
 
71 MEP Resolution No. 61/2007 of 12 February 2007.  
72 DIPROSE (2019), Informe de Gestión , December 2019. Viewed at: 
https:/ /www.argentina.gob.ar/sites/default/files/informegestiondiprose -04-12-19_baja.pdf . 
73 Regulated by SAGyP Resolutions No. 169/2009 and No. 513/2009.  
74 SPM, Secretariat for Economic Policy, Ministry of the Treasury and Public Finance, Informe de 
Cadenas de Va lor, Láctea, diciembre de 2016 . Year 4. No. 41, December 2016. Viewed at: 
https://www.economia.gob.ar/peconomica/docs/Complejo_Lacteo.pdf . 
75 MAGyP Resolutions No. 297 of 26 Aug ust 2010 and No. 505/2010 of 12 November 2010.  
76 Joint Resolution MAGyP No. 739 and of the Ministry of the Economy and Public Finance No. 495 of 
10 August 2011.  WT/TPR/S/412 • Argentina  
 
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 more than 20 % awarded as other bonuses. In 2016, certain para meters ("reference milk") were set 
up for calculating the bonuses.77 
4.70.  In 2016, the integrated system for Argentine dairy management (SIGLeA) was introduced to 
modernize the exchange of information between those involved in the dairy value chain and national 
and provincial public bodies.78 Primary dealers purchasing raw milk must report the following through 
SIGLeA: (a) the raw milk payment classification system, which details the various levels of bonuses 
and penalties for make -up quality, and for hy giene/health and commercial attributes; (b) the prices 
per kilo of fat and protein; and (c) the estimated payment dates and methods. SIGLeA participation 
is a requirement of eligibility for the preferential loans offered by the BNA.79 
4.71.  Those engaged in anim al husbandry are eligible for general programmes, as well as species -
specific ones. One of the general programmes is the scheme to promote bovine cattle farming in 
arid and semi -arid areas, created by Law No. 27.066 of 10 December 2014. This Law also creat ed 
the fund to promote bovine cattle farming in arid and semi -arid areas, with ARS 100 million in annual 
funds for financing the farming of bovine animals in arid and semi -arid areas.  
4.72.  The federal programme to foster and develop buffalo farming was establis hed in 2015.80 Under 
it, people with business plans and investment projects in their name for the promotion and 
development of buffalo farming are eligible for the following benefits: (a) loans to cover the baseline 
studies for drawing up a business plan or investment p roject; (b) loans for the purchase of specimens 
and/or semen of breeds taken, preferably, from the breeding herds or experimental centres to be 
created at the provincial or regional level, from local producers, or from MERCOSUR member 
countries; and (c) su bsidies to cover professional fees relating to the drawing -up of a plan or project, 
the investments themselves and any training costs included in the plan or project. The scheme for 
the recovery, fostering and development of goat farming funds business pla ns or investment projects 
promoting goat farming. The benefits include: financial loans and/or grants for drawing up and 
implementing the plan or project; bank loans at subsidized interest rates; and funding and/or 
subsidies for social and organizational a dvice and development.81 In 2017, PRODECCA was launched, 
with a budget of USD 25,448,000, financed by IFAD, contributions from national and provincial 
governments, and from the beneficiaries. PRODECCA is in force until April 2023.82 The sheep farm 
recovery  scheme is intended to achieve the adaptation and modernization of sheep -farming 
systems; it is applied in provinces that have expressly signed up to it.83 Natural or legal persons 
involved in farming, rearing, providing services for, processing and market ing sheep and llamas who 
submit business plans and/or investment projects are eligible for the following benefits, among 
others: (a) financial loans and/or grants for implementing the plan or project; (b) full or partial 
funding for drawing up the business  plan or investment project; and (c) bank loans at subsidized 
interest rates. To finance the scheme, the sheep farm recovery fund (FRAO) was created, which 
draws on funding from the National Treasury and other contributions.84 
4.73.  In its notification to the WT O for the period from 1 December 2016 to 30  November  2017, 
Argentina included two National Agricultural Technology Institute (INTA) programmes: the basic 
research and technological innovation programme, for which it declared disbursements of 
ARS 44,319,133  (1992 value), and the applied research, innovation and technology transfer (IAITT) 
programme, for a total of ARS 250,386,720 (1992 value).85 PROFEDER, which had been operated 
by INTA, was discontinued in 2019.  
4.74.  The Cambio Rural  (rural change) programme was  created in 1993 and is in line with the 
targets of the 2010 -20 strategic agri -food and agro -industry plan (PEA). Its central objectives are 
persuading agri -food and agro -industrial MSMEs, the cooperative sector and family farms to innovate 
 
77 Article 9 of Resolution No. 229 -E/2016 of the former Ministry of Agro -Industry.  
78 Resolution No. 229 -E/2016 of the former Ministry of Agro -Industry of 28 October 2016.  
79 Information from MAGyP. Viewed at: 
https://www.magyp.gob.ar/sitio/areas/sigle a/_archivos/Que_es_el_SIGLeA.pdf . 
80 Law No. 27.076, Official Journal of 10 January 2015.  
81 Law No. 26.141, Official Journal of 21 September 2006.  
82 DIPROSE (2019), Informe de Gestión , December 2019. Viewed at: 
https://www.argentina.gob.ar/sites/default/files/informegestiondiprose -04-12-19_baja.pdf . 
83 Law No. 25.422, Official Journal of 4 May 2001, as amended by  Law No. 27.230, Official Journal of 
4 January 2016.  
84 Law No.  26.680, Official Journal of 31 May 2011.  
85 WTO document G/AG/N/ARG/45, of 4 September 2019.  WT/TPR/S/412 • Argentina  
 
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 and form partne rships for the creation and management of projects that will improve output and 
increase added value. Over time, the rural change programme's focus has been changing. Between 
2013 and 2016 (rural change II: innovation and investment), it was focused on sma ll-scale family 
farmers; from 2017 onwards, agricultural SMEs were prioritized. It is currently managed by MAGyP, 
working in partnership with INTA. It still offers state cofinancing, working with partner farmers, and 
offering training and technical assista nce. The budget allocated in 2021 was ARS 65 million.  
4.75.  The national system for the prevention and mitigation of agricultural emergencies and 
disasters was created by the Agricultural Emergency Law.86 Financed by the National Fund for the 
Prevention and Miti gation of Agricultural Emergencies and Disasters (FONEDA), it provides relief for 
farmers in the affected areas whose output or production capacity has been reduced by at least 
50%, for agricultural emergencies, or 80 %, for agricultural disasters. FONEDA f unding can be 
channelled into: (a) providing special financial assistance for affected farmers; (b) providing loans 
with a 25 % interest -rate discount in areas declared to be in agricultural emergency and with a 
50% discount in disaster areas; (c) consolida ting farmers' debts to each bank; and (d) providing 
ANRs to cover investments and operating costs, thereby rebuilding productive capacity. In 2020, 
budget out -turn on Programme 42, "Policies for managing agricultural risk (Law No. 26.509)", which 
comprises  FONEDA and prevention funds, was ARS 571 million, of which ARS 469 million went to 
FONEDA.  
4.76.  In February 2019, an agreement was signed with the IBRD for a loan of USD  150 million, with 
a further USD 37.5 million local contribution, to implement GIRSAR. With  GIRSAR, the strategy is to 
manage the risks faced by the Argentine agro -industrial sector comprehensively, taking measures 
to mitigate and transfer risk, and to provide assistance in agricultural emergency situations. The 
intention is to strengthen the re silience of the agro -industrial system, and to improve the 
management of agricultural risk by beneficiaries and selected sectoral institutions. To date, GIRSAR 
has been little implemented, with the measures taken focusing on component 1, which seeks to 
generate a unified information system, in order to improve the evaluation and management of 
agricultural risk.  
4.1.3   Forestry industry and silviculture  
4.77.  According to data from the Secretariat for Agriculture, Livestock and Fisheries (SAGyP), 
Argentina has a total fo rested area of 1,316 million ha.87 The country has some 33.2 million ha of 
native forest reserves. Forestry and logging contributed less than 0.1% to GDP in 2020, but this 
figure rises to over 1% when the allied industries of paper, wood and furniture are included.88 
Argentina's forestry trade balance continues to show a deficit, which in 2020 stood at 
USD 423.6  million. This deficit is mainly accounted for by the performance of trade in paper pulp, 
paper and paperboard (MERCOSUR Common Nomenclature (NCM) 4 7 and 48), which in 2020 posted 
a deficit of USD  536 million, the result of exports to a value of USD 296.3 million and imports worth 
USD 832.3 million. Trade in furniture (NCM 94) showed a deficit of USD 12 million, the result of 
exports to a value of USD  5.2 million and imports to the value of USD 18.2 million. Meanwhile, trade 
in wood (NCM 44) recorded a surplus of USD 113.3 million in 2020, the result of exports worth 
USD 204.7 million and imports worth USD 81.4 million.89 
4.78.  The Ministry of Agriculture, Livestock and Fisheries (MAGyP) is the body responsible for 
drawing up and implementing the forestry plans, programmes and policies of the national 
government in coordination with the provinces and the various subsectors. The N ational Directorate 
of Industrial Forestry Development (DNDFI) of the SAGyP supports the implementation of forestry 
 
86 Law No. 26.509 of 20 August 2009, Official Journal of 28 August 2009.  
87 Ministry of Agriculture, Li vestock and Fisheries (MAGyP) (2021). National Directorate of Industrial 
Forestry Development. Mapa de Plantaciones Forestales de Actualización Permanente. Área SIG e Inventario 
Forestal.  The total surface area given in the National Forestry Inventory publ ished on the MAGyP website is 
1,287,232 ha. See: https://datos.magyp.gob.ar/dataset/inventario -nacional -plantaciones -forestales -por-
superficie . 
88 According to information from the National Institute of Statistics and Censuses (INDEC), respective 
contributions to GDP in 2020 were: manufacture of paper and paper products (0.5%); wood production and 
wood and cork products, except furniture (0.2%); and manufacture of furniture (0.3%).  
89 MAGyP (2020), FORESTOINDUSTRIA Monitor, December 2020. Viewed at: 
https://www.agroindustria.gob.ar/sitio/areas/ss_desarrollo_foresto_industrial/estadisticas/_archivos//000000_
Comercio%20Exterior/000000_Monitor%20mensual/ .  WT/TPR/S/412 • Argentina  
 
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 plans, programmes and policies.90 DNDFI objectives include increasing the forested area and 
ensuring compliance with the commitments underta ken by Argentina as a Party to the Paris 
Agreement, maintaining reliable forestry inventories, opening up international markets, and 
supporting small and medium -sized forestry enterprises.  The legal framework governing the forestry 
industry and silvicultur e sector comprises the Law on Promotion of Forestry Activity (Law No.  13.273, 
approved by Decree No.  710/95 of 13  November  1995); the Law on Investment in  Cultivated 
Woodland (Law No.  25.080 of 16  December  1998), its extension (Law 
No. 27.487of  12 December  2018) and its implementing Decree No.  133/99; and various SAGyP 
Resolutions .91 
4.79.  The National Fund for the Enrichment and Conservation of Native Forests was created with 
the aim of compensating jurisdictions that preserve native forests for the environmenta l services 
they provide .92 In 2018, the Ministry of the Environment and Sustainable Development created the 
Trust Fund for the Environmental Protection of Native Forests in order to administer the National 
Fund for the Enrichment and Conservation of Native  Forests.93 The Trust Fund is financed by sources 
including the following: annually allocated budget appropriations, which may not amount to less 
than 0.3% of the national budget; 2% of total withholdings practised on exports of primary and 
secondary agric ulture, livestock and forestry products; and loans and/or subsidies granted by 
national and international organizations. Trust fund resources are distributed on an annual basis 
among the jurisdictions that have produced an Ordinance on Native Forests appro ved by provincial 
Law, in proportion to the surface area of native forests declared as such in each jurisdiction and 
based on the ratio of native forests to total forested area in each province. Each jurisdiction may 
use a total of 70% of the funds it is a llocated to compensate landowners whose land has an area of 
native forests. This compensation will take the form of a non -repayable contribution paid per hectare 
per year, in accordance with the classification of native forests, and may be renewed annually  
without restriction. The remaining 30% of funds must be allocated to developing and maintaining 
monitoring networks and information systems. The Annex to Resolution No.  69/2020 of the Ministry 
of the Environment and Sustainable Development (Official Journ al of 17 March 2020) contains the 
Trust Fund Regulations.  For the year 2020, current transfers of ARS 609.8 million were allocated by 
the State. These were mainly destined for the following purposes: to conserve native forests and 
regulate the expansion of  the agricultural and livestock sector; to improve and maintain ecological 
and cultural processes in native forests; and to promote the enrichment, conservation, renovation, 
improvement and sustainable management of native forests.94 
4.80.  Argentina has notified  the WTO of the subsidies granted under Law No.  25.080 on Investment 
in Cultivated Woodland (Official Journal of 19 January 1999) and amendments thereto.95 The Law 
establishes incentives to be granted by the  State to promote the harmonious development of t he 
forestry sector. The activities included in the regime are: the planting of woodland and the 
maintenance and sustainable management thereof. SAGyP is the implementing authority. The 
beneficiaries are all natural or legal persons that invest in the activ ities subject to Law No.  25.080, 
including state enterprises.96 The regime applies to all provinces that have adopted it via a provincial 
law. To date, the provinces of Buenos Aires, Corrientes, Entre Ríos, Jujuy, Mendoza, Misiones, Río 
Negro and Salta have adopted the regime.  The regime was initially established for a duration of 
10 years as of its enactment and publication in the Official Journal of 19 January 1999, but 
Law No. 26.432 (Official Journal of 29 December 2008) extended it for a furth er 10 years, while 
Law No. 27.487 (Official Journal of 4 January 2019) amended it, once again extending its duration 
by another 10 years. The Law on Investment in  Cultivated Woodland grants beneficiaries fiscal 
stability at the national, provincial and mun icipal levels (except with respect to VAT) for up to 
30 years, a period which can be extended for up to a maximum of 50 years, depending on the area 
and cultivation cycle of the species planted. Forestry undertakings and the forestry component of 
 
90 Information from MAGyP. Viewed at: 
https://www.agroindustria.gob.ar/sitio/areas/ss_desarrollo_foresto_industrial/institucional/ . 
91 Resolutions No.  10/2018, No.  134/2019, No.  138/2019, No.  116/20 and No.  22/2021.  
92 Law No.  26.331, Official Journal of 26 December 2007.  
93 Article 53 of Law No.  27.431 of 2 January 2018.  
94 2020 Draft National Budget. Message. Viewed at: 
https://www.economia.gob.ar/onp/documentos/presutexto/proy2020/mensaje/mensaje2020.pdf . 
95 WTO Document G/SCM/N/343/ARG of 14 February 2019. The amendments introduced durin g the 
review period include SAGyP Resolution No.  415/2013 of 22 October 2013; SAGyP Resolution No.  190/2015, 
Official Journal of 26 May 2015; SAGyP Resolution No.  219/2016, Official Journal of 25 October 2016; and 
SAGyP Resolution No.10/2018, Official Jour nal of 18 January 2018.  
96 Article 2 of Law No. 27.487, Official Journal of 4 January 2019.  WT/TPR/S/412 • Argentina  
 
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 industria l forestry undertakings are exempt from all property taxes, and early amortization of costs 
incurred is permitted for the calculation of income/profits tax. Additionally, beneficiaries of this 
regime may receive non -repayable economic support in the form o f a sum of money which is 
calculated per hectare and varies according to zone, species and forestry activity.97 Owners of such 
undertakings may also receive non -repayable economic support worth up to 70% of the costs 
incurred by pruning and thinning for a surface area of up to 600 ha. Non -repayable amounts 
disbursed in economic support in the period 2016 to mid -2018 totalled ARS  552.72 million.98 For the 
period mid -2018 to mid -2019, the total amount disbursed was ARS  272.16 million.99 
4.81.  During the review period, Argentina also continued to implement programmes to support 
forestry activity designed to promote investment over the medium and long term and job creation.100 
Support for forestry undertakings takes two forms: (i) a specific non -repayable am ount which is 
calculated per hectare and varies according to zone, species and forestry activity; and/or (ii) fiscal 
incentives for undertakings that engage in forestry activities such as fiscal stability and exemptions. 
Non-repayable amounts disbursed fro m 2013 to December 2020 totalled ARS 1,815 million.101 
4.82.  Between 2009 and 2015, Argentina implemented the Project for the Sustainable Management 
of Natural Resources with funding from the World Bank. The Project was divided into three 
coordinated components: (a) Native Forests and Biodiversity, implemented by the Secretariat for 
the Environment and Sustainable Development with approximate funding of USD  3.78 million; 
(b) Sustainable Forestry Plantations, implemented by MAGyP with funding of approximately 
USD 25 million; and (c) Protected Areas and Conservation Corridors, implemented by the National 
Parks Administration with funding of approximately USD  29 million. The Sustainable and Competitive 
Forestry Programme has been running since 2013 with IDB funding of  USD 60 million, while 
USD 14.8 million has been contributed by national and provincial governments. The Programme 
aims to contribute to the sustainable and competitive management of forestry plantations, increase 
product quality, diversify the production base and improve access to production chains and markets 
for micro, small and medium -sized enterprises (MSMEs) in the forestry and industrial forestry 
sectors.  
4.1.4   Fisheries  
4.83.  Fishery products accounted for 0.3% of GDP in 2020. Marine fishing in Argentina totall ed 
approximately 789,000 tonnes/year in 2020, and was concentrated in three species that accounted 
for 79% of the catch: hake (35%), prawns (23%) and squid (22%). The Argentine fleet responsible 
for these catches comprises some 800 vessels of different typ es.102 Following a period of sustained 
growth, in 2020 growth in fishery exports slowed due to a slight fall in exports of prawns and some 
fish species. In 2020, Argentine fishery exports totalled USD 1,728 million, compared with 
USD 2,148 million in 2018 a nd USD  1,863 million in 2019. The principal species exported is prawns 
(USD  830 million in 2020), followed by squid (USD  396 million) and hake (USD  221 million) 
(Table  4.7).103 Other export species include toothfish (USD  43 million in 2020), rays 
(USD  22.7 million), croaker (USD  30.7 million) and spider crab (USD  22.5 million). The export of 
fishery products is subject to export duties of between 5% and 7%, with the majority subject to the 
7% rate. 
 
97 The benefits include the following: up to 80% of the costs of planting woodland covering up to 20 ha; 
up to 60% of costs for the first 50 ha in the case of woodlan ds covering between 20 and 300 ha; up to 50% for 
the following 100 ha; and up to 40% for the following 150 ha (350 ha in the case of the region of Patagonia).  
98 WTO Document G/SCM/N/343/ARG of 14 February 2019.  
99 WTO Document G/SCM/N/343/ARG/Suppl.2 of 4 M arch 2021.  
100 Law No  25.080 of 19 January 1999 (and amendments thereto).  
101 WTO documents G/SCM/N/253/ARG/ - G/SCM/N/284/ARG/ -G/SCM/N/315/ARG/; 
G/SCM/N/343/ARG/; and G/SCM/N/343/ARG/Suppl.2, of 29 January 2018, 14 February 2019 and 
4 March  2020, respectivel y. 
102 Council of Argentine Fishing Companies (CEPA) (2019), La Industria Pesquera y las Áreas Marinas 
Protegidas en Argentina . Position paper, November 2019. Viewed at: https://cepapesquera.org/wp -
content/uploads/2020/05/La -Industria -Pesquera -y-las-Areas -Marinas -Protegidas -CEPA.pdf . 
103 MAGyP, Under -Secretariat for Fishing and Aquaculture, Directorate of Fisheries Planning, 
Exportac iones e Importaciones Pesqueras – 2020, April 2021. Viewed at: 
https://www .magyp.gob.ar/sitio/areas/pesca_maritima/informes/economia/_archivos//000000_Informes/8000
00_Exportaciones%20e%20importaciones%20pesqueras%20 -
%20Informes%20Anuales/000015_2020/210409_Exportaciones%20pesqueras%202020.pdf .  WT/TPR/S/412 • Argentina  
 
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 Table 4.7 Fishery exports, 2013 -20 
Description  2013  2014  2015  2016  2017  2018  2019  2020  
Live fish  65 43 22 25 37 --  ----- 
Fish, fresh or chilled, 
excl. fillets  9,488  6,867  3,042  179 487 96 299 259 
Fish, frozen, excl. fillets  248,972  250,789  242,419  259,042  226,718  234,074  229,974  
 200,413  
Fish fillets and other 
fish meat  280,962  281,447  241,732  243,736  234,595  257,235  269,278  
 207,916  
Fish, dried, salted for 
human consumption  14,339  15,519  12,702  16,376  9,613  13,833  8,331  6,304  
Crustaceans  632,857  777,420  780,306  1,024,142  1,222,053  1,324,428  1,079,465  851,888  
Molluscs  279,595  218,321  153,951  153,230  256,989  288,725  248,520  435,116  
Products unfit for 
human consumption  181 128 159 493 147 318 482 165 
Extracts and juices of 
fish and seafood  ----- ----- ----- ----- 135 316 87 153 
Fats and oils of fish  2,607  1,754  1,707  908 1,241  406 536 696 
Prepared or preserved 
fish  9,418  8,944  8,747  7,124  7,084  8,188  8,190  7,313  
Prepared or preserved 
seafood  620 197 77 94 381 931 1,574  737 
Flours, meals and 
pellets of fish  22,789  18,304  21,071  18,853  18,761  20,044  16,447  18,027  
TOTAL  1,501,892  1,579,734  1,465,935  1,724,202  1,978,241  2,148,595  1,863,184  1,728,987  
Memorandum item          
 Hake 291,890  291,400  245,432  250,573  249,360  252,136  276,098  221,100  
 Prawns  615,058  755,610  763,861  1,007,435  1,200,161  1,300,470  1,052,173  829,968  
 Squid  235,423  164,694  104,528  96,715  182,403  238,148  210,360  395,846  
Source:  MAGyP, Under -Secretariat for Fishing and Aquaculture, Directorate of Fisheries Planning, 
Exportaciones e Importaciones Pesqueras – 2020, April 2021. Viewed a t: 
https: //www.magyp.gob.ar/sitio/areas/pesca_maritima/informes/economia/_archivos//000000_Info
rmes/800000_Exportaciones%20e%20importaciones%20pesqueras%20 -
%20Informes%20Anuales/000015_2020/210409_Exportaciones%20pesqueras%202020.pdf . 
Information produced by the Un der-Secretariat for Fishing and Aquaculture based on the database of 
the National Institute of Statistics and Censuses (INDEC).  
4.84.  The main export markets for fishery products are: China (USD 346.9 million in 2020), Spain 
(USD 335.6 million), United States (USD 152.7 million), Italy (USD 115.4 million), Japan (USD 89.7 
million), and Brazil (USD 80 million). Imports of fishery products totalled USD  152.6 million in 2020, 
resulting in a trade surplus of USD 1,576 million. The main sources of imports wer e Ecuador (41% 
of total imports), Chile (32%) and Thailand (17%). The most -favoured -nation (MFN) tariff on fish 
and fishery products was 10.1% in 2020. Fish and crustacean imports are subject to a tariff of 10% 
(0% in the case of fish for breeding). An MFN  tariff of 16% applies to extracts and juices of meat, 
fish or crustaceans, molluscs or other aquatic invertebrates, while a tariff of 10% applies to fishmeal 
and fish oil.  
4.85.  The Federal Law on Marine Fishing or Law No.  24.922 of 6  January  1998, its implemen ting 
Decree No.  748/99 and amendments thereto, Law No.  25.470 of 18  September  2001, 
and Law No. 26.386 of 28  May 2008 constitute the legal basis regulating fishing in Argentina. 
According to the Law on Fishing, fishing activity and the processing of living  marine resources 
constitute an industrial activity. The State has exclusive dominion and jurisdiction over all living 
marine resources present in Argentina's Exclusive Economic Zone (EEZ) and on the Argentine 
continental shelf as of 12 nautical miles.104 
4.86.  The Federal Council of Fisheries (CFP) is responsible for developing national fisheries policy, 
and is the main regulator of marine fishing activity at the national level.105 CFP Resolution No.4 of 
21 May 2020 amends CFP regulations.106 The CFP establishes th e total allowable catch for each 
species, and annual catch quotas per vessel, species, fishing zone and fleet type, and approves 
 
104 The EEZ extends 200 miles from t he baselines.  
105 Law No. 24.922, Official Journal of 12 January 1998. The CFP has five provincial representatives (one 
for each province on the seaboard) and five representatives from the following state bodies: the Under -
Secretariat for Fishing and Aquacul ture (which chairs the CFP); the Secretariat for the  Environment and 
Sustainable Development; the Ministry of Foreign Affairs, International Trade and Worship; and the Executive 
(two representatives).  
106 Available at: http://cfp.gob.ar/resoluciones/Resolucion%204%20(21 -05-
20)%20Modificacion%20reglamento%20funcionamiento%20CFP.pdf . WT/TPR/S/412 • Argentina  
 
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 commercial and experimental fishing permits.107 The CFP also establishes extraction duties and 
royalties on the practice of fish ing, and sets the guidelines for participation in the National Fisheries 
Fund (FONAPE). FONAPE resources are used to finance fishing authorities (national and those of 
provinces on the seaboard), as well as research, training and equipment procurement acti vities. 
These resources are also used to finance patrol and monitoring activities, as well as training for 
fishery staff. In 2020, FONAPE collected total funds of ARS 542 million, of which ARS 271 million 
was shared out among the provinces.  
4.87.  The Under -Secre tariat for Fishing and Aquaculture (SSPyA) of the SAGyP is responsible for 
the application of fisheries policy in Argentina and is the implementing authority for the Federal Law 
on Fishing. The SSPyA executes national fisheries policy through a series of a ctions such as 
regulation and supervision of fishing activities, supervision of the maximum allowable catch for each 
species, and annual catch quotas by vessel, species, fishing zone and fleet type established by the 
CFP, as well as the issuing of fishing permits with prior authorization from the CFP and the 
establishment of closed areas or seasons. The SSPyA coordinates with the National Agriculture and 
Food Quality and Health Service (SENASA) on matters concerning the sanitary status of fishery 
products. The National Institute for Fisheries Research and Development (INIDEP), a decentralized 
agency attached to MAGyP, is the main body responsible for formulating and implementing research 
programmes related to marine fishery resources and their exploitation.108 INIDEP provides the CFP 
with advice on the total allowable catch for each species, experimental fishing, the design of 
management plans, and the application of fishery management measures.  
4.88.  The Federal Law on Marine Fishing provides that living marine res ources in marine areas under 
Argentine jurisdiction may only be exploited by natural persons domiciled in Argentina or legal 
persons under private law established and operating in accordance with Argentine law. Vessels used 
for fishing activities must be l isted in the national register and fly the national flag. Catches must 
also be unloaded from fishing vessels in Argentine ports, except in cases of force majeure and with 
prior authorization. Captains and officers must be Argentine, while 75% of remaining crew members 
must be Argentine or foreigners with over 10 years of proven permanent residence in Argentina.  
4.89.  Authorization from the SSPyA is required in order to engage in fishing. In addition, a fishing 
quota must be allocated or a fishing permit obtained if the species is not subject to a quota. The 
authorization may be in the form of: (i)  a fishing permit entitling Argentine -registered vessels to 
engage in commercial fishing  in waters under Argentine jurisdiction ; (ii) a permit to fish on the high 
seas, e ntitling Argentine -registered vessels to engage in commercial fishing outside the EEZ, on the 
high seas or, with a licence, in the waters of third countries; (iii) a temporary fishing permit granted 
to bareboat chartered vessels and foreign -registered vess els operating under the special conditions 
prescribed in the Federal Law; and (iv) a fishing authorization, allowing limited quantities of living 
marine resources to be caught for the purposes of scientific or technical research. Fishing permits 
are grante d for a period of up to 10 years and to a specific vessel, and may be extended for up to 
30 years for a particular vessel owned by a company with processing facilities in Argentine territory 
that processes and prepares fishery products in these facilities on a continuous basis. The CFP 
establishes the conditions under which permits are granted, giving priority to: vessels that employ 
a greater percentage of Argentine crew; vessels that add greatest value to the end product; vessels 
built in Argentina; and t he most recently built vessels.  
4.90.  Under the Treaty of Río de la Plata and the Corresponding Maritime Boundary, approved 
by Law No.  20.645 of 18  February  1974, Argentina and Uruguay share a common marine fishing 
zone in which vessels registered in both countr ies may operate.  
4.91.  The Programme for Sustainable Fisheries and Aquaculture Development (PRODESPA), which 
was launched in 2014 and came to an end in December 2020, sought to contribute to sustainable 
fishing and aquaculture, ensure the sustainable use of fish ery resources and improve 
competitiveness in the aquaculture sector through support for sustainable production and 
development throughout the value chain. The total cost of PRODESPA was USD  55 million, of which 
the IDB financed some USD  30 million, alongsi de a local and national contribution of some 
USD 25 million.109 PRODESPA was divided into two components: improvement of capacity to manage 
 
107 Law No.  24.922 and CFP. Viewed at: http://cfp.gob.ar/institucional/ . 
108 The INIDEP was created by Law No.  21.673 of 21 October 1977.  
109 MAGyP (2015), PRODESPA, Reglamento Operativo . Viewed at: 
https://www.argentina.gob.ar/sites/default/files/reglamento -operativo -prodespa.pdf . WT/TPR/S/412 • Argentina  
 
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 marine fishery resources; and support for aquaculture development. Its most relevant activities 
included strengthenin g the INIDEP; increasing the capacities of the Directorate of Aquaculture; and 
providing technical support to producers. PRODESPA was implemented at the national level by the 
Directorate -General of Sectoral and Special Programmes and Projects (DIPROSE) as implementing 
unit and by INIDEP as sub -implementing body. Beneficiaries of PRODESPA included: the CFP; the 
SSPyA; INIDEP; the fishing industry; authorities, researchers, technicians and producers in the 
aquaculture sector; and fish farmers and potential aq uaculture producers.  
4.92.  CFP Resolution No.10 -2009 of 27 May 2009, as amended, regulates the General Regime of 
Individual Transferable Quotas (ITQs), which is currently applied systematically to common hake, 
toothfish, Patagonian grenadier, blue whiting and sc allops, but could also be extended to any and 
all species on the decision of the CFP. For each ITQ, the CFP establishes a total allowable catch 
(TAC), which is the maximum authorized annual catch. The TAC is established by species and by 
zone or marine are a through the annual resolutions issued by the CFP. The ITQs are temporary 
concessions granted by the State to the owner of a fishing permit that enable them to catch a 
percentage of the TAC of a particular species and whose weight, expressed in tonnes, is  established 
on an annual basis in line with the TAC. Only fishing permit holders inscribed in the Fisheries Register 
can hold an ITQ. An ITQ is valid for 15 years as of the entry into force of each specific regime.  
4.93.  The Inland Fisheries Commission (CPC), c reated in November 2004 within the framework of 
the Federal Council for Agriculture (CFA), has the fundamental aim of harmonizing integrated 
management policy at the river basin level with a view to ensuring the sustainable and responsible 
use of inland fi shery resources. The CPC is chaired by the SSPyA and also comprises the seven 
provinces along the Paraná River Basin: Misiones, Chaco, Formosa, Corrientes, Santa Fe, Entre Ríos 
and Buenos Aires, together with one representative from Secretariat of the Envi ronment and 
Sustainable Development (SAyDS) and one from SENASA.110 The CPC coordinates with the SSPyA 
to monitor the evolution of the range of river species. Decree No.  230/2021 establishes that SAGyP 
is responsible for setting export quotas for the main s pecies of commercial interest in the River 
Basin. The SSPyA regularly assesses the status of these species and recommends whether or not 
export quotas should apply with the aim of preserving the resources of the Río de la Plata River 
Basin.111 In June 2021,  the standard establishing the export quotas applicable in 2021 was at the 
draft stage.  
4.94.  Aquaculture is regulated by the Law on the Sustainable Development of the Aquaculture 
Sector.112 Aquaculture producers must be listed on the Single Register of Aquacultu re Establishments 
(RENACUA) of MAGyP. The provincial and/or national authorities are responsible for issuing permits 
and/or concessions, as well as standard accreditations for the practice of aquaculture. The Law 
created the Promotion and Development Regim e for Growth in the Aquaculture Sector and the 
National Fund for the Development of Aquaculture Activities (FONAC), which provides funding for: 
the procurement of construction materials for infrastructure (up to 100% of the value of the 
materials); the pro curement of various supplies (up to 50% of the value of balanced feed and drugs 
destined for the farming of selected species and up to 20% of the value of breeding materials); food -
handling machinery; fish -grading equipment; the development of technologies  related to the farming 
of aquatic species; the promotion of associative ventures; compliance with sanitary control and 
quality certification programmes (up to 50% of the costs of projects related to obtaining certificates 
of quality, origin or organic pro duction); and access to sales and marketing. Beneficiaries of the 
Regime must be natural or legal persons engaged in aquaculture activity with annual production of 
up to 1,000 tonnes. Repayable funds are subject to a minimum grace period of 30 months. Tax 
benefits are also granted as part of the Regime, including: (a) the elimination of import tariffs on 
project equipment or machinery in the case of foreign goods; and (b) early amortization of 
income/profits taxes over two tax years to the value of 100% of the costs of the machinery procured 
 
110 MAGYP (2021). Information viewed at: 
https://www.magyp.gob.ar/sitio/areas/pesca_continental/actividades/_archivos//000000_Comisi%C3%B3n%2
0de%20Pesca%20Continental%20del%20C onsejo%20Federal%20Agropecuario.pdf .  
111 The species are: shad; surubins; tahira; piau; zungaro; golden dorado; long -whiskered catfish; 
thorny catfish; channel catfish; and driftwood catfish (NCM 0304.49.90; 0304.89.90; 0302.89.31; 0302.89.33; 
0302.89.34; 0 302.89.35; 0302.89.90; 0303.89.51; 0303.89.53; 0303.89.54; 0303.89.55; 0303.89.90; 
0305.39.00; 0305.49.90; 0305.59.00; and 0305.69.90). Decree No.  230/2021. Viewed at: 
https://www.magyp.gob.ar/sitio/areas/pesca_continental/normativa/_archivos//210412_Decreto%20230 -
2021%20con%20Anexo.pdf .  
112 Law No.  27.231 of 26 November 2015.  WT/TPR/S/412 • Argentina  
 
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 for the approved project. The Regime applies to the provinces that expressly adopt it . It is expected 
that the FONAC will begin to be implemented in 2021.  
4.95.  In 2019, Argentina notified the WTO that the country did not have  specific programmes of 
fisheries subsidies for the period 1 July 2016 to 30 June 2018.113 
4.2  Mining and energy  
4.2.1   Main features  
4.96.  In 2020, mining and quarrying accounted for 2.9% of GDP; hydrocarbons accounted for 2.4%; 
and mining production on its own accounted f or 0.5%.114 Mining activities are mostly in private 
hands, both foreign and national. In February 2021, some 80,000 people worked in mining and 
quarrying, and 74,400 in electricity, gas and water production.115 Exports of mining products – 
including manufactured products – totalled USD 2,340 million in 2019. Crude oil exports were worth 
USD 1,481  million in 2019, while oil derivatives totalled USD  2,009  million and natural gas stood at 
USD 50 million. Electricity exports totalled USD  627 million in 20 19. Following a period of little or no 
export activity, Argentina became a major electricity exporter once more in 2018.  
4.97.  In December 2020, oil production reached a total of 479,000 barrels per day, down some 
7.3% on the same month in the previous year. Mea nwhile, natural gas production reached 
113 million cubic metres per day, some 10.3% lower than in December 2019, with shale gas 
accounting for 41% of total natural gas production.  
4.2.2   Mining (excluding hydrocarbons)  
4.98.  According to the Constitution, natural resou rces are the property of the country's provinces. 
Pursuant to the Mining Code, mines are the private property of the nation or the provinces, 
depending on where they are situated (Article 7). Nevertheless, individuals are given the right to 
prospect for mi nes, operate and utilize them as owners, in accordance with the provisions of the 
Mining Code. Thus, the provinces define their own forms of managing their mining resources. The 
National Secretariat for Mining of the Ministry of Productive Development (MDP ) supports the 
provinces in implementing the public policies and programmes that are established to develop mining 
activity. Resolution No.  47/2020 of the Secretariat for Mining set out the Secretariat's Management 
Plan 2020 -23, with seven strategic object ives and 18 management programmes, most notably 
focusing on coordinating governance in relation to international, regional, provincial and local 
commitments and governance in natural resources. As permanent advisory agency in this sphere, 
the Federal Counc il for Mining (COFEMIN) has the mission of participating in the design, 
implementation and monitoring of national mining policy. COFEMIN is composed of representatives 
of each of the provinces that has adopted Law No.  24.224, along with representatives of national 
government. The Argentine Geological Mining Service (SEGEMAR) compiles and releases background 
geological information to contribute to decision -making by the authorities of the Secretariat for 
Mining and provides support to the provinces.  
4.99.  Mining p olicy is designed at the national and provincial levels. In the case of the latter, a 
series of agreements have been reached between the national government and the provinces. The 
most recent of these, the Federal Mining Agreement, signed in 2017, contains  the sectoral guidelines 
to be followed over the coming decades. Its text was signed by the national government and 
provincial governments (with the exception of Chubut and La Pampa, which do not allow the 
exploitation of mineral resources in their territo ries, and La Rioja) following discussions within 
COFEMIN. In the sphere of taxes, the Agreement states that the provinces undertake to ensure that 
the royalties paid by mining industries do not exceed 3% of the gross sales value of the mineral at 
the pithe ad. The provinces also undertake to require mining companies to allocate 1.5% of their 
gross income to a Provincial Infrastructure Fund to finance environmental and water monitoring 
works. Thus, a limit of 4.5% of gross income is established for the taxes to be paid by investors to 
 
113 WTO Document G/SCM/N/343/ARG/Suppl.1 of 28 Jun e 2019.  
114 INDEC. Viewed at: https://www.indec.gob.ar/indec/web/Nivel4 -Tema -3-9-47.  
115 Ministry of Labour, Employment and Social Security – Situación y Evolución del Trabajo Registrado , 
Argentine integrated social security scheme (SIPA). Viewed at:  http://trabajo.gob.ar/estadisticas/ . WT/TPR/S/412 • Argentina  
 
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 the provinces.116 The Agreement also includes environmental provisions and clauses encouraging 
the use of national components ("compre local") and national labour, as well as promoting 
preferential treatment for small and medium -sized enterprises (SMEs) in the mining sector, such as 
lower tariffs and technical assistance.  
4.100.   The Mining Code approved by Decree No.  456/1997 of 21 May 1997 regulates mining activity 
in Argentina and establishes the rights, obligations and procedures appli cable to the procurement, 
exploitation and use of mineral substances. The Code divides mines into three categories: (a) mines 
in which the land is an accessory that belongs exclusively to the State and can solely be exploited 
by virtue of a legal concessio n; (b) mines that due to their relevance are preferentially allocated to 
the landowner and mines that are dedicated to common use due to the conditions of the site; and 
(c) mines that cannot be exploited without the permission of their owner except for the  purposes of 
public utility.  
4.101.   The exploitation and exploration of mines, concessions and other relevant acts are deemed 
to be of public utility. Nevertheless, individuals are given the right to prospect for mines, operate 
them and utilize them as owners, wi thout prejudice to the original state ownership. Exploration 
requires a permit that is granted according to a measurement unit of 500 ha or fractions thereof, up 
to 10,000 ha. The same person may not own more than 20 permits in any one province, or obtain 
consecutive permits for the same exploration area. The State may not exploit or dispose of mines in 
any circumstances other that those set out in the Mining Code. These activities must be performed 
by individuals through legal concession for an indefinite period, subject to the payment of an annual 
royalty to the national government or provincial government as appropriate. Owners of exploration 
permits have the exclusive right to obtain exploitation concessions within the areas corresponding 
to their permit s. The holder of a mining concession is the owner of an exclusive in rem  property right 
that is not time bound, is assignable by contract, and may be mortgaged.  
4.102.   The promotion of mining activity is regulated at the national level by Law No  24.196 of 
19 May 1993 (Official Journal of 24 May 1993) (Mining Investment Law), implemented by Decree 
No 2.686/93.117 This Law creates a mining investment incentive regime based on the granting of tax 
benefits to parties that enrol on the Register created to that effect an d that comply with the 
obligations established in the Law and its implementing Decree, as well as any other regulations 
issued by the implementing authority. All natural persons domiciled in Argentina and legal persons 
incorporated in the country or author ized to act within its territory who are engaged in mining 
activities are eligible for the incentives under Law No.  24.196. The most notable tax benefits offered 
include: (a) fiscal stability for a period of 30 years from the date of submission of the feas ibility 
study; (b) exemption from the payment of export duties; (c) exemption from all duties, taxes, liens 
or statistical fees except for charges paid for services, for the import of capital goods, special 
equipment or parts or components of such goods an d the inputs needed for the execution of the 
activities covered by the regime; (d) profits tax deductions on 100% of amounts invested in 
prospecting, exploration, special studies and other tasks aimed at determining technical and 
economic feasibility; (e) accelerated depreciation on capital investments for new projects or 
extensions of existing projects; and (f) reimbursement of tax credits in VAT on imports and 
acquisition of goods and services by enterprises engaged in mining exploration with a view to 
undertaking mining prospecting, exploration, mineralogical testing and applied research. Law 
No. 24.196 has been adopted by the majority of provinces except for Chaco and Formosa.  
4.103.   Moreover, to date various resolutions have been issued to implement the Mining  Investment 
Law. Those implemented during the review period include the following Resolutions of the former 
Secretariat of Mining Policy: No.  30/2018 of 27 December 2018, which establishes the conditions 
and requirements for the enrolment of mining enterpr ises and mining services in the Register 
established by Law No.  24.196; No.  89/2019 of 24 October 2019, which establishes the procedure 
for processing import applications under Law No.  24.196 and the regime applicable to used goods 
and leasing contracts fo r import along with the exemptions provided for; No.  4.428/2019 of 
26 February  2019 (issued jointly with the Federal Public Revenue Administration (AFIP)),which 
 
116 Except for the province of Santa Cruz, which is allowed to maintain the right to receive 2% for its 
Infrastructure Fund.  
117 Law No.  24.196 was amended by Law No.  25.429 of 1 June 2001, while its implementing regulations 
were amended by Decree No.  1.089/03 of 7 May 2003. Both were further amended by various laws, 
resolutions and orders. See: InfoLEG at: 
http://servicios.infoleg.gob.ar/infolegInternet/verVinculos.do?modo =2&id=594 .  WT/TPR/S/412 • Argentina  
 
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 implements the procedure for claims related to impacts on fiscal stability to apply for compens ation 
or reimbursement of amounts paid; No.  9/2019 of 31 January 2019, approving the procedure for 
applications for fiscal stability certificates; and No.  6/2019 of 31 January 2019, which sets out the 
procedure and conditions for the use of profits tax ben efits. Resolution No  15/2020 of the Secretariat 
for Mining authorizes the issuing of digital certificates within the framework of Law No.  24.196 and 
suspends the issuing of certificates by any other channel; and Resolution No.  60/2021 establishes 
the oblig ation to submit all sworn declarations required by Law No.  24.196 in digital form via the 
"Remote Procedure" platform (TAD).  
4.104.   The provinces have their own legislation and procedural regulations for the exercise of the 
rights regulated in the  Mining Code. Re gulations at the provincial level may not contravene the 
provisions of the Mining Code. The terms and methods for calculating and paying provincial royalties 
are subject to provincial regulations, within the limits of national legislation. To this end, Law  
No. 24.196 on Mining Investment sets a ceiling of 3% of the value of the mineral at the pithead for 
provinces following this law.  
4.105.   The export of mining products was subject to duties during most of the review period. 
Resolution No.  11/2002 of the former Mi nistry of the Economy and Infrastructure established export 
duties of 5% and 10% for a series of goods, including metal minerals and concentrates thereof. 
Decree No.  160 of 18 December 2015 reduced to 0% the export duties applicable to certain 
by-products classified under the tariff headings in NCM Chapters 28 to 40, 54 to 76 and 78 to 96, 
some of which include mineral products. Decree No.  349/2016 of 12 February 2016 established 0% 
export duties for the tariff headings included in NCM Chapters 25 and 26, a long with tariff headings 
2701.11.00, 2701.12.00, 2701.19.00, 2703.00.00 and 2714.90.00. I n September 2018 , as a result 
of the economic crisis and decline in international reserves, export duties were reintroduced through 
Decree No.  793 of 3 September 2018  at a rate of 10%. Law No.  27.541 (Official Journal of 
23 December 2019) reduced these duties to a maximum of 8%, which was ratified by Decree 
No. 785/2020 of 1 October 2020, thereby repealing Decrees Nos. 1.126/2017 and 793/2018. In 
December 2020, Decree No. 1.060/2020 established an export duty rate of 4.5% for the tariff 
headings in NCM Chapters 25 and 26. Meanwhile, the majority of tariff headings for mineral 
substances and their derivatives (236) were also covered by the 4.5% rate, except for 19 tariff  
headings which were subject to a rate of 3%. Tariff heading 2701.19.00 was assigned a rate of 12%, 
while tariff headings 2703.00.00 and 2714.90.00 were subject to a rate of 8%, with certain 
exceptions.  
4.106.   Argentina has various mining incentive schemes apart from those set out in Law No.  24.196, 
which mainly offer tax reductions and exemptions, fiscal stability concessions, or tax waivers. 
Argentina has notified the WTO of the mining subsidies provided for in four laws: Law No.  10.273 
on tax exemptions; Law No . 24.196 on mining investments; Law No.  24.228 on the Federal Mining 
Agreement; and Law No.  24.402 on the value added tax (VAT) payment financing scheme.118 These 
laws do not establish any time limits for these incentives. According to Argentina's notificat ions, the 
purpose of these laws is to encourage mining activities, ensure the rational exploitation of mining 
resources, generate employment and diversify regional economies.  
4.107.   Law No.  10.273 establishes a tax exemption – which does not apply to the mining r oyalty – 
for the first five years of a mining concession, the benefits of which apply where the holder is an 
individual.119 This Law has been amended various times during the review period.120 Law No.  24.228 
(Official Journal of 2 August 1993), as amended, c ontains the Federal Mining Agreement, which calls 
on the provinces to eliminate taxes on mining activities from their legislation. Law No.  24.402 
institutes a regime for financing payment of VAT through credit lines granted by financial entities. 
The benef iciaries are the purchasers or importers of the goods referred to in the Law, inasmuch as 
 
118 WTO documents G/SCM/N/343/ARG  of 14 February 2019 , G/SCM/N/343/ARG/Suppl.1 of 
28 June 2019 and G/SCM/N/343/ARG/Suppl.2 of 4 March 2020.  
119 Law No.  10.273, Official Journal of 17 November 1917. Viewed at: 
http://servicios.infoleg.gob.ar/infolegInternet/anexos/40000 -44999/43586/norma.htm .  
120 Joint Resolution No.  4428/2019 of the Secretariat of Mining Policy and AFIP (Official Journal of 
27 February 2019), Resolution No.  9/2019 of the Secretariat of Mining Policy (Official Journal of 
4 February  2019), Resolution No.  30/2018 of the Secretariat of Mining Policy (Official Journal of 
2 January  2019) and Resolution No.  6/2019 of the Secretariat of Mining P olicy (Official Journal of 
4 February  2019).  WT/TPR/S/412 • Argentina  
 
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 they are intended for the production process. In its notification to the WTO, the authorities declared 
that, while the Law has not yet been repealed, its period of ap plicability has expired.121 
4.108.   Tax expenditure on tax exemptions for mining activity under the Law on the Promotion of 
Mining Activity (Law No.  24.196) rose to ARS  5,530.6 million in 2020 (from ARS  4,365.8 million in 
2019), of which ARS  1,373.6 million was profits tax exemptions (ARS 1,084.3 million in 2019); 
ARS 3,984.1 million corresponded to import tax exemptions (ARS  3,145.0 million in 2019); and 
ARS 172.9 million in exemptions from other taxes (ARS  136.5 million in 2019).122 Tax expenditure 
on the promot ion of mining activity accounted for 0.02% of GDP in each of the years of the review 
period.123 
4.2.3   Hydrocarbons  
4.2.3.1   Market characteristics  
4.109.   Argentina is one of the main producers of crude oil in Latin America, with a network of 
pipelines over 6,000  km long, 5,500  km of pipeline and 4,500  km of multi -product pipeline. 
Argentina is self -sufficient for its crude oil supply and is an exporter of crude oil, while it is an 
importer of grade 3 gas oil. In recent years – and above all up to 2017 – production entered a phase  
of decline, falling from 38.4  million m3 in 2006 to 31.3  million m3 in 2013 and 27.9  million m3 in 
2020 (Table  4.8).124 Oil production reached a record low in 2017 and has slightly recovered since 
then, mainly due to the increased activity of non -conventio nal reserves.125 In relation to oil 
derivatives, during the review period petroleum spirit and butane production increased, while gas 
oil and fuel oil production fell slightly (Table  4.8). Natural gas production increased during the review 
period from 41.7 million m3 in 2013 to 49.4 million m3 in 2019 before falling to an estimated 
45.1 million m3 in 2020 due to the negative impact of the COVID -19 pandemic. There was an 
accumulative increase of 163.3% in the production of natural gas between 2015 and 2019, mainly 
due to a rise in production of non -conventional gas (shale and compact gases).126 
Table 4.8 Production of oil and oil derivatives (thousands of m3; millions of tonnes in the 
case of LPG)  
Period  Crude 
oil  Processed 
products  Processed 
crude oil  Gas 
oil Regular 
petrol  
>83 
RON Super 
petrol  
>93 
RON Petrol  
>97 
RON Fuel 
oil IFO-type 
mixtures  Liquefied 
petroleum 
gas (LPG)  
Butane  
2012  31,969  37,677  30,812  11,978  142 5,390  1,770  2,518  1,653  2.72 
2013  31,333  37,890  30,584  11,681  120 5,781  1,709  2,467  2,088  2.63 
2014  30,880  38,114  30,556  11,522  29 5,783  1,468  3,022  1,847  2.62 
2015  30,898  39,490  31,089  12,181  28 5,980  2,312  3,807  1,056  2.59 
2016  29,708  38,445  29,708  11,946  22 6,071  2,339  3,371  783 2.62 
2017  27,833  37,534  28,990  12,003  7 6,131  2,748  2,372  803 2.59 
2018  28,405  35,953  27,286  11,539  16 6,457  2,412  1,444  625 2.74 
2019  29,516  35,670  27,626  11,599  0 6,672  2,086  1,812  866 2.82 
2020  27,955  31,214  24,270  10,662  0 5,076  1,578  2,036  852 2.65 
Source:  Information provided by the authorities.  
4.110.   Production of crude oil and natural gas was shared by the company YPF S.A. and 
multinational enterprises.127 YPF S.A. is also the preponderant supplier in sales of the main 
 
WTO Document G/SCM/N/343/ARG/Suppl.2  of 4 March 2020.  
122 Government of Argentina. Viewed at: 
www.argentina.gob.ar/economia/ingresospublicos/gastostributarios.  
123 Secretariat for Mining (2020) Informativo N° 1 Ley de Inversiones Mineras . Viewed at: 
https://www.argentina.gob.ar/sites/default/files/ley_de_inversiones_mineras_v2.pdf .  
124 Information viewed at:  https://www.argentina.gob.ar/economia/energia/hidrocarburos/vol umenes .  
125 Secretariat for Energy (2019), Balance de gestión en energía 2016 —2019. Viewed at: 
http://www.energia.gob.ar/contenidos/archivos/Reorganizacion/sintesis_balance/2019.12.09_B alance_de_Gest
ion_en_Energia_2016.2019_final_y_anexo_pub_.pdf .  
126 Secretariat for Energy (2019), Balance de gestión en energía 2016 —2019. Viewed at: 
http://www.energia.gob.ar/contenidos/archivos/Reorganizacion/sintesis_balance/2019.12.09_Balance_de_Gest
ion_en_Energia_2016.2019_final_y_anexo_pub_.pdf .  
127 In 2019, YPF S.A. accounted for 46.5% o f total production, followed by Pan American Energy LLC 
(20.7%), PLUSPETROL S.A. (5,3%), Sinopec Argentina Exploration and Production, Inc. (3.8%), TECPETROL 
S.A. (2.9%), Total Austral S.A. (1.9%), Chevron Argentina S.R.L. (1.1%) and ENAP SIPETROL ARGENTIN A 
S.A. (1.1%). PETROBRAS ARGENTINA S.A. withdrew from the market in 2018.  WT/TPR/S/412 • Argentina  
 
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 hydrocarbon derivatives. In the cas e of some products – such as petroleum spirit, butane, kerosene 
and gas oil – the company's sales exceeded those of all the other market participants combined. 
Following a period of decline, proven reserves of oil increased as of 2018. This was due to the 
discovery of a new field at Vaca Muerta, which has increased proven reserves of oil and natural gas. 
Although only 4% of the field is currently being exploited, it makes up 15% of total oil production.128 
A total of 31 enterprises participate in the project .129 
4.111.   There are currently eight enterprises with oil refineries offering a total capacity of over 
600,000 bpd.130 YPF has four industrial complexes dedicated to oil refinery: La Plata, Luján de Cuyo, 
San Lorenzo and Plaza Huincul. The Industrial Complex of La  Plata (CILP) has a refining capacity of 
189,000 bpd, while the Industrial Complex of Luján de Cuyo (CILC) has a total refining potential of 
105,500 bpd. The Campo Durán Refinery is operated by REFINOR, a company in which YPF is the 
main shareholder with a  50% stake in that company.131 The enterprise Integración Energética 
Argentina S.A. (IEASA), successor to the former Energía Argentina Sociedad Anónima (ENARSA), is 
responsible, either alone or through third parties or jointly with third parties, for the su rveying, 
exploration and exploitation of solid, liquid and/or gaseous hydrocarbon reserves, and the transport, 
storage, distribution, marketing and processing of such products and their by -products, as well as 
for providing the public service of transporti ng and distributing natural gas and for the generation, 
transport, distribution and marketing of electrical energy.  
4.112.   In 2019, Argentina held its first international open competition for a hydrocarbons offshore 
exploration project in more than 30 years. The competition put out to tender 38 areas and received 
23 offers. Contracts were awarded for a total of 18 areas covering a surface area of 94,804.51 km² 
for a total of nine consortia and an investment commitment of over USD  724 million. In June  2021, 
Round 2  of the competition was under consideration. Proven reserves of natural gas stood at 
384,144  million m3 at 31 December 2019, with a year -on-year increase of 8.3%.132 
4.113.   During the review period there was a substantial reduction in the amounts of subsidies 
offered to the energy sector. Subsidies fell from a peak of 3.5% of GDP in 2014 and 3% of GDP in 
2015 (USD  18,961 million) to 1.4% of GDP in 2019 (USD  5,954 million).133 This decline of around 
69% resulted from a decrease of 68% in electricity subsidies and of an average of 61% in gas 
subsidies, while oil subsidies fell by 100% (Table 4.9).  
 
128 Vaca Muerta News, 15 October 2019. Information viewed at: 
http://www.vacamuertanews.com.ar/ver_no ticia.php?id=20191015065101 . 
129 YPF has a total of 23 areas and permits in Vaca Muerta, of which a total of 16 are currently in 
operation. Up to July 2019, the enterprise averaged oil production of 61,758 barrels per day (bpd).  
130 These are: YPF, Raízen (lic ensee of the Shell brand) and Pan American Energy (PAE, which operates 
under the brand name AXION), accounting for the majority of refinery production, along with Puma Energy, 
DAPSA, Gulf, Voy con Energía and New American Oil.  
131 Information from REFINOR. V iewed at: https://www.refinor.com/empresa .  
132 Information from the IAPG. Viewed at: https://www.iapg.org.ar/estadisticasnew/petrooo.html .  
133 Secretariat for Energy (2019), Balance de gestión en energía 2016 —2019. Viewed at: 
http://www.energia.gob.ar/contenidos/archivos/Reorganizacion/sintesis_balance/2019.12.09_Balance_de_Gest
ion_en_Energia_2016.2019_final_y_anexo_pub_.pdf .  WT/TPR/S/412 • Argentina  
 
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 Table 4.9 Energy subsidies, 2013 -19 
(USD million and % of GDP)  
Subsidy  2013  2014  2015  2016  2017  2018  2019  
Total 19,003  3.1 19,845  3.5 18,961  3.0 11,306  2.0 8,094  1.3 7,961  1.5 5,954  1.4 
Electricity  10,421  1.7 11,340  2.0 11,812  1.8 7,419  1.3 5,169  0.8 4,928  0.9 3,737  0.9 
 Demand -
side 
subsidiesa .. .. .. .. 8,541  1.3  7,280  1.3 5,067  0.8 4,827  0.9 3,671  0.9 
 Otherb .. .. .. .. 3,271  0.5 139 0.0 102 0.0 102 0.0 67 0.0 
Gas and LPG  7,969  1.3 7,938  1.4 5,640  0.9  3,381  0.6 2,744  0.4 3,032  0.6 2,216  0.5 
 Subsidies for 
natural gas  .. .. .. .. 4,914  0.8  2,960  0.5 2,034  0.3 2,445  0.5 1,777  0.4 
 Other gasesc .. .. .. .. 725  0.1  0.1 421 709 0.1 587 0.1 440 0.1 
Oil and oil 
derivativesd 613 0.1 567 0.1 1,510  0.2 505 0.1 181 0.0 0.0 0.0 0.0 0.0 
.. Not available.  
a Includes VAT.  
b Includes subsidies to Ente Binacional Yacyretá; Empresa Neuquina de Servicios de Ingeniería 
(ENSI); bills and  debts  of electricity market agents under Resolution No.  406/2003; ENSI (), 
compensation and assistance to distrib utors under Resolution No.  32/2015; and transfers within the 
framework of the Electricity Tariff Convergence Programme.  
c Compensation and deferment for producers, assistance and compensation for distributors, "Tarifa 
Diferencial", "Programa Hogar", "Propa no Redes".  
d Production and export stimulus programmes, "Refinación Plus" and "Exportación Plus".  
Note:  Figures in USD for the years 2013 and 2014 are calculated by the WTO Secretariat.  
Source:  Secretariat for Energy, Balance de gestión en energía 2016-2019. Viewed at: 
http://www.energia.gob.ar/contenidos/archivos/Reorganizacion/sinte sis_balance/2019.12.09_Balanc
e_de_Gestion_en_Energia_2016.2019_final_y_anexo_pub_.pdf . 
4.114.   Hydrocarbon exports were discouraged by the application of policies to freeze natural gas 
prices and variable withholding taxes on oil exports. During each year from 201 2 to 2018 Argentina 
registered an energy trade deficit, which reached its peak in 2013 with a trade deficit of 
USD 6.9 billion. There has since been an improvement in the trade balance, with growth in 
hydrocarbon production, mainly from non-conventional  reserves, which enabled an increase in 
exports and a reduction in imports.134 Hydrocarbon exports and imports fell in 2020 due to the effect 
of the pandemic on economic activity. Exports totalled USD  1,790  million (USD  2,726  million in 
2019), while imports to talled USD  2,022  million (USD  3,541  million in 2019).  
4.2.3.2   Legal and institutional framework  
4.115.   The Secretariat for Energy of the Ministry of the Economy is responsible for drafting, 
implementing and monitoring national policy regarding the hydrocarbon subsector. The 
Under -Secretariat for Hydrocarbons, part of the Secretariat for Energy, is responsible for supporting 
the design, implementation, monitoring and control of national hydrocarbon policy. The main 
regulatory framework in force governing the exploration an d exploitation of hydrocarbons includes 
Law No.  17.319 of 30 June 1967 (Hydrocarbons Law), Law No.  26.020 of 8 April 2005 (LPG Law), 
Law No.  26.197 of 5 January 2007 (amendment to Law No. 17.319 and known as the "Short Law"), 
Law No.  26.741 of 7 May 2012 ( Hydrocarbons Sovereignty Law), and Law No.  27.007 (Official 
Journal of 31 October 2014) (amendment to Law No.  17.319).  
4.116.   The Hydrocarbons Law provides that liquid and gaseous hydrocarbon reserves located in the 
territory of the Argentine Republic and on its continental shelf are the inalienable and imprescriptible 
property of the national State or of the provincial States, depending on the territorial area in which 
they are located. The hydrocarbon reserves located in the territories of the provinces, inc luding those 
located in the sea adjacent to its coastlines up to a maximum of 12 nautical miles belong to the 
provincial states (or to the Autonomous City of Buenos Aires), while those located beyond 
12 nautical  miles belong to the State.135 Hydrocarbon dep osits on the bed and subsoil of the 
 
134 Secretariat for Energy (2019), Balance de gestión en energía 2016 —2019. Viewed at: 
http://www.energia.gob.ar/contenidos/archivos/Reorganizacion/sintesis_balance/2019.12.09_B alance_de_Gest
ion_en_Energia_2016.2019_final_y_anexo_pub_.pdf .  
Law No.  24.145 of 24  September 1992 and the subsequent 1994 constitutional reform transferred to 
the provinces the control of hydrocarbon deposits situated on their territory.  WT/TPR/S/412 • Argentina  
 
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 Río de la Plata from the coastline up to a maximum of 12 nautical miles belong to the province of 
Buenos Aires or to the Autonomous City of Buenos Aires, as appropriate.  
4.117.   The main objective of Argentina's hydrocarbons pol icy is self -sufficiency, which implies 
maintaining the reserves required to this end. Exports are contingent on the supply of the domestic 
market through national production: the export of hydrocarbons or derivatives is only permitted 
where these are not r equired to meet domestic needs, and provided that exports take place at 
reasonable commercial prices.136 
4.118.   The Executive has the authority to fix domestic market prices for crude oils, which shall not 
be lower than the prices of similar imported oils unless t he latter are significantly increased by 
exceptional circumstances. In such cases, domestic market prices may be set on the basis of real 
(state enterprise) operating costs. Activities related to the exploitation, industrialization, transport 
and sale of h ydrocarbons may be carried out by state, private or mixed enterprises. To this end, the 
Executive grants exploration permits and temporary concessions for the exploitation and transport 
of hydrocarbons. The permits and concessions give their holders, who m ust be domiciled in 
Argentina, control over the hydrocarbons they extract. They may also transport, market, 
industrialize and sell hydrocarbon derivatives. Two types of regimes govern permits and 
concessions: those that are granted exclusively by the federal government , which are governed by 
Law No. 17.319, of national scope; and those under provincial jurisdiction.  
4.119.   An exploration permit confers the exclusive right to carry out all the tasks required to search 
for hydrocarbons within the perimeter and durin g the terms stipulated on the permit. For 
conventional exploration, a basic term of six years and an extension period of up to five years is 
stipulated, for a total term of up to 11 years. For non -conventional exploration, a basic term of eight 
years and a n extension period of up to five years is stipulated, for a total term of up to 13 years. 
For exploration on the Argentine continental shelf and in the Argentine sea, each of the periods of 
the basic term may be increased by one year. Hydrocarbons extracte d during exploration will be 
subject to a 15% royalty.  
4.120.   An exploitation concession confers the exclusive right to exploit the hydrocarbon reserves 
that exist in the areas covered by the respective concession contract and during its term. Holders of 
explorat ion permits and/or exploitation concessions may apply for a Non -Conventional Hydrocarbon 
Exploitation Concession (extraction using non -conventional techniques in reserves characterized, in 
general, by the presence of low permeability rocks). Exploitation c oncessions are granted, as 
appropriate, by the national or provincial executive. Holders of an exploitation concession have the 
right to obtain a concession for the transport of their hydrocarbons. Hydrocarbon exploitation 
concessions are granted for terms  of 25, 30 or 35 years for conventional, continental shelf/territorial 
seas and non -conventional exploitation, respectively. Holders of concessions that are producing 
hydrocarbons may request, no less than one year prior to the expiry of the concession, ex tensions 
for terms of 10 years each. Transport concessions do not imply a privilege of exclusivity and are 
granted and extended for terms equivalent to those of exploitation concessions, after which the 
facilities become the property of the national or pro vincial state.  
4.121.   Permits and concessions are awarded through invitations to tender, which are advertised for 
no less than 10 days in the national and international media, including the Official Journal, at least 
60 days before the start of the bidding proces s. The contract will be awarded to the bid that is most 
advantageous according to the criteria of the National or Provincial Executive, giving priority in 
particular to the bid that proposes the greatest investment or exploratory activity.  
4.122.   Holders of explo ration permits and exploitation concessions will enjoy fiscal stability during 
the term of these; they are subject to the payment of customs duties, taxes or other duties levied 
on goods imported into the country and to the payment of capital gains tax. Th e net profit they 
obtain in the exercise of their activity as permit holders or concessionaires is subject to special 
income tax, and some special provisions apply that govern the calculation of the sale price of the 
 
136 SE Resolution No. 1.679/2004 of 23  December  2004 establishes that production, marketing and 
refining companies or any other market operator wishing to export liquid or gaseous hydrocarbons must 
register the operation(s) with the Secretariat for Energy for prior approval . Registration is a mandatory 
requirement for export of these products. Authorization has to be obtained from the  Secretariat for Energy for 
the export of crude oil and requires prior proof that demand from all the refineries authorized to operate in 
Argen tina has been duly met or that local refineries have been given the opportunity to buy the crude oil.  WT/TPR/S/412 • Argentina  
 
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 hydrocarbons extracted and those export ed. In addition to the above taxes, companies holding an 
exploration permit pay a royalty per km2 or fraction thereof, annually and in advance, according to 
the following scale (Decree No.  771/2020): (i) first period of the basic term, the equivalent in AR S 
of 0.46 barrels of oil per km2; (ii) second period of the basic term, the equivalent in ARS of 
1.84 barrels of oil per km2; and (iii) extension, the equivalent in ARS of 32.22 barrels of oil per km2. 
Exploitation concessionaires pay, annually and in adva nce, a royalty equivalent in ARS to 
8.28 barrels of oil per km2 or fraction thereof, depending on the area covered.  
4.123.   Under the provisions of Law No.  27.007 (see below), the exploitation concessionaire, 
including state -owned enterprises, must pay a monthly r oyalty of 12% of the value of the liquid 
hydrocarbons extracted at the well head, or of the natural gas production, as the case may be. 
Royalties may vary according to provincial extensions or invitations to tender. Production projects 
applying enhanced oi l recovery, extra -heavy oil and offshore techniques may benefit from a royalty 
reduction of up to 50%. In 2020, revenue from royalties totalled USD  862.8 million for crude oil, 
USD 393.8 million for natural gasoline, condensate and LPG, and ARS  28,881.2 mi llion for natural 
gas.137 
4.124.   In 2014, Argentina adopted substantial legislative amendments. Law No.  27.007 (Official 
Journal. of 31 October 2014) (Hydrocarbons Law, 2014) amends various provisions of Law 
No. 17.319, and introduces new elements related to:  
(a) Term s of exploration permits and exploitation concessions  are extended and 
differentiated, from 25 years for all permits to 25 years for conventional concessions, 
30 years for offshore and 35 years for non -conventional concessions; exploitation 
concessions may  request extensions for 10 years, with no limit on the number of extension 
requests;  
 
(b) Reservation of areas:  the provinces and the State may not reserve areas in favour of 
public entities or enterprises or those with state participation;  
 
(c) Royalties:  the concession holder will pay a monthly royalty of 12% on wellhead production, 
and in each extension, an addition al royalty of 3% will be added, up to a maximum of 18%. 
The royalty rates will be the only income on hydrocarbon production received by the 
provinces. Tertiary production, extra -heavy oil and offshore projects may be eligible for a 
royalty reduction of up to 50%;  
 
(d) Incentives:  the scope of the benefits of the Investment Promotion Regime for Exploitation 
contemplated in Decree No.  929/2013 has been extended by reducing the minimum amount 
of investment required to be eligible for the benefit from USD  1 billion  to USD  250 million, 
and after three years from the start of the project, instead of the previous five. Free disposal 
of foreign currency for exports for up to 20% of production is maintained, while investment 
in offshore projects exceeding 90 metres is ad ded, for which free disposal is set at 60%. 
There is also a special framework for the import of capital goods or inputs;  
 
(e) Corporate Social Responsibility (CSR) : It is established that, within the framework of 
certain investment projects, concessionaires mu st make contributions of 2.5% of the initial 
project investment amount to the producer provinces where the investment project is 
developed.  
 
4.125.   Law No.  27.444 (Official Journal of 18 June 2018) amended the Hydrocarbons Law and 
provided that it is in the power of the National Executive to determine the areas of the country of 
interest for promoting the activities governed by that Law, and to grant permits and concessions, 
extend their terms and authorize their assignments, etc.  
4.126.   Hydrocarbons legislation pro vides for the preferential employment of Argentine nationals at 
all levels of the activity. The proportion of national citizens to total staff employed by each licensee 
or concessionaire may not be less than 75% under any circumstances. The Executive is em powered 
to hold tenders with the exclusive participation of enterprises with predominantly Argentine capital, 
 
137 Updated information on royalties can be found at the following link: 
https://www.energia.gob.ar/contenidos/verpagina.php?idpagina=3181 . WT/TPR/S/412 • Argentina  
 
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 and may establish rules and taxes to promote the participation of such enterprises in activity in the 
oil sector.  
4.127.   Law No.  26.741, published on 7 M ay 2012, provided that 51% of the shares subject to 
expropriation in the companies YPF S.A. and Repsol YPF Gas S.A. should be transferred to the State 
and 49% to the provinces belonging to the Federal Organization of  Hydrocarbon -Producing States, 
in line w ith their levels of hydrocarbon production and proven reserves. The Law authorizes YPF S.A. 
to turn to external or internal funding sources and to enter into strategic associations, joint ventures, 
temporary associations of companies or any type of busines s association or collaboration with other 
Argentine or foreign public, private or semi -public enterprises. Decree No.  1.277/2012 of 
25 July 2012, regulating Law No.  26.741, established the National Hydrocarbons Investment Plan, 
and provided that its strate gic axes are to increase and maximize the use of investments and 
resources for hydrocarbon exploration, exploitation, refinery, transport and sale to ensure self -
sufficiency and sustainability.  
4.128.   Resolution No.  130/2013 (Official Journal of 19 April 2013) cr eated the "Argentine 
Hydrocarbons Fund", which aims to finance projects for the exploration, exploitation, 
industrialization or sale of hydrocarbons for up to USD  2 billion. Joint Resolution No.  5-E/2017 of 
10 July 2017 of the Ministry of Finance and the T reasury created the Argentine Hydrocarbons Fund 
Implementation Committee. However, in June 2021 this Fund was no longer operational.  
4.129.   In 2017, the Register of Crude Oil Import Operations was established by Decree 
No. 192/2017 (Section 3.1.1). This register ceased to be in force on 31 December 2017. To import 
crude oil and/or its derivatives, an import authorization is required from the Under -Secretariat for 
Hydrocarbons, which determines the volume to be authorized according to the supply of crude oil of 
national origin of similar characteristics, the additional processing capacity of local refineries with 
crude oil of national origin, and the national supply of oil derivatives. Tariff headings corresponding 
to hydrocarbons have traditionally been subject to automatic import licensing requirements. 
However, Order No.  3/2020 (Official Journal of 12 March 2020) of the Under -Secretariat of Trade 
Policy and Management (SSPyGC) ensured that NCM tariff headings 2709.00.10; 2709.00.90; 
2710.12.59 and 2710.19.21 becam e subject to non -automatic import licensing. This requirement 
was in force for one year before the provisions of SSPyGC Orders Nos.  5/2021 (Official Journal of 
11 March 2021) and 7/2021 (Official Journal of 15 March 2021) meant that these positions ceased 
to be subject to the non -automatic licensing regime and once more required an automatic licence.  
4.130.   In 2017, the Used Goods Import Regime for the Hydrocarbons Industry came into force for 
a period of 10 years. It allows used goods to be imported at a tariff o f 0% to 14%, lower than the 
MFN applied tariff, subject to a commitment to purchase domestically produced goods at a 
percentage that varies according to the age and type of the imported used goods.  
4.131.   The MFN tariff on oil and oil products ranges from 0% to 6 %, averaging 0.4% in 2020. Most 
tariff headings have a 0% tariff. Argentina levies other charges on the sale and import of liquid fuels, 
and on electrical power.138 In 2013, taxes on liquid fuels were on an ad valorem  basis, with a 
minimum amount. Starting in 2018, however, specific rates per litre were set, which are adjusted 
based on the consumer price index (CPI) (Section 3).139 
4.2.3.3   Gas industry  
4.132.   Natural gas production in Argentina is concentrated in four basins: Noroeste, Neuquina, Del 
Golfo and Austral. The n atural gas extracted is injected into the trunk pipeline system, which 
transports it to the areas of consumption. Two transport enterprises operate the pipelines: 
Transportadora de Gas del Norte (TGN) and Transportadora de Gas del Sur (TGS). Distribution i s 
carried out by nine distribution companies.140 Imports of natural gas do not require prior approval; 
exports, on the other hand, must be authorized by the National Executive, as long as domestic 
supply is not affected. The transport and distribution of na tural gas must be carried out by legal 
persons under private law by means of concession, licence or permit after selection by public tender. 
 
138 Laws No.  24.625 of 9 January 1996 and No.  27.730, and Decree No.  26/16.  
139 Law No.  27.430 of 29 December 2017.  
140 Information from ECOGAS. Viewed at: 
https://www.ecogas.com.ar/appweb/leo/inicio.php?sitio=empresa_industria . WT/TPR/S/412 • Argentina  
 
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 Concessions have a duration of 35 years. The State and the provinces, and their agencies or 
enterprises, can only p rovide transport and distribution services if there are no private bidders.  
4.133.   Law No.  24.076 and supplementary regulations and amendments govern the distribution 
and transport of natural gas. The National Gas Regulatory Authority (ENARGAS) attached to the 
Secretariat for Energy of the Ministry of Productive Development (MDP), carries out the functions of 
regulation, control, oversight and dispute resolution in relation to the public service of gas transport 
and distribution.141 ENARGAS is the entity in charge of approving tariffs for regulated services, 
promoting competitiveness, encouraging investments to ensure long -term supply, and promoting a 
better operation of natural gas transport and distribution services and facilities. Law No.  27.541 of 
20 December 20 19 empowered the National Executive to intervene in ENARGAS's administration for 
one year.  
4.134.   Law No.  26.020 of 9 March 2005 governs the regulatory regime for the processing and 
marketing of LPG and establishes that the activities that make up this industry a re of public interest. 
The production of LPG in any form is a deregulated activity, and producers can freely engage in 
exploration, extraction and sale activities. For the opening of new plants or the expansion of existing 
ones, only the relevant technical  regulations and the corresponding registration procedure must be 
complied with. In contrast, the transport and distribution of gas through networks are regulated 
public services, and authorized companies supplying these services are subject to the jurisdi ction of 
ENARGAS. Distributors are required to enrol with the corresponding register. Fractionation is 
permitted with the authorization of the Energy Secretariat. Fractionators may package LPG from any 
producer, seller or importer.  
4.135.   For each region and seas onal six -month period, ENARGAS fixes a reference price for LPG for 
domestic use in containers of up to 45 kg. This reference price is calculated to cover costs and a 
certain profit margin. The market rate charged to consumers for gas is obtained by adding together 
the following components: the price of the gas (production); the gas hold up; the cost of transport; 
distribution costs; and taxes, levies and charges.  
4.136.   Decree No.  470 of 30 March 2015 created the Households with Gas Bottles Programme 
("Hogar" prog ramme), the regulations of which were approved by Resolution No.  49 of 
31 March  2015 of the former Secretariat for Energy, which, together with its amendments, 
established the methodology for calculating maximum reference prices. Resolution No.  70 of 1 Apr il 
2015 of the former Secretariat for Energy, as amended, approved the maximum reference prices 
and compensations for producers of butane and propane for domestic use for 10 -, 12- and 15 -kg 
bottles, and the maximum reference prices for 10 -, 12- and 15 -kg LPG bottles for fractionators, 
distributors of packaged LPG and retailers.  
4.137.   In 2016, a policy aimed at the gradual reduction of gas subsidies through tariff updates 
began to be implemented. The Ministry of Energy and Mining (MINEM) instructed ENARGAS to carry 
out a transitional adjustment of gas transport and distribution tariffs and to perform the 
Comprehensive Tariff Review procedure within one year.142 A three -year subsidy reduction path was 
set for most of the territory, from October 2016 to October 20 19.143 In the case of Patagonia, La 
Pampa, La Puna and Malargüe, a six -year subsidy reduction was determined, from October 2016 to 
October 2022. Price adjustments will be made every six months. Exceptions to this are the social 
tariff, the consumption savin gs subsidy and the differential tariff.144 The first price adjustment came 
into effect in October 2016 and implied a reduction of the average gas price subsidy for residential 
and commercial users (SGP) of between 50% and 81% in general and of between 81% and 98% for 
Patagonia, La Pampa, Puna and Malargüe. The second reduction came into effect on 1 April 2017 
and reduced the average subsidy by between 45% and 50% in general and between 78% and 81% 
for Patagonia, La Pampa, Puna and Malargüe.145 
 
141 Information from ENARGAS. Viewed at: 
https://www. enargas.gob.ar/secciones/institucional/introduccion.php . 
142 MINEM Resolution No. 31 of 29 March 2016.  
143 MINEM Resolution No. 212 -E/2016 of 6 October 2016.  
144 Law No.27.218 of 22 December 2015 established a differential tariff for non -profit public welfare 
entities. Information from the Ministry of Social Development. Viewed at: 
https://www.argentina.gob.ar/desarrollosocial/cenoc/tarifa . 
145 MINEM Resolution No. 74 E/2017 of 30 March 2017.  WT/TPR/S/412 • Argentina  
 
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 4.138.   The social gas tariff is granted to vulnerable users. A Federal Social Tariff is also applied to 
the natural gas network service in favour of particularly vulnerable groups of users.146 In 2020, more 
than 1.8 million households were beneficiaries of the Federal Social Tariff (22.5% of users of the 
natural gas ne twork service) and more than 2.3 million (around 60% of consumers of LPG in bottles) 
received subsidies for the consumption of bottles through the Hogar programme. According to the 
authorities, the price path at the Point of Entry into the Transport System  (PIST), the Federal Social 
Tariff and the continuity of the Hogar programme are measures designed to work towards the 
ultimate goal of the energy policy, which is to supply the Argentine energy market at the lowest 
costs while protecting the most vulnerab le sectors.147 
4.139.   Law No.  27.541 (Official Journal of 23 December 2019) empowers the Executive to maintain 
natural gas tariffs under federal jurisdiction and to initiate renegotiation of the Comprehensive Tariff 
Review in force or to initiate an extraordinary review to reduce the current tariff burden on 
households, businesses and industries. Decree No.  1.020/2020 of 17 December 2020 established 
the initiation of a review process of the tariffs set under this law. The review process may not exceed 
a period of t wo years. The National Electricity Regulatory Authority (ENRE) and ENARGAS are in 
charge of the review process. Law No.  27.541 also calls on the provinces to adopt the policies to 
maintain tariff scales and creates a Trust Fund to assure the natural gas im ports required to satisfy 
national needs.  
4.140.   In recent years, ENARGAS has sought to adopt policies to make the gas market more 
competitive. The Strategic Plan 2019 -23 was launched in 2019, along with other strategic objectives, 
such as strengthening self -government – for which programmes were designed – and a new 
regulatory scheme for the granting of a new transport licence.148 
4.2.3.4   Taxation of the sector  
4.141.   Law No.  23.966 of 15 August 1991, as amended, regulates the taxation of liquid fuels, 
natural gas and oil. Law N o. 26.942, enacted on 17 June 2014, amended Law No.  23.966 and 
determined new ad valorem  rates, as well as specific minimum amounts below which the tax 
collected cannot fall, once the ad valorem  percentage on the price of the product has been applied.149 
The resulting tax on liquid fuels is a fixed amount per unit updated quarterly according to variation 
in the CPI. The Law authorizes the Executive to increase these amounts by up to 25% and to 
decrease them by up to 10%. The Executive decided to modify these  updates in 2019 and early 
2020, and to do so gradually.150 Thus, as of 1 January 2015, the rates for petroleum spirit and gas 
oil were reduced by 10%.151 
4.142.   Law No.  27.430 (Official Journal of 29 December 2017) amended Law No.  23.966 and 
established a tax on t he transfer of domestically produced and imported liquid fuels  and a tax on 
carbon dioxide (instead of natural gas).152 The taxes will apply until 31 December 2035 and must 
be paid on delivery of the product, issuance of the invoice or withdrawal of the fue ls for consumption. 
In the case of imported products, the tax is settled together with customs duties and VAT, which is 
 
146 MINEM Resolution No.  28 of 28 March 2016, updated by MINEM Resolution No.  219 of 
11 October  2016.  
147 MINEM, Secretariat for Hydrocarbon Resources, Under -Secretariat for Hydrocarbon Exploration and 
Producti on and Under -Secretariat for Tariff Policy, Precio de Gas Natural en el PIST , October 2017. Viewed at: 
https://www.argentina.gob.ar/sites/default/files/informe_tecni co_minem.pdf . 
148 ENARGAS (2020), Balance de Gestión 2019 . Viewed at: 
https://www.enargas.gob.ar/secciones/publicaciones/informes.anuale s.de.balance.y.gestion/  
informe.2019.php . 
149 The rates are as follows: 70% for petroleum spirit under 92 octane; 62% for petroleum spirit over 
92 octane or virgin petroleum spirit, natural or pyrolysis gasoline, solvent and turpentine; and 19% for gas oil, 
diesel oil and kerosene.  
150 Decree No.  607/19 of 30 August 2019 and its amendments Nos.  753/19, 798/19, 103/19, 118/20 
and 196/20 deferred the effects of the increase in the tax rates applicable to liquid fuels for the second quarter 
of 2019, for petroleum  spirit and gas oil.  It was decided that the full increase in question would take effect 
from 1 April 2020.  
151 Decree No.  2.579/2014 of 30 December 2014.  Viewed at: 
http://servicios.infoleg.gob.ar/infolegInternet/anexos/240000.244999/240292/norma.htm . 
152 Law No.  27.467 (Official Journal of 4 December 2018) establishes an exemption from the tax for 
imports of gas oil and diesel oil in 2019, so as to compensat e for peaks in demand intended to supply the 
electricity generation market.  WT/TPR/S/412 • Argentina  
 
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 levied at a general rate of 21% on the sales price of the fuels before tax. The VAT rate on LPG is 
10.5%, and 0% in Tierra del Fuego.  
4.143.   A carbon dioxide tax applies which was introduced to replace the natural gas tax. This tax is 
a fixed amount per unit of measurement, which is updated on a quarterly basis on the basis of CPI 
variations.153 The Law empowers the National Executive to increase the amounts of the tax by up to 
25%. For imported products, the tax is assessed together with customs duties and VAT. Products 
destined for export are exempt from the tax, as are those destined for use by aircraft for international 
flights and by vessels u sed for international transport or for fishing. Products to be used as raw 
material in chemical and petrochemical processes are also exempt from the tax, as is fuel oil intended 
as fuel for maritime cabotage services. Biofuels in their pure state are not s ubject to the tax.  
4.144.   The Water Infrastructure Tax is levied at a rate of 9% on the transfer or import of natural 
gas distributed by networks for use as fuel in motor vehicles, and at a rate of 5% for petroleum 
spirits.154 The Executive has the power to increa se or decrease these rates by up to 20%.155 The tax 
will be in force until 31 December 2035. A 22% tax also applies to the transfer or import of gas 
oil.156 The production and importation of petrol and natural gas are subject to a Water Infrastructure 
Tax of ARS  0.05 per litre of gasoline or cubic metre of gas.157 The Liquefied Petroleum Gas 
Fractionation Control Fee is ARS  8.00 per fractionated tonne, whether  the product is domestically 
produced or imported. The Secretariat for Energy may modify this rate by up to 20%.158 
4.145.   Hydrocarbon exports have been subject to export duties during almost the whole review 
period. Until 2014, the export duty on crude oils varie d according to the international price of oil.159 
Ministry of the Economy and Public Finance Resolution No. 1.077/2014 of 29 December 2014 set a 
tax that is defined using a formula calculated on the basis of an international reference price as of 
1 January  2015. The export duties on hydrocarbons ceased to apply between the beginning of 2017 
and September 2018, when they were reimposed. As of September 2018, National Executive (PEN) 
Decree No.  793/18 and Decree No.  865/18 imposed a tax on exports of, among ot her products, 
natural gas, propane, butane and natural gasoline, of ARS 4 per USD exported, to a maximum rate 
of 12%. However, since 23 December 2019, in accordance with the provisions of the Public 
Emergency Law, the rate may not exceed 8% of the taxable value or f.o.b. price. The collection of 
the duty may not affect the collection of royalties by the provinces. For propane gas (NCM 
2711.12.10 and 2711.12.90), butane in liquid state (NCM 2711.13.00), LPG (NCM 2711.19.10) and 
other liquefied gases (2711.19 .90), as well as for butane in gaseous state (2711.29.10) and others 
also in gaseous state (2711.29.90), an export duty is currently applied (in 2021) according to the 
rate determined by Decree No.  488 of 19 May 2020, which establishes a minimum of 0% and a 
maximum of 8%.160 Although by provision of the Customs Code the duty itself does not form part 
of the tax base for the purposes of its calculation, while Decree  No. 793/18 was in force the taxable 
value established for duty calculation purposes had to be added, in accordan ce with the amendment 
introduced by Decree No.  865/18. This ceased to apply from the end of 2019.  
4.2.3.5   Incentives for the hydrocarbons industry  
4.146.   Decree No.  929/2013 (Hydrocarbon Sovereignty) of 11 July 2013 established the Investment 
Promotion Regime for Hydroca rbons Exploitation, whose priority objective is to achieve hydrocarbon 
 
153 This was set in 2017 by Law No.  27.430 at: ARS 0.412/litre for unleaded petroleum spirit, virgin 
petroleum spirit, natural or pyrolysis gasoline, solvent and turpentine; ARS 0.47 3/litre for gas oil, diesel oil and 
kerosene; ARS 0.519/litre for fuel oil; ARS 0.557/kg for petroleum coke; and ARS 0.429/kg for coal.  
154 Law No.  26.181, approved on 19 December 2006.  
155 Decree No.  2.579/2014, Official Journal of 31 December 2014.  
156 Law No.  26.028, approved on 5 May 2005. Viewed at: 
http://servicios.infoleg.gob.ar/infolegInternet/anexos/105000.109999/106099/texact.htm . 
157 Decrees Nos.  1.381 of 1 November 2001, No.  652/2002 of 19 April 2002 and No. 652/2002, as well 
as Law No.  27.431, Official Journal of 2 January 2018.  
158 Article 39 of Law No.  26.020 of 9 March 2005. Viewed at: 
http://servicios.infoleg.gob.ar/infolegInternet/anexos/105000.109999/105181/texact.htm . 
159 Ministry of the Economy and Production Resolution No.  394/2007 and amendments thereto.  
160 For the purposes of calculating the export duty rate, the following values were set for "ICE Brent first 
line": (a) base value (BV): USD 45/bbl; (b) reference value ( RV): USD 60/bbl; and (c) international price (IP): 
ICE Brent first line, average of the last five published prices. A rate of 0% was established in cases where the 
IP is equal to or lower than the BV; a rate of 8% applies where the IP is equal to or higher  than the RV. Where 
the IP is higher than the BV and lower than the RV, the tax rate is determined according to the following 
formula: Rate =((IP -BV)/(IP -RV))x 0.08.  WT/TPR/S/412 • Argentina  
 
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 self-sufficiency by increasing the investments and resources employed in this sphere. To benefit 
from the Regime, undertakings must be registered with the National Registry of Hydrocarb on 
Investments and hold exploration permits and/or hydrocarbon exploitation concessions and/or be 
third parties associated with such holders. In addition, an investment of at least USD  250 million 
must be committed during the first three years of the proje ct. As of the third year of project 
implementation, beneficiaries may freely sell 20% of the production of liquid and gaseous 
hydrocarbons produced on the foreign market with a 0% export duty rate. They can also enjoy the 
free disposal of 100% of the forei gn currency resulting from the hydrocarbon exports. In the case 
of sale on the domestic market, the beneficiaries will have the right to obtain a price not lower than 
the reference export price and to dispose of 100% of the corresponding foreign currency. The 
benefits are for an indefinite time period, and cease only with the expiry of the term of the 
exploitation concession in question.  
4.147.   Decree No.  927/2013 of 8 July 2013 grants tariff reductions on a list of capital goods for the 
implementation of the inve stment plans of enterprises enrolled in the Register of Petroleum 
Companies. The initial list was amended by Decree No.  629/2017 (Official Journal of 10 August 
2017).161 This Decree established the Regime for the Import of Used Goods for the Hydrocarbons 
Industry. To engage in imports under this Regime, an import certificate is required from the 
Under -Secretariat of Industry of the MDP, which takes into consideration local capacity to supply 
goods with similar characteristics. If such capacity exists, the in terested party must commit to the 
acquisition of new goods of national origin for an amount equal to or greater than a percentage of 
the total value of the imported used goods acquired under the Regime. For the used goods under 
the tariff headings listed i n Annex I(a), which are one or two years old, the percentage of new goods 
of national origin to be acquired in relation to the value of the imported used goods is 15%;162 for 
those that are three or four years old, the percentage is 20%; for goods that are five or six years 
old, 25%; for those that are seven or eight years old, 40%; and for goods that are nine or 10 years 
old, 60%. If these requirements are met, the goods in Annex I(a) may be imported at a duty rate 
of 0%. In the case of used goods covered b y the tariff headings in Annex I(b), the percentages are: 
30%; 40%; 50%; 70%; and 80%, respectively.163 If these requirements are met, the goods under 
the NCM tariff headings listed in Annex I(b) may be imported at a duty rate of 7%. Used goods 
under the ta riff headings listed in Annex I(c) do not require a commitment to purchase new goods 
of national origin and are subject to a duty rate of 7%.164 
4.148.   Between December 2014 and January 2018, a price support policy known as "Barril Criollo" 
was implemented, which consisted of guaranteeing petroleum producers a price higher than the 
international price. It is estimated that, during this period, an average of USD  60 was paid for a 
barrel of local oil.  
4.149.   Between 2008 and 2015, the "Petróleo Plus" programme165 was in forc e, which had the 
objective of increasing crude oil production and encouraging the incorporation of new reserves. 
Beneficiary enterprises received a refund on the oil export duty paid through tax credit certificates 
for production above a baseline productio n, calculated on a historical basis. The certificates could be 
used to pay export duty. If the international price rose above USD  60.90/barrel, a duty reduced by 
8% was payable on basic production and by 55% on additional production, whereas if the 
interna tional price was equal to or below USD  60.90/barrel, a duty reduced by 10% was payable on 
basic production and by 70% on additional production.166 Decree No.  1.330/2015 of 6 July 2015 
 
161 It contains a list of new goods and a list of used goods. The list of new goods includes  the following 
NMC tariff headings (tariff rate in brackets): 7304.23.90 (0%); 834.50.90 (0%); 8421.39.90 (14%); 
8430.49.20 (0%); 8474.10.00 (0%); 8479.89.99 (0%); 8502.13.19 (0%); 8705.20.00 (0%); and 9406.00.92 
(14%). The list of used goods contains NCM tariff headings 7304.23.90 (0%) and 9406.00.92 (14%).  
162 Annex I(a) includes the following NCM tariff headings: 8413.50.10; 8413.50.90; 8430.49.20; 
8474.10.00; 8479.82.10; 8479.89.99; 8481.30.00; 8481.40.00; 8481.80.92; 8481.80.93; 8481.80.99; 
8502.13.19; 8705.20.00; 8705.90.10; 8705.90.90; 8716.31.00; and 8716 .39.00.  
163 Annex I(b) includes 35 tariff headings from NCM Chapter 84 and 12 tariff headings from Chapter 85.  
164 Annex I(c) includes the following NCM tariff headings: 8701.20.00; 8705.10.90; 9015.90.90; 
9026.10.19; 9026.20.90; 9026.80.00; 9026.90.90; 9027. 80.99 (other than apparatus for determining 
hemodynamic parameters); 9027.90.99; 9030.10.10; 9030.33.90; 9030.90.10; 9030.90.90; 9031.80.91; 
9031.90.10; 9031.90.90; 9032.89.84; 9032.89.89; 9032.89.90; and 9032.90.99.  
165 Established by Decree No.  2.014/08 o f 25 November 2008 and regulated by Resolution 
No. 1.312/2008 of 1 December 2008.  
166 For example, if the rate of export duty was 25%, basic production (BP) 100,000 barrels and 
additional production (AP) 50,000, the duty payable was [(0.92)*0.25/(1+0.25)], c orresponding to 11.5% on 
BP, and [(0.45)*0.25/(1+0.25)], corresponding to 5.63% on AP.  WT/TPR/S/412 • Argentina  
 
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 repealed the "Petróleo Plus" programme.  Alongside that programme, the "Re finación Plus" 
programme was implemented, which targeted projects for new refineries or for the expansion of the 
refining capacity of existing facilities. The incentive consisted of a reduction in export duty through 
the use of a tax credit certificate. This programme has not been repealed . 
4.150.   The Special Regime for Small Refiners (REFIPYME) with a maximum monthly refining 
capacity of 30,000 m3/month or less was in force until 2016.167 The incentive consisted of the 
granting of tax credit certificates for the d ifference between the export duty in force and the export 
duty at a rate of 5%. The scheme only applied if international oil prices were below USD  80/barrel. 
Ministry of Energy and Mining (MEM) Decree No.  1204/2016 of 29 November 2016 repealed the 
REFIPYME . The Crude Oil Production Stimulus Programme (Resolution No.  14/2015), in force 
between 1 January and 31 December 2015, granted production incentives (up to USD  3 per barrel) 
and export incentives (up to USD  2 per barrel exported above the levels of the b ase year 2014).  
4.151.   During the review period, the "Gas Plus " programme also continued to be implemented to 
encourage new projects to produce natural gas for the domestic market.168 To benefit from the 
programme, the producer had to have signed the Agreement with Natural Gas Producers169 and 
comply with the delivery commitments set out therein . In May 2016, it was established that no new 
projects could be submitted under the "Gas Plus " programme, but that projects already approved or 
about to be approved would remain in force.170 During the review period, Argentina also 
implemented other programmes to stimulate natural gas production, such as "Plan Gas", the 
Stimulus Programme for New N atural Gas Projects and "Plan Gas No Convencional". "Plan Gas" was 
established as of December 2012 for five years to promote projects that would contribute to the 
national gas supply. The State undertook to pay monthly compensation for the difference betwe en 
a negotiated price (USD  7.5/million btu) and the price actually received.171 Compensation was paid 
in the form of a natural gas plan bonus ("Bono Plan Gas Natural"). The stimulus programmes for 
Excess Natural Gas Injection and Excess Natural Gas Injectio n for Companies with Reduced Injection 
offered similar incentives.172 
4.152.   The Stimulus Programme for New Natural Gas Projects, established in 2016,173 applied to 
projects implemented until 31 December 2018 by hydrocarbon exploitation companies with 
concessions o r by producers associated with the concessionaire and entitled to natural gas 
production under new natural gas projects linked to concessions for the exploitation of tight gas or 
shale gas fields.174 The beneficiary companies received an incentive price of USD 7.5/mmbtu in local 
currency for the purchase and sale of natural gas produced in the areas included in the new natural 
gas projects approved under the Programme. These companies could freely dispose of the natural 
gas produced under the Programme and a gree on the price with the purchasing party. The State 
offered the beneficiary companies compensation for the difference between the incentive price and 
the price received by the companies.  
4.153.   "Plan Gas No Convencional" is an investment incentive programme fo r the production of 
natural gas from non -conventional reserves in the Neuquina Basin, in force between March 2017 
and 31 December 2021.175 The incentive consists of a compensation mechanism for the volume of 
non-conventional gas, calculated on the basis of a guaranteed minimum price and the total 
volume -weighted average price of sales to the domestic market of each company. The minimum 
price was set at USD  7.5/mbtu for 2018, decreasing by USD  0.5/mbtu per year to reach 
USD 6.0/mbtu by 2021. Projects that ach ieve an average annual production of 500,000 m3 per day 
 
167 Included in Annex I of the Resolution of the former Ministry of the Economy and Production No.  394 
of 15 November  2007.  
168 Established by SE Resolution No.  24/2008 of 6  March 2008.  
169 SE Resolution No.  599 of 13 June 2007.  
170 Resolution No.  74/2016 of 18 May 2016 of the Ministry of Energy and Mining.  
171 Resolution No.  139/2014 of the Ministry of the Economy and Public Finance. Amendment to 
Resolution No.  60/2013.  
172 Resoluti on No.  1/2013 of 18 January 2013 of the Planning and Strategic Coordination Commission for 
the National Hydrocarbons Investment Plan created the Stimulus Programme for Surplus Natural Gas Injection. 
Resolution No.  60/2013 of 29 November 2013 established th e Stimulus Programme for Natural Gas Injection 
for Companies with Reduced Injection.  
173 Ministry of Energy and Mining Resolution No. 74/2016 of 18 May 2016.  
174 Defined in the Law as gas reserves characterized by the presence of highly compacted sandstones or  
clays of low permeability and porosity, which prevent the fluid from migrating naturally, meaning that 
commercial production is only possible through the use of advanced technologies.  
175 Resolution of the former Ministry of Energy and Mining No.  46/2017.  WT/TPR/S/412 • Argentina  
 
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 or more for 12  months before 31 December 2019 can obtain the floor price on their entire 
non-conventional production. For projects under development, only the incremental quantity over 
the defined ini tial production will be eligible to benefit from the initiative.176 "Plan Gas  
No Convencional" was extended to the Austral Basin.177 
4.154.   Decree No.  892/2020 of 13 November 2020, Plan for the Promotion of Argentine Natural Gas 
Production - Supply and Demand Schem e 2020 -24, declared that promoting Argentine natural gas 
production was in the national public interest. The Plan aims to increase the viability of investments 
for the production of natural gas, promote the development of the domestic aggregate in the valu e 
chain of the entire gas industry, and replace imports of LNG. The Plan has a duration of four years, 
from 2021 to 2024, or up to eight years for offshore projects, and applies to a total base volume of 
70 million  m3 per day, of which up to 11  million  m3 per day can be exported on preferential terms. 
The allocation of volumes to each producer is made by public tender, and priority is given to the 
lowest bidder. The Plan has a compensation system whereby the State pays each producer the 
differential between  the price invoiced to distributors and/or sub -distributors and the price offered 
(multiplied by a seasonal factor). The initial objective of the Plan is to complement the stimulus 
programme provided for in the "Plan Gas No Convencional", and to eventually  replace that Plan 
when it ends in January 2022.  
4.155.   Law No.  26.093 of 19 April 2006 established the Regulation and Promotion Regime for the 
Sustainable Production and Use of Biofuels, which is valid for 15 years from its approval. Biofuel 
industry projects in Argentina owned by companies incorporated in the country and authorized 
exclusively for the development of the activity promoted by the Law may benefit from VAT and 
profits tax exemption for the acquisition of capital goods or the execution of infrastructure works 
corresponding to a project, for the duration of the Regime. Biodiesel and bioethanol produced by the 
holders of approved projects are not subject to the Liquid Fuels and Natural Gas Tax. The estimated 
tax expenditures for the applicati on of the benefits of Law No.  26.093 were ARS  9,635.0 million in 
2017, ARS  7,484.7 million in 2018, ARS  10,846.2 million in 2019 and ARS  8,842.3 million in 2020. 
Most of this corresponds to benefits paid out for the Fuel Tax (Law No.  23.966).  
4.156.   During the re view period, Argentina has continued to implement programmes and 
mechanisms to subsidize LPG consumption in areas with lower resources or supply difficulties, 
through mechanisms such as the Trust Fund for Residential Gas Consumption Subsidies.178 The Fund 
is constituted with a surcharge of up to 7.5% on the price of natural gas at the PIST. Resolution 
No. 312/2019 of the Secretariat for Energy (Official Journal of 3 June 2019) established a surcharge 
equivalent to 4.46% of the price of natural gas at the PIS T as of 1 June 2019. ENARGAS, by means 
of Resolution No.  332/2019 of 7 June 2019, readjusted the percentage and instructed distributors 
to invoice a surcharge of between 4.46% and 4.79%.179 
4.2.4   Electricity  
4.2.4.1   Characteristics of the sector  
4.157.   Argentina's installed electricity generation capacity in 2020 was 41,951  MW, of which 
25,365  MW (60.5% of the total) originated from thermal sources (natural gas, gas oil and fuel oil), 
10,834  MW (25.8%) from hydroelectric plants, 1,755  MW (4.24%) from nuclear plants,  and 
3,997  MW (9.5%) from renewable sources.180 The average availability of thermal facilities was 
82.6% in 2020. Total supply in 2020 was 135,375 GWh, of which 60.8% came from thermal sources, 
21.5% from hydroelectric sources, 7.4% from nuclear power, 9.4%  from renewable sources and 
0.9% from imports. Energy from renewable sources expanded by 63.7% in 2020 compared to the 
 
176 Resolution No. 419/2017 of the Ministry of Energy and Mining , Official Journal  of 2 November 2017.  
177 Resolution No. 447/2017 of the Ministry of Energy and Mining, Official Journal of 17 November 2017 .  
178 Law No.  25.565 of 6 March 2002, regulated by Decree No.  786/2002. The Fund was created for a 
period of 10 years; Article 69 of Law No.  26.546 (Official Journal of 27 November 2009) extended the life of 
the Fund for another 9 years, from the 2012 budget year to 2020 (inclusive).  Likewise, Article 67 of Law 
No. 27.591 of 14 December 2020 (Budget of the National Public Administration) extended this term for a 
further year to cover the entire budget year of 2021.  
179 AFIP General Resolution No. 4.232 of 26 April 2018. Viewed at: 
http://servicios.infoleg.gob.ar/i nfolegInternet/anexos/305000.309999/309593/norma.htm . 
180 CAMMESA (2020), Informe Anual 2019 . Viewed at: 
https://cammesaweb.cammesa.com/?wpdmdl=36401 .  WT/TPR/S/412 • Argentina  
 
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 previous year.181 Demand, on the other hand, was 127,306 GWh in 2020, of which 47.1% was 
demand for residential consumption, 27.5% was int ermediate demand, and 25.3% was demand 
from large users.  
4.158.   The Argentine network is interconnected to the Brazilian, Paraguayan, Uruguayan and 
Chilean electricity grids. Two of the largest hydroelectric stations are bi -nationally owned: one by 
Argentina and Paraguay (Yacyretá); and the other by Argentina and Uruguay (Salto Grande). 
Although Argentina covers most of its energy supply needs through self -generated power, it trades 
in electric energy with its neighbouring countries. Thus, in 2020 Argentina export ed electricity to 
Brazil and Uruguay and imported energy from Uruguay and Paraguay. Argentina has three nuclear 
power plants. The electricity sector is characterized by the presence of private enterprises in the 
field of generation. The majority of hydroel ectric power stations are operated under concessions of 
the State or provincial states that are mostly given to private firms. Electricity sector policy is 
intended to promote sustainable development and encourage the use of renewable energy.  
4.159.   Argentina has  a National Electrical Power Fund (FNEE), created in accordance with Law 
No. 15.336 of 22 September 1960 and administered by the Federal Electrical Power Council (CFEE). 
The FNEE is financed by a surcharge on end consumers, i.e. electricity distribution co mpanies and 
large users. The amount of the surcharge was updated in April 2021 and amounts to 
ARS 160/KWh.182 Currently, 50% of the funds collected by the FNEE are allocated to the Trust Fund 
for Federal Electrical Transport, 30% to the Subsidiary Fund for Regional End -User Tariff 
Compensation and the remaining 20% to the Fund for the Development of Electricity in the Interior.  
4.2.4.2   Regulatory framework and functioning of the market  
4.160.   The Secretariat for Energy (SE), currently attached to the Ministry of the Econom y, is 
responsible for the formulation and implementation of policies for the electricity sector. The sector 
is regulated by the National Electricity Regulatory Authority (ENRE), a self -governing body under 
the jurisdiction of the SE. ENRE follows the guide lines of national energy policy with respect to 
electricity supply, transport and distribution, regulates activity in the electricity sector and monitors 
to ensure that the concessionary companies under national jurisdiction (EDENOR and EDESUR 
distributors  and the eight transport companies) comply with the obligations established in the 
regulatory framework and in their concession contracts. ENRE is empowered to issue general rules, 
apply sanctions and resolve disputes between users and concessionaires, and  between wholesale 
electricity market agents.183 Provincial distributors are regulated by their respective provincial 
authorities.  
4.161.   Law No.  24.065 of 16 January 1992 (Electrical Power Framework Law) and its implementing 
regulations, Decree No.  1.398/92, and the amendments thereto (Law No.  15.336) constitute the 
main legal framework for the electricity sector in Argentina. Law No.  24.065 introduced electricity 
reform, including the division of the electricity sector into segments, and provided for the partial or 
full privatization of each segment. At the same time, the Law seeks to increase the degree of 
competition and competitiveness of the sector by imposing limits on mergers and prohibiting vertical 
integration but not cross holdings, unless they are majori ty shareholdings, between generators and 
distributors. Both the export and import of electrical power must receive prior authorization from 
the SE. The main resolutions relating to the electricity sector have been compiled in a compendium 
that can be consu lted online.184 
4.162.   The Argentine electricity sector is divided into three segments – generation, distribution and 
transport – each with its own special features. The Law describes electricity transport and distribution 
as a public service. It also stipulates t hat priority for providing both of these must be given to private 
legal persons operating under concessions, although it authorizes the State, either on its own or 
through any of its bodies or dependent companies, to provide such services if there are no c andidates 
 
181 CAMMESA ( 2021) Resumen Ejecutivo Principale s Variables MEM  Año 2019 vs 2020 . Viewed at:  
https://cammesaweb.cammesa.com/2021/01/20/variables -relevantes -del-mem-resumen -anual -2020. 
182 Secretariat for Energy Resolution No.  204/2021. Viewed at: 
http://servicios.infoleg.gob.ar/infolegInternet/anexos/345000 -349999/347979/norma.htm . 
183 Information from ENRE. Viewed at: https://www.argentina.gob.ar/enre/quienes.somos . 
184 Procedimientos para la Programación de la Operación, el Despacho de Cargas y el Cálculo de Precios , 
Unofficial C ompilation of Resolutions of the former Secretariat for Electrical Energy ( SEE) 61/92 and 
amendments thereto. Updated to 31 May 2019. Viewed at: 
https://aplic.cammesa.c om/guias/procedimientos/Los%20Procedimientos.pdf . WT/TPR/S/412 • Argentina  
 
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 or concession holders. Generation, in any of its modalities, whether wholly or partially destined to 
supply energy to a public service, is considered to be of general interest. As a result of the reform, 
the participation of the State was redefin ed; it withdrew from its role as an entrepreneur in the 
sector and maintained the functions of defining policies, developing infrastructure, supervision and 
regulation.185 
4.163.   The actors participating in one segment of the electricity chain are disqualified fro m 
intervening at another stage. Following the reorganization of the sector in 1992, a wholesale 
electricity market (MEM) was established. Producers, transporters, distributors, large users and 
sellers all participate in this market. Law No.  24.065 authoriz es generators to conclude supply 
contracts directly with distributors and large users or to sell energy on the market. Although all 
activities in the electricity sector are open to private -sector participation, the degree of regulation 
and competition diff ers according to the segment concerned. For example, the end -user market is 
regulated, but the large -user market is open to competition. In the regulated segment, the 
distributor holding the concession is guaranteed a monopoly, but must satisfy all the dem and that 
it is required to meet under the terms of the concession contract. Tariffs are regulated in this 
segment. Large users are agents of the MEM and therefore free to procure electricity on the market 
at the price determined by the latter. Due to their  monopolistic characteristics, the activities of 
electricity distribution and transport are subject to regulation and additionally require the granting 
of concessions. Transport companies must ensure the free access of third parties to the network, 
which m ust also be guaranteed by distributors as long as they have available capacity in their 
distribution network. Transport concessionaires are not obliged to invest in expansions; the 
expansion of the transport network is subject to market mechanisms. Since t he authorities noted 
that this mechanism displayed weaknesses as no new high -voltage lines were installed, tools were 
developed at the State level to make up for the lack of private investment.  
4.164.   Generating companies are subject to a concession regime only i f they operate hydroelectric 
power stations and when capacity exceeds 500 kW. Thermal power plants require authorization only 
to connect to the grid and are regulated only in terms of public safety and environmental protection. 
At the beginning of 2021, th ere were around 400 power -generating agents. SE Resolution 
No. 95/2013 established an average cost remuneration for generators with old or depreciated power 
plants. SE Resolution No. 31/2020 is currently in force. For new plants, supply contracts were sign ed 
with the Wholesale Electricity Market Management Company (CAMMESA).  
4.165.   Concessions must be obtained for the distribution and transport of electricity in the regulated 
segment under Federal jurisdiction. Concessions are for 95 years, subdivided into five -year tariff 
periods and 10 -year management periods, after which the renewal of the concession is assessed. 
Contracts include an initial tariff scale valid for five years, adjustable under a system of maximum 
prices fixed by ENRE, which must be applied by tra nsporters and distributors. Distributors are 
prohibited from making use of cross -subsidies between categories of their users, resorting to price 
discrimination or denying interested users access to facilities. Currently (in 2021), 77 distributors 
are regis tered, of which two distribution companies (EDENOR and EDESUR) account for more than 
a third of demand as they have the concession in the areas of federal jurisdiction, the Autonomous 
City of Buenos Aires and Greater Buenos Aires.  
4.166.   The concession contracts with EDENOR186 and EDESUR187, signed in 1992, grant those 
companies the concession for public service in their respective areas of operation for a term of 
95 years with exclusive rights over their zones, for management periods of 10 years each, following 
an initial period of 15 years. The two distributors have their own tariff regime, which is reviewed 
every five years. One year before the end of each period, each distributor must submit a proposal 
for a new tariff regime and tariff scale to ENRE.188 The most recent tariff regime for the companies 
EDENOR and EDESUR was approved in 2017 for a five -year period until the end of 2021, by ENRE 
 
185 Information from CAMMESA. Viewed at: 
https://portalweb.cammesa.com/Pages/Institucional/defaultinstitucional.aspx .  
186 The EDENOR concession contract may be viewed at: 
https://www.argentina.gob.ar/sites/default/files/edenor_contratoconcesion_actualizacion110219.pdf .  
187The EDESUR concession contract may be viewed at: 
https://www.argentina.gob.ar/sites/default/files/edesur_contratoconcesion_actualizacion120219.pdf .  
188 Distributors must pay the municipality where they operate 6% of the gross revenues they collect 
from all income associated with the business of se lling electricity within the municipality. The distributor takes 
the amount corresponding to this contribution into account when billing users, applying a rate of 6.383% for 
the Autonomous City of Buenos Aires and 6.424% for the municipalities of the Provi nce of Buenos Aires.  WT/TPR/S/412 • Argentina  
 
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 Resolutions No.  63/2017 and 64/2017, respectively. This Regime is currently under review within 
the framework of Emergency L aw No.  27.541 of 2019. Users are classified according to their 
demand. Small users pay a fixed monthly fee and a variable charge based on the monthly energy 
consumed. There is also a Social Tariff Regime, whereby each jurisdiction (the Province of Buenos 
Aires and the Autonomous City of Buenos Aires) defines the electricity tariff that applies according 
to the socio -economic conditions of residential users.189 
4.167.   In the electricity transmission segment, there are eight concessionary companies all under 
federal jurisdiction (one high -voltage and seven trunk distributors) and agents called "independent 
transporters". Some 95% of the electricity transported at high voltage is the responsibility of a single 
joint venture company, TRANSENER.190 Transmission at  lower voltages is carried out by seven trunk 
distributors. The transmission system consists of 14,738 km of high -voltage lines and 20,296 km at 
lower voltages (mostly 17,646 km of 132 kV lines). TRANSENER is responsible for the operation and 
maintenance o f more than 10,500 kilometres of 500 -kV transmission lines, while independent 
transporters operate and maintain the rest of the high -voltage lines under TRANSENER's supervision. 
The rest of the system is operated by the trunk distributors.  
4.168.   The administrati on of the MEM is the responsibility of the Wholesale Electricity Market 
Management Company (CAMMESA), a privately managed company of public interest created by 
Decree No.  1.192 of 10 July 1992 on the bases of the Load Dispatching Committee. CAMMESA's 
share holding is 80% owned by agents of the MEM; this percentage is made up in equal parts by 
generators, transporters, distributors and large users, each with a 20% shareholding. The remaining 
20% is held by the State through the Ministry of Energy, which repre sents the general interest.  
CAMMESA's main purpose is the technical and economic dispatching of the National Integrated 
System (SIN) or Argentine Interconnection System (SADI),191 organizing the supply of demand at 
the minimum cost compatible with the volum e and quality of the available energy supply.  
4.169.   CAMMESA is the entity responsible for coordinating technical and economic dispatching 
operations, determining wholesale prices and handling economic transactions through SADI. 
CAMMESA administers the MEM, super vises the operation of the forward market operation, and plans 
the operation of the SADI for half yearly seasons in order to cover demand with a level of reserves 
agreed between the parties (economic load dispatching). CAMMESA's activities are deemed to be  of 
national interest; thus, the provinces may not take action or impose taxes that might affect 
CAMMESA's corporate purpose.  CAMMESA acts as the agent for various actors in the MEM for 
dispatching power and energy, using the transport facilities. It also handles collections, payments 
or accreditations of transactions between the actors of the MEM.  The sale of energy from bi -national 
energy projects is carried out through the state -owned company Integración Energética Argentina 
S.A. (IEASA).  
4.170.   All electricity is channelled through the MEM, which connects the agents that participate in 
the system. The system's dispatching centre is the Ezeiza node, which serves as the reference point 
when setting generation costs. CAMMESA administers and is in charge  of the integral management 
of the Commercial Measurement System (SMEC), which is responsible for measuring the electricity 
exchanges between the different agents of the MEM. Consumers of electric power linked to the SADI 
may purchase the power to meet the ir demand in two ways: through the distributor in their area 
(traditional method) or directly from a recognized MEM generator or dealer. If the second alternative 
is chosen, the user must comply with the conditions required to enter the MEM as a large user  agent 
in that market.192 
 
189 Law No.  27.469 (Official Journal of 4 December 2018), which approved the Fiscal Consensus signed 
on 13 September 2018 by the National Executive and the provinces and the Autonomous City of Buenos Aires, 
established that the guideline s of the electricity social tariff regime in force as at 31 December 2018 would 
continue as of 1 January 2019.  
190 TRANSENER S.A. is the holder of the concession contract granted by the State by means of Decree 
No. 2.743/1992 of 29 December 1992, and Decree No.  1.501/1993 of 16 July 1993; with the modifications 
introduced by Decree No.  1.462/2005.  
191 The SADI consists mainly of overhead lines and substations and covers 90% of Argentine territory. 
Almost all of the 500 -kV transmission lines belonging to the SADI are operated by TRANSENER. The SADI is 
connected to the distribution system and large users through supply poi nts. There are also interconnections 
between the SADI and the transmission systems of neighbouring countries.  
192 The MEM's Large Users fall into three categories: (a) major large users (GUMA), with power demand 
for own consumption at each physical connect ion point greater than or equal to 1  MW; (b) smaller large users WT/TPR/S/412 • Argentina  
 
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 4.171.   In the forward market (MAT), customers buy their energy from generators, with whom they 
sign a contract that establishes quantity, prices and conditions, freely agreed between sellers 
(producers and/or marketers) and buyers (distri butors and large users). CAMMESA is the dispatching 
implementing agency. Real -time dispatch by the electricity system is carried out at marginal cost.  
If large users take out a contract directly with generators, they must pay a toll fee to the transporter 
and/or distributor involved in transmission. The authorities have noted that the forward market 
between agents is currently largely replaced by the action of CAMMESA as a single buyer. Energy 
and power not traded through the forward market are traded throu gh the spot market, which is used 
by distributors and large users to buy energy from generators. Prices are set by hour according to 
the short -term marginal cost of production measured at the system's dispatching centre. The prices 
applicable to spot marke t purchases are set quarterly with the approval of the Secretariat for Energy.  
4.172.   Law No.  24.065 requires distribution companies to buy power on the market at a stabilized 
(predetermined) seasonal price. CAMMESA submits operation plans and the associated ener gy, 
power and transport costs to the Secretariat for Energy for consideration on a quarterly basis. The 
Secretariat approves the seasonal prices according to the percentage of generation and transport 
costs that it deems appropriate to pass on to customers . The seasonal price, which is applied in four 
categories according to demand, has been systematically subsidized by the State since 2002. 
According to the authorities, overall in 2020 the tariff paid by customers covered about 50% of the 
total cost, while  the remaining balance was met with subsidies. Electricity distributors and generators 
pay transporters a fixed fee per connection and according to the transport network's  capacity; they 
also participate in reactive power transactions.  
4.173.   Decree No.  134 of 16  December 2015 declared an emergency in the national electricity 
sector until 31 December 2017 and instructed the former MINEM to design, put into effect and 
implement a programme of actions in relation to the generation, transport and distribution segment s 
of electricity under national jurisdiction so as to adapt the quality and security of electricity supply 
and ensure the provision of public electricity services under appropriate technical and economic 
conditions. Since 2016, new energy, power and transp ort prices have been enacted with the aim of 
gradually bringing the price paid by demand closer to the cost of generation. To this end, several 
Resolutions were enacted.193 At the same time, the Social Tariff was created to protect users with 
lower incomes and, in turn, lower consumption levels. The price of energy purchased by public 
electricity distribution service providers for eligible users (with consumption of less than 150 kWh 
per month) was reduced by up to 100%. MINEM Resolution No.  219/2016 and ame ndments thereto 
defined the eligibility conditions for the Social Tariff.194 
4.174.   Meanwhile, ENRE established and approved new tariff scales as of 1 February 2016 for 
EDENOR S.A. and EDESUR S.A.195 EDENOR S.A. and EDESUR S.A. were also instructed to suspend 
the application of the additional charges for excess consumption contemplated in the Programme for 
Rational Use of Electric Power (PUREE), and this programme was abolished. In April 2016, ENRE 
approved the 2016 Distribution Tariff Review Programme, which establ ished the criteria, 
methodology and work plan for the Comprehensive Tariff Review (RTI) process to be conducted by 
EDENOR and EDESUR.196 ENRE approved the 2016 Electricity Transport Tariff Review programme by 
means of Resolution No.  524 of 28 September 2016 . ENRE Resolutions Nos.  63/2017 and 64/2017, 
both published in the Official Journal of 1 February 2017, approved the distribution costs resulting 
from the RTI of EDENOR and EDESUR, respectively. ENRE Resolution No.  66/2017 approved the 
remuneration for the  extra-high voltage electricity transport service under national jurisdiction 
(TRANSENER).  
 
(GUME), with a power demand for own consumption greater than or equal to 30 kW and less than 2,000 kW, 
and contracting all their energy in the MEM; and (c) individual large users (GUPA), with  a power demand for 
own consumption greater than or equal to 30 kW and less than 100 kW, when such users contract 100% of 
their electricity demand with a recognized MEM generator.  
193 MINEM Resolution No.  6 of 25 January 2016; SEE Resolution No.  41 of 25 Apr il 2016; SEE Resolution 
No. 384/2016 of 27 October 2016; SEE Resolution No.  20/2017 of 27 January 2017; SEE Resolution 
No. 256/2017 of 28 April 2017; SEE Resolution No.  979/2017 of 1 November 2017; SEE Resolution No. 1.091 
of 30 November 2017; SGE Resoluti on No. 366 of 2 January 2019; and SRRyME Resolution No.  14 of 
29 April 2019.  
194 Annex I of MINEM Resolution No.  219/2016 contains the eligibility criteria for beneficiaries of the 
Social Tariff.  
195 ENRE Resolution No.  1/2016 of 29 January 2016.  
196 ENRE Resolu tion No.  55/2016 of 1 April 2016.  WT/TPR/S/412 • Argentina  
 
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 4.175.   The tariff readjustment process was suspended as a consequence of the economic crisis that 
began in 2018 and deepened during 2019. Law No.  27.541 (Official Journal o f 23 December 2019) 
empowered the National Executive to maintain electricity tariffs under federal jurisdiction and to 
initiate a process of renegotiation of the Comprehensive Tariff Review to reduce the real tariff burden 
on households, businesses and ind ustries by 2020. The provinces were also invited to adopt these 
policies of maintaining tariff scales and renegotiating or revising the tariffs of the provincial 
jurisdictions on an extraordinary basis. The Law empowered the National Executive to intervene  in 
ENRE's administration for one year and maintained the competence of the Executive Power over the 
public energy distribution service of EDENOR and EDESUR during the emergency.197 In this 
framework, Decree No.  1.020/2020 established guidelines for the tar iff renegotiation process of the 
public electricity transport and distribution services.  
4.2.4.3   Incentives for the energy sector  
4.176.   Argentina maintains programmes to promote efficient energy use, such as the National 
Programme for Rational and Efficient Use of Energ y or PRONUREE (PE Decree No.  140/2007 of 
21 December 2007), and the Energía Plus programme (SE Resolution No. 1.281/06, published on 
4 September 2006), which seeks to promote the increase of electricity generation capacity and 
ensure electricity supply for  public lighting and to households, public entities, MSMEs, and small 
users with consumption of up to 30 kW.  
4.177.   Argentina also has several programmes to promote renewable energy. The National 
Directorate of Renewable Generation maintains the National Registry  of Renewable Electricity 
Generation Projects (RENPER). The Regime for National Promotion of the Use of Renewable Energies 
to Generate Electrical Power198 sets the objective of increasing the share of renewable energy 
sources in the electricity matrix to 8%  of national annual consumption by 31 December 2017, 12% 
by 31 December 2019, 16% by 31 December 2021, 18% by 31 December 2023, and 20% by 
31 December 2025. The benefits granted by the Regime include accelerated depreciation in the 
calculation of income ta x and early VAT refund for capital goods, civil, electromechanical and 
assembly works and other related services integrated into new generation plants or existing plants.  
4.178.   The Regime gives preference to projects that use all capital goods of national origin . 
Beneficiaries of the Regime that in their investment projects demonstrate a 60% inclusion of national 
components in electromechanical installations (excluding civil works), or a lower percentage, but not 
less than 30%, if it is demonstrated that there is  no national production available, will additionally 
have the right to receive a tax certificate applicable to the payment of national taxes, to a value 
equivalent to 20% of the national component of the accredited electromechanical installations. The 
inclusion of capital goods of foreign origin is authorized when it is proven that there is no competitive 
technological offer at the local level. Law No.  27.191 of 2015 introduced the Second Stage of the 
Regime, which applies to investment projects initiating execution between 1 January 2018 and 
31 December 2025. The same Law provided for the application of a 0% extra -zone import duty for 
goods without local production or parts that are necessary for local integration under the Regime 
until 31 December 2017. De cree No. 814/2017 (Official Journal of 11 October 2017) extended the 
application of the 0% tariff for these products for 60 months as from 1 January 2018.  
4.179.   Also within the framework of Law No. 27.191, the RenovAr Programme was implemented in 
2016 to promote  the use of renewable energy via joint purchases by Large Users through 
CAMMESA.199 In Round 1, a total of 29 projects were awarded for a total of 1,143 MW, representing 
3.1% of electrical power consumption. In Round 1.5, which included projects submitted a nd not 
awarded in Round 1, some 10 wind energy projects were awarded for a total of 765.4 MW and 
20 solar energy projects for a total of 516.2 MW.200 In Round 2, a total of 88 projects were awarded 
 
197 The National Emergency Law suspended the application of the provisions of the second paragraph of 
Article 124 of Law No.  27.467 (Official Journal of December 2018), which provided that, once the transfer of 
EDENOR and ED ESUR to the jurisdiction of the Province of Buenos Aires and the Autonomous City of Buenos 
Aires, respectively, was effective as of 1 January 2019, ENRE would maintain its functions in all matters not 
related to the public electricity distribution service.  
198 Law No.  26.190 of 27 December 2006 and Law No.  27.191 (Official Journal of 21 October 2015).  
199 Information from CAMMESA. Viewed at: https://portalweb.cammesa.com/Pages/RenovAr.aspx .  
200 Ministry of Energy and Mining, Under -Secretariat of Renewable Energy (2016), Energías Renovables 
en Argentina Adjudicación de Proyectos , Buenos Aires, 25 November 2016. Viewed at: 
https://portalweb.cammesa.com/Documentos%20compartidos/Noticias/RenovAr/Presenta%20MINEM%20Rond
a%201.5_%20Adjudicacion%202016%20nov%2025.pdf .  WT/TPR/S/412 • Argentina  
 
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 for a total of 2,043 MW; while in Round 3, which was orient ed towards smaller scale projects 
connected to medium and low voltage grids, 38 projects were awarded for a total of 259 MW. In 
addition, 10 previous contracts were readjusted through Resolution No.  202/2017.  
4.180.   In 2017, the Regime for the Forward Market of E lectrical Power from Renewable Sources 
(MATER)201 was established, which regulates MATER contracts and the self -generation of electrical 
power from renewable sources and applies to consumers with an average demand equal to or greater 
than 300 kW. Participat ion in the Regime is not mandatory; however, if enterprises participate in 
this purchasing mechanism, on being included in the list of Qualified Large Users (GUH), they obtain 
benefits with respect to the amounts to be paid as a joint purchase charge. Mean while, power reserve 
charges are reimbursed in proportion to the energy purchased. The corresponding amounts are 
adjusted according to the year the enterprise entered MATER. As of March 2021, there were 
353 GUMAS and 483 GUMES participating in the MEM as GUH. The Regime also provides incentives 
for exceeding the targets set for each year in the form of lower sales charges.202 In addition to the 
sales charge, an administration charge of USD 0.05 per MWh is charged for the period between 2019 
and 2024, which will be reduced to zero from 2025 onwards.  
4.181.   Law 27.424 (Official Journal of 27 December 2017), Regime for the Promotion of Distributed 
Generation of Renewable Energy to the Public Electrical Power Grid, sets the policies and establishes 
the legal and contractual conditions for the generation of electrical power from renewable sources 
by users of the distribution grid, for self -consumption, with the eventual injection of surpluses to the 
grid. It establishes the obligation of public distribution service providers to facilitate such injection, 
ensuring free access to the public electricity grid. The Law allows end users to genera te their own 
energy through renewable sources for self -consumption and injection of surpluses into the electricity 
distribution system and provides for benefits such as tax credit certificates for the user -generator. 
By the end of March 2021, the Distribut ed Generation Regime had 411 authorized user -generators, 
3.76 MW installed, 12 provinces and 143 registered distributors and electricity cooperatives.  
4.3  Manufacturing  
4.3.1   Overview  
4.182.   Manufacturing's share of GDP was 13.9 % in 2020 (including food processing), compar ed to 
15.2% in 2012. The main branches of activity in the manufacturing sector are food and beverages; 
chemical substances and products; manufacturing of basic metals; machinery and equipment; 
rubber and plastic products; and non -metallic mineral products (Table 1.1). The loss of dynamism 
in the manufacturing industry is partly due to competitiveness problems, weak domestic demand, 
and faster growth in other productive activities, such as agriculture, mining and some services. Over 
the 2012 -19 period, gross  value added in the manufacturing sector declined by 16 % in physical 
volume terms (equivalent to an annual average decline in GDP for manufacturing of -2.5%). Almost 
all manufacturing sectors experienced a contraction, with the best performance coming from  the 
chemical industry.  
4.183.   After rebounding somewhat in 2017, when it expanded by 2.5 %, the industrial production 
index (IPI) for manufacturing shrank by 5 % in 2018 and by 6.4 % in 2019.203 In 2020, the 
manufacturing IPI fell by 7.6 % compared to 2019.204 The deg ree of installed capacity utilization in 
 
201 MEyM Resolution Nº 281 -E/2017 . 
202 The sales charge, which is payable from January 2019, increases according to the obligatory 
renewable energy coverage targets. In 2017 -18, when the obligatory target was 8%, the charge was zero; in 
2019-20, when that target was 12%, the charge was USD 6/MWh; in 2021 -22, when the target is 16%, the 
charge is USD 10/MWh; in 2023 -24, when the target is 18%, the charge will be USD 14/MWh; and from 2025, 
when the target is 20%, the charge will be USD 18/MWh. A percentage decrease of between 20% and 100% is 
applied to this charge, per user , depending on their average monthly power generated by renewable energy.  
203 Information from INDEC. Viewed at: https://www.indec.gob.ar/indec/web/Nivel4.Te ma.3.6.14 . 
204 By branch, the following trends were observed: food and beverages recorded an increase of 0.2 %; 
tobacco products, 0.7 %; textile products, -19.3%; apparel, leather and footwear, -32.9%; wood, paper, 
publishing and printing, -2.1%; petroleum ref ining, coke and nuclear fuel, -13.6%; chemical substances and 
products, 2.4 %; rubber and plastic products, -7.3%; non -metallic mineral products, -13.4%; basic metal 
industries, -22.6%; metal products, -21.0%; machinery and equipment, 4.1 %; other equipment,  appliances 
and instruments, -16.2%; motor vehicles, bodies, trailers and auto parts, -21.3%; other transport equipment, 
-37.0%; and furniture and mattresses, and other manufacturing industries, -7.3%. INDEC (2020), Vol. 5, No. WT/TPR/S/412 • Argentina  
 
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 the industry stood at 58.4 % in December  2020, up from 56.9 % recorded in the same month in 
2019. The subsectors that in December  2020 showed levels of installed capacity utilization above 
the general level are basic metal industries (73.5 %), petroleum refining (72.0 %), non -metallic 
mineral products (69.2 %), chemical substances and products (63.7 %), and paper and cardboard 
(62.6 %). The subsectors below the general level are food and beverages (56.9 %), publishing and 
printing (52.1 %), mechanical engineering except motor vehicles (49.7 %), rubber and plastic 
products (49.5 %), tobacco products (46.7 %), textile products (42.4 %) and the automotive industry 
(41.0 %).205 
4.184.   Most industrial activity takes place in the provinces of Bu enos Aires (more than half of the 
total), Santa Fe, Cordoba and Mendoza, as well as in CABA. In 2018, manufacturing accounted for 
18.4% of registered jobs in Argentina, with the food processing industry (31.6 % of the sector total), 
chemicals (8.9 % %), and textiles and made -up articles (8.6 %) providing the most jobs.206 
4.185.   Manufacturing exports (including processed food, but excluding fuels) account for about 
two-thirds of total exports, approximately USD  43 billion in 2019.207 The main exports of 
manufactured goods in 2019 were: meal and pellets resulting from the extraction of soybean oil 
(USD  8,809  million); motor vehicles for the transport of goods (USD  4,008  million) and motor 
vehicles for the transport of persons (USD  1,459 million). Imports of manufactured goods, for their 
part, consist mainly of capital goods; products of the chemical or allied industries; plastics, rubber 
and articles thereof; parts and accessories for capital goods; consumer goods; and passenger motor 
vehicles.  
4.186.   The Secretariat for Industry, the Knowledge Economy and Foreign Trade Management in the 
MDP is the entity responsible for the design, coordination and promotion of industrial development 
policies in the manufacturing sector. Within the Secretariat , the Under -Secretariat for Industry is 
responsible for defining industrial policy and the design, financing and utilization of the tools needed 
to promote the development of manufacturing activity and investment in the sector. The 
Under -Secretariat for Tr ade Policy and Management develops and administers trade policy 
instruments related to export promotion, unfair competition and free trade zones, as well as trade 
agreements with other countries. The Under -Secretariat for the Knowledge Economy promotes the  
incorporation of knowledge and innovation in production systems. The Secretariat for Small and 
Medium -Sized Enterprises (SEPYME), also in the MDP, is responsible for defining the strategic 
guidelines for policies relating to micro, small and medium -sized enterprises (MSMEs).208 
4.187.   In the period under review, the authorities implemented initiatives to promote sustainable 
development. The National Programme of Entrepreneurs for Sustainable Development (PROESUS), 
launched in 2016 to foster the development of sust ainable ventures, functioned as a platform to 
facilitate the creation and strengthening of sustainable and innovative business models.209 The 
programme was abolished by the Ministry of the Environment and Sustainable Development by 
Resolution No.  200/2020 o f 12 June 2020.  
4.3.2   Trade measures and support measures  
4.188.   The simple average MFN tariff in the manufacturing sector (ISIC definition) was 11.9 % in 
2020, or 11.5 % according to the WTO definition of non -agricultural products, or 11.6 % if Chapters 
25 to 97 of the H armonized System are considered (Section 3.1). Tariffs range from 0 to 35 %. The 
highest average tariffs according to the WTO classification are on clothing (35.0 %), textiles (22.5 %), 
transport equipment (18.5 %), footwear and leather articles (15.2 %). Durin g the period under 
 
19, Industria manufacturera, Índice de producción industrial manufacturero,  December 2020. Viewed at: 
https://www.indec.gob.ar/uploads/informesdeprensa/ipi_manufactur ero_02_2103A40FF433.pdf . 
205 INDEC (2020), Vol. 5, No. 21, Industria manufacturera, Utilización de la capacidad instalada en la 
industria,  December 2020. Viewed at: 
https://www.indec.gob.ar/uploads/informesdeprensa/capacidad_02_214ABA20231A.pdf . 
206 Statistics of the Ministry of Labour, Employment and Social Security. Viewed at: 
http://www.trabajo.gob.ar/estadisticas/oede/estadisticasnacionales.asp . 
207 Data for 2020 are affected by the cessation of activity due to the COVID -19 pandemic.  
208 Information from INTI. Viewed at: https: //www.inti.gob.ar/conoces.al.inti . 
209 Secretariat for the Environment and Sustainable Development, PROESUS, Manual de Métricas e 
Indicadores para Emprendimientos Sustentables . Viewed at: 
https://www.argentina.gob.ar/ambiente/sustentabilidad/innovacion.para.el.desarrollo/proesus/metricas.indicad
ores. WT/TPR/S/412 • Argentina  
 
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 review, imports of a large number of manufactures have continued to be subject to non - automatic 
import licensing; the composition of the products subject to licensing requirements has varied over 
time (see Section 3).  
4.189.   The export of most  manufactured goods is currently subject to a 5 % duty. Decree 
No. 793/2018 of 3  September  2018 fixed, until 31  December  2020, a rate of 12 % for all goods 
covered by Argentina's tariff, establishing a limit for its application of ARS  3 or ARS  4 for each USD  
of the dutiable value or of the official price, as applicable. Decree No.  847/2019 of 6  December  2019 
provided for the temporary elimination of export duties for raw hides, skins and leather (HS4101; 
4102; 4103; 4104), for exports within an export quota o f 2 million units. Decree No.  37/2019 of 
14 December  2019 amended Decree No.  793/2018 and established a 9 % duty for certain products 
included in HS Chapters 44; 47; 51; and 52, among others; while Decree No.  230/2020 of 
4 March  2020 increased the export du ty rate to 5 %, 7%, 9%, 27%, 28%, 30% and 33 % for 558 
tariff lines of 8 digits (611 if parts of lines are included), of HS Chapters 01; 02; 03; 05; 07; 10; 11; 
12; 15; 20; 23; 38; 44; and 51.  
4.190.   Decree No.  280/2019 of 17  April 2019 (Official Journal of 7  May 2019) provides, until 
31 December  2020, for the relief from export duty for exports of MSMEs that exceed, in terms of 
their f.o.b. value, those made in the previous calendar year. Decree No.  335/2019 of 6  May 2019 
(Official Journal of 7  May 2019) establishe s that this relief applies only in respect of exports of the 
goods covered by the tariff positions detailed in Annex I (which, however, represent the vast majority 
of tariff lines), made as from the date of the transaction with which the f.o.b. value refer red to above 
has been exceeded. The amount eligible for relief is subject to caps: USD  600,000 for those who 
had exported in the immediately preceding calendar year, and USD  300,000 for those who, at the 
time of publication of the Decree, had not exported in the immediately preceding calendar year.210 
4.191.   Argentina provides assistance to its manufacturing sector through horizontal fiscal incentive 
schemes (Section 3.3.1), as well as export promotion schemes such as free export zones or 
temporary admission (Secti on 3.2.3). Special arrangements also apply to the production of capital 
goods under the capital goods, information technology and telecommunications products regime. 
The manufacturing sector can also benefit from special credit facilities for research and development 
projects and for technological development and innovation through the Scientific and Technological 
Research Fund (FONCyT), the Argentine Technological Fund (FONTAR), the Trust Fund for Promotion 
of the Software Industry (FONSOFT), and the Argen tine Sectoral Fund (FONARSEC), administered 
by the National Agency for the Promotion of Technological Research, Development and Innovation 
(RDI agency), a national body attached to the Ministry of Science, Technology and Innovation. In 
2020, the benefits a llocated for RDI totalled ARS  3,118.6  million, of which ARS  2,423.2  million was 
for FONCyT, ARS  536.4  million for FONTAR, and ARS  159.0  million for FONARSEC (Section 3.3.1).  
4.192.   RDI supports, through FONTAR tax credit programmes and lines of credit, projects a imed at 
enhancing private -sector productivity through technological innovation. The credit programmes 
include: (a) Investment and Foreign Trade Bank (BICE) business Loans (CAE BICE) to promote the 
technological modernization of products or processes of goo ds-producing companies established in 
the country that have invoiced up to ARS  200 million in the last financial year; (b) business loans 
(CAE) to improve the competitiveness of goods -producing and services companies through the 
technological modernization  of products or processes211; and (c) competitiveness loans (CRE CO), 
aimed at improving the competitiveness of goods -producing and services companies in different 
branches of activity through research, technological development, or technological modernizat ion 
projects. RDI also manages the technological modernization tax credit programme, which aims to 
improve the productive structures and innovative capacity of goods -producing and services 
companies through financing for research -and-development and techno logical modernization 
projects. The beneficiaries are natural or legal persons who are owners of goods -producing and/or 
services companies located in Argentina and who do not receive any promotional benefit or RDI 
funding for the same project or any of its  stages. Tax credit certificates are granted that can be 
 
210 Annex I contains some 9,470 tariff lines, i.e. 92.6 % of tariff items. This annex can be viewed at: 
http://servicios.infoleg.gob.ar/infolegInternet/anexos/310000.314999/314042/DEC335.pdf . 
211 The types of projects financed by this progra mme can be viewed on the website of the National 
Agency for the Promotion of Science and Technology at: 
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 deducted from income/profits tax in an amount of up to 50 % of the project's total budget. Credit 
quotas are established by region and there is competition for parts of this quota.212 
4.193.   SMEs are eligible for a number of tax incentives (Section 3.3.1). They are also eligible for an 
interest subsidy scheme and credit access services through mutual guarantee societies (SGRs).213 
MSMEs can benefit from the provisions contained in the title of the Law o n productive financing 
(Official Journal of 11  May 2018), that introduced "MSME electronic credit invoices", which are 
negotiable and transferable securities. The "invoices" may be traded in the markets authorised by 
the National Securities Commission and receive the tax treatment corresponding to negotiable 
securities offered to the public. According to the authorities, between January  2020 and March  2021, 
577,264 invoices were issued for an amount of ARS  525,514.7  million.  
4.194.   The incentive scheme aimed at pr omoting domestic manufacturing of capital goods, IT and 
telecommunications was modified several times during the period under review.214 The benefit under 
the scheme consists of a transferable tax credit bond, equivalent to a percentage of sales, for the 
production of goods that are set out in the annex to the Decree (updated text).215 The goods must 
be new, locally produced and intended for investments in economic activities taking place in the 
national territory.216 The scheme also benefits goods that form p art of complete and autonomous 
production lines, are manufactured in the country, and are allocated to new industrial plants or to 
the expansion and/or modernization of existing plants producing tangible goods. The tax credit bond 
is nominative and can be assigned to third parties only once. The bond can be used for the payment 
of national taxes and is valid for 12 months from the date of issue. Under Decree No.  96/2020, 
(Official Journal of 22  January  2020), for requests for the issuance of tax bonds for i nvoices issued 
up to 31  December  2020, a benefit was granted equivalent to 50 % (60% for MSMEs) of the sum of: 
(i) 6% of the amount resulting from deducting from the sales price the value of inputs, parts or 
components of imported origin incorporated into the good, having been nationalised with an import 
duty of 0 %; and (ii) 8 % of the amount resulting from deducting from  the sales price the value of 
the aforementioned inputs, parts or components plus the value of inputs, parts or components 
nationalised with an import duty of more than 0 %. This benefit could be increased by up to 15 % if 
the beneficiaries were able to prov e that they had made investments aimed at enhancing 
productivity, quality and innovation in processes and products. Thus, the amount of the tax bond 
could be up to 9.7 % of total net sales in the local market.217 
4.195.   In 2016, the National Programme for Productiv e Transformation (PNTP) began to be 
implemented.218 Industrial enterprises that are enrolled in the PNTP register, were established before 
the PNTP came into force, and are considered "dynamic enterprises" (evincing rapid growth or 
growth potential) can ben efit from the PNTP; industrial processing enterprises (ETPs) established up 
to two years prior to the PNTP can also benefit from the PNTP.219 To be admitted as an ETP, two or 
more of the following criteria must be met: (a) an increase in suspensions or a de crease in overtime 
in its payroll over the previous six months; (b) a projection of a decline in the company's payroll 
and/or sales of 20 % or more compared to the year prior to the application; (c) an increase in imports 
of 40% or more in relation to the s ame quarter the previous year; (d) a quarterly fall in exports of 
40% or more in comparison to the same quarter the previous year; (e) be part of a sector that has 
 
212 Information from the National Agency for the Promotion of Science and Technology. Viewed at: 
http://www.agencia.mincyt.gob.ar/frontend/agencia/instrumento/16 . 
213 Law No. 24.467 of 15 March 1995.  
214 Decree No. 379/2001 of 29 March 2001 implemented the scheme. The amendments were introduced 
by Decree No. 593/2017 (Official Journal of 31 July 2017); De cree No. 229/2018 (Official Journal of 19 March 
2018); and Decree No. 96/2020 (Official Journal of 22 January 2020).  
215 Decree No. 229/2018 (Official Journal of 19 March 2018).  
216 The components of the production lines need not necessarily be included in the  range of tariff 
positions detailed in the annex to the Decree. The updated version of the annex was incorporated by Decree 
No. 593/2017  (Official Journal of July 2017), and went into force on 1 July 2017. The annex can be viewed at: 
http://servicios.infoleg.gob.ar/infolegInternet/anexos/65000.69999/66567/texact.htm . 
217 The amount of imported machinery or materials used for manufacturing or construction affect s the 
calculation of the bond. The value of 9.7 % corresponds to the bond that would be obtained by an MSME with 
100% domestic inputs and benefiting from the additional 15 % for investment. Information from MINAGRI. 
Viewed at: https://www.argentina.gob.ar/acceder.un.bono.por.fabricar.bienes.de.capital . 
218 Established by Joint Resolution No. 1/16 of the Ministry of Production and the Ministry of Labour, 
Employment and Social Security, the implementing regulations of which are contained in Resolution E58 -E 216 
of the Ministry of Production (Official Journal of 7 December 2016).  
219 Excludes agribusinesses; fishing or mining companies; public utilities; non -tradable service 
enterprises; and cooperatives and mutual associations.  WT/TPR/S/412 • Argentina  
 
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 at least 20 % of its tariff positions covered by non -automatic import licenses; (f) be or hav e been 
part of a sectoral promotion scheme; (g) account for 20 % or more of formal jobs in the locality 
where it pursues its activity; and (h) ETPs on the register account for at least 30 % of its sales. The 
benefits are granted upon completion of the final productive transformation project or final 
investment project and include: direct loans; interest subsidies; guarantees; non -refundable 
contributions when it is not feasible to implement a loan; and capital contributions in companies 
and/or loans convertib le into shares. For ETPs, the rate subsidy can be up to six percentage points.220 
The amount and/or conditions of the benefit to "dynamic enterprises" depends on the number of 
workers incorporated from the PNTP.  
4.196.   Although it has lost dynamism during the peri od under review, the automotive sector is 
important for Argentina. It is estimated that the entire local value chain accounts for around 8 % of 
industrial employment, generating 78,000 direct jobs and around 160,000 indirect jobs. The sector 
accounts for mo re than 40 % of Argentina's exports of manufactured goods, and is the country's 
second -largest exporter value chain. Imports of cars and light utility vehicles from outside the 
MERCOSUR zone, together with imports of heavy commercial vehicles, are generally  subject to a 
35% tariff, with the exception of self -propelled agricultural and highway machinery, which pays 
14%. Auto parts are generally subject to a common external tariff (CET) of 14 %, except for those 
not produced in MERCOSUR; these pay a CET of 2 %.221 
4.197.   The incentives scheme to improve the competitiveness of local auto parts, established by 
Decree No.  774 of 5  July 2005, grants for a maximum period of three years a cash refund on the 
value of purchases of local auto parts by manufacturers of automotive products, provided that they 
have a maximum imported content of any origin of 30 %.222 Such parts must be intended for 
production, incorporated into new platforms and be purchased by manufacturers of cars, utility 
vehicles with a load capacity of up to 1,500  kg, lorries, chassis with or without cabs and buses, 
engines, gearboxes and axles with differentials. The automotive industry can also benefit from the 
in-factory customs procedure (RAF), which allows eligible companies to import specific goods and 
incorp orate them in products for export, re -export them without processing or import them for 
consumption without paying tax until the operations have been completed.223 
4.198.   The automotive sector is excluded from MERCOSUR, and its trade has been governed by 
bilateral  agreements between trading partners. In September  2019, Argentina and Brazil signed a 
new agreement extending managed free trade in automotive production (Flex) until 2029. The 
Automotive Agreement between Argentina and Brazil is governed by the 38th Addi tional Protocol to 
ECA No.  14, signed in July  2008, as amended by several other additional protocols, the most recent 
of which, the 44th Additional Protocol, extended indefinitely the term of the 38th Additional Protocol. 
Under the provisions of the 38th A dditional Protocol, automotive products are traded between the 
parties with a 100 % tariff preference, in other words, with an intra -zone tariff of 0 %, provided that 
they meet the origin requirements and the other conditions stipulated in the agreement. The  regional 
content must be a minimum of 60 %. In order to benefit from the import of auto parts not produced 
in MERCOSUR under the Agreement's preferential conditions (2 % tariff), companies producing 
automotive products must be registered in the appropriate register of producers.  
4.199.   The 44th Additional Protocol provides that the bilateral trade flow of certain products (cars 
and light utility vehicles with a load capacity of up to 1,500 kg; buses; lorries; road tractors for 
semi-trailers; chassis with engines, i ncluding with cabs; and auto parts) will be monitored on a 
 
220 A bonus of one percentage point is granted to companies located in the provinces of Misiones, 
Corrientes, Chaco, Formosa, Santiago del Estero, La Rioja, Catamarca, Tucumán, Salta and Jujuy or Greater 
Buenos Aires. In addition, ETPs receive a bonus of 5 percentage points if their payroll is maintained at 100 %; 
4 percentage points if it is maintained at 90 %; 3 percentage points if it is maintained at 80 %; 2 percentage 
points if it is mai ntained at 70 %; and 1 percentage point if it is maintained at 60 %. 
221 Pursuant to Resolution No. 497 of 23 July 2004, which establishes a list of products not 
manufactured in Argentina and has been updated several times, the most recent being Resolution No.  25 of 
10 August 2010.  
222 The refund is 8 % of the ex -factory value before tax in the first year of production of the vehicle, 7 % 
in the second year and 6 % in the third year of the vehicle's production. The NCM headings that benefit from 
the refund are: 8415.20.10; 8415.20.90; 8527.21.10; 8527.21.90.100G; 8527.29.00; 8527.29.00.100P; 
9032.89.29.900K; 8526.92.00.000F; 8537.10.90.900V; 8407.33.90; 8407.34.90; 8407.90.00; 8408.20.10; 
8408.20.20; 8408.20.30; 8408.20.90; 8408.90.90; 8708.40.11; 8708.40.19; 8708.40.90; 8708.50.11; 
8708.50.19; 8708.50.90; 8708.60.10; and 8708.60.90.  
223 Decree No. 688/2002 and amendments thereto.  WT/TPR/S/412 • Argentina  
 
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 quarterly basis until 30  June 2029, by country. There is no maximum limit for exports, with 
a 100% preference margin as long as they remain within the annual limits in the variation 
coefficients de termined for exports (Flex).224 During the period from 1  July 2020 to 30  June 2023, 
the ratio between the value of imports and exports between the parties shall adhere to a Flex of no 
more than 1.8.225 After 1  July 2029, the commerce in automotive products b etween the parties will 
be subject to free trade. In addition, the regional content index (RCI) provisions of the 38th Additional 
Protocol were amended and reduced from 60 % to 50 % for a series of automotive products.226 The 
RCI for auto parts, except assemblies and sub -assemblies, will continue to be 60 % for a period of 
seven years, until 31  December  2026. From 1  January  2027, the "specific requirements of origin" 
laid out in Appendix II of the Additional Protocol will a pply to auto parts, including assemblies and 
sub-assemblies. In addition, the RCI provisions for new models were amended, establishing that 
those produced in the territory of one of the parties under the progressive integration programmes 
would reach an RC I of 50 % in a maximum of two years and have an RCI of 35 % at the beginning 
of the first year and a minimum of 40 % at the beginning of the second year, reaching 50 % at the 
beginning of the third year. It is also stipulated that the parties will grant a 100 % margin of 
preference to imports of 10,000 units per year for vehicles under NCM heading 8703, when they 
meet a minimum RCI of 35 %. The distribution of that quota, with a maximum of 20 % of the total 
quota per model, will be made by the exporting country an d its utilization monitored on a quarterly 
basis. Provision is also made for a 100 % margin of preference to be granted to certain vehicles that 
meet a minimum RCI of 35 %, for a period of 10 years from 1  January  2020, according to a schedule 
of increasing a nnual quotas.227 
4.200.   Under the 2nd Additional Protocol to the Bilateral Agreement with Uruguay (ECA No.  57), 
which entered into force in 2008, cars and light commercial vehicles (with a load capacity of up to 
1,500 kg), lorries and auto parts from Uruguay enjoy  duty-free access without limitations if they 
comply with the MERCOSUR origin requirement (60 %), and may also enter under preferential origin 
conditions (50 %) but subject to quotas of 20,000 units, 800 units and USD  60 million, respectively. 
According to t he authorities, these quotas are hardly used in practice.  
4.201.   Through its participation in MERCOSUR, Argentina signed an agreement (ECA  55) with 
Mexico in September  2002 with a view to creating a free trade area for the automotive sector.228 
Under the 4th Proto col to the ECA, trade in automobiles, vehicles with a loaded vehicle gross weight 
of 8,845 kg or less, car bodies, trailers and semi -trailers, and agricultural tractors, combine 
harvesters, self -propelled agricultural machinery and road machinery was liber alized as of 
1 July 2011; however, implementation of the agreement was suspended for three years in 2012.229 
In March  2015, Argentina and Mexico signed the 5th Additional Protocol to Appendix I of ECA  55, 
which imposed for four years reciprocal quotas expre ssed in USD, with a 0 % tariff on imports of cars 
and vehicles with a weight of 8,845 kg or less.230 Although it was planned to enter a free trade phase 
on 19  March  2019, Argentina and Mexico agreed to continue with quota -based administered trade 
for three m ore years, with an annual increase in quotas of 10 % in the first year, 5 % in the second 
 
224 The Flex limit regulates the amount that can be imported for each dollar of exports f.o.b. to the 
partner country.  
225 In the period from 1 July 2023 to 30 June 2025, the value of imports and exports of administered 
products between the parties shall observe a Flex not exceeding 1.9; in the pe riod from 1 July 2025 to 
30 June 2027, the Flex shall not exceed 2; in the period from 1 July 2027 to 30 June 2028, the Flex shall not 
exceed 2.5; and in the period from 1 July 2028 to 30 June 2029, the Flex shall not exceed a value of 3.  
226 Calculated acco rding to the following formula: RCI = {1 - Customs value of non -originating 
materials} x 100 ≥ 50% of the f.o.b. export value of the finished product. The goods covered are cars and light 
utility vehicles with a load capacity of up to 1,500 kg; buses; lorr ies; road tractors for semi -trailers; chassis 
with engines; trailers and semi -trailers; coachwork and cabs; agricultural tractors, combine harvesters and 
self-propelled agricultural machinery; self -propelled highway machinery; and auto part assemblies and 
sub-assemblies.  
227 NCM tariff items 8702, 8703.40.00, 8703.50.00, 8703.60.00, 8703.70.00, 8703.80.00 and 8704. 
The quotas are: 2020: 15,000 units; 2021: 18,500; 2022: 22,000; 2023: 25,500; 2024: 29,000; 2025: 
32,500; 2026: 36,000; 2027: 39,500; 2028: 43,000 ; 2029: 50,000.  
228 Economic Complementarity Agreement (ECA) No. 55. Viewed at: 
http://www.sice.oas.org/Trade/MERCOSURMexACE55/Protocols/VProt_ApenI_s.asp . 
229 Decree No . 969 of 22 June 2012.  
230 In 2017, bilateral trade in the automotive sector between Argentina and Mexico within the framework 
of ECA No. 55 amounted to USD 1,075 million. Argentina's imports were USD 805 million, and its exports 
USD 270 million. In 2018, th e Argentina -Mexico automotive trade under ECA Nº 55 amounted to 
USD 817 million. See : Comercio Automotor México -Argentina (Apéndice I).  Viewed at: 
http://www.sic e.oas.org/TPD/MER_MEX/Implementation/ARG_MEX_Protocol_2019_s.pdf . WT/TPR/S/412 • Argentina  
 
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 year and 5 % in the third year. After this period, free trade in cars will enter into force.231 Quotas are 
allocated to exporting companies, administered by the exporting  party, and verified by the importing 
party. Despite the quota, there is no maximum limit for imports under the full tariff preference, as 
long as the amounts are equivalent to the values exported. An RCI of 35 % applies from 
19 March  2019 until the establi shment of free trade in vehicles, and 40 % from the entry into force 
of free trade. The formula for calculating the RCI on the basis of free trade has not yet been 
established. New automotive products (cars and other light vehicles) are considered as origin ating 
when, as a result of a production process carried out entirely in the territory of either party, the RCI 
is at least 20 % in both of the first two years. In the third year, a 35 % RCI will apply. For some 
products a lower RCI was temporarily establishe d. 
4.202.   In 2002, the 31st Additional Protocol to ECA No.  35 was signed. This established, from 2006 
onward, free trade between Argentina and Chile in cars, light commercial vehicles (with a load 
capacity of up to 1,500 kg), lorries, road tractors for semi trailers, chassis with engines, buses and 
auto parts. The Agreement's rules of origin were amended in 2018 and again in 2020, making them 
more flexible and setting an RCI of 50 %.232 Under ECA No.  72, Argentina grants a tariff preference 
of up to 100 % to a n umber of automotive products originating in Colombia. For some products, 
specific quotas and rules of origin apply. Under the same agreement, Argentina grants certain 
chemical industry products originating in Colombia a 100 % tariff preference. Argentina al so uses 
preferential quotas for imports of certain manufactured products under the ECAs signed with Peru 
(ECA No.  58, mainly textiles and clothing), Colombia, Venezuela and Ecuador (ECA No.  59) and Cuba 
(ECA No.  62). 
4.4  Services  
4.4.1   Main features  
4.203.   Services account ed for 55.2 % of GDP at factor cost in 2020 and 66 % at market prices 
(including indirect taxes net of subsidies). Wholesale, retail trade and repairs was the most important 
category relatively speaking (14.8 % of GDP at factor cost), followed by real estate, business and 
renting activities (10.0 %), public administration and defence and compulsory social security (6.4 %), 
education (5.2 %), financial intermediation services (4.5 %), health and social services (4.4 %), 
transport (2.9 %), communications (2.3 %), other community, social and personal service activities 
(2.0%), hotels and restaurants (1.1 %), and domestic services (0.6 %). Transport and 
communications, as well as hotels and restaurants, were particularly affe cted by the COVID -19 
pandemic (Section 1).  
4.204.   Services activities are mostly open to foreign investment. The main exceptions are air and 
maritime cabotage, as well as insurance, where reciprocity is required. Argentina is at a deficit where 
trade in services is concerned. In 2019, the deficit totalled USD  5,183  million, the result of revenues 
of USD  14,134  million and expenditures of USD  19,349  million. Travel and transport are in high 
deficit, while telecommunications and information technology are in surplus  (Table 1.5). In 2020, as 
a result of the COVID -19 pandemic, the deficit was reduced to USD  2,367  million, mainly due to the 
contraction in travel and transport, where outflows fell from USD  5,241  million in 2019 to 
USD 1,616  million in 2020, and from USD  1,852  million to USD  1,258  million, respectively 
(Section  1). 
4.205.   Decree No.  1.201/18 (Official Journal of 2  January  2019) established, until 
31 December  2020, a duty on the export of services of 12 %.233 The export duty imposed could not 
exceed ARS  4 per USD of  dutiable value. Law No.  27.541 (Official Journal of 23  December  2019) 
provided that the export duty rates for industrial goods and for services may not exceed 5 % of the 
dutiable value or of the official f.o.b. price. As a result, Decree No.  99/2019 (Offic ial Journal of 
 
231 The quotas were as follows: from 19 March 2015 to 18 March 2016, USD 575 million; from 
19 March  2016 to 18 March 2017, USD 592.25 million; from 19 March 2017 to 18 March 2018, 
USD 612.98  million; from 19 March 2018 to 18 March 2019, USD 637.5 million.  
232 Economic Complementarity Agreement (ECA) No. 35. 65th Protocol, 20 December 2020. Viewed at: 
http://www2.aladi.org/biblioteca/publicaciones/aladi/acuerdos/ace/es/ace35/ACE_035_065.pdf . 
233 It applies to the supply of services performed in the country, the effective use or exploitation of 
which occurs abroad; the supply of services performe d abroad, the effective use or exploitation of which occurs 
in the country; and copyright and intellectual property rights. Article 10 of Law No. 22.415 (Customs Code).  WT/TPR/S/412 • Argentina  
 
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 28 December  2019) was issued, which fixed, until 31  December  2021, an export duty of 5 % on the 
provision of services.  
4.4.2   Financial services  
4.4.2.1   Main features  
4.206.   The financial system in Argentina is regulated by three supervisory bodies. The Central Ba nk 
of Argentina (BCRA), through the Supervisory Authority for Financial and Foreign Exchange 
Establishments (SEFyC), regulates and supervises financial institutions, namely: banks, finance 
companies, credit funds and cooperatives; exchange houses and excha nge agencies; and credit card 
issuers and non -financial credit providers. The National Insurance Supervisory Authority (SSN), 
within the Ministry of the Economy, is responsible for the supervision and regulation of the insurance 
market. The National Securi ties Commission (CNV), also within the Ministry of the Economy, is in 
charge of regulating the Argentine capital market.  
4.207.   Argentina has specific commitments on financial services under the GATS in its initial 
schedule of concessions. Argentina did not submi t an offer in the extended negotiations on these 
services within the framework of the GATS. In its specific commitments, Argentina bound, without 
limitations, consumption abroad and commercial presence in relation to all types of bank loans and 
deposits, f inancial leasing, guarantees and commitments, money market and foreign exchange 
instruments, derivative products, and advisory services, among others, but left unlisted new financial 
services unbound. Financial transactions by the government and state -owne d companies were 
excluded.234 Argentina bound cross -border supply and consumption abroad solely for maritime and 
air transport insurance services and reinsurance and retrocession services. In its GATS schedule of 
commitments, Argentina made being a member a nd shareholder of the securities market a 
prerequisite for engaging in stock exchange transactions.  
4.208.   Excluding insurance services, the financial system's penetration is low, although there have 
been improvements in recent months. According to a report by th e authorities, the ratios of deposits 
and loans to GDP are among the lowest in the region.235 There are a number of challenges facing 
financial inclusion in Argentina, including continued extension of physical and digital infrastructure, 
expanding the use o f electronic means of payment, medium - and long -term savings and credit 
instruments, as well as access to financial education. One of the policies that the BCRA has set itself 
is to strive for greater financial inclusion through regulatory measures designe d to reduce costs for 
institutions, in particular the digitization of some operations. The main challenges include increasing 
the number of access points in the financial system, and expanding the use of financial services, i.e. 
getting the population and enterprises to make use of financial services, for example by promoting 
the use of electronic payments, as well as access to credit for micro enterprises. To address these 
challenges, in 2019, the government developed the National Strategy for Financial In clusion (ENIF), 
which seeks to promote access to and use of financial services in Argentina. Strategic objectives 
have been set for the period 2019 -23. The ENIF has three strategic objectives: (a) to complete and 
improve access to savings accounts, credit,  electronic means of payment, and insurance; (b) to 
increase the use of accounts, electronic means of payment, and other financial services; and (c) to 
improve the financial capabilities of the population and user protection. The ENIF gives emphasis to 
the role of digitization. The Financial Inclusion Coordination Council was established to coordinate 
measures.  
4.209.   The BCRA has also sought to take advantage of advances in technology to bring about 
greater financial inclusion.236 In that regard, the BCRA implemen ted regulatory measures aimed at 
enabling new financial products and services, rolling out more and better services, regulating prices 
or fees for basic financial services, and promoting digitization. The BCRA launched an "electronic 
means of payment agend a" to achieve greater financial inclusion and incorporate those whose 
banking access is precarious. In particular, the products introduced included an electronic funds 
transfer system between bank accounts, incorporation of new types of access points, and the 
implementation of electronic cheque and electronic credit invoice systems. In addition, the BCRA 
 
234 WTO document GATS/SC/4 of 15 April 1994.  
235 Ministry of the Treasury and Public Financ e (2019), Estrategia Nacional de Inclusión Financiera 2019 . 
Viewed at: https://www.argentina.gob.ar/sites/default/files/estrategia -nacional -inclusion -financiera.pdf . 
236 BCRA (2020), Informe de Inclusión Financiera (Finan cial Inclusion Report) , November 2020. Viewed 
at: http://www.bcra.gov.ar/Pdfs/PublicacionesEstadisticas/IIF_0220 -i.pdf. WT/TPR/S/412 • Argentina  
 
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 regulated interchange fees for debit and credit card payments in order to reduce fees and increase 
the participation of new acquirers or acceptors. To moni tor progress in financial inclusion, the BCRA 
publishes its half -yearly financial inclusion report (IIF).  
4.210.   Despite increasing steadily in recent months, the number of financial system access points, 
as well as cash deposit and withdrawal points, is below th at of other countries in the region, 
particularly in less well -off areas. By the end of 2020, the financial system had 44,534 access points, 
of which more than half were ATMs and the rest were self -service terminals, branches and mobile 
branches. Argentina  went from 8.9 access points per 10,000 adults in December  2019 to 12.6 in 
September  2020, and had 5.2 ATMs per 10,000 adults as of the same date. There is a marked 
disparity in the distribution of access points between provinces: as at December  2020, 48.3 % of 
localities with 92.2 % of the adult population had at least one access point, compared to 41.9 % in 
December  2019. However, only 29 % of localities with fewer than 2,000 adult inhabitants had at 
least one access point. Bank account penetration stood at 9 1% of the adult population in 
December  2020. According to the authorities, more than 5  million bank accounts were opened during 
the first months of the COVID -19 pandemic, which has helped boost financial inclusion in recent 
months.  
4.211.   During the period under review, the use of electronic means of payment has continued to be 
promoted. Debit, credit and prepaid card purchases and electronic transfers recorded increases 
relative to the population in recent years, despite the absence of growth in economic activity . The 
COVID -19 pandemic and the resulting social distancing measures have led to an acceleration in the 
use of contactless payments in shops and an increased remote use of payment instruments. The 
rise in credit card use has increased the percentage of the  adult population with access to finance, 
which, as at October  2020, was 47.2 % on average, but showed regional disparities.  
4.212.   In the context of the pandemic, MSMEs received financing through lines with subsidised rates 
for a total amount of ARS  482 billion, 18% of the total balance of financing in pesos to the private 
sector. The MSME and Health Services and MSME Plus lines were the most significant in terms of 
average amounts granted (just under ARS  3.8 million), reaching more than 110,000 companies, 
56% of which are incorporated as legal entities and the remaining 44 % as individuals.  
4.213.   Mutual guarantee societies (SGRs) have also sought to facilitate SME access to credit.237 
SGRs may assign guarantees to the same participating partner or to third parties for up to 5 % of 
the total value of the risk fund of each SGR, or the equivalent of 3.3 times a reference amount 
(which as at 1  April 2021 was ARS  57 million), whichever is lo wer in either case. Up to 25 % of the 
total value of the risk fund can be allocated to obligations to the same creditor (economic group). 
The BCRA may grant higher operating limits to creditors on an exceptional basis when they are 
centralized or decentrali zed state -owned public bodies at the national, provincial or municipal level 
that engage in commercial, industrial or financial activities, financial institutions regulated by the 
BCRA and/or international credit agencies, and it can be proven that the fin ancing conditions, in 
terms of cost and/or time -frame, represent a real benefit for MSMEs. The limit applicable to the 
participating member may also be extended when the SGR has guarantees in force for at least 30 % 
of its participating members (MSMEs); in this case, a guarantee of up to 15 % of the total value of 
the risk fund may be authorized for each SGR, provided that that amount does not exceed the sales 
of the applicant's last calendar half -year.238 SGRs cannot grant loans directly to their members or t o 
third parties.  
4.4.2.2   Banks and other financial intermediation institutions  
4.4.2.2.1   Main features  
4.214.   During the period under review, the number of institutions in the Argentine financial system 
remained relatively stable. As at 31  October  2020, the Argentine financial system, which includes 
the establishments regulated by the BCRA, consisted of 64 banks and 15 finance companies239, 
 
237 Created by Law No. 24.467 (Official Journal of 28  March 1995), most recently amended by Law No. 
27.444 (Official Journal of 18 June 2018).  
238 Article 14 of Law No. 27.444 (Official Journal of 18 June 2018), and Resolution No. 440/2019 of the 
Secretariat for Small and Medium -Sized Enterprises (Official Jou rnal of 11 October 2019).  
239 BCRA (2020), Información de Entidades Financieras,  October 2020. Viewed at: 
http://www.bcra.gov.ar/Pdfs/PublicacionesEstadisticas/Entida des/202010e.pdf . WT/TPR/S/412 • Argentina  
 
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 compared to 64 banks, 15 finance companies and two credit funds in 2013. In addition, as at 
May 2021, there were 121 credit and pur chase card issuers. Of the total number of banks, 13 were 
public and 51 private. Among the public banks, two were national and 11 provincial or municipal. Of 
the private banks, 35 were local domestic capital banks, nine were local foreign capital banks, an d 
seven were branches of foreign banks. Of the 15 finance companies, five were domestic -capital and 
10 foreign -capital. Also as at 31  December  2020, there were 4,581 full bank branches (of which 
1,488 were in the province of Buenos Aires, 819 in CABA, and 460 in the province of Córdoba), 120 
mobile branches, 6,168 branches for specific operations (including restricted branches and ancillary 
agencies of financial institutions) and 17,415 ATMs. At the same date, there were 15 branches of 
Argentine banks abroa d (Bolivia, Brazil, Cayman Islands, Chile, Panama, Paraguay (3), Spain, United 
States (2), Uruguay (2) ) and two representative offices (China and Spain).240 
4.215.   Argentine regulations divide commercial banks into two categories: first -tier banks, which 
can carry  out all lending, deposit and service operations under the terms of Law 21.526; and 
second -tier banks, which can carry out all lending, deposit and service operations established by law 
and regulations for first -tier banks, but are only authorised to take deposits from the financial sector, 
with the exception of foreign banks. Second -tier public banks may, in addition, receive deposits from 
international lending institutions, from investors who make deposits of no less than ARS  10 million 
(or the equivalent  in other currencies), and in the form of online fixed term deposits.  
4.216.   The banking sector is relatively concentrated, both in terms of the number of institutions 
and geographically. The five largest banks accounted for 51.9 % of the banking system's assets i n 
the third quarter of 2020.241 Another characteristic of the Argentine banking system is the high 
participation of public banks in financial activity — not in number, but in terms of assets. Of the top 
10 Argentine banks in terms of assets, three are publi c banks: the National Bank of Argentina (BNA), 
the largest in the country in terms of assets (18.9 % of the total), loans (16.9 %), deposits (21 %) 
and net worth (16.2 %); Bank of the Province of Buenos Aires; and Bank of the City of Buenos Aires. 
The BNA oper ates as a state commercial bank and as a promotion and development bank.242 
4.217.   The BCRA's general credit policy stipulates that credit assistance granted by financial 
institutions in any form must be aimed at financing investment, production, marketing, consum ption 
of goods and services both by domestic demand and by exports, as well as outward direct investment 
by companies resident in the country. Financial institutions are free to define the conditions and 
implementation of their credit operations, in accord ance with BCRA regulations on credit 
management and interest rates in credit operations.243 During the period under review, the BCRA 
continued to implement a policy aimed at increasing the levels of financial intermediation (deposits 
and loans) and promotin g financial inclusion. However, the degree of financial intermediation has 
fluctuated, reflecting the ups and downs in the economy. It has been particularly impacted in recent 
years, with credit to the private sector as a percentage of GDP falling from 13. 6% in December  2017 
to 11.5 % in September  2019; of that, domestic currency financing represented 7.8 % of GDP, and 
foreign currency financing, 3.7 %. The credit -to-GDP ratio continued to decline in the months that 
followed, averaging 10.8 % in the three month s to February  2021; the ratio was 9.4 % for the 
domestic currency segment.  
4.218.   Financial system assets increased exponentially in peso terms between 2013 and 2020, 
largely reflecting high levels of inflation. However, they fell in dollar terms, although they in creased 
as a percentage of GDP. Thus, the assets of the financial system increased from ARS  812,195  million 
in March  2013 (USD  158,561  million at the March  2013 reference exchange rate) to 
ARS 10,031,908.7  million in October  2020 (USD  128,075  million using  the reference exchange 
rate)244, and to ARS  11,461,732  million in February  2021 (USD  127,601  million at the reference 
 
240 BCRA (2020), Información de Entidades Financieras,  October 2020. Viewed at: 
http://www.bcra.gov.ar/Pdfs/PublicacionesEstadisticas/Entidades/20201 0e.pdf . 
241 National Bank of Argentina (BNA), with 18.9 % of total assets, was followed by Banco Santander Rio 
with 9.0 %; Banco de Galicia y Buenos Aires, 8.8 %; Bank of the Province of Buenos Aires, 8.5 %; and MACRO 
S.A., 6.7 %. BCRA (2020), Información de Entidades Financieras,  October 2020. Viewed at: 
http://www.bcra.gov.ar/Pdfs/PublicacionesEstadisticas/Entidades/202010e.pdf . 
242 Information from the B NA, Perfil de la entidad . Viewed at: 
https://www.bna.com.ar/Institucional/PerfilDeLaEntidad . 
243 BCRA (2020),  Política de Crédito – Last communication incorporated: "A" 7022 – Harmonized text as 
at 21 May 2020 . Viewed at: http://www.bcra.gov.ar/Pdfs/Texord/t -polcre.pdf . 
244 BCRA (2020), Informe de Bancos (Report on Banks), December 2020, Statistical Annex. 
http://www.bcra.gob.ar/PublicacionesEstadisticas/Informe -sobre -bancos -diciembre -20.asp . WT/TPR/S/412 • Argentina  
 
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 exchange rate). Financial system assets went up from 24.4 % of GDP in 2013 (26.6 % of GDP in 
December  2013) to 36 % in early 2020 (29.3 % in March 2020; 32.6 % in February  2021); this is low 
compared to other countries in the region. As of February  2021, the assets of the aggregate financial 
system were distributed as follows: public banks 37.5 %; domestic private 31.6 %; foreign private 
29.6%; non-banking financial institutions (EFNB) 1.3 %. As of the same date, its assets were 
distributed as follows: public banks 30.9 %; foreign private 31.8 %; domestic private 35.9 %; 
EFNB  1.5%. In terms of asset composition, private credit accounted for only 32.8 % of the total as 
of February  2021, compared to 50.1 % in March  2013, while credit to the public sector accounted for 
11.7%. For their part, liquid assets increased their share of total assets from 17.6 % in March  2013 
to 20.2 % in February  2021.  
4.219.   Largely refl ecting the high inflation rate, total domestic credit (in local and foreign currency) 
offered by the financial system to the non -financial private sector increased by 824 % in current peso 
terms between March  2013 and February  2021 ( -23.1% in real terms), f rom ARS  406,793  million 
(USD  79,416  million, at the March  2013 reference exchange rate), to ARS  3.76 trillion 
(USD  41,829  million, at the reference exchange rate for the last business day of February  2021).245 
In dollar terms, lending shrank by almost 50 %. According to information provided by the BCRA, in 
February  2021, 53 % of loans went to companies, and 47 % to households. Although it is difficult to 
estimate the performance in real terms over the entirety of the period under review246, credit to the 
private  sector in pesos contracted in real terms by 18 % in both 2018 and 2019. However, as a result 
of the expansionary effect of measures taken to address the COVID -19 pandemic, such as the MSME 
productive investment financing scheme, there was credit growth in 2020.247 In December  2020 the 
balance of credit to the private sector in pesos accumulated a real year -on-year increase of 10.3 %, 
reversing the declines observed in the previous two years.248 In February  2021 the balance of credit 
to the private sector in pe sos accumulated a real year -on-year increase of 9.4 %. Total deposits in 
the financial system (domestic and foreign currency) also grew rapidly in current peso terms during 
the period under review, from 14.5 % of GDP in March  2013 to 19.5 % in February  2021, accounting 
for 71 % of the financial system's liabilities.  
4.220.   Financial institutions have maintained high levels of liquidity in recent years and these levels 
have continued to rise in recent months. In the third quarter of 2020, the broad liquidity of the 
financial system in terms of its deposits remained at around 66 % (65% as of February  2021), in line 
with historical highs, and well above the 15 -year average (43 %).249 The level of leverage has 
remained relatively low250: 5.3% in February  2021, compared to 8.1 % in December  2018. Despite 
a decline in 2017 and 2018, the financial margin increased from 2019 onwards and remains relatively 
high (Table 4.10). The financial margin in December  2020 was 11.0 %. 
 
245 Information based on the Monthly Accounting Information Regime - Balance Sheet and Chart of 
Accounts (non -consolidated balance sheets) of the BCRA and statistical publications of the BCRA, viewed at: 
https://www.bcra.gob.ar/PublicacionesEstadisticas/Cuadros_estandarizados_series_estadisticas.asp . 
246 It is difficult to make the constant pesos conversion since the IPC methodology and calculation bas is 
were modified twice during the period, in 2013 and 2016.  
247 The BCRA introduced a series of macroprudential measures in 2020, aimed at (a) promoting 
financing to the private sector under favourable financial conditions, by strengthening flexible credit lines to 
companies; (b) sustaining financial relief measures fo r households and companies, by relaxing the conditions 
of instalment payments on current loans (including credit cards); (c) encouraging term savings in pesos, by 
calibrating minimum interest rates, launching adjustable deposits, and implementing savings a lternatives in 
term investments with variable remuneration; (d) contributing to strengthening the solvency levels of 
institutions by extending the suspension of dividend distribution; and (e) maintaining regulations on the foreign 
exchange market in a bid to avoid imbalances that might undermine the international reserve position of the 
economy. BCRA (2020), Informe de Estabilidad Financiera (Financial Stability Report), December 2020. Viewed 
at: http://www.bcra.gob.ar/Pdfs/PublicacionesEstadisticas/ief0220i.pdf . 
248 BCRA (2020), Report on Banks , December 2020. Viewed at: 
http://www.bcra.gob.ar /Pdfs/PublicacionesEstadisticas/InfBanc1220.pdf . 
249 BCRA (2020), Informe de Estabilidad Financiera (Financial Stability Report), November 2020. Viewed 
at: http://www.bcra.gob.ar/P dfs/PublicacionesEstadisticas/ief0220i.pdf . 
250 Level of indebtedness, in terms of net worth, measured as total liabilities/total net worth.  WT/TPR/S/412 • Argentina  
 
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 Table 4.10 Financial system indicators, 2013 -21 (February)  
(%) 
Indicator  2013  2014  2015  2016  2017  2018  2019  2020  Feb 
2021  
1.- Broad liquidity/total deposits  38.5 45.4 46.7 49.0 42.6 56.6 60.1 65.0 65.0 
Broad liquidity in domestic 
currency/ domestic currency 
deposits  30.0 39.1 35.8 40.4 38.9 53.6 58.1 
62.0 59.5 
2.- Liquidity with repos/total 
deposits  26.8 26.2 28.2 34.7 28.5 36.3 42.0 41.4 41.3 
3.- Liquidity/total deposits  26.7 23.9 27.5 31.7 25.2 35.9 36.3 27.2 27.3 
Liquidity in domestic 
currency/domestic currency 
deposits  17.2 16.4 16.6 18.8 16.1 23.7 25.2 
13.0 12.5 
4.- Credit to the public sector/total 
assets  9.4 9.0 10.3 8.9 8.4 10.4 9.9 12.1 11.7 
5.- Credit to the private sector/total 
assets  50.9 45.8 45.0 41.6 48.3 41.2 40.8 33.3 32.8 
6.- Private portfolio irregularity  1.7 2.0 1.7 1.8 1.8 3.1 5.7 3.9 3.8 
7.-Equity exposure to the private 
sector (% equity)  -3.5 -2.9 -3.2 -2.5 -3.0 -2.4 0.6 -4.5 -4.4 
8.- ROA (annual aggregate)  3.4 4.1 4.1 3.6 2.7 4.1 5.2 2.3a 0.5a 
9.- ROE (annual aggregate)  29.5 32.7 32.4 29.6 23.4 36.1 45.2 15.8a 3.1a 
10.- Paid-up capital  13.6 14.7 13.3 16.7 15.6 16.0 17.6 23.2 24.7 
11.- Paid-up capital Tier 1  12.5 13.7 12.4 15.2 14.1 14.2 15.6 21.4 22.9 
12.- Capital position  76 90 78 93 80 84 101.7  176.3  196 
13.- Financial margin    11.1 12.0 10.4 10.6 12.5 11.0 11.5b 
a From 2020 onwards, inflation -adjusted.  
b Previous 12 months.  
Source:  Information from the BCRA. Viewed at: 
http://www.bcra.gov.ar/PublicacionesEstadisticas/Informe_mensual_sobre_bancos.asp . 
4.221.   The financial system continued to record nominal profits during the period under review, 
which has helped to consolidate its solvency levels. Profits increased between 2013 and 2015, then 
entered a downward phase in 2016 and 2017 before rebounding again from 2018 onwards. In 2 019, 
an annual aggregate return on assets (ROA) of 5.2 % was recorded, well above the 3.4 % recorded 
in 2013, in addition to a return on equity (ROE) of 46.4 % (29.5 %). In 2020, those indicators were 
adjusted for inflation.251 The 2020 annual result showed gai ns in real terms, with a real ROA of 2.4 % 
and a real ROE of 16.2 %, indicating profitability even after deducting the effects of inflation.  
4.222.   In line with the above, during the period under review, the Argentine financial system 
continued to show adequate sol vency levels, even during the most difficult economic times and in 
spite of the negative effects of the COVID -19 pandemic. The solvency levels of the financial system 
continued to be comfortably above the minimum prudential requirements. The paid -up capita l (RPC 
or computable net equity) amounted to 24.7 % of risk -weighted assets (RWA) in February  2021. The 
regulatory capital position (RPC minus requirement) for the aggregate of institutions reached 
196.4 % of the requirement in February  2021.252 However, the irregular loan ratio in the private 
portfolio increased during the period under review, rising, on average for all financial institutions, 
from 1.7 % of total loans in 2013 to 3.8 % in February  2021.253 In this respect, the authorities have 
noted that provisi oning of the irregular loan portfolio is high and that gross credit risk exposure is 
moderate.254 In this regard, coverage of the balance of irregular loans with accounting provisions 
attributable to this portfolio in December  2020 was estimated at 151 %, and coverage of all credit to 
 
251 From January 2020 onwards, financial institutions presented their financial statements in uniform 
currency, as r equired by Communication "A” 6651, in line with International Accounting Standard (IAS) 29. As 
a result of the change, certain items (e.g. ROE) are not directly comparable from January 2020 with the results 
of previous months (not expressed in uniform curr ency).  
252 BCRA (2020), Report on Banks, December 2020. Viewed at: 
http://www.bcra.gob.ar/Pdfs/PublicacionesEstadisticas/InfBanc1220.pdf . 
253 In order to mitigate part of the  economic effects caused by the pandemic and the health measures 
adopted to reduce its impact on the population, in March 2020 the parameters for classifying debtors in the 
financial system were amended and certain relief measures were implemented by the B CRA for the same 
purpose.  
254 BCRA (2019), Financial Stability Report, November 2019. Viewed at: 
http://www.bcra.gob.ar/Pdfs/PublicacionesEstadisticas/ief0219i.pdf . WT/TPR/S/412 • Argentina  
 
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 the private sector, at 5.8 % (5.9% as at February  2021).255 Overall, risk levels in the financial sector 
have remained moderate, partly due to high liquidity. The authorities also highlight the low exposure 
of the financial system  to the public sector256,mainly as a result of the set of prudential rules 
introduced in a timely manner to limit this source of credit risk and the moderate direct equity 
exposure to nominal exchange rate volatility.257 
4.223.   While public sector debt is high, pri vate debt, both household and corporate, has remained 
at moderate levels. Household debt was estimated at 5.5 % of GDP as at December  2020. With 
respect to the corporate sector, debt is also low as a percentage of GDP. The authorities have 
stressed that the  micro - and macro -prudential rules in place for the Argentine financial system focus 
on the particularities of the local environment but take into account international best practices. 
Argentine regulation was reviewed in 2016 by the Basel Committee under its Regulatory Consistency 
Assessment Programme (RCAP), and again in 2019 in relation to the country's Large Exposures 
(LEX) and Net Stable Funding Ratio (NSFR) regulations. In both instances, Argentina was found to 
be in compliance with international reco mmendations.258 
4.224.   In line with the rise in inflation, lending rates increased significantly during the period under 
review. For example, interest rates for personal loans mainly channelled to households and advances 
to businesses, which were around 34.2 % and 14.5%, respectively, in March  2013, reached 71.6 % 
and 58.6 % by the end of 2019. In the following months, there was some decline in rates, which was 
reinforced by the anti -COVID -19 measures taken that resulted in a significant decline in the average 
interes t rate. The rate on personal loans stood at 56 % in March  2021, while the rate on advances 
was 36.1 %.259 The liquidity bill (LELIQ) rate which is the benchmark rate, peaked at 86 % per annum 
in September  2019 and then gradually declined. Further declines followed and the rate ended the 
year at 55 %, falling to 38 % at the end of 2020, a value that was maintained at the beginning of 
2021.260 
4.225.   Since 2002, Argentina has been reducing publi c-sector financing from financial institutions. 
During the period under review, that trend became more pronounced. In 2017, the BCRA introduced 
new rules on the purchase of government securities issued in pesos by central administrations of 
the provincial,  municipal and/or CABA non -financial public sector. It is stipulated that, in order to be 
able to purchase securities from these entities, annual debt service must not exceed 15 % of the 
current resources of the jurisdiction concerned for that period, or 20 % in the case of fiscal years in 
which the application of this provision is suspended.261 In addition, the total financing granted to the 
municipal public sector may not exceed 15 % of the total amount of the computable net equity of 
the entity; and the acqu isition of public securities issued in pesos by the central administration of 
the non -financial public sector of the province and/or of CABA which do not have guarantees may 
not exceed 5 % of the entity's net equity. These percentages may be increased by 50  percentage 
points, if the increases involve the granting of financial assistance to trusts or trust funds, or the 
purchase of debt instruments issued by them. The total amount of financing granted to the national, 
provincial, regional, CABA and municipal public sector may not exceed 75 % of the entity's 
computable net equity. In the context of the economic emergency (2019/2020), the granting of 
credit to the various provincial and municipal governments to pay salaries was relaxed.262 From the 
 
255 BCRA (2020), Report on Banks, December 2020. Viewed at: 
http://www.bcra.gob.ar/Pdfs/PublicacionesEstadisticas/InfBanc1220.pdf . 
256 The BCRA notes that the aggregate public sector retains its net creditor position vis -à-vis the 
financial system. See: BCRA (2019), Financial Stability Report, November 2019. Viewed at: 
http://www.bcra.gob.ar/Pdfs/ PublicacionesEstadisticas/ief0219i.pdf . Credit to the public sector totalled 10.9 % 
of total assets at the end of the third quarter of 2020 (11.7 % as of February 2021).  
257 Foreign currency assets represented 19.1 % of total assets in September 2020, while for eign 
currency liabilities amounted to 17.9 % of total funding, both lower than in March 2020. BCRA (2020), Financial 
Stability Report, November 2020. Viewed at: 
http://www.bc ra.gob.ar/Pdfs/PublicacionesEstadisticas/ief0220i.pdf . 
258 BCRA (2019), Financial Stability Report, November 2019. Viewed at: 
http://www.bcra.gob.ar/Pdfs/PublicacionesEstadist icas/ief0219i.pdf . 
259 BCRA (2021), Statistical Bulletin, January 2021. Viewed at: 
http://www.bcra.gov.ar/Pdfs/PublicacionesEstadisticas/BoletinEstadist ico/boldat202101.pdf . 
260 BCRA. Viewed at: http://www.bcra.gov.ar/PublicacionesEstadisticas/Historial -Leliq.asp . 
261 International risk rating AAA to AA -, 20%; A+ to A -, 50%; BBB+ to BBB -, 100%; BB+ to B -, 150%; 
below B - and not rated, 200 %. Communication "A" 6270 of 7 July 2017. Viewed at: 
http://www.bcra.gov.ar/pdfs/comytexord/A6270.pdf . 
262 Communication "A" 6816 , Communication "A" 6852 , Communication "A" 6919, Communication "A" 
7075 and Communication "A" 7207 . WT/TPR/S/412 • Argentina  
 
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 end of August  2020, institutions were allowed to reallocate the available (unused) quota of the limit 
established for financing to the non -financial public sector (75 % of RPC).263 
4.226.   In order to mitigate the spread and impact of the COVID -19 pandemic, the BCRA has been 
taking measures since 20  March  2020 to protect savers and boost lending, while ensuring the 
functioning of the payment system and preserving the aggregate levels of liquidity and solvency 
coverage in the financial system (Box 4.1).264 
Box 4.1 Financial measures adopted to address the COVID -19 pandemic  
From March  2020 onwards, the BCRA promoted measures to facilitate access to liquidity and credit, including credit 
to MSMEs and health service providers, with an interest  rate of up to 24% per annum, both for companies with 
banking access and those without access to credit. Progress was also made in the implementation of zero -rate loans 
for members of the simplified regime for small taxpayers and the self -employed. In addi tion, the BCRA implemented 
subsidised -rate loans for businesses, intended for companies registered in the work and production emergency 
assistance programme (ATP). In October  2020, the BCRA approved a new MSME productive investment financing 
scheme aimed a t companies affected by the pandemic, as well as MSMEs wishing to expand their production 
processes. At the end of March  2021, measures were designed for improving access to credit for MSMEs and 
individuals not yet served by the financial system, as well a s for promoting banking access and the use of electronic 
means of payment. In addition to these measures, others were designed in early 2020 to ease the financial burden 
on the private sector in the context of the COVID -19 pandemic, including temporary ame ndment of the parameters 
for classifying debtors and the possibility of transferring unpaid instalments at the end of the life of the loan, with 
only compensatory interest accruing.  
Communication A 6937 of 19  March  2020 (Official Journal of 30 March  2020) provided for the following:  
(a) the release of liquidity for the financing of MSMEs by reducing, from 20  March to 30  April 2020, the BCRA's 
liquidity bill (LELIQ) holdings in excess of the minimum cash requirement in pesos to 90% of the leve l recorded on 
19 March  2020.  
(b) effective as of 20  March  2020, a 40% decrease in the minimum average cash requirement in pesos for loans to: 
(i) MSMEs, agreed at a nominal annual interest rate of up to 24%; (ii) health service providers, to the extent tha t 
they provide hospitalization services within the framework of the health emergency and are used for the purchase of 
medical supplies and equipment (as amended by Communication A 6944 of 24  March  2020 (Official Journal of 
31 March  2020).  
(c) effective 20  March  2020, release "potential credit" for MSMEs, resulting from the reduction of the admitted excess 
holdings of financial institutions. Potential credit is defined as the lower of: the sum of 10% of LELIQ holdings in 
excess of the minimum peso cash requi rement registered as of 19  March  2020; or 4% of deposits.  
Communication A 7006 of 8  May 2020 (Official Journal of 12  May 2020) provided for the following:  
(a) for financial institutions to reduce their net LELIQ position in excess of the minimum peso cash  requirement by 
an additional 1% of the surplus position registered as of 19  March  2020;  
(b) for a decrease in the average minimum cash requirement in pesos for an amount equivalent to 40% of the 
financing in pesos to MSMEs that are agreed at an annual nom inal interest rate of up to 24%, measured as a monthly 
average of daily balances of the previous month;  
(c) that financial institutions grant financing to MSMEs at a nominal annual interest rate of up to 24%, when they are 
guaranteed by FOGAR, for the amou nt covered by that guarantee;  
(d) the reduction of the surplus net position allowed in the prudential rules as from 1  July 2020 in accordance with 
the credit granted to MSMEs.  
Decree No.  332/2020 (Official Journal of 1  April 2020) instituted the zero -rate credit scheme for persons enrolled in 
the simplified regime for small taxpayers and for self -employed workers. The measure consists of financing to be 
credited to the beneficiary's credit card in three equal, consecutive monthly instalments for an amount not to exceed 
one quarter of the upper limit of gross income established for each category of taxpayer, with a limit of ARS  150,000. 
Communication A 6993 of 24  April 2020 (Official Journal of 28  April 2020) regulates the zero -rate credit scheme. A 
grace pe riod of six months from the first tranche of credit and a repayment schedule of at least 12 equal, consecutive 
monthly instalments were granted.  
The National Productive Development Fund (FONDEP) subsidizes 100% of the interest rate and the total financial  
cost of the loans under the zero -rate credit scheme, with resources of ARS  11,000  million allocated for this purpose. 
The interest rate recognized by FONDEP to financial institutions, according to Decree N°332/2020, is 15% nominal 
annual interest on the b alance of disbursed financing. It also provides that the minimum cash requirements for these 
credits will be reduced by 60%.  
The Argentine Guarantees Fund (FOGAR), through a specific allocation fund, guarantees up to 100% of zero -rate 
loans for individuals , with resources of ARS  26 billion earmarked for that purpose.  
Source:  Various BCRA communications and information provided by the authorities.  
4.227.   In addition to the above, the BCRA introduced measures to protect peso savings. A minimum 
interest rate was est ablished for peso -denominated fixed -term deposits equivalent to 97.37 % of the 
 
263 Communication "A" 7097 . 
264 BCRA (2020), Report on Banks , March 2020. Viewed at: 
https://www.bcra.gob.ar/Pdfs/PublicacionesEstadisticas/infbanc0320i.pdf . WT/TPR/S/412 • Argentina  
 
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 monetary policy rate (37.0 % per annum) for individuals up to ARS  1 million, and 89.48 % of the 
monetary policy rate (34.0 % per annum) for all other non -financial private sector ho lders, increasing 
the return on these deposits, which were at levels below 20 % per annum. In May  2020, financial 
institutions were allowed to fully integrate minimum cash requirements for these deposits with 
LELIQs. The BCRA also raised its reverse repo in terest rate with financial institutions from 11.4 % to 
19% (from 30 % to 50% of the monetary policy rate)265, as well as cutting reserve requirements for 
peso demand deposits of mutual investment funds to 0 %.266 
4.228.   As regards credit measures adopted by the BCRA to alleviate the financial situation of 
households and companies, the BCRA said that between 20  March and 4  November  2020, the special 
line for MSMEs and health service providers at a nominal rate of 24 %267, registered operations for 
ARS 544,127  millio n distributed among 327,844 companies. Of the total loans granted, 
approximately ARS  9.21 billion went to health service providers. The remainder went to MSMEs and 
was distributed as follows: 47 % to working capital, 13 % to pay salaries, and the remaining 4 0% to 
other uses. As of the same date, banks had loans of ARS  5,746  million approved but not yet 
disbursed, and ARS  2,744  million in the process of approval.268 Under the MSME productive 
investment financing line (LFIP)269, between its initial implementation  and the end of March  2021, 
ARS 411,678  million were disbursed (of which ARS  78,429  million correspond to investment 
projects), reaching 98,080 companies. Through the line of financing at subsidised interest rates for 
companies registered in the work and p roduction emergency assistance programme (ATP)270, until 
the end of March  2021, ARS  14,240  million was granted, covering almost 607,800 workers. Within 
the framework of credit lines aimed at members of the simplified regime for small taxpayers and the 
self-employed, as at the end of March  2021, ARS  66,478  million had been granted through the 
zero-rate credit scheme271, and ARS  309 million through the zero -rate credit scheme for culture.  
4.4.2.2.2   Legislative framework  
4.229.   Law No.  21.526 (Law on financial institutions) (Off icial Journal of 21  February  1977) and its 
more than 200 amendments contain the main legal provisions concerning the regulation of the 
banking system and other financial institutions.272 The BCRA is responsible for the application of this 
Law and, in genera l, supervision of the financial intermediation system, in accordance with its 
Charter and the extended powers conferred on it by Law No.  25.782. As regards the supervision of 
financial institutions, the BCRA operates through the Supervisory Authority for F inancial and Foreign 
Exchange Establishments (SEFyC).  
4.230.   Under Argentine law, there is freedom of establishment, provided that institutions comply 
with prudential requirements. There are no restrictions as to the nationality of investors wishing to 
participat e in the local financial system or as regards the transactions that may be conducted by the 
institutions in which they participate inasmuch as the principle of equal treatment for Argentine and 
foreign capital prevails. The establishment of new financial i nstitutions, their expansion, merger and 
changes in their capital or functions require prior (non -automatic) authorization from the BCRA. 
Upon submission of an application, the BCRA takes into account in its determination considerations 
of expediency, the features of the project, market conditions, the record and responsibility of the 
 
265 The BCRA implements a contingent repo programme to boost liquidity. To that end, the BCRA agreed 
with certain international banks the option of selling national govern ment securities and receiving the 
corresponding funds in dollars. For this operation, the BCRA pays a premium averaging 32 basis points per 
annum. At maturity, the BCRA repurchases the securities at the sale price plus a spread equivalent to Libor 
plus an average spread of 2 %. The minimum term of the agreement is two years. When the market value of 
the securities applied to a transaction decreases by more than 5 %, the BCRA makes up the difference with 
securities of the same type up to 125 % of the amount of the transaction. If the price of the securities originally 
delivered when executing a transaction falls below the purchase value, the BCRA must pay the difference in 
cash. BCRA, Normas Prudenciales del Sistema Financiero Argentino . Viewed at: 
http://www.bcra.gov.ar/Pdfs/SistemasFinancierosYdePagos/mas1101.pdf . 
266 BCRA (2020), Informe de Política Monetaria (Monetary Policy Report), May 2020. Viewed at: 
https://www.bcra.gob.ar/Pdfs/PoliticaMonetaria/IPOM0520_i.pdf . 
267 Communication "A" "6937" and amendments thereto.  
268 BCRA (2020), Monetary Policy Report, May 2020. Viewed at: 
https://www.bcra.gob.ar/Pdfs/PoliticaMonetaria/IPOM0520_i.pdf . 
269 For further details, see Communication "A" 7140 and amendments thereto.  
270 See Communication "A" 7082 and Communicat ion "A" 7102.  
271 See Communication "A" 6993.  
272 Laws Nos.  22.051, 22.529, 22.871, 24.485, 24.627, 25.562, 25.780, 25.782, 26.173 and 
Decree  No. 214/2002.  WT/TPR/S/412 • Argentina  
 
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 applicants and their financial experience. There are no legal restrictions on the market entry or 
withdrawal of financial institutions, or on their merger or takeover.  
4.231.   Financi al institutions may be established in the form of commercial banks, investment banks, 
mortgage banks, finance companies, savings and loan associations for housing and other real estate, 
or credit funds. Depending on the transactions they are authorized to conduct, commercial banks 
are classified into first -tier and second -tier banks. Financial entities incorporated with public capital, 
whether national, provincial or municipal, are constituted in the form established by their organic 
charters. Private finan cial entities must be established in the form of a limited company, with the 
exception of: branches of foreign entities, which must have a representative in the country with 
sufficient powers under Argentine law; commercial banks, which may also be establi shed in the form 
of a cooperative society; and credit funds, which may only be established in the form of a cooperative 
society. Financial institutions may hold shares in other financial institutions, subject to authorization 
by the BCRA, but are prohibite d from operating commercial, industrial, agricultural or other business 
enterprises on their own behalf, unless expressly authorized by the BCRA, which must issue a general 
authorization that sets out the limits and terms guaranteeing that the institution' s solvency and 
assets are not affected. Institutions must allocate annually to the legal reserve fund the proportion 
of their profits established by the BCRA, which shall not be less than 10 % or more than 20 %. 
4.232.   The opening of branches, whether by Argentine or foreign financial institutions, also requires 
prior approval from the BCRA and they must comply with the prudential regulations concerning 
minimum capital, liquidity, solvency, risk and return. In the case of foreign institutions establishing 
branches i n Argentina, the country of origin must also have a consolidated supervisory regime, and 
the capital required must be actually and permanently located in Argentina. Representative offices 
of foreign financial institutions require prior authorization from t he BCRA, which is contingent upon 
its examination and assessment of the project concerned. The SEFyC considers applications made 
by institutions established abroad that are authorized by the competent authority in the country of 
origin to take deposits fro m the public and which have not been established in countries classified 
as having low or no taxes. The applicant institution must also comply with the internationally 
accepted principles, standards or rules on the prevention of money laundering and financ ing of 
terrorism and be subject to a consolidated monitoring system. The supervisory authority in the 
country of origin must also observe the Basel Core Principles for Effective Banking Supervision.  
4.233.   The merger of financial institutions and the takeover of one institution by another require 
prior authorization from the BCRA. The transfer of funds between institutions in the same or different 
categories must also be approved by the BCRA. The transformation of a financial institution into 
another financial ins titution of a different category is allowed with the prior approval of the BCRA, 
provided that the institution does not present liquidity, solvency, risk or profitability problems, and 
complies with minimum capital requirements and other prudential regulat ions. The exception is 
credit funds, which may not transform themselves into commercial institutions or transfer their funds 
to institutions with a different legal status.  
4.234.   Since 2016, the opening of branches for domestic private and public capital entities  does not 
require prior authorization from the BCRA.273 The previous system of authorizations has been 
replaced by the obtaining of a licence as a result of compliance with a series of objective factors 
relating to solvency, liquidity and minimum paid -up ca pital to be met by the financial institution.274 
The BCRA extended the use of mobile branches to all banks; previously it was restricted to public 
banks or private banks operating as provincial financial agents. Official financial institutions in the 
provin ces and municipalities may authorize branches in their respective jurisdictions subject to 
notifying the BCRA, which may declare its opposition if the regulatory requirements for authorization 
are not met. Authorizations for cooperative credit funds are de limited by areas of operation and the 
number of branches they can open is in principle limited to five within their area of operation.  
4.235.   Financial institutions require prior authorization from the BCRA to open subsidiaries or any 
type of representative offic e abroad. The requirements are similar to those relating to the opening 
of branches in Argentina, but the consent of the foreign country also has to be obtained. No 
authorization is needed for holdings in foreign financial institutions provided they do not  exceed 5 % 
 
273 BCRA (2016), Texto Ordenado de las Normas sobre "Expansión de Entidades Financieras",  in 
Communication  "A" 5983 of 3 June 2016. Viewed at: http://www.bcra.gov.ar/Pdfs/comytexord/A5983.pdf . 
274 BCRA, El BCRA fomenta la apertura de sucursales bancarias en todo el país . Press note of 2 June 
2016. Viewed at: http://www.bcra.gov.ar/Pdfs/Prensa_comunicacion/NotadePrensaII_02 -06-16.pdf . WT/TPR/S/412 • Argentina  
 
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 of the capital or votes in the said institutions; if they do exceed this limit, prior authorization has to 
be obtained from the SEFyC.  
4.236.   The BCRA sets the prudential regulations under which the financial institutions in the system 
must operate, an d supervises compliance with them. Regulation and supervision are based on the 
recommendations of the Basel Committee on Banking Supervision and a ratio of total capital to 
risk- weighted assets of at least 8 % is required. The capital requirements for each  financial institution 
are determined taking into account the risks implicit in their various activities. According to the 
regulations, financial institutions are subject to minimum capital requirements. The minimum capital 
requirement that financial insti tutions must meet is either the basic requirement or the sum of those 
determined for credit, market and operational risks, whichever is higher. In order to calculate the 
basic requirement, institutions are classified according to the jurisdiction in which their head office 
is located, in accordance with the categories set out in the rules on "Categorization of locations for 
financial institutions". The requirement is related to the relative supply of banking services; for that 
purpose, the national territor y has been divided into six regions, according to their degree of banking 
presence. As of June  2020, the basic requirement for banks was ARS  15 million (categories III to 
VI) and ARS  26 million (categories I and II); for credit funds between ARS  0.5 millio n and 
ARS 5 million; and for other institutions between ARS  8 million and ARS  12 million, respectively.275 
Finance companies that engage directly in foreign trade transactions must observe the requirements 
laid down for banks in the respective category.276 
4.237.   The minimum credit risk capital requirement is determined by weighting the requirements 
for the different assets according to their risk, multiplied by a rating factor determined by the SEFyC 
on the basis of the institution's performance and which varies be tween 1 (highest) and 1.19 (lowest). 
Assets are classified according to their risk and assigned a weighting, ranging from 0 to 200 %. 
Zero-risk assets are cash and cash equivalents and instruments of multilateral organizations, 
exposures to the BCRA, to the  national government and to provincial and municipal governments 
and CABA in ARS. All other exposures to governments and central banks are weighted from 0 to 
150%, depending on the rating of the debtor. Exposures to peso -denominated financial institutions 
whose source of funds is in pesos, for transactions with an original contractual term of up to 
3 months, have a risk weighting rate of 20 %. The capital requirement for market risk, which is 
defined as the possibility of incurring losses on recorded on - and off -balance sheet positions as a 
result of adverse fluctuations in market prices, is calculated on the basis of the value -at-risk of 
instruments that are normally traded in the market. The capital requirement for market risk is the 
arithmetic sum of t he capital requirement for interest rate, equity, foreign exchange, commodity 
and option risks. The operational risk requirement is calculated on the basis of gross revenue 
(provided that it is positive) for consecutive 12 -month periods in the last 36 mont hs prior to the 
month in which the calculation is made, subject to certain adjustments.  
4.238.   Minimum cash conditions also apply, in accordance with the harmonized text of the BCRA's 
Minimum Cash Rules.277 In order to meet these requirements, financial institutio ns are classified into 
two groups: Group "A" (entities in which the amount of their assets is greater than or equal to 1 % 
of the total assets of the financial system) and banks classified as systemically important (G -SIBs) 
not included in this group; and o ther financial institutions. The minimum cash requirements for 
current account deposits and demand accounts opened in cooperative credit funds, as well as savings 
deposits, in pesos, are 45 % of deposits for the first group, and 20 % for the second. In the c ase of 
foreign currency savings deposits, the requirement is 25 % for both groups of institutions. For 
fixed-term deposits, liabilities under "acceptances", reverse repos and reverse stock market repos, 
constant term investments, and other term obligations except deposits and debt securities, the 
requirement varies according to their currency and residual maturity.  
4.239.   Banking institutions may receive financial assistance from the BCRA if they have temporary 
liquidity problems and have exhausted all other financ ial assistance policy alternatives. An institution 
is considered illiquid when it has a liquidity ratio of less than 20 %. Assistance is offered for a period 
of 180 days and may be renewed for periods of the same length, with interest paid every 30 days. 
 
275 BCRA (2020), Capitales Mínimos de las Entidades Financieras  - Last Communi cation incorporated: 
"A" 7036 - Harmonized text as at 4 June 2020. Viewed at: https://www.bcra.gob.ar/Pdfs/Texord/t -capmin.pdf . 
276 BCRA (2020), Capitales Mínimos de las Entidades Financieras  - Last Communication incorporated: 
"A" 7036 - Harmonized text as at 4 June 2020. Viewed at: https://www.bcra.gob.ar/Pdfs/Texord/t -capmin.pdf . 
277 BCRA (2020). Efectivo Mínimo , Harmo nized text as at 4 June 2020. Last Communication 
incorporated: "A" 7036, in force as of 1 June 2020. Viewed at: https://www.bcra.gob.ar/Pdfs/Texord/t -
efemin.pdf . WT/TPR/S/412 • Argentina  
 
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 In the event of the liquidation of a banking institution, payments to creditors, with the exception of 
claims with special pledge and mortgage privileges and labour creditors, are made in the following 
order: (1) deposits made by natural and/or legal persons  up to the amount of ARS  50,000, or its 
equivalent in foreign currency; (2) larger deposits exceeding the foregoing; and (3) liabilities derived 
from credit lines granted to the institution that directly affect international trade. The BCRA is 
authorized t o exclude certain assets and liabilities from a bank's restructuring process.278 
4.240.   Financial institutions may participate without limits in the capital of companies that provide 
complementary services, such as management of mutual investment funds, stock mark et agents, 
credit card issuance, and other activities expressly permitted by the BCRA. On the other hand, 
financial institutions' holdings in the capital of commercial, industrial or agricultural companies 
require authorization from the BCRA and may not ex ceed 12.5 % of their share capital or 12.5 % of 
the votes and must not affect the solvency of the institution concerned.  
4.241.   Argentina's financial sector regulations contain provisions on credit splitting and credit rating 
to limit economic risk. As a general ru le, total financings may not exceed 100 % of adjusted 
stockholders' equity (ASE). This limit is raised to 300 % when the additional support does not exceed 
2.5% of the financial institution's ASE and is approved by the board of directors or equivalent 
author ity. Limits are also set on credit assistance, which are a percentage of the financial institution's 
tier 1 capital (net basic worth).279 The individual limits for transactions with the private sector, as a 
percentage of the financial institution's tier 1 capital, are as follows: for non -financial private sector 
customers, 15 % unsecured and 25 % secured; for domestic and foreign financial in stitutions, 25 %; 
for foreign entities not rated as investment grade, 5 %; for mutual guarantee societies registered 
with the BCRA, 25 %; for the national public sector, 50 %; for provincial jurisdictions and CABA, 10 %; 
and for municipalities, 3 %. Overall, ass istance to the public sector may not exceed 75 % of the 
entity's ASE, or 35 % of its assets. There are also limits on risk concentration, which may not be 
greater than three times or five times the institution's ASE, depending on whether or not lending to 
local financial institutions is excluded; or 10 times in the case of second -tier banks when their 
transactions with other financial institutions are taken into account.  
4.242.   Limits are also applied to the financing that may be granted to customers linked in terms  of 
control, which are determined on the basis of the institution's tier 1 capital and the supervisory 
authority's CAMELS rating. For institutions with a CAMELS rating of 1 to 3 (better risk), there is a 
limit of 10 % of the ASE per client for secured trans actions and 5 % for unsecured transactions. A 
limit of 10 % is set for investment -grade foreign banks and companies that provide complementary 
services to the activity carried out by the financial institution. That limit may reach 100 % of tier 1 
capital when  the activity carried out by this company is that of trading agent, settlement and clearing 
agent (integral or proprietary), producing agent and/or brokerage agent for negotiable securities, 
issuing credit cards, factoring, leasing and temporary acquisitio n of holdings in companies to 
facilitate their development, with the aim of subsequently selling the holdings, provided that the 
controlling company has a CAMELS  1 rating. Institutions rated 4 to 5 are prohibited from providing 
assistance to related custom ers, unless they are foreign subsidiaries of the domestic institution 
subject to consolidated supervision or foreign banks controlling domestic institutions. In addition, 
there is an overall limit of 20 % of tier 1 capital for connected customers; total con nected customer 
lending plus total immobilized assets of an institution may not exceed 100 % of the ASE.  
4.243.   Financial institutions are required to provide the SEFyC with periodic reports on their asset 
position and compliance with technical and operational reg ulations. Any transfer of shares or 
contribution of capital or other circumstance liable to lead to a change in the status of the entities 
or to alter the structure of the respective groups of shareholders groups must be reported. Changes 
in the capital ow nership of foreign enterprises that control financial institutions established in 
Argentina must also be notified.  
4.244.   Bank deposits, up to a certain limit, are protected through the resources of the deposit 
guarantee fund (FGD).280 The FGD provides subsidiary and complementary coverage in addition to 
that provided in the Law on financial establishments. The FGD is managed by Seguro de Depósitos 
 
278 Law No. 25.780 (Official Journal of 8 September 2003).  
279 The adjusted stockholders’ equity (ASE) (Spanish: RPC) of financial institutions is:  ASE/RPC = PNb 
+ PNc - Cd, where PNb: net basic worth; PNc: ne t complementary worth; Cd: deductions.  
280 Pursuant to Law No. 24.485, Official Journal of 18 April 1995, which created the deposit guarantee 
insurance scheme.  WT/TPR/S/412 • Argentina  
 
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 S.A. (SEDESA).281 The system is compulsory and onerous, in the sense that all financial institutions 
must make fixed mo nthly contributions to the FGD.282 These contributions consist of a base 
contribution corresponding to the current premium of 0.015 % of the average daily balance of 
deposits in pesos and foreign currency in financial institutions, and an additional contribution 
depending on the institution's risk level. The guarantee scheme's coverage does not include the 
following deposits: (i) transf erable time deposits where ownership has been acquired by 
endorsement; (ii) demand deposits where interest rates above the benchmark rate are agreed, and 
time deposits and investments exceeding 1.3 times the benchmark rate or the benchmark rate283 
plus 5 pe rcentage points (whichever is higher); they are also excluded where these interest rate 
limits are distorted by additional incentives or remuneration; (iii) deposits of financial institutions 
with other intermediaries, including fixed -term certificates acq uired through secondary trading; 
(iv) deposits made by persons directly or indirectly related to the institution; (v) fixed -term deposits 
of securities, acceptances or guarantees; and (vi) immobilized balances arising from deposits and 
other excluded trans actions.284 
4.245.   FGD resources are invested on similar terms to those fixed for placement of the BCRA's 
international foreign currency reserves. The system guarantees up to ARS  1.5 million per person, 
account and deposit.285 The new cap was fixed as of 1  May 2020 by means of BCRA Communication 
"A" 6973 of 16  April 2020. Previously, the cap was ARS  1 million. The FGD has dealt with 40 cases 
between October  1996 and June  2020, disbursing a total of ARS  2,122.9  million. Of these, only one 
case was serviced during the  period under review, in 2018, for ARS  150 million (Banco Finasur).286 
SEDESA publishes the available balance of resources of the FGD monthly in the Official Journal. As 
at 30 April 2020, the balance available in the FGD was ARS  200,817.0  million (USD  3.2 billion at the 
June 2020 exchange rate), equivalent to 3.5 % of the financial system's deposits and well above the 
1.4% recorded in the report for the previous TPR.287 
4.246.   Credits and debits made on accounts opened in institutions governed by the Law on financial  
establishments are subject to the tax on debits and credits in current accounts.288 The general rate 
is 0.6 % for credits; for movements of funds, it is 1.2 %; for transactions covered by tax exemptions 
or social works, it is  0.25% or 0.5 %; for credit card p ayments, a rate of 0.075 % is applied. Article  45 
of Law No.  27.541, Official Journal of 23  December  2019, provided that, as from that date, when 
cash withdrawals are made in any form, debits made to accounts will be subject to double the current 
rate, i.e.  0.3%. This does not apply to accounts whose holders are MSMEs. Under Law No.  23.427, 
Official Journal of 3  December  1986 and amendments, a special levy is imposed on the capital of 
cooperatives. The levy is of a transitory nature; initially it was for 32 fiscal periods (it was to end 
with the 2017 fiscal year), but Law No.  27.432, Official Journal of 29  December  2017, extended the 
term to 37 fiscal periods, i.e. until 31  December  2022. The rate is 1.25 % for the first year and 2 % 
for the following years.  
4.247.   According to current BCRA regulations, in order to operate permanently or habitually in the 
Single Free Exchange Market, any legal person not authorized under the Law on financial 
establishments must first obtain authorization for that purpose, for which it must register in the 
 
281 A private limited company created by PEN Decree No. 540/95.  
282 The system is ex ante, and involve s the building up of a reserve or deposit fund to cover demands 
for insurance as a precaution against the collapse of a member institution. Information from SEDESA. Viewed 
at: http://www.sedesa.com.ar/index.php/es/fondo -de-garantia -de-los-depositos . 
283 The benchmark rates are communicated periodically through BCRA “B” communications and are 
determined according to the moving average of the last five banking days for rate s for time deposits of up to 
ARS 100,000 (or the equivalent in other currencies).  
284 BCRA, Communication "B" 12003 of 4 May 2020. Viewed at: 
http://190.210.189.170/images/PDF/2020/B12003.pdf . 
285 Information from SEDESA. Viewed at: http://www.sedesa.com.ar/index.php/es/sistema -de-seguro -
de-depositos/caracteristicas -del-sistema . 
286 Banco Galicia assumed the liabilities of Banco Finansur and the assets were incorporated into the 
Fidensur trust. Information from SEDESA. Viewed at: 
http://190.210.189.170/index.php/es/?option=com_content&view=article&id=214&catid=95&lang=es&Itemid
=759 . 
287 Information from SEDESA. Viewed at: 
http://190.210.189.170/index.php/es/?option=com_content&view=article&id=211&catid=95&lang=es&Itemid
=756 . According to the regulations, if the FGD reaches 5 % of the total deposits in the financial system, the 
BCRA may suspend or reduce the obligation to contribute to the FGD.  
288 Law No. 25.413, Official Journal of 26 March 2001, and Decree No. 380/01 of 30 March 2001 and 
amendments.  WT/TPR/S/412 • Argentina  
 
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 Registry of Foreign Exchange Operators (ROC) set up by the BCRA. Persons requesting authorization 
to act in the foreign exchange market on an individual basis may do so in the form of single -person 
legal entities such as simplified cor porations (SAS) and joint -stock one -person companies (SAU).289 
Such institutions may be in the form of exchange houses or exchange agencies. The minimum capital 
requirement for exchange houses is ARS  10 million, and for exchange agencies ARS  5 million. 
Exchange houses and agencies must also provide a guarantee of not less than 10 % of their capital 
requirement, and provide proof of the origin of those funds.  
4.4.2.3   Capital market  
4.248.   The supervisory body of the capital market is the National Securities Commission (CNV).  The 
Argentine capital market currently comprises the Argentine stock exchange system, led by Bolsas y 
Mercados Argentinos (BYMA); MATBA -ROFEX; Mercado Argentino de Valores (MAV); and the 
Electronic Open Market (MAE). A central depository agent for transfe rable securities (Caja de Valores 
S.A.), which is also a custody, registry and payment agent, also operates. Moreover, Argentina 
Clearing y Registro S.A. is registered with the CNV as custody, registration and payment agent and 
a clearing house of MATBA -ROFEX S.A. In addition, there are other categories of agents registered 
with the CNV, such as settlement and clearing agents (ALyC), trading agents and global investment 
advisors.  
4.249.   In 2013, the Buenos Aires Securities Market (Merval) implemented a corporate 
reorganization, partially spinning off its assets to form a new entity to continue Merval's business.290 
In the constitution of the new entity (BYMA), the Buenos Aires Stock Exchange was incorporated as 
a shareholder. BYMA started operating as an exchange an d clearing house in 2017. Merval and the 
Buenos Aires Stock Exchange (BCBA) decided to contribute all of their shareholdings in Caja de 
Valores S.A. (CVSA), leaving BYMA as the owner of CVSA (Box 4.2). In 2019, the spin -off and merger 
of the Rosario Future s Exchange (ROFEX) and the Buenos Aires Futures and Options Exchange 
(MATBA) was completed, forming a new institution, MATBA -ROFEX.  
Box 4.2 Constitution of Bolsas y Mercados Argentinos Sociedad Anónima (BYMA)  
The Law on capital markets, No.  26.831 of 27  December  2012, introduced a comprehensive reform of the previous 
public offering regime, effective as of 28  January  2013, reforming regulator y and operational aspects of the capital 
market and expanding the regulatory powers of the CNV in the area of public offerings.  
In order to implement the provisions relating to the new capital market provided for in Law No.  26.831, on 
1 March  2013 the shareholders of Mercado de Valores de Buenos Aires S.A. (Merval) and the Buenos Aires Stock 
Exchange (BCBA) signed a framework agreement for the incorporation of a company called Bolsas y Mercados 
Argentinos S.A. (BYMA), with 50% of the su bscribed capital held by Merval shareholders and 50% by the BCBA.  
The Merval Assembly approved the agreement on 9  April 2013 and on 23  July 2013 the incorporation of the new 
spin-off company, BYMA, was approved with the adoption of its articles of associa tion. 
In December  2013, the CNV, through its Resolution No.  17.242, signed off on the partial spin -off of Merval's assets. 
Subsequently, the shareholders of Merval and the BCBA signed two addenda to the framework agreement for the 
incorporation of BYMA: ( a) in April  2014, it was agreed to reformulate the increase of approved share capital in BYMA 
so that the BCBA would hold 20% of BYMA's capital stock; (b) in July  2016, it was agreed that the BCBA would 
transfer to BYMA its entire shareholding in Securitie s Fund S.A. The CNV agreed to the amendments introduced by 
the addenda to the framework agreement.  
By Resolution No.  18.424 of 29  December  2016, the CNV included BYMA in its register. BYMA's public offering regime 
was authorised by the CNV on 16  March  2017 by Resolution No.  18.559.  
At the beginning of 2017, Merval's entire shareholding in Securities Fund S.A. and Mercado Argentino de Valores S.A. 
of 1.6  million registered shares was transferred, as was BCBA's shareholding in Caja de Valores S.A. and Tecno logía 
de Valores S.A. As from 17  April 2017, the transfer and automatic registration of member agents, issuers and all 
items listed on Merval to BYMA took place.  
Source:  Bolsas y Mercados Argentinos Sociedad Anónima (2020), Interim condensed consolidated financial 
statements for the three -month period beginning on 1  January  2020 and ending on 31  March  2020. 
Viewed at: 
https://www.byma.com.ar/wp -content /uploads/2020/05/HR -2020-05-14-EEFF-BYMA -31-03-2020.pdf . 
 
289 BCRA (2020), Operadores de Cambio . Harmonized text as at 11/05/2020 – last Communication 
incorporated: “A” 70 08 – entry into force 12 May 2020. Viewed at: http://www.bcra.gov.ar/Pdfs/Texord/t -
opecam.pdf . 
290 Bolsas y Mercados Argentinos (BYMA) S.A. (2020), Interim condensed consolidated financial 
statements. For the three -month period beginning on 1 January 2020 and ending on 31 March 2020, presented 
on a comparative basis and on a uniform currency basis. Vie wed at: https://www.byma.com.ar/wp -
content/uploads/2020/05/HR -2020-05-14-EEFF-BYMA -31-03-2020.pdf . WT/TPR/S/412 • Argentina  
 
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 4.250.   The securities market regulatory framework was reformed and modernized during the period 
under review. Law No.  17.811 of 22  July 1968 on public offerings of securities was repealed and a 
new law, the  Law on capital markets (Law No.  26.831), Official Journal of 28  December  2012, came 
into force.291 Law No.  27.440 on productive financing, Official Journal of 11  May 2018, further 
amended the regulations related to the securities market, particularly vario us aspects of Law 
No. 26.831.  
4.251.   The National Securities Commission (CNV), a national self -governing entity, is the national 
body in charge of the promotion, supervision and monitoring of the capital market.292 The CNV 
supervises, regulates, inspects, oversees  and sanctions persons and companies that engage in 
activities related to the public offering of negotiable securities, other instruments, transactions and 
activities.293 Its field of supervision also includes the public offering of forward, futures and opt ions 
contracts, their markets and clearing houses, and their brokers. The CNV keeps the register of 
stockbrokers, clearing houses and of natural and legal persons authorized to offer securities to the 
public. The Law provides that an authorization from the  CNV must be obtained before securities 
issued can be offered to the public. The CNV is also empowered to issue regulations; to set the 
maximum fees that may be charged by markets, clearing houses, derivatives registration entities 
and registered dealers; to issue rules to promote the transparency and integrity of capital markets; 
and to assess and issue regulations to mitigate systemic risk situations.  
4.252.   The Law on capital markets led to some significant changes in the functioning of the 
securities market ai med at strengthening the role of the CNV and modernizing provisions to allow 
the market to function more efficiently, and with better supervision. These included: (a) the 
elimination of market self -regulation, which for the CNV entailed the powers of autho rization, 
supervision, monitoring, disciplinary authority and regulation of all capital market participants; 
(b) the requirement for markets and agents to meet the requirements established by the CNV for 
the purpose of requesting its authorization to opera te and for its entry in the respective register; (c) 
the introduction of different categories of agents; (d) the exclusion of information communicated by 
the CNV to similar authorities abroad with which it has signed stock exchange secrecy reciprocity 
agreements; (e) the elimination of restrictions on the information exchanged between the CNV and 
the BCRA and the National Insurance Supervisory Authority and the Financial Intelligence Unit (UIF); 
(f) the obligation for all companies listed in Argentina to be  subject to a public tender offering (OPA) 
regime in the event of a change of control or acquisition of a significant shareholding; and (g) the 
establishment of jurisdiction in judicial proceedings of the National Chamber of Appeals for Federal 
Administrat ive Disputes in CABA and the Federal Chambers of Appeals for the provinces.  
4.253.   Law No.  27.440 on productive financing, Official Journal of 11  May 2018, amended the Law 
on capital markets, granting new powers to the CNV. In addition, the obligation was introdu ced to 
list shares on an authorized market and to establish rules on the maximum permissible holdings per 
shareholder and on the nominal value and the number of votes conferred by each share. Similarly, 
new functions were added to the rules governing marke ts and clearing houses. Amendments were 
introduced to the public tender offering regime in order to rectify conflict situations. The Law also 
updated the values set for fines imposed by the CNV. The new amounts range from ARS  100,000 to 
ARS 100 million, wh ich may be increased to up to five times the amount of the benefit obtained or 
the injury caused as a consequence of the unlawful action, whichever is greater.  
 
291 The legal framework of the securities market incl udes Law No. 26.831 on capital markets, Official 
Journal of 28 December 2012; Law No. 27.440 on productive financing, Official Journal of 11 May 2018; Law 
No. 22.169 - CNV corporate control of joint stock companies that make public offerings of their negot iable 
securities, Official Journal of 25 February 1980; Law No. 24.083 on mutual investment funds, Official Journal of 
18 June 1992; Law No. 23.576 on negotiable bonds, Official Journal of 27 July 1988; Law No. 24.587 on the 
registration of private securit ies, Official Journal of 22 November 1995; Law No. 20.643 on the regime for the 
purchase of private securities, Official Journal of 11 February 1974; Law No.25.246 on the concealment and 
laundering of assets of criminal origin, Official Journal of 10 May 2 000; Law No. 24.441 on trusts, Official 
Journal of 16 January 1995; Law No. 21.526 on financial establishments, Official Journal of 21 February 1977; 
Law No. 25.248 on leasing agreements, Official Journal of 14 June 2000; Law No. 19.550 - General Law on 
companies, text harmonized by the Annex to Decree No. 841/84, Official Journal of 30 March 1984; and Law 
26.994 - National Civil and Commercial Code, Official Journal of 8 October 2014.  
292 The CNV was created in 1968 by Law No. 17.811 on public offerings of s ecurities; currently the 
regulatory framework governing its operation is provided by Law No. 26.831 and the amendments introduced 
by Law 27.440 on productive financing.  
293 Information from the CNV. Viewed at: https://www.cnv.gov.ar/SitioWeb/Institucional . WT/TPR/S/412 • Argentina  
 
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 4.254.   Under Argentine law, any legal entity may create and issue negotiable securities to trade in 
markets of the types, and under the conditions, it chooses, provided that there is no confusion as to 
the type, denomination and conditions of negotiable securities specifically provided for in the laws 
in force. The primary placement of negotiable securities  can take place through two mechanisms: 
(a) book building or (b) auction or public bidding.294 Pursuant to Resolution No.  597/11, the primary 
placement of negotiable securities that are the subject of a public offering must be through an 
auction or open pub lic bidding conducted through a computer system set up by a self -regulated 
entity. The placement procedure must ensure full transparency and be defined and made public; the 
primary placement of marketable securities must be carried out through computer sys tems 
authorized by the CNV.  
4.255.   Exchanges must be incorporated as public limited companies under the public share offering 
regime and must list their shares on an authorized market. The CNV establishes, by regulation, the 
maximum permissible holdings per share holder and the nominal value and the number of votes 
conferred by each share. Exchanges may only allow the listing and/or trading of negotiable securities 
and other financial instruments whose public offering has been authorized by the CNV and those 
that m ust be carried out by court order. Exchanges and/or clearing houses must set up guarantee 
funds to cover unfulfilled commitments of their participants arising from collateralized transactions.  
4.256.   In order to act as agents, entities must be authorized and registered by the CNV, and must 
comply with the formalities and requirements that the CNV establishes by regulation for each 
category. There are no nationality or residence restrictions for shareholders. In practice, Argentina's 
capital mark et is still mainly concentrated in CABA, although the concentration is now in BYMA rather 
than the now defunct Merval. However, there are securities markets operating in other cities, 
although collectively they only represent 1 % of the volume traded on Merval. The volume of trading 
has remained limited, even compared to other countries in the region. As of 2019, with the creation 
of BYMA, there was a significant decline in capitalization (see below). At the end of May  2020, 89 
companies were participating in BYMA, compared to 98 in 2018 before the creation of BYMA.  
4.257.   BYMA is the head of a series of institutions operating in the capital markets, comprising 
trading, clearing, settlement and custody activities. Those companies are: (a)  Caja de Valores S.A. 
(CVSA)295; (b) the Argentine Capital Market Institute (IAMC), which provides technical advice to 
registered agents and disseminates the mechanics of the capital market as an investment and 
financing alternative296; and (c) Tecnología de  Valores (TECVAL), which provides solutions for the 
capital market as a whole. BYMA is empowered to undertake the organization, development and 
maintenance of markets for the trading of all types of marketable stocks, securities or contracts 
referenced or backed by spot securities or index futures, indicators, rates, commodities, foreign 
exchange, energy, transport, raw materials and other goods or rights directly or indirectly related 
thereto, in terms of cash or future settlement in physical form. BYMA al so has the power to authorize, 
suspend and cancel the listing and trading of negotiable securities. In addition, it can issue regulatory 
rules concerning agents and arranged transactions297, and act as a clearing house, settlement house 
and central counterp arty in the clearing and settlement of transactions. It may also set operational 
guarantees for market participants, establish means and/or systems for trading, clearing and 
settlement, and set up arbitration tribunals.298 However, unlike Merval, it is not self-regulating and 
has no sanctioning powers.  
4.258.   The Caja de Valores (CVSA), owned by BYMA, is the only entity authorized in Argentina to 
act as a central securities depository. The CVSA offers capital market participants complementary 
services to those that  BYMA offers as a stock exchange.299 In the first quarter of 2021, the CVSA 
 
294 CNV Standards N.T. 2013 and amendments. Viewed at: 
https://www.cnv.gov.ar/descargas/M arcoRegulatorio/blob/499EC64A -E522-49D2 -8F49-D9624B6DC49B . 
295 For further information, see: https://www.cajadevalores.com.ar/ . 
296 For further information, see: https://www.iamc.com.ar/IAMC/ . 
297 Natural and/or legal person authorized by the CNV to engage in activities of trading, placement, 
distribution, brokerage, settlement and clearing, custody and collective deposit of negotiable securities, 
administration and c ustody of collective investment products, risk rating, and all other activities which, at the 
discretion of the CNV, are required to be registered.  
298 BYMA (2018), Articles of Association. Text approved by the Ordinary and Extraordinary Assembly of 
5 April 2018 and registered with the Inspectorate -General of Justice on 22 August 2018. Viewed at: 
https://www.byma.com.ar/wp -conten t/uploads/2018/10/BYMA -Estatuto -Social -Aprobado -Asamblea -05-04-18-
IGJ-22-08-18.pdf . 
299 Information from Caja de Valores. Viewed at: https://www.cajadevalores.com.ar/Home/FAQ . WT/TPR/S/412 • Argentina  
 
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 had 503 participants (ALyCs, 60.04 %; banks, 21.27 %; ACDIs300, 7.95 %; mutual funds, 4.17 %; 
finance companies, 4.17 %; and others, 2.39 %). Its net worth was ARS  11,772  million as at 
31 March  2021.301 
4.259.   The Rosario -based Mercado Argentino de Valores S.A. (MAV) engages in the structuring of 
products and businesses linked to SMEs, to non -standardized products in general and to regional 
economies. It is the only entity of its kind in Argentina.  The MAV came into being in 2013 when, 
prompted by the Law on capital markets, Rosario Securities Market (Mervaros) merged with the 
Mendoza Stock Exchange, changing its name to Mercado Argentino de Valores S.A. (MAV). The MAV 
offers operations with instrum ents designed to boost the development of regional economies and 
SMEs, such as deferred payment cheques, promissory notes, invoices, SME shares, SME negotiable 
bonds, financial trusts, public securities, options and provincial and municipal financing.302 The MAV 
links SMEs with investors by designing tailor -made instruments and products, according to each 
region, so that they can finance themselves and increase their productive capital. In 2021, the MAV 
had 195 agents.303 The total volume of financing to SMEs  came to ARS  83,829  million in 2019, 97 % 
higher than the previous year. For the first half of 2020, financing to SMEs amounted to 
ARS 70 billion, mainly through the deferred payment cheque trading mechanism. In March  2020, 
trading in electronic cheques (EC HEQ) began, accumulating a total traded amount of 
ARS 16,265  million in the first half of the year.304 
4.260.   During most of the period under review, two futures market entities operated separately: 
MATBA S.A. and ROFEX S.A., which merged in 2019. The Mercado a Té rmino de Buenos Aires S.A. 
(MATBA) was an entity that registered and guaranteed futures and options transactions. Rosario 
Futures Exchange, or ROFEX S.A., until 2019 was the largest futures market in Argentina and traded 
futures and options contracts on so ybeans, wheat and corn, as well as financial derivatives. ROFEX 
S.A. registered, cleared, settled and guaranteed its contracts through a futures and options clearing 
house, Argentina Clearing S.A., the only futures and options clearing house in Argentina. In 
January  2017, ROFEX S.A, Argentina Clearing S.A. and MATBA entered into an agreement for the 
interconnection of their trading and clearing and settlement systems and later started to launch joint 
products. In December  2018, the MATBA -ROFEX merger was ap proved, and in February  2019 the 
definitive agreement for the integration of the two markets was signed, which took effect on 
1 August  2019, with MATBA as the absorbing company.  
4.261.   The level of financial derivatives trading on MATBA -ROFEX in 2020 was down 44 % from the 
record level of 2019: 116  million contracts were traded (209  million in 2019) for a total of 
USD 124.5  billion, down 46 % from 2019 (USD  229 million). US dollar futures and options accounted 
for 97 % of the total volume traded in financial contract s, with 113  million contracts, equivalent to 
USD 122 billion, down 46 % on the volume in 2019. Trading in peso equity index futures and options 
(RFX20 Index) amounted to 2.2  million contracts for a total of ARS  531 million. The volume traded 
in agricultural  futures and options on MATBA -ROFEX in 2020 reached 53.4  million tonnes, a level 
similar to 2019.305 Soybean futures and options accounted for 54 % of the total, followed by corn 
contracts (31 %) and wheat contracts (15 %). 
4.262.   In 2020, 50.6 % of trading on the sec urities markets was in public sector securities, while in 
2019 it was 72.4 %. Trade in shares accounted for less than 1 % of the total, the majority of the 
remaining amount (35.9 % of the total) corresponding to bonds and repos (Table 4.11) The average 
daily volume for the year was ARS  126,756  million (about USD  1.5 billion).  
 
300 An integrated placement and distribution agent (ACDI) is an entity authorized by the CNV to 
subscribe and redeem shares of mutual investment funds (FCIs) on behalf of its clients. The shares subscribed 
by each investor through the ACDI are registered with the  Caja de Valores.  
301 Information from Caja de Valores. Viewed at: 
https://www.cajadevalores.com.ar/InfoFinanciera/EstadosFinancieros ; and 
https://www.cajadevalores.com.ar/img/pdf/2021 -1-Cifras -CajadeValores.pdf . 
302 Information from the MAV. Viewed at: http://www.mav -sa.com.ar/ . 
303 MAV (2021), Informe  2020 (2020 Report). Viewed at: http://www.mav -
sa.com.ar/uploads/tx_sbdownloader/Informe_MAV_2020.pdf . 
304 MAV (2021). Viewed at: http://www.mav -
sa.com.ar/uploads/documentos/Nomina_Agentes_MAV21.pdf ; y http://www.mav -
sa.com.ar/uploads/tx_sbdownloader/Balance_A nual.pdf . 
305 Information from MATBA -ROFEX. Viewed at: https://matbarofex.com.ar/articulo/mercado -en-
numeros/financiero/2020 . WT/TPR/S/412 • Argentina  
 
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 Table 4.11 Market indicators 2015 -20 
Indicator  2015  2016  2017  2018  2019  2020  
Share indices        
S&P Merval annual variation (%)  116.57  44.90  77.72  15.66  55.85  22.93  
S&P BYMA General Index annual 
variation (%)  15.66  55.85  74.89  0.06 37.3 20.01  
IAMC Bond Index (IBIAMC)        
IAMC Bond Index annual variation 
(%) 53.24  33.02  24.81  57.00  40.63  67.7 
Short -term in ARS, annual var. (%) 30.51  28.57  22.14  37.82  31.99  117.5  
Short -term in USD, annual var. (%)  32.06  28.78  18.54  88.58  22.82  78.1 
Long-term in ARS, annual var. (%)  96.64  41.38  19.53  22.70  9.45 129.09  
Long-term in USD, annual var. (%)  39.58  34.37  29.25  57.51  60.05  35.11  
Market characteristics  
Average daily volume (traded on 
BYMA) (ARS  million)  3,098  5,405  10,401  17,056  43,676  126,756  
 Shares  197 282 498 878 887 1,088  
 CEDEARa 10 14 13 18 173 1,074  
 Government securities  2,160  4,231  8,493  13,841  31,618  64,130  
 Negotiable bonds  65 122 282 419 877 9,151  
Financial trusts  7 9 26 28 48 25 
 Bonds and repos  603 674 1.012  1,673  8,516  45,533  
 Futures     50 1,301  5,151  
 Loans  12 31 59 114 218 423 
 Options  12 14 19 35 44 88 
Total capitalization (ARS billion)  3,292  4,512  6,877  10,786  2,409  2,844  
National capitalization (ARS  billion)  729 1,011  2,061  1,804  2,358  2,815  
National capitalization / GDP (2) (%)  11.1 11.3 17.6 10.7 9.3 10.4 
Number of listed companies  101 101 104 98 91 89 
Financing to companies 
(USD  million)  9,663  12,478  15,704  6,347  3,541  4,928  
Large  8,802  11,584  13,709  5,548  3,449  4,847  
SMEs  860 895 1.121  799 92 81 
7-day ARS bond (NAR) (%)  28.53  24.80  24.43  42.74  43.03  34.08  
30-day ARS bond (NAR) (%)  28.57  25.21  28.64  44.22  42.48  35.88  
Call rate in ARS private banks up to 
15 days (eop) (%)  23.83  24.91  29.16  59.01  46.92  26.60  
BADLAR in ARS private banks (eop) 
(%) 27.25  19.88  23.25  49.50  39.44  34.25  
Monetary policy rate (eop) (%)  33.00  24.75  28.75  59.25  55.00  38.00  
ARS/USD exchange rates        
BNA Divisa [foreign exchange] 
(seller) (eop)  13.040  15.928  18.649  37.700  59.89  84.15  
a CEDEARs are certificates of deposit for shares of foreign companies or other securities that are not 
authorized for public offering in Argentina. They are held in custody at a credit institution and can be 
traded like any other share.  
Note:  eop = end of period  
Source:  IAMC. Market Indicators, December  2020. Viewed at: 
https://www.iamc.com.ar/indicadoresbursatiles/ . 
4.263.   Following the transformation of Merval into BYMA in 2019, several foreign companies 
withdrew from the market, with a consequent effect on its capitalization. In December  2018, 83 % 
of the total capi talization was represented by the market value of the six listed foreign companies; 
however, after the delisting of five of them, this now represents 2 % of the total.306 As at 
31 December  2020, the capitalization of domestic companies amounted to ARS  2,815  billion, or 
USD 33.5 billion. The three largest domestic companies by capitalization were Telecom Argentina, 
YPF and Grupo Financiero Galicia. Total capitalization was ARS  2,844  million in 2020. The 
capitalization of domestic companies at the end of 2020 r epresented 10.4 % of GDP. Total actual 
volume came to ARS  46,266  billion (ARS  126,756  million daily average), representing an annual 
increase of 193 %. Measured in USD, the volume totalled USD  550,786  million, an annual increase 
of 162 %. The Merval index ros e 22.9 % in 2020.  
4.264.   On the MAE, public and private fixed -income securities are traded in both spot and forward 
transactions.307 The public offering of private negotiable securities must be authorized by the CNV. 
 
306 BYMA (2020), Memoria Anual 2019 . Viewed at: https://www.byma.com.ar/wp -
content/u ploads/2020/02/BYMA -MEMORIA_2019.pdf . 
307 CNV Resolution No. 9.934/93 and Decree No. 677/01 and CNV General Resolution No. 746/18.  WT/TPR/S/412 • Argentina  
 
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 Transactions may be arranged in ARS or in USD. A ll transactions must be settled using one of the 
CNV-approved clearing or payment schemes.308 The volume of fixed income securities traded was 
USD 96.1 million in 2020, well below 2019, when it was USD  223,231  million, and 2018, when it 
totalled USD  853,452  million.309 Repo operations, on the other hand, increased substantially from 
USD 252,472  million in 2019 to USD  1,537,372.80  million in 2020.310 Agents on the open market 
(AMAs) must be registered with the CNV; at present all AMAs are legal persons, general ly banks, 
finance companies or exchange houses.  
4.4.2.4   Insurance and social security  
4.4.2.4.1   Main features  
4.265.   As at April  2021, 196 insurance entities were authorized in Argentina compared to 192 
entities as at 31  December  2020.311 Of these companies, 18 offered retirement insurance, 38 
exclusively life insurance, 12 exclusively insurance against occupational risks, five public passenger 
transport insurance, and the remaining 123 covered various property risks or engaged in mixed 
operations, covering both property and personal insurance. Most of these enterprises are private, 
with national or foreign capital, three are branches of foreign enterprises, and four are state -owned.  
4.266.   The period under review saw the gradual opening up of the  reinsurance market (see below), 
which led to a reduction in the number of local reinsurers from 28 in 2015 to 16 in April  2021. Only 
one insurance company is authorized to operate in active reinsurance. The reinsurance market is 
complemented by 113 admitt ed (foreign) reinsurers.312 Intermediation in the market is in the hands 
of insurance advisors (natural and legal persons) and reinsurance brokers, amounting to a total of 
43,824 agents as of April  2021, 43,799 of them in the insurance area, while 25 were r einsurance 
brokers. As of 30  June 2020, the insurers had 31,272 employees.313 
4.267.   The value of premiums net of cancellations in the insurance market continued to increase in 
nominal terms over the period under review, but declined in constant terms. Although in  current 
terms the value of premiums almost tripled between 2015 and 2019, in adjusted terms it shrank by 
15%. In December  2020, insurance premiums amounted to ARS  456,275  million, and reinsurance 
premiums, to ARS  18,032  million.314 In terms of premiums, property and casualty insurance 
premiums accounted for more than 80 % of the total; almost half of those premiums were for motor 
vehicles, followed by premiums for occupational risks, with 30 %. Group life insurance and 
creditor -debtor  life insurance accounted for 50 % of total personal insurance production.  
4.268.   In 2019, insurance activity accounted for 2.67 % of GDP for insurance and reinsurance 
combined (2.53 % for the insurance market); this share has been declining following a peak of 3.21 % 
of GDP in 2016. The per capita direct premium was ARS  10,075 (USD  160) as at 30  June 2019, 23 % 
lower in constant values than in 2015. For the 2019 financial year, productivity per employee, 
including for total insurance and reinsurance operations, was AR S 15 million (ARS  14.3 million for 
insurance), 17.5 % lower than the 2015 level.315 
4.269.   Assets of insurance companies exceeded ARS  1,558.1  million (about USD  17 billion) as at 
30 September  2020, while liabilities reached ARS  1,108.1  million (USD  12.3 billion). T he equity was 
ARS 450 billion (USD  5 billion). Investments continued to consolidate as the most important asset 
item with a share of over 71.4 % in September  2020 compared to the same month in 2019 (25.5 % 
 
308 These are: the national schemes Argentina Clearing S.A. and CRYL (Centre for registering and 
clearing public liabilities and financial trust funds under BCRA supervision) and the international schemes 
Euroclear, based in Brussels (Belgium), and Clearstream, based in Luxembourg.  
309 Information from MAE. Viewed at: https://servicios.mae.com.ar/estadisticas/volumenes_rfcv.aspx . 
310 Information from MAE. Viewed at: https://servicios.mae.com.ar/estadisticas/volumenes _rfrepo.aspx . 
311 Information provided by the authorities and National Insurance Supervisory Authority (SSN) (2020), 
Indicadores del mercado , December 2020. Viewed at:  
312 Information from the SSN. Viewed at: https://www.argentina.gob.ar/superintendencia -de-
seguros/mercado -asegurador/reaseguradoras/admitidas . 
313 SSN (2020), Evolución del Mercado Asegurador , 2009 -2019. Viewed at: 
https://www.argentina.gob.ar/sites/default/files/ssn_2019_evolucion_mercado_asegurador_anexo.pdf . 
314 SSN (2020 ), Situación del Mercado Asegurador , at 30 Septembe r 2020. Viewed at: 
https://www.argentina.gob.ar/sites/default/files/ssn_202009_sit_mercado_asegurador_anexo.pdf . 
315 SSN (2020), Evolución del Mercad o Asegurador , 2009 -2019. Viewed at: 
https://www.argentina.gob.ar/sites/default/files/ssn_2019_evolucion_mercado_asegurador_anexo.pdf . WT/TPR/S/412 • Argentina  
 
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 in real terms), totalling ARS  1,179.7  million).316 99.5% of investments were made in the country. 
During each year over the period 2015 -19, insurance companies as a whole posted positive earnings. 
In 2019, the balance was ARS  54.5 billion, resulting from financial gains of ARS  165 billion and 
technical losse s of ARS  95.5 billion.317 In 2020, it was ARS  44.1 billion.  
4.4.2.5   Legislative framework  
4.270.   The regulatory and supervisory authority for the sector is the National Insurance Supervisory 
Authority (SSN), a decentralized public agency operating under the Ministry of th e Treasury and 
Public Finance. The SSN's responsibilities include the control, supervision and inspection of the 
insurance market in accordance with the principles set out in Law No.  20.091 on insurance 
establishments; helping to define policies for the in surance market; controlling minimum capital, 
foreign companies, technical reserves, withdrawal of authorizations, liquidation and penalties; 
supervision of insurers, insurance intermediaries, experts and liquidators; and the development and 
implementation of programmes to improve the quality of the service, costs and the rapidity of 
procedures for policyholders. The SSN monitors the evaluation and inspection activities of market 
operators to protect policyholders and ensure compliance with current laws and regulations.318 
4.271.   Law No.  20.091 on insurance establishments and their supervision, Official Journal of 
7 February  1973, and its amendments contain the main provisions governing the insurance business 
in Argentina. This Law applies to insurers and reinsurers throughout Argentina. Other relevant laws 
are Law No.  17.418 of 6  September  1967 on insurance contracts, and Law No.  22.400 of 
18 February  1981 on registration of insurance consultants. The SSN's resolutions also constitute the 
regulatory framework for the  insurance market. SSN Resolution No.  38.708/2014, Official Journal of 
13 November  2014, and its amendments contain the General Insurance Business Regulations. In 
addition, Law No.  24.241 of 18  October  1993 established the integrated retirement and pension s 
scheme, creating provident retirement and life insurance. This Law was amended in 2008 by Law 
No. 26.425 of 9  December  2008, itself amended by Law No.  27.260, Official Journal of 22  July 2016. 
Law No.  24.557 of 4  October  1995 on occupational risks provid ed that every employer has to be 
insured through an occupational risk insurer (ART).  
4.272.   Prior authorization from the SSN must be obtained to operate as an insurer or reinsurer in 
Argentina or to make any changes to the memorandum or articles of association or  in the registered 
capital of an insurance company. Only the following may carry out insurance transactions in 
Argentina: (a) limited companies, cooperative associations and mutual insurance companies; 
(b) branches or agencies of foreign companies of the k ind mentioned in the preceding paragraph; 
and (c) national, provincial or municipal official or joint bodies and establishments. Insurance 
companies must have been established for the sole purpose of carrying out insurance transactions, 
and all the capital  required must have been paid up before they may be authorized by the SSN to 
operate. The authorization of new operators is also subject to the expediency of their role in the 
insurance market. In considering an authorization request, the SSN shall also as sess the general 
and particular market conditions and the background and responsibilities of the applicants, as well 
as their experience in the insurance business. Insurance companies are not allowed to operate in a 
branch of insurance without being expres sly authorized.  
4.273.   Branches of foreign companies must prove that their parent company is incorporated and 
registered in countries or jurisdictions considered "cooperative for tax transparency purposes", in 
accordance with the provisions of Decree No.  589/2013  and complementary regulations. If this is 
not the case, proof must be provided that the parent company is subject to the control and 
supervision of a body that performs similar functions to those of the SSN, and with which a 
memorandum of understanding fo r cooperation and exchange of information has been signed. In 
addition, the parent company must be incorporated and registered in countries or jurisdictions that 
cooperate in the global fight against money laundering and terrorist financing offences, accor ding to 
the criteria of the Financial Action Task Force (FATF).  
 
316 SSN (20 20), Situación del Mercado Asegurado r, as at 30 September 2020. Viewed at: 
https://www.argentina.gob.ar/sites/default/files/ssn_202009_sit_mercado_asegurador_anexo.pdf . 
317 SSN (2020), Evolución del Mercado Asegurador , 2009 -2019. Viewed at: 
https://www.argentina.gob.ar/sites/default/files/ssn_2019_evolucion_mercado_asegurador_anexo.pdf . 
318 Information from the SSN. Vi ewed at: https://www.argentina.gob.ar/superintendencia -de-
seguros/institucional . WT/TPR/S/412 • Argentina  
 
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 4.274.   Insurance companies must attest to a minimum capital that arises from the highest of three 
parameters: (a) capital to be credited by branch; (b) amount based on premiums and surcharges319; 
and (c) amount based on claims.320 As regards capital to be credited by branch, for example, a 
minimum capital of ARS  66,228,000 is required for motor vehicles (ARS  79,473,600, if motor cycles 
are included, or ARS  99,342,000 if civil liability and air navigatio n are also included).321 The 
requirement to operate in any of the personal insurance branches is ARS  19,868,400.322 
4.275.   Local reinsurers are required to hold a minimum amount of capital arising from the higher 
of the first two parameters, but the minimum capital  must not be less than ARS  350 million. In the 
case of the amount based on premiums and surcharges, this takes the net retained premiums for 
active reinsurance and retrocession, plus administrative surcharges, written in the 12 months prior 
to the end of t he statement in question, which cannot be less than 40 % of total premiums written 
(net of cancellations). A percentage of 16 % is applied to the amount determined. Insurers may 
engage in active reinsurance transactions up to 10 % of the total direct insuranc e premiums, 
calculated at the close of each financial year.  
4.276.   The reopening of the reinsurance market was enabled by the lapsing of SSN Resolution 
No. 35.615/11, which had stipulated that reinsurers had to be domestic companies from 1  July 2011 
onward and th at foreign companies had to act as retrocessionaires. At present local reinsurers and 
authorized reinsurers operate in the sector. Local reinsurance companies may be: (a) Argentine 
limited companies, cooperative associations and mutual funds whose sole pur pose is to provide 
reinsurance; and (b) branches established in Argentina of foreign reinsurance entities.  
4.277.   The law also allows for admitted reinsurers, which are foreign reinsurance entities licensed 
for that purpose in their country of origin that have be en authorized to accept retrocession and 
reinsurance operations in Argentina. In order to receive that authorization, they must prove that 
they are legally constituted and authorized to reinsure risks ceded from abroad, indicating the date 
of commencement of operations; prove that the legislation in force in the country of origin allows 
them to meet their commitments abroad, in freely convertible currency; and prove with a report 
from an external auditor or from the supervisory authority of the country of o rigin that they have a 
net worth of not less than USD  100 million.323 They must also attest to a minimum rating in the last 
three years from an international rating agency. In addition, they must demonstrate that they are 
incorporated and registered in juri sdictions considered to "cooperative for the purposes of fiscal 
transparency", in accordance with the provisions of Decree No.  589/2013, as well as cooperating in 
the global fight against money laundering and terrorist financing crimes, according to FATF 
criteria.324 
4.278.   Insurance against risks that might arise in Argentine territory can only be taken out through 
companies established in the country. Law No.  12.988, Official Journal of 11  July 1947, prohibits the 
 
319 If the amount is determined on the basis of premiums and surcharges, premiums for dire ct 
insurance, active reinsurance and retrocession, plus administrative surcharges, written in the 12 months prior 
to the end of the statement in question are taken. A percentage of 16 % is applied to the amount determined. 
The amount obtained is multiplied by the percentage resulting from comparing the claims and settlement 
expenses of the previous 36 months with the gross amount of those claims. That percentage may not be less 
than 30 % in the fire and aviation branches; 50 % in the agricultural and forestry risks, civil liability, bond, 
credit, hull transport, goods transport, technical, theft and similar risks branches; and 85 % for the combined 
family and comprehensive, motor and public passenger transport branches.  
320 In the case of the claims -based amount, the net paid and outstanding claims for direct insurance, 
active reinsurance and retrocession for the 36 months prior to the end of the relevant period are added 
together. The resulting figure is divided by three and a percentage of 23 % is applied to the r esult. The amount 
thus obtained is multiplied by the percentage resulting from comparing the claims and settlement expenses 
paid for the previous 36 months with the gross amount of those claims.  
321 SSN Resolution No. 408/2019, Official Journal of 9 May 2019 . Life insurers whose schemes provide 
for the establishment of mathematical reserves must hold minimum capital as the higher of the parameter of 
the amount based on premiums and surcharges and a parameter calculated by taking 4 % of total direct 
insurance a nd accepted reinsurance mathematical reserves and multiplying it by the ratio of self -preservation 
mathematical reserves to total reserves, which may not be less than 85 %, and adding it to 0.3 % of capital at 
risk multiplied by the ratio of self -preservatio n capital at risk to total capital at risk, which may not be less than 
50%. 
322 SSN Resolution No. 1.080/2019, Official Journal of 2 December 2019, amended the original amounts 
contained in Resolution No. 39.957/2016, Official Journal of 2 August 2016.  
323 SSN Resolution No. 408/2019, Official Journal of 9 May 2019. Information from the SSN. Viewed at: 
https://www.argentina.gob.ar/superintendencia -de-segur os/mercado -asegurador/reaseguradoras . 
324 SSN Resolution No. 576/2018, Official Journal of 15 June 2018.  WT/TPR/S/412 • Argentina  
 
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 insuring abroad of persons, goods or any insurable interest within the national jurisdiction. Premiums 
and commissions are freely determined by insurers, although the SSN is authorized to establish 
minima and maxima for commissions. Where premiums are concerned, the SSN may approve 
uniform minimu m premiums net of commission, in the form of a resolution, if the stability of the 
market is affected and at the request of any of the insurers' associations, after hearing the other 
associations. General insurance premiums are authorized by the insurance company's managing 
body and personal insurance premiums require prior authorization by the SSN. Insurance premiums 
are subject to a tax at a rate that varies depending on whether the company is established in 
Argentina or abroad, being higher in the latter  case. For companies established in Argentina, the 
rate has been 0.1 % in general since 2002, in accordance with Decree No.  687/98. The rate is 2.5 % 
for occupational accidents and 23 % for insurers established outside Argentina.325 
4.279.   Law No.  26.425 on the unification of the public social security scheme, Official Journal of 
9 December  2008, unified the integrated retirement and pensions scheme into a single public social 
security scheme, the Argentine integrated social security scheme (SIPA). The Law instit uted a 
pay-as-you-go scheme in place of the funded scheme that previously existed. Pursuant to Law 
No. 26.425, the totality of the resources may only be used to pay out SIPA benefits. The Law 
prohibits investment of  SIPA funds abroad. Law No.  26.425 provid ed that the retirement and pension 
fund managers (AFJP) should be liquidated and compensated with government securities in an 
amount that could not exceed the maximum value of their equity. The Law also provided that 
contributors to the SIPA have the right  to receive a permanent additional benefit that is determined 
by calculating 1.5 % for each year of service with contributions made to the SIPA.  
4.4.3   Telecommunications  
4.280.   In 2020, Argentina had 54.8 million mobile telephone users, with a penetration rate of 
120.2% . This rate, while lower than that in 2013, could indicate growing market competition and 
decreased use of prepaid cards. The number of fixed telephony subscribers continued to drop 
between 2013 and 2020 (Table 4.12). While Internet use expanded between 20 13 and 2020, 
according to the Argentine Chamber of the Internet (CABASE) the level of Internet access varies 
significantly among the provinces because of geographical factors.326  
Table 4.12 Indicators for the telecommunications sector, 2013 -20  
 2013  2014  2015  2016  2017  2018  2019  2020  
Mobile telephony          
Number of users (millions)  67.4 60.6 61.8 63.7 61.9 58.6 56.4 54.8 
Penetration rate (per 100 
inhabitants)  158.9  141.3  142.7  145.6  139.9  131.2  124.9  120.2  
Fixed telephony          
Number of users (millions)  9.6 9.7 10.0 10.2 9.8 9.8 7.7 7.4 
Penetration rate (per 100 
inhabitants)  22.7 22.6 23.0 23.3 22.1 21.9 17.2 16.2 
Penetration rate (per 100 
households)  74.7 74.2 75.2 75.8 71.7 71.1 55.4 51.9 
Fixed Internet          
Number of users (millions)  6.2 6.6 7.0 7.3 7.9 8.5 8.8 9.6 
Penetration rate (per 100 
inhabitants)  14.7 15.4 16.1 16.6 17.8 19.0 19.5 21.0 
Penetration rate (per 100 
households)  48.3 50.5 52.6 53.9 57.8 61.4 62.9 67.6 
Income (millions of ARS)  .. .. .. 155,551  203,738  261,941  378,799  509,945  
Fixed telephony  .. .. .. 18,834  25,529  35,273  60,146  73,629  
Mobile telephony  .. .. .. 109,849  138,537  167,128  231,880  308,730  
Fixed Internet  .. .. .. 26,868  39,672  59,540  86,773  127,586  
Investment (millions of ARS)  .. .. .. 26,692  38,620  53,099  .. .. 
Fixed telephony  .. .. .. 9,404  22,370  28,847  .. .. 
Mobile telephony  .. .. .. 17,288  16,250  24,252  .. .. 
.. Not available.  
Note:  The drop in the number of mobile telephone users in 2014 is due to a change in methodology.  
Source:  ENACOM. Viewed at: https://indicadores.enacom.gob.ar/Informes ; and information provided by the 
authorities.  
 
325 Decree No. 2.682/1979, Official Journal of 30 October 1979.  
326 CABASE (2019), CABASE Internet Index: Estado de Internet en Argentina y la Región, Segundo 
Semestre . Viewed at: https://www.cabase.org.ar/wp -content/uploads/2019/12/CABASE -Internet -Index -II-
Semestre -2019.pdf ; and CABASE. Viewed  at: https://www.cabase.org.ar/el -70-de-los-hogares -con-internet -
contrata -el-servicio -de-banda -ancha -en-combo -con-tv-paga-yo-telefonia/ .  WT/TPR/S/412 • Argentina  
 
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 4.281.   In 2014, information and communications technologies (ICT) were declared to be "of public 
interest" in Argentina, highlighting the contribution that such technology makes to socioeconomic 
development and the need to guarantee access to ICT at a fair price.327 To thi s end, various plans 
for infrastructure development and digital inclusion have been implemented, namely the Federal 
Internet Plan (fibre optic) in 2016,328 the National Broadband Plan (fibre optic) and the National 
Digital Inclusion Plan in 2017; the Nation al Telecommunications and Connectivity Plan (4G network) 
in 2018; and the Connect Plan in 2020. Furthermore, in order to narrow the digital divide, in 2017 
the 35% tariff on imported computers, mobile devices and spare parts was abolished.329 
4.282.   In addition, i n 2018 the Argentine Digital Agenda 2030  was adopted, which proposes various 
strategies for the digital transformation of the country, including: (a) updating ICT regulations, in 
particular with regard to data protection; (b) expanding broadband coverage a nd capacity and 
increasing data transfer  speeds; (c) advancing digital literacy; (d) digitizing processes; and (e) 
promoting the digital economy. With regard to the digital economy, efforts are being made to 
incorporate digital technologies into companies'  productive and management processes, especially 
those of SMEs (Box 4.3), and to create a digital environment for companies through e -commerce 
(Box 4.4) and the use of digital financial services.330 
Box 4.3 Adopt ion of digital technologies in SMEs  
In 2017, the Institute for Business Development in Argentina conducted a survey of 172 SMEs regarding the 
use of digital technologies in the business environment. Four in 10 SMEs indicated that they had no plans to 
invest in digital tools, owing to their limited access to funding sources, the shortage of trained human capital 
and the lack of awareness of digital tools and their benefits.  
To help MSMEs identify their digital transformation needs, the National Institu te of Industrial Technology 
launched the SME Digital Transformation Programme 4.0 in 2018, and the Ministry of Productive Development 
created a public -private digital support network in 2020.  
The Ministry also provides funding to support MSMEs' digital tr ansformation projects. Projects qualify for 
funding if they improve productivity and the efficiency and quality of productive processes. The projects 
selected receive non -repayable grants of up to 70% of the investment cost or ARS 600,000.  
Source:  Institute for Business Development in Argentina (2017), Competitividad Pyme: una oportunidad para 
el desarrollo . Viewed at: https://www.idea.org.ar/wp -
content/uploads/2017/09/FINALIDEA_estudio_CompetitividadPyME.pdf ; SME Digital Transformation 
Programme 4.0. Viewed at: https://www.inti.gob.ar/noticias/15 -desarrollo -e-innovacion/1534 -
transformacion -digital -40; Ministry of Productive Development . Viewed at: 
https://www.argentina.gob.ar/produccion/medidas -desarrollo -industrial/transformacion -digital . 
 
327 Articles 1 and 2 of Law No. 27.078.  
328 In the framework of this plan, operators must provide Internet services for free in public 
establishments (such as educational institutions) in communities with fewer than 10,000 inhabita nts. Office of 
the Chief of Cabinet, news article dated 21 September 2017. Viewed at: 
https://www.argentina.gob.ar/noticias/mas -de-300-localidades -conectadas -al-plan-federal -de-internet . 
329 Decree No.  117/2017.  
330 Decree No. 996/2018 and Resolution No. 138/2018 of the Secretariat of Modernization.  WT/TPR/S/412 • Argentina  
 
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 Box 4.4 E-commerce in Argentina  
According to data published by the Argentine Chamber of E -Commerce (CACE), the value of online, business -
to-consumer (B2C) and consumer -to-consumer (C2C) commercial transactions has increased since 2013:  
(in millions of ARS)  
 2013  2014  2015  2016  2017  2018  2019  
B2C 23,000  36,310  61,860  93,760  145,000  213,034  373,840  
C2C 1,800  3,800  6,381  8,945  11,300  16,726  29,438  
Total  24,800  40,110  68,241  102,705  156,300  229,760  403,278  
Business to business (B2B)  250,000  .. .. .. .. .. .. 
Total  274,800  .. .. .. .. .. .. 
.. Not available.  
Various "e -commerce markets" operate in Argentina, such as MercadoLibre , an Argentine company that also 
operates in other markets in the region.  
Starting in 2019 and for a period of five years, the purchase of digital services using a foreign currency is 
subject to the PAIS tax (at a rate of 8%). Certain digital service purchases (such as e -books) are exempt from 
this tax.  
Source:  Statistics prov ided by CACE. Viewed at: https://www.cace.org.ar/estadisticas ; CACE,  news article 
dated 27 August 2020. Viewed at: https://www.cace.org.ar/noticias -boom -del-ecommerce -en-el-
primer -semestre -del-ano-se-facturaron -mas-de-1728-millones -de-pesos -por-dia; and UNCTAD 
(2019), Digital Economy Report 2019 . Viewed at: https://unctad.org/system/files/official -
document/der2019_en.pdf . 
4.283.   Telecommunications services are regulated by the Digital Argentina Law (Law No. 27.078), 
promulgated in 2014, and by the National Telecommunications Law of 1972 ( Law No. 19.798).331 
The Digital Argentina Law introduced the concept of the convergence of services, whereby 
telecommunications service providers can also offer audiovisual services (with the exception of 
satellite services).332 Moreover, the Law recognized net neutrality.333 During the review period, new 
regulations were adopted on universal service, single licences and interconnection, in addition to the 
operations of mobile virtual network operators (MVNO)334 and the procedures for the shared use of 
passive infrastructure (Bo x 4.13).  
Table 4.13 A selection of telecommunications sector regulations  
Topic  Regulation  
Radio spectrum  Regulations on the Administration, Management and Control of the Radio Spectrum 
(Annex IV of Decree No. 764/2000)  
Universal service  General Regulations on Universal Service (Resolution No. 721/2020 of ENACOM)a, b 
Single licensing 
system  Regulations on Licences for Information and Communications Technology Services 
(Ministry of Modernization Resolution No. 697/2017)a 
Interconnection  General Regulations on Interconnection and Access (Ministry of Modernization Reso lution 
No. 286/2018)a 
Passive 
infrastructure  Regulations on Passive Infrastructure Sharing (Secretariat of Public Innovation 
Resolution No. 105/2020)  
MVNOs  Regulations on Mobile Virtual Network Operators (Ministry of Communications Resolution 
No. 38/2016 )c 
a The regulations of 2000 (Decree No. 764/2000) were repealed.  
b Replaced the regulations approved by ENACOM Resolution No. 2.642/2016.  
c The regulations of 2014 (Decree No. 68/2014) were repealed.  
Source:  Information provided by the authorities.  
 
331 All provisions of the National Telecommunications Law that do not contradict the Digital Argenti na 
Law remain in effect (Article 89 of Law No.  27.078). In addition, the Digital Argentina Law regulates the 
provision of paid radio broadcasting services, with the exception of those broadcast by satellite, which are 
regulated by the Law on Audiovisual Co mmunications Services (Article 10 of Law No. 27.078).  
332 Articles 10 and 94 of Law No. 27.078; Latin American Observatory on Regulation, Media and 
Convergence. Viewed at: https://www.observacom.org/decreto -de-la-convergencia -desregula -el-sector -de-las-
comunicaciones -en-argentina/ ; and information provided by the authorities.  
333 Article 1 of Law No.  27.078. Net neutrality is the principle that access to digital content should not be 
impeded by, for example, changing the speed of traffic or applying different tariffs according to the type of 
content.  
334 In 2020, the market share o f MVNOs was incipient.  WT/TPR/S/412 • Argentina  
 
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 4.284.   Between 2013 and 2021, various institutions were tasked with formulating and implementing 
telecommunications policy in Argentina: the Ministry of Federal Planning, Public Investment and 
Services (2013 -15); the Ministry of Communications (2015 -17); the Ministry of Modernization 
(2017 -18); the Secretariat of Modernization (2018 -19); and the Under -Secretariat of Information 
and Communications Technologies of the Secretariat of Public Innovation (from 2019 to the present). 
Furthermore, in 2015, the  new regulator for the telecommunications sector, the National Entity for 
Communications (ENACOM), was established, under the Office of the Chief of Cabinet.335 ENACOM 
replaced the Federal Information and Communications Technologies Authority (AFTIC) and took over 
its functions. AFTIC had itself replaced the National Communications Commission in 2014.336 
4.285.   Foreign operators can provide services on the condition that  they have an established office 
in Argentina. Since 2003, for companies that provide Internet -based services, the share of foreign 
equity and voting rights cannot be higher than 30%. This limit can be increased where a reciprocal 
agreement has been reache d with the investor's country of origin.337 According to the authorities, 
there are no instances where the share exceeded 30%. ENACOM must approve any proposed 
changes to shareholdings or partnership interests in companies in this sector if such changes wou ld 
affect the control of the company.338 
4.286.   Argentina continues to have a single licensing system, regulated by ENACOM, for the 
provision of all types of telecommunications services, with or without their own infrastructure. When 
applying for a licence, nation al and foreign operators are subject to the same requirements. The 
single licence does not expire unless the operator requests its cancellation or ceases to fulfil its 
obligations as a service provider. In addition to obtaining an operating licence, the se rvice provider 
must register each service with ENACOM.339 
4.287.   Radio spectrum frequency bands are sold at auction. In general, all operators can participate 
in the auctions; however, the bid specifications may stipulate that certain bands are reserved for 
new pa rticipants. A "temporary" permit to use a given frequency is granted for the period defined 
by ENACOM in the bid specifications.340 In the auctions conducted in 2014 and 2017, the validity 
period of the "temporary" permits granted was set at 15 years.341 The Empresa Argentina de 
Soluciones Satelitales  (ARSAT) does not participate in these auctions, as ENACOM allocates 
frequency bands to ARSAT directly. In 2019, it was decided that the frequencies not used by ARSAT 
would be put up for auction;342 the auctions h ave not yet been held, however. Since 2013, various 
measures have been taken to optimize the use of frequency bands. For example, since 2017, 
operators have been able to reassign frequency bands to allow new services to be offered or new 
technologies to be  used. They have also been able to share the use of certain frequency bands.343 
The limit on the frequency bands that a single operator can hold in an area of service has also been 
expanded (from 60 MHz to 140 MHz).344 An annual fee – calculated using a form ula – must be paid 
in order to use frequency bands.  
4.288.   In 2018, new General Regulations on Interconnection and Access were adopted, which 
replaced the National Interconnection Regulations of 2000. The new Regulations provide for the 
 
335 Necessity and Urgency Decree (DNU)  No. 267/2015; and ENACOM . Viewed at: 
https://www.enacom.gob.ar/que -es-enacom_p33 .  
336 ENACOM also replaced the Federal Audiovisual Commun ications Services Authority (AFSCA), 
established in 2009.  
337 Articles 2 and 3 of Law No. 25.750.  
338 Article 13 of Law No.  27.078, as amended by DNU No. 267/2015; Article 14 of the Regulations on 
Licences for Information and Communications Technology Service s; and the General Companies Law (Law 
No. 19.550/1984).  
339 Articles 8 and 9 of Law No. 27.078; Regulations on Licences for Information and Communications 
Technology Services; Regulations on the Registration of Information and Communications Technology Services, 
Added Value Services and Internet Access; Ministry o f Communications Resolution No. 38/2016; and ENACOM. 
Viewed at: https://www.enacom.gob.ar/licencias -y-registro -de-servicios_p862 .  
340 Articles 26 -32 of Law No. 27.078; and info rmation provided by the authorities.  
341 5G América (2019), Temas de regulación de las telecomunicaciones: Argentina . Viewed at: 
https://brechacero.com/white -papers/ . 
342 Article 11 of the Law on the Develo pment of the Satellite Industry (Law No. 27.208), as amended by 
DNU No. 58/2019.  
343 Ministry of Communications Resolution No. E -171/2017; Ministry of Modernization Resolution 
No. 581/2018; and ENACOM. Viewed at: https://www.enacom.gob.ar/bandas -de-uso-compartido -sin-
autorizacion_p680 . 
344 Ministry of Communications Resolution No. E -171/2017.  WT/TPR/S/412 • Argentina  
 
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 introduction of new interc onnection modalities. According to the Regulations, operators can 
negotiate certain interconnection charges, while other local network charges (origin and termination 
rates) are subject to the reference charges set by ENACOM.345 Since 2018, termination rate s for 
certain telephony cooperatives have been eliminated.346 
4.289.   Since 2019, operators must provide automatic national mobile roaming along road corridors 
and in communities with between 500 and 10,000 inhabitants.347 
4.290.   Competition in the sector is regulated by t he Law on the Defence of Competition (Law 
No. 27.442/2018) and the Digital Argentina Law . The National Competition Authority and ENACOM 
are responsible for enforcing the relevant provisions. The National Competition Authority also 
consults with ENACOM wit h regard to economic concentrations, but it is not bound by any opinions 
issued by ENACOM.348 
4.291.   The Digital Argentina Law authorizes ENACOM to identify operators with significant market 
power and regulate their operations, including interconnection, by imposi ng specific obligations 
and/or conditions.349 Until 2014, only one criterion was taken into account when identifying such 
operators: their share of total revenue of the reference market must be more than 25%.350 In 2014, 
this criterion was replaced by four n ew criteria: (i) market share; (ii) ownership of essential facilities 
(consumables, installations or services); (iii) ability to influence prices; and (iv) viability of 
competitors.351 Based on these criteria, in 2017, Telecom  was declared an operator with significant 
power in the retail fixed Internet market in 37 communities. As such, for an initial (extendable) 
period of two years, operating conditions were imposed on Telecom , such as price regulations and 
the obligation to grant all other operators acces s to its physical infrastructure.352 
4.292.   Telecommunications services are provided by private operators and telephony cooperatives 
(Chart 4.1). The biggest change in the market was the 2017 merger of Telecom Argentina and 
Cablevisión  to create a new operator, known as Telecom . This merger was appr oved and a number 
of operating conditions were imposed.353 Notwithstanding this merger, five operators continue to 
provide services in the fixed telephony market. In 2013, there were only two main operators, 
Telefónica  and Telecom Argentina , which had a com bined market share of almost 90%. Although 
these two operators remain significant, they have lost some market share, while that of Telecentro  
has increased substantially. The mobile telephony market remains highly concentrated, even more 
so following the m erger that created Telecom  in 2017, which reduced the number of operators. 
Furthermore, as a result of that merger, Telecom  accounts for 43% of the Internet services market. 
The state -owned ARSAT operates the federal fibre optic (backbone) network (ReFeFo)  and provides 
retail fibre optic and satellite communication services.  
 
345 Articles 24 and 25 of the General Regulations on Interconnection and Access.  
346 Article 7 of Ministry of Modernization Resolution No. 286/2018; and information provided by the 
authorities.  
347 Secretariat of Modernization Resolution No. 865/2019.  
348 Article 17 of Law No.  27.442.  
349 Articles 47 and 81 (p) of Law No.  27.078.  
350 National Int erconnection Regulations approved by Decree No.  764/2000.  
351 Article 7 of Law No.  27.078.  
352 ENACOM Resolution No. 5644/2017; and ConverCom. Viewed at: 
http://convercom.org/2018/12/03/la -competencia -en-comunicaciones -la-cuarta -fusion -cablevision -telecom -
argentina/ .  
353 ENACOM Resolution No. 5644/2017; and ConverCom. Viewed at: 
http://convercom.org/2018/12/03/la -competencia -en-comunicaciones -la-cuarta -fusion -cablevision -telecom -
argentina/ ; and information provided by the authorities.  WT/TPR/S/412 • Argentina  
 
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 Chart 4.1 Structure of the telecommunications market, 2013 and 2020  
 
Note:  TelCoop = telephony cooperatives.  
Source:  Information provided by the authorities.  
4.293.   Since 2020, ENACOM has regulated the price of essential and strategic public services, 
namely basic fixed and mobile telephony services.354 In response to the COVID -19 pandemic, all 
telephone charges were frozen for six months from 1 July 2020.355. Retail telephony charges are 
subject to VAT at 21%. Mobile service prices are also subject to an internal tax, at a rate of 5% 
(increased from 4% in 2017).356 In 2017, the 1% tax on postpaid mobile services, which was 
collect ed to fund the National Authority for High Sporting Performance, was abolished.357 
4.294.   Number portability – which has been possible for mobile telephone numbers since 2012 – 
was authorized for landline telephone numbers in 2018, although it has yet to be implem ented.358 
4.295.   All operators pay a contribution 1% of their revenue to the Universal Service Trust Fund 
(FFSU), administered by ENACOM.359 In 2020, the FFSU provided up to 80% of the funding for 
 
354 Articles 48 and 54 of Law No.  27.078, as amended by DNU No.  690/2020.  
355 DNU No.  690/2020.  
356 Law on Excise Duties (Law No.  24.674).  
357 Article 39 of the Law on the Creation of the National Authority for High Sporting Performance (Law 
No. 26.573), as amended by the Income Tax Law (Law No. 27.430).  
358 Ministry of Modernization Resolution No.  203/2018.  
359 Article 22 of Law No.  27.078.  
Telecom 
Argentina
29.7%
Telefónica 
37.1%AMX 
30.3%Nextel 3.0%
Mobile telephony
2013Telecom 
34.0%
Telefónica 
26.3%AMX 
39.7%Mobile telephony
2020
Telecom 
Argentina  
42.1%
Telefónica 
47.0%Fixed telephony
2013Telecom 
36.9%
Telefónica
35.8%Telecentro 
18.0%Fixed telephone
2020
Telefónica
28.7%
Telecom 
Argentina
26.8%Cablevisión
27.6%Internet
2013Telecom
43.0%
Telecentro 
14.2%Telefónica
12.3%TelCoop 
7.1%AMX 
5.0%Others 
18.4%
Internet
2020WT/TPR/S/412 • Argentina  
 
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 broadband projects.360 In 2018 and 2019, FFSU resources were also use d to subsidize the interest 
paid on loans from the BNA and the BICE to finance network enlargement projects.361 The authorities 
have indicated that only the BNA provided loans at subsidized rates: the loans were for a maximum 
of ARS 20 million for a period of seven years, and a 10 percentage point reduction was applied to 
the interest rate, bringing it down to 2%.  
4.4.4   Transport  
4.296.   The Ministry of Transport, which replaced the Secretariat of Transport in 2015, drafts and 
implements the sector policy.362 The National Transport and Infrastructure Plan (PNTI) 2016 -19 sets 
out that policy and establishes a number of objectives, such as the creation of an integrated, 
multimodal network to reduce costs and improve access to centres of production, with a view to 
enhancing pr oductivity and competitiveness.363 Within the framework of the Plan, around 
USD 33 billion of public -private investment364 was used to build and modernize roads, rehabilitate 
railway lines and improve access to ports. Various projects are currently (as of 2021) under way to 
improve transport infrastructure. These include the National Railway Plan 2016 -23 to rehabilitate 
the train network and support multimodal transport; and the Belgrano Plan, drawn up in 2015, which 
is being implemented across 10 northern provinces365 and includes among other projects, building 
a port in Corrientes province and developing airport infrastructure.366 
4.297.   Argentina has an extensive road network of around 500,000 kilometres. National highways 
– which account for 40,000 kilometres of the network – are operated by the state -owned company 
Corredores Viales , established in 2017, and by concessionaires.367 They co llect tolls and receive state 
subsidies and/or transfers, amounting to ARS 5.8 billion in 2019 and ARS 18 billion between 2016 
and 2019. In 2020, Corredores Viales  took over the operation of a number of routes and cancelled 
the concessions.368 Road transpor t is the most common method of transporting cargo between urban 
areas and for export.369 Nonetheless, despite the investment made in improving the road network, 
this mode of transport is still not competitive, owing to the financial and time costs of travel .370 
According to the Argentine Chamber of Trade and Services (CAC), in 2017 the average cost of 
transporting grain by road was more than double that of transporting it by rail.371 This is due to the 
fact that, since 2012, national rates for the transport of  cereals and oilseeds by road have been 
pegged to reference rates.372 
4.298.   Rail transport is use for various types of cargo, in particular agricultural products over short 
and medium distances. According to the CAC, the network reaches full capacity during the h arvest 
season and is barely used throughout the rest of the year, as it is difficult to transport packaged 
 
360 ENAC OM. Viewed at: https://www.enacom.gob.ar/su . 
361 Summary Resolutions Nos.  1.898/2019, 2.144/2018 and 138/2018 of ENACOM.  
362 DNU No. 13/2015.  
363 ICEX (2018), El mercado de las infraestructuras de transporte en Argentina  2018. Viewed at: 
https://www.camarabilbao.com/ccb/contenidos.downloadatt.action?id=5472550 .  
364 García N. (2019), La planificación del transporte por agua en  Argentina: Límites y desafíos para los 
próximos años , Instituto del Transporte, Universidad Nacional de San Martín. Viewed at: 
http://www.unsam.edu.ar/institutos/transpo rte/publicaciones/doc13.pdf . 
365 Catamarca, Chaco, Corrientes, Formosa, Jujuy, La Rioja, Misiones, Salta, Santiago del Estero and 
Tucumán.  
366 Ministry of Transport, news article dated 6 April 2018. Viewed at: 
https://www.argentina.gob.ar/noticias/avanzan -las-obras -de-transporte -del-plan-belgrano -2.  
367 Decree No. 794/2017; and National Road Authority. Viewed at: https://www.argentina.gob.ar/obras -
publicas/vialidad -nacional/corredoresviales . 
368 Casa Rosada, news article dated 4 February 2020. Viewed at: 
https://www.casarosada.gob.ar/informacion/actividad -oficial/9 -noticias/46703 -el-estado -nacional -asume -la-
gestion -de-cinco-corredores -viales . 
369 Inter-American Development Bank (2020), El transporte automotor de cargas en América Latina . 
Viewed at: http://www.aacarreteras.org.ar/pdfs/estudios -y-
presentaciones/El_transporte_automotor_de_%20cargas_en_América_Latina.pdf . 
370 National Road Authority, PowerPoint presentation. Viewed at: https://ppp.vialidad.gob.ar/wp -
content/uploads/2017/11/PROYECTO -8.pdf.  
371 CAC (2017), Costo argentino . Viewed at: https://www.cac.com.ar/data/documentos/11_CAC%20 -
%20Informe%20Costo%20Argentino%20 -%20Agosto%202017.pdf . 
372 Reference rates are regularly set by the Ministry of Transport and the Ministry of Agriculture, 
Livestock and Fisheries, as well a s carriers' and farmers' associations, in line with Secretariat of Transport 
Management Resolution No. 8/2016 .  WT/TPR/S/412 • Argentina  
 
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 goods using the current rolling stock.373 In 2015, rail transport was declared a sector "of public 
interest". A policy was subsequently introduced to revitalize and improve rail services and 
infrastructure with the aim of creating a modern and efficient transport system. In 2015, the 
state-owned company, Ferrocarriles Argentinos Sociedad del Estado  (FASE), was set up to 
coordinate projects to improve ra il services and the network.374 Rail transport is currently operated 
by a number of concessionaires and three state -owned enterprises: Trenes Argentinos Cargas , 
Trenes Argentinos Operaciones  and Trenes Argentinos Infraestructura . The State has a minority 
holding in three of the concessionaires that operate freight services.375 
4.299.   The waterways network comprises the River Plate, the Paraná, Uruguay and Paraguay rivers. 
The Paraná and Paraguay river corridor forms the Paraguay -Paraná Waterway.376 The operation and 
maintenance of the Waterway within Argentine territory are carried out under concession.377 
Operating and maintenance costs are covered by a toll (currently USD 3.06).378 In response to the 
COVID -19 crisis, however, the toll was reduced by 50% in 2020. That same year, 82% of all grain, 
oil and flour exports were transported via the Waterway, in addition to 93% of containerized cargo 
in Argentina.379 Currently, deep -draught vessels can sail along only part of the Waterway.380 
4.300.   As of 2019, for a period of five fis cal years, the purchase of international transport tickets 
using foreign currency is subject to the PAIS tax (at a rate of 30%). The purchase of certain types 
of ticket, such as for overland transport to border destinations, is exempt from the tax.381 
International transport rates are also taxed at 7% (increased from 5% in 2016) to fund campaigns 
to promote domestic tourism.382 
4.301.   In the wake of the health crisis in 2020, businesses and workers in the transport sector 
received support through the Emergency Assis tance Programme for Work and Production (ATP).383 
To compensate for the losses incurred in the overland passenger transport sector, the Ministry of 
Transport provided ARS 3 billion in cash grants to businesses in the sector. Urban and suburban 
passenger tra nsport companies also received compensation.  
4.4.4.1   Air transport  
4.302.   Air transport is regulated by the Aviation Code of Argentina (Law No. 17.285), the Law on 
Commercial Air Transport (Law No. 19.030) and bilateral agreements on air services. The Argentine 
Civil Avi ation Regulations (RAAC) and the Airworthiness Regulations of the Argentine Republic 
(DNAR) set out the requirements for airworthiness and civil aviation. As a member of the Regional 
Safety Oversight Cooperation System (SRVSOP), Argentina also applies the Latin American 
Aeronautical Regulations (LAR).384 It is a member of the International Civil Aviation Organization 
(ICAO) and the Latin American Civil Aviation Commission (LACAC). The National Civil Aviation 
Administration (ANAC), a decentralized entity within the Ministry of Transport, regulates air 
transport.  
4.303.   The State has a major stake in the sector, as it operates a number of state -owned and mixed 
ownership enterprises (Table 4.14). As of 2021, the State runs two monopolies: air traffic services, 
 
373 CAC (2017), Costo argentino . 
374 Law No.  27.132.  
375 Ministry of Transport. Viewed at: https://www.argentina.gob.ar/transporte/trenes  and 
https://www.argentina.gob.ar/transporte/gestion -2015-2019/trenes -de-cargas . 
376 The use of the Waterway is regu lated by the Agreement on Facilitation of Navigation and Commercial 
Transport on the Paraguay -Paraná Waterway between Argentina, the Plurinational State of Bolivia, Brazil, 
Paraguay and Uruguay.  
377 Decree No.  113/2010.  
378 Ministry of the Interior and Transp ort Resolution No.  936/2014.  
379 Information provided by the authorities.  
380 García N. (2019), La planificación del transporte por agua en Argentina: Límites y desafíos para los 
próximos años , Instituto del Transporte, Universidad Nacional de San Martín. Viewed at: 
http://www.unsam.edu.ar/institutos/transporte/publicaciones/doc13.pdf . 
381 Law on social solidari ty and reinvigorating production in the context of the public emergency (Law 
No. 27.541); and Article 18 of Decree No. 99/2019.  
382 Article 24 of the National Tourism Law (Law No. 25.997), as amended by Law No. 27.341.  
383 Emergency Assistance Programme for W ork and Production. Viewed at: 
https://www.argentina.gob.ar/produccion/medidas -pymes -covid/atp .  
384 The regulations can be consulted at: 
http://www.anac.gov.ar/anac/web/index.php/2/75/anac/normativa .  WT/TPR/S/412 • Argentina  
 
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 provided through the Empresa Argentina de Navegación Aér ea Sociedad del Estado (EANA);385 and 
ticket management and issuing services for state organizations, provided through Optar .386 
Table 4.14 State -owned and mixed ownership enterprises in the air sector, 2021  
Enterprise  Services  State 
participation  
EANA  Air traffic  100%  
Aerolíneas Argentinas Group   
100%  Aerolíneas Argentinas S.A.  Air transport services  
Aerohandling  Apron services  
Aerolíneas Argentinas Cargo  Marketing services for the international cargo holds of aircraft 
belonging to Aerolíneas Argentinas  
Jet Paq  Air mail services  
Optar  Ticket management and issuing services for state organizations  
Intercargo  Apron services  100%  
YPF Supply of aircraft fuel  100%  
Terminal de Cargas Argentina  Storage and logistics services  15% 
Aeropuertos Argentina 2000  Airport operator  15% 
Source:  Ministry of the Treasury and Public Finance (2018), Cadenas de valor: transporte aéreo de carga . 
Viewed at: 
https://www.economia.gob.ar/peconomica/docs/2018/SSPMicro_Cadenas_de_valor_Transporte_aer
eo_de_cargas.pdf ; and informatio n provided by the authorities.  
4.304.   Until 2020, the State owned two airlines: Austral  and Aerolíneas Argentinas . In 2020, 
Austral , which operated in the domestic and region market, was absorbed by Aerolíneas 
Argentinas .387 Aerolíneas Argentinas  is the biggest airline in the domestic market and one of the 
main international carriers; nonetheless, it has been making a loss, and the Sta te has had to provide 
it with support (Table 4.15).388 
Table 4.15 Support provided to Aerolíneas Argentinas , 2013 -20 
(USD  million)  
2013  2014  2015  2016  2017  2018  2019  2020a 
704 603 563 325 200 198 426 527 
a January -November . 
Source:  Information provided by the authorities.  
4.305.   In 2017, Argentina decided to strengthen the services on offer and update its airport 
infrastructure. In 2018, low -cost airlines began to operate, and new national direct -flight routes 
were opened, bypassing Buenos Aires.389 In 2016, the price cap on domestic air tickets was 
removed.390 Furthermore, since 2018 it has been possible to purchase domestic tickets for less than 
the minimum price (the reference price), provided that the purchase is made more than 30 days 
before the date of travel.391 With regard to international flights, there are plans to improve the terms 
of access in order to increase the country's connectivity. In that connection, Argentina has signed 
new air services agreements392 and has revised its existing agreements in order to provide more 
direct routes, expand capacity and increase the frequency of flights. Such plans were affected by 
the COVID -19 pandemic, however (Table 4.16).  
 
385 Before the EANA was established in 2015, air traffic management services were provided by the 
General Directorate of Air Traffic Control of the Argentin e Air Force.  
386 Article 3 of Decree No.  1.191/2012.  
387 Aerolíneas Argentinas , press release dated 30 November 2020. Viewed at: 
https://www.aerolineas.com.ar/es -ar/prensa/comunicadoprensainterno/5283_se -concreto -la-fusion -entre -
aerolineas -argentinas -y-austral .  
388 Casa Rosada. Viewed at: https://www.casarosada.gob.ar/79 -informacion/carta -jefatura -
gabinete/42189 -carta-del-ministerio -de-transporte -la-revolucion -de-los-aviones ; and statistics provided by the 
EANA. V iewed at: https://www.eana.com.ar/index.php/estadisticas#estadisticas -header . 
389 Ministry of Transport, news article dated 2 February 2017. Viewed at: 
https://www.argentina.gob.ar/noticias/aerolineas -argentinas -continua -mejorando -la-conectividad -dentro -del-
pais; and news article dated 3 January 20 19. Viewed at: https://www.argentina.gob.ar/noticias/la -revolucion -
de-los-aviones -en-2018-crecio -un-33-el-numero -de-pasajeros -respecto -de-2015.  
390 Decree No.  294/2016.  
391 Ministry of Transport Resolution No. 656/2018.  
392 Finland (2017), Israel (2017), Qatar (2014), Turkey (2014) and United Arab Emirates (2015).  WT/TPR/S/412 • Argentina  
 
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 Table 4.16 International air connectivity, 2013 -20 
(Number)  
 2013  2014  2015  2016  2017  2018  2019  2020  
Number of direct routes  92 89 96 105 130 148 124 88 
Departing from the provinces  8 7 16 26 44 51 37 30 
Cities with direct flights  6 5 6 7 6 9 9 8 
Number of seats (millions)  .. .. 15.0  16.3  18.0  19.3  17.8  4.0 
Weekly flights  1,749  1,763  1,693  1,731  1,900  2,025  1,863  522 
.. Not available.  
Source:  Information provided by the authorities.  
4.306.   International air services are regulated by air services agreements or, in their absence, by 
the principle of reciprocity.393 The authorities have indicated that air services with the Bolivarian 
Republic of Venezuela, with which Argentina has not yet signed  an agreement, are provided on the 
basis of reciprocity. Argentina upholds the fifth freedom of the air and has signed 40 air services 
agreements (Chart 4.2).   
4.307.   The ANAC is responsible for granting foreign airlines permission to operate flights to and 
from Argentina; foreign airlines must have a registered office and a legal representative in Argentina. 
The ANAC can grant a national carrier either a concession (for a regular service) or authorization 
(for a non -regular service).394 Air transport prices must b e notified to the ANAC and, depending on 
the relevant aviation agreement, may need to be approved by the ANAC.  
Chart 4.2 Air services agreements, 2021  
 
Source:  Information provided by the authorities.  
4.308.   Flights  within Argentine territory (internal flights) may be operated only by airlines 
established in Argentina that are controlled and managed by Argentine nationals. However, should 
 
393 Article 9 of Law No.  19.030.  
394 ANAC. Viewed at: https://www.anac.gov.ar/anac/web/index.php/2/179/autorizacion -y-aprobacion -
de-vuelos/autorizacion -de-empresas -para-operar -servicios -de-transporte -aerocomercial ; and Ministry of 
Transport Reso lution No. 1.302/2017.  
Plurinational
State of 
BoliviaBrazilColombia
Ecuador
Paraguay
UruguayPeru
ChileCanada
Cuba MexicoUnited State s
Costa Rica 
Panama
AustraliaMalasia
New 
ZealandSingaporeChina
Republic of KoreaRussian Federatio n
United
Arab
Emirates
IndonesiaTurkey
IsraelSpainGreeceUnited KingdomNetherlands
German yDenmark
Austria SwitzerlandCzech Republi c France
Italy
QatarWT/TPR/S/412 • Argentina  
 
- 251 - 
 
 
 it be in the public interest, a foreign company may be authorized to provide a given service, provided 
that a reciprocal agreement has been reached with the carrier's country of origin.395 The authorities 
have indicated that there have been instances where foreign companies have been authorized to 
operate in Argentine territory.  
4.309.   In 20 19, the monopoly held by the state -owned enterprise, Intercargo , over apron services 
was terminated. As of 2021, Intercargo  remains the main provider of such services, and four airlines 
run their own apron services.396 To provide apron services, including in cases where a company 
provides such services for its own use or for use by other companies in the same economic group,397 
a certificate must be obtained from the ANAC, to be renewed every two years. Service rates are  
approved and published by that ANAC.398 In addition, foreign airlines must contract apron services 
from companies certified by the ANAC. While aircraft fuel is provided by various companies, the 
state-owned oil company, YPF S.A., is the main provider.399 
4.310.   The National Airport System Regulatory Authority (ORSNA), a decentralized entity within the 
Ministry of Transport, is responsible for airport infrastructure and for overseeing concession 
contracts.400 Argentina has 55 airports, 24 of which can provide interna tional services. The airports 
are operated and administered by the provincial governments and by four concessionaires.401 The 
mixed -ownership enterprise, AA2000, is the leading airport operator, as it manages 35 airports, 
including the country's main airpor t, Ezeiza.402 ORSNA sets airport charges, which differ depending 
on the type of service (national or international), the category of the airport and the weight of the 
aircraft. These charges are revised annually.403 ORSNA also sets the rates for warehousing and 
maintenance services for goods held at freight terminals.404 
4.311.   During the review period and before the considerable drop in air traffic experienced in 2020 
and 2021 caused by the COVID -19 pandemic, international air traffic in Argentina ranged between 
some 11.4 million passengers in 2013 and 2014 to nearly 15 million passengers in 2018 
(Table  4.17). Ezeiza airport has the highest level of international traffic. In 2018, the freight terminal 
was renovated and fitted out for business and technological proces ses in order to deal with a larger 
volume of goods and reduce handling times.405 According to the authorities, Argentina's primary 
exports by air are perishable goods and precision equipment and tools.  
Table 4.17 International air traffic, 2013 -20 
 2013  2014  2015  2016  2017  2018  2019  2020  
Passengers 
(thousands)  11,360  11,455  11,724  12,824  14,667  14,998  14,389  3,253  
Freight (tonnes)  179,196  160,206  193,606  191,094  221,305  232,830  213,333  82,537  
Source:  Information provided by the authorities.  
4.4.4.2   Maritime transport  
4.312.   In 2020, 88% of goods exported and imported by Argentina were transported by sea or 
river; this mode of transport was used for 92% of exports and 75% of imports.406 Maritime transport 
 
395 Articles 97 and 99 of Law No. 17.285.  
396 Information provided by the authorities.  
397 Government of Argentina, PowerPoint presentation. Viewed at: 
https://www.argentina.gob.ar/sites/default/files/ppt_nueva_regulacion_del_servicio_de_rampa.pdf . 
398 Decree No.  49/2019; and ANAC. Viewed at: 
http://www.anac.gov.ar/anac/web/index.php/1/1874/resoluciones -y-disposiciones/tasas -y-aranceles . 
399 ANAC. Viewed at: https://www.anac.gov.ar/anac/web/index.php/2/395/infraestructura -y-
aerodromos/precio -de-combustible -en-aeropuertos -sna.  
400 ORSNA. Viewed at: https://www.argentina.gob.ar/orsn a/quienes -somos .  
401 ORSNA. Viewed at: https://www.argentina.gob.ar/orsna/concesionarios . 
402 AA2000. Viewed at: http://www.aa2000.com.ar/ .  
403 Airports  are grouped into three categories (I, II and III) according to the specifics of the 
infrastructure, such as the length and width of the runway or the approximate surface area. The Ezeiza and 
Jorge Newbery airports form a separate category.  
404 ORSNA. Viewe d at: https://www.argentina.gob.ar/orsna/tarifario .  
405 Statistics provided by ORSNA. Viewed at: https://www.argentina.gob.ar/orsna/informes/estadisticas ; 
and Ministry of Transport. Viewed at: https://www.argentina.gob.ar/noticias/se -inauguro -la-nueva -terminal -
de-cargas -de-ezeiza . 
406 Information provided by the authorities.  WT/TPR/S/412 • Argentina  
 
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 is regulated by various laws, which underwent no major changes during the review period. In 2017, 
two laws were promulgated to promote the development of merchant shipping and the naval industry 
(Table 4.18). The Under -Secretariat of Ports, Navigable Waterways and Merc hant Shipping within 
the Ministry of Transport oversees maritime services and serves as the national port authority.407 
Table 4.18 Key legislation on maritime transport  
 Laws  Regulations  
Shipping  Shipping Law (Law No.  20.094)  Decrees Nos.  770/2019, 572/1994, 
2.694/1991 and 817/1992  
Cabotage  Decree -Law on Shipping and National Cabotage 
Trade (Law No. 12.980, ratifying Decree -Law No. 
19.492)  Decree No. 817/1992; Ministry of 
Transport Resolution No.  52/2021.  
Vessel 
registration  Law establishing the National Vessel Regulations 
(Law No. 19.170)  Ordinances Nos. 2 -19 and 9 -02 and 
Argentine Naval Prefecture Order 
Nos. 1.082/2019  
Merchant 
shipping  Law on Merchant Shipping (Law No. 20.447)  Decree No. 4.780/1973  
Law on the Development of National Merchant 
Fleet and Regional Waterway Integration (Law 
No. 27.419)  Decree No.  650/2018  
Naval 
industry  Law establishing the regime to promote the 
Argentine naval industry (Law No. 27.418)  Decree No. 920/2018  
Source:  Ministry of Transport. Viewed at: https://www.argentina.gob.ar/puertos -vias-navegables -y-marina -
mercante/normativa/normativa -subsecretaria/marina -mercante -y-buques ; Argentine Naval 
Prefecture. Viewed at: https://www.argentina.gob.ar/prefecturanaval/reglamentacion/ordenanzas ; 
and information provided by the authorities.  
4.313.   International maritime transport services are regulate d by the principle of reciprocity.408 
Foreign shipping companies must be represented by a maritime agent in Argentina. In order to be 
able to fly the Argentine flag, a vessel must be listed in the National Ship Register, which is managed 
by the Argentine Na val Prefecture.409 Foreign nationals can register a vessel provided that they have 
an affiliate or subsidiary or reside in Argentina.410 Foreign bareboat chartered vessels may fly the 
flag of Argentina, provided they meet certain requirements related to tonnage, capacity, engine 
power and age.411 
4.314.   Cabotage services may be provided only by Argentine vessels and by those permitted to fly 
the national flag. In the event that such a vessel is not available, temporary authorization may be 
granted to use a foreig n vessel. In such cases, a cabotage exemption request must be submitted to 
the National Directorate of Shipping Policy and Merchant Shipping. A temporary permit allows a 
foreign vessel to provide cabotage services for an initial period of six months, which  may be renewed 
indefinitely where justified.412 
4.315.   Argentina's legislation establishes the "right to transport 50% of all water -borne foreign 
trade in vessels flying the Argentine flag."413 Furthermore, freight  belonging to the State must be 
transported primar ily in Argentine vessels.414 Merchant navy vessels are used principally to transport 
fuel and sand, and, in general, they do not undertake international transport or cabotage services 
(Table 4.19). To promote the involvement of the merchant navy in the frei ght transportation, thereby 
reducing foreign exchange spending on transport services provided by foreign companies, imports 
of new vessels have been exempted from customs duties since 2017 for a four -year period 
(extendable for a further two years). Betwee n 2017 and 2019, imports of vessels aged up to seven 
years were also exempt.415 To promote the development of the naval industry, since 2017 customs 
 
407 Ministry of Defence. Viewed at: https://www.argentina.gob.ar/armada/intereses -maritimos/puertos .  
408 Cargo reservation arrangements are in place with Brazil and Cuba (Law No.  23.557/1998 and Law 
No. 23.432./1986).  
409 Law No.  19.170.  
410 Article 52 of Law No.  20.094.  
411 Articles 19 and 20 of Law No.  27.419.  
412 Article 6 of Decree -Law No.  19.492 and Resolution No. 870/2018 of the Ministry of Transport.  
413 Article 1 of Law No.  20.447.  
414 Article 25 of Law No.  27.419.  
415 Articles 13 and 14 of the Law on the Development of National Merchant Shi pping and Regional River 
Integration (Law No. 27.419).  WT/TPR/S/412 • Argentina  
 
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 exemptions have also been granted for imports of consumables, parts, pieces, components and new 
replacement parts that are not produced locally.416 
Table 4.19 Ship movements  in Buenos Aires port, 2013 -20 
(Units)  
 2013  2014  2015  2016  2017  2018  2019  2020  
Ocean -going vessels  723 664 545 473 472 482 435 332 
National vessels and 
bareboat charters flying the 
Argentine flag  1 0 0 0 0 0 0 0 
Foreign vessels  722 664 545 473 472 482 435 332 
Cabotage vessels  662 664 487 354 292 416 342 346 
National vessels and 
bareboat charters flying the 
Argentine flag  112 149 147 141 91 52 32 64 
Foreign vessels  550 515 340 213 201 364 311 282 
Source:  Statistics provided by Buenos Aires port. Viewed at: 
https://www.argentina.gob.ar/transporte/puerto -ba/comercial/estadisticas ; and information 
provided by the authorities.  
4.316.   Crew members must meet nationality requirements. I n general, Argentine merchant navy 
ships, as well as foreign vessels providing cabotage services, must be crewed by Argentine nationals. 
If none are available, foreign nationals may be recruited, with preference given to nationals of 
MERCOSUR member States .417 
4.317.   Argentina has 34 public sea and inland ports and 68 private sea and inland ports.418 Buenos 
Aires port is the only federal public port. The terminals (both for freight and cruise passengers) at 
Buenos Aires port are operated under concession. The state -owned General Administration of state -
owned Ports (AGP) oversees concession contracts a nd manages port areas that are not under 
concession.419 All other public ports are run by provincial organizations or concessionaires.  
4.318.   The Under -Secretariat of Ports, Navigable Waterways and Merchant Shipping sets the 
maximum rate that can be charged for po rt pilotage and river and canal pilotage services throughout 
the country, as well as the surcharge applied according to the vessel's draught and for services in 
the ports/canals of Patagonia. Merchant navy vessels are eligible for a 25% discount on the cos t of 
such services.420 The services of a pilot must be used, although exceptions may be made for some 
types of merchant navy vessels.421 
4.319.   Port services can be provided by port operators or third parties; such services are provided 
under concession at Buenos A ires port.422 Rates for dockage and for port services are regulated by 
port operators.423 In 2019, to bring in more traffic, the AGP offered discounts to vessels operating 
between Buenos Aires port and inland ports in Bolivia and Paraguay.424 In 2020, in resp onse to the 
COVID -19 pandemic, the AGP reduced the fees for port concessionaires by 20%, introduced a 50% 
discount on general port dues for cargo ships and offered various discounts for cruise liners.425 
 
416 Article 7 of the Law establishing the Scheme to Promote the Argentine Naval Industry (Law 
No. 27.418); and Resolution No. 7/2019 of the Secretariat of Industry.  
417 Articles 29 -31 of Law No.  27.419.  
418 Ministry of Transport. Viewed at: https://www.argentina.gob.ar/puertos -vias-navegables -y-marina -
mercante/informacion -portuaria .  
419 Buenos Aires p ort. Viewed at: https://www.argentina.gob.ar/transporte/puerto -ba/el-puerto  and 
https://www.argentina.go b.ar/transporte/puerto -buenos -aires.  
420 Under -Secretariat of Ports, Navigable Waterways  and Merchant Shipping  Provision No. 9 -E/2018.  
421 Decree No.  2.694/1991.  
422 Buenos Aires port. Viewed at: https://www.argentina.gob.ar/transporte/puerto -ba/comercial .  
423 Under -Secretariat of Ports Navigable Waterways  and Merchant Shipping . Viewed at: 
https://www.argentina.gob.ar/puertos -vias-navegables -y-marina -mercante/costos -y-tarifas/tarifarios .  
424 Resolution No.  40/2019 of the AGP.  
425 AGP Order No. 51/2020 and AGP Resoluti on No. 15/2020, respectively .  WT/TPR/S/412 • Argentina  
 
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 4.320.   During the review period, the handling of bulk export s was the main operation carried out 
at Argentina's ports, whereas both the volume of imported goods and the number of cabotage 
operations decreased (Chart 4.3).  
Chart 4.3 Bulk port cargo, by type of operation , 2014 -20 
 
Note:  Data for 2020 are provisional.  
Source:  Statistics provided by the Under -Secretariat of Ports, Navigable Waterways  Merchant Shipping . 
Viewed at: https://www.argentina.gob.ar/PUERTOS -VIAS-NAVEGABLES -Y-MARINA -
MERCANTE/ESTADISTICAS -DE-CARGA ; and information provided by the authorities.  
4.321.   Container traffic is handled primarily at Buenos Aires port and Dock Sud port, and to a lesser 
extent at the private port of Zárate (Chart 4.4.). In 2018, a long -term plan was launched to 
modernize and restructure facilities at Buenos Aires port with the aim of improving its 
competitiveness, as the current depth of the access channel and the port means tha t deep -draught 
ships cannot enter, and container ship turnaround times and port -waiting times are significant 
time.426 In 2020, various measures were introduced to streamline foreign trade operations at 
Buenos  Aires port.427 
Chart 4.4 Containerized  cargo, by port, 2014 -20 
 
Note:  Data for 2020 are provisional.  
Source:  Statistics provided by the Under -Secretariat of Ports, Navigable Waterways  and Merchant Shipping . 
Viewed at: https://www.argentina.gob.ar/PUERTOS -VIAS-NAVEGABLES -Y-MARINA -
MERCANTE/ESTADISTICAS -DE-CARGA ; and information provided by the authorit ies. 
 
426 Plan de Modernización del Puerto Buenos Aires . Viewed at: 
https://ebelg.cancilleria.gob.ar/userfiles/ficha_plan_de_moderniz acion_resumen.pdf ; and Merk, O. (2018), 
"The container port of Buenos Aires in the mega -ship era", discussion paper, International Transport 
Forum/OECD. Viewed at: https://www.itf -oecd.org/sites/default/files/docs/buenos -aires-in-mega -ship-era.pdf . 
427 Buenos Aires port (2019), Informe de Gestión 2019 . Viewed at: 
https: //www.argentina.gob.ar/noticias/mira -nuestro -informe -de-gestion -2019-0; and Buenos Aires port. 
Viewed at: https://www.argentina.gob.ar/sites/default/files/broc hure_cargas_2019_actnov.pdf . 
52.2 54.748.7 46.540.434.5 33.570.079.5 96.494.0
83.8107.1102.524.621.320.722.7
23.415.114.214.116.98.68.5
6.17.8
6.5
020406080100120140160180
2014 2015 2016 2017 2018 2019 2020Millions of tonnes
Cabotage Export Import Transfer/Transit
1.0 1.00.9 0.91.00.8 0.90.4 0.50.50.60.7
0.70.70.1 0.10.10.10.1
0.10.10.2 0.20.20.20.3
0.20.2
0.00.51.01.52.02.5
2014 2015 2016 2017 2018 2019 2020Millions of TEU
Buenos Aires port Dock Sud Zárate All other portsWT/TPR/S/412 • Argentina  
 
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 4.4.5   Tourism  
4.322.   Tourism is a significant component of Argentina's service exports (Table 4.20). Between 
2013 and 2019, a series of measures, such as improving flight connectivity and simplifying visa 
requirements, were taken that boosted international tourist  arrivals.428 
Table 4.20 International tourism  statistics, 2013 -20 
 2013  2014  2015  2016  2017  2018  2019  2020  
Visitors (thousands)  .. .. .. 9,986  9,964  10,393  11,132  3,077  
Tourists  6,510  7,165  6,816  6,668  6,711  6,942  7,399  2,071  
Day-trippers  .. .. .. 3,318  3,253  3,452  3,732  1,006  
Inbound tourism expenditure 
(millions of USD)  6,128  6,607  6,151  5,345  5,699  5,754  5,543  1,669  
Expenditure on travel  5,453  5,923  5,637  4,847  5,239  5,317  5,130  1,583  
Expenditure on passenger 
transport  674 685 514 499 460 436 413 87 
Inbound tourism expenditure as a 
percentage of GDP  1.0 1.2 1.0 1.0 0.9 1.1 1.3 0.49 
Inbound tourism expenditure as a 
percentage of service exports  44.8 49.3 46.5 39.8 36.8 37.7 39.2 17.8 
Inbound tourism expenditure as a 
percentage of exports of goods 
and services  6.8 8.1 8.8 7.5 7.7 7.5 7.0 2.6 
.. Not available.  
Source:  Information provided by the authorities.  
4.323.   To help operators recover from the impact of the COVID -19 pandemic on the sector, the 
Tourism Assistance, Training and Infrastructure Plan (PACIT) was launched in 2020 to ensure that 
businesses had sufficient liquidity to cover their costs, retain their em ployees and resume operations 
(Box 4.5). In addition, through the Emergency Assistance Programme for Work and Production, 
ARS 36.5 billion was paid out in various forms of support for businesses and workers in the tourism 
sector.429 
 
428 Ministry of Transport. Viewed at: https://www.argentina.gob.ar/transporte/gestion -2015-2019 and 
https://www.argentina.gob.ar/oportunidades -naturales/turismo/conectividad ; and Ministry of the Treasury and 
Public Finance (2018), Informes de cadenas de valor: Turismo . Viewed at: 
https://www.senado.gov.ar/upload/32045.pdf . 
429 Information provided by the authorities; Law on support for and productive reinvigoration of national 
tourist activity (Law No.  27.563); M inistry of Tourism and Sports. Viewed at: 
https://www.argentina.gob.ar/turismoydeportes/medidas -en-turismo -frente -al-covid-19#1 ; and Ministry of 
Productive Development. Viewed at: https://www.argentina.gob.ar/noticias/nueva -linea-de-creditos -para-
pymes -turisticas . WT/TPR/S/412 • Argentina  
 
- 256 - 
 
 Box 4.5 Tourism Assistance, Training and Infrastructure Plan (PACIT)  
PACIT  comprises three funds:  
Assistance and Tourism Training Fund  (FACT)  
• Amount: ARS 3  billion; beneficiaries: 2,500 businesses and 38,000 employees  
• For travel agencies, tourist accommodation, bars and restaurants, and tourist recreational services  
• Provided funds to cover one adjustable minimum  living  wage (SMVM) per employee per month, for a six -
month period  
• Conditions: continue to pay employees' sala ries for at least the six months in which the support was paid , and 
attend online training  
Assistance for Tourism Service Providers  Fund  
• Amount: ARS 300 mill ion; beneficiaries: 6,500 service providers  
• For providers of complementary tourism services ( such as tour guides) who are self -employed and small 
taxpayers (under the monotributo  simplified tax regime ) 
• Each service provider received a one -off cash payment of ARS 40,000  
• Prioritization criteria: women and those promoting sociocultural and nature -based tourism  
• Conditions: attend online training  
50 Destinations Plan  
• Amount: ARS 1 .2 billion 
• Tourism infrastructure works in 70 locations  
• Agreements signed with 19 provinces  
Source:  PACIT. Viewed at: 
https://www.argentina.gob.ar/turismoydesportes/pacit#:~:text=Ante%20la% 20crisis%20tur%C3%
ADstica%20en,de%20recuperaci%C3%B3n%20y%20reactivaci%C3%B3n%20econ%C3%B3mica ; 
and information provided by the authorities.  
4.324.   In 2020, during the COVID -19 pandemic, the BNA opened up a line of credit of ARS 4 billion 
for tourism companies. L oans were interest free for one year, after which interest was payable at a 
rate of 18% for the next 12 months.430 According to the authorities, more than 1,100 loans were 
paid out, at a total value of ARS 3.8 billion. Of those loans, 80% were paid to trave l agencies, hotels 
and restaurants.  
4.325.   Tourism is regulated at federal and provincial levels. At the federal level, the sector is 
regulated by the National Tourism Law (Law No.  25.997/2005), the National Student Tourism Law 
(Law No. 25.599/2002), the National  Hotels Law (Law No. 18.828/1970) and the Travel Agencies 
Law (Law No. 18.829/1970). While a national law is in place to regulate the hotel industry, in practice 
tourist accommodation is regulated by provincial legislation.431 Tour guide services are regula ted by 
provincial regulations.  
4.326.   During the review period, the implementation of tourism policy and the regulation of the 
sector were the responsibility of the Ministry of Tourism until 2018, the Secretariat of Tourism from 
2018 to 2019 and, since 2020, the Ministry of Tourism and Sports. In addition to the relevant 
ministry, sectoral policies are drawn up with the participation of the Federal Tourism Council, the 
Interministerial Committee to Facilitate Tourism and the Argentine Chamber of Tourism. The 
provinces can have their own tourism authorities.  
4.327.   The tourism industry is considered an activity of national interest that is both essential and 
strategic for Argentina's development. The policy for the sector is set out in the Federal Strategic 
Plan for Sustai nable Tourism 2025 (drawn up in 2005 and updated in 2011 and 2014). The aim is 
to achieve an inclusive and sustainable tourism model.432 Following the drop in international tourism 
in 2020 in the wake of the COVID -19 pandemic, Argentina has focused on promo ting national tourism 
 
430 Ministry of Productive Development. Vi ewed at: https://www.argentina.gob.ar/noticias/nueva -linea-
de-creditos -para-pymes -turisticas . 
431 Del Busto E. (2014), "Régimen jurídico del alojamiento turís tico en la República Argentina", Realidad, 
Tendencias y Desafíos en Turismo , volume 12, November. Viewed at: 
file:///C:/Users/dorange/Downloads/2080 -59206 -1-SM%20(1).pdf .  
432 Federal Strategic Plan for Sustainable Tourism 2025 (last updated in 2014). Viewed at: 
https://www.mininterior.gov.ar/planificacion/pdf/Pl an-Federal -Estrategico -Turismo -Sustentable -2025.pdf ; and 
the Comprehensive Management Plan 2016 -19. Viewed at: 
http://www.turismo.gov.ar/sites/default/fil es/plan_integral_de_gestion_2016 -19-vf.pdf .  WT/TPR/S/412 • Argentina  
 
- 257 - 
 
 
 to help the sector recover. As part of those efforts, the Domestic Tourism Reactivation Programme 
was launched, with a budget of ARS 16.5 billion.433 
4.328.   The National Bureau of Tourism Promotion (INPROTUR), a public -private organization, i s 
responsible for promoting Argentina as a tourist destination. In 2020, the Bureau established the 
Tourism Promotion Fund (FonProTur) to support the provinces in their tourism promotion efforts in 
international markets during the COVID -19 pandemic.434 
4.329.   Foreign nationals based in Argentina can provide all types of tourism services, including tour 
guide services, provided that they meet the residency requirements of the relevant province. The 
type of authorization required to provide tourism services has not c hanged since 2013 (Table 4.21). 
Travel agencies must hold a full licence, which may be obtained only after having first held a 
provisional licence for one year. Agencies that sell study trips must also be certified. Travel agencies 
must also have physical premises, and those that wish to sell services online must also register a 
"tur.ar" domain with the National Directorate of Domain Names Registration (NIC Argentina).435 In 
2020, to support travel agencies during the pandemic, they were permitted to operate  entirely online 
for a specific period of time and to carry out related activities, not necessarily linked to travel sales.436 
Table 4.21 Forms of authorization required to provide tourism services  
 Type of authorization  Duration  Authorizing 
body  
Travel agencies  Temporary permit (for carrying 
out administrative procedures to 
set up the business)  
 Six months (renewable once only)  
Ministry of 
Tourism and 
Sports  Provisional licence (authorizing 
commercial activities)  
 One year  
Full licence  Permanent (but must be renewed 
each year)  
 
National authorization certificate 
for student tourism agencies  One year  
Tourist 
accommodation  Registration by class and category 
in the provincial register of tourist 
accommodation  Decided at provincial level  Provincial 
tourism 
authorities  
Tour guides  Credentials and registration in the 
provincial register  Decided at provincial level  Provincial 
tourism 
authorities  
Transport 
services  Permit  Five years, with the exception of 
cross-border services (two years); 
one year for chartered transport 
services (such as airport transfers)  Ministry of 
Transport  
Source:  Ministry of Tourism and Sports. Viewed at: https://www.argentina.gob.ar/node/40407  and 
https://www.argentina.gob.ar/node/37005 ; and Ministry of Transport. Viewed at: 
https://www.argentina.gob.ar/solicitar -permiso -de-turismo -y-oferta -libre; and informatio n provided 
by the authorities.  
4.330.   For a five -year period starting in 2019, tourism services purchased in foreign currency from 
overseas service providers or through intermediaries established in Argentina are subject to the 
 
433 Ministry of Tourism and Sports. Viewed at: 
https://www.argentina.gob.ar/turismoydeportes/medidas -en-turismo -frente -al-covid-19#1 ; and the Law on 
support for and productive reinvigoration of national tourist activity (Law No.  27.563).  
434 Ministry of Tourism and Sports. Viewed at: 
https://www.argentina.gob.ar/turismoydeportes/medidas -en-turismo -frente -al-covid-19#1 .  
435 Resolution No. 125/2013.  
436 Resolution No.  125/2020; and Ministry of Tourism and Sports. Viewed at: 
https://www.argentina.gob.ar/turismoydeportes/medidas -en-turismo -frente -al-covid-19#1 . WT/TPR/S/412 • Argentina  
 
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 PAIS tax (sections 1 and 3.1.4) at the general rate of 30% of the purchase value.437 Agencies that 
sell study trips must pay 6% of the value of the service to finance a guarantee fund.438 
4.331.   In 2018, the Tourism Development Fund (FonDeTur) was set up to finance projects that 
promoted value chain s, job creation and intrasectoral competitiveness. Each project selected 
received a non -repayable grant of between ARS 75,000 and ARS 150,000. In 2019, 126 projects 
received funding, for a total value of ARS 10.7 million. Projects run by women and projects  that 
promoted new destinations or products were chosen.439 In 2017, following a call for proposals, the 
Federal Science and Technology Council (COFECyT) provided ARS 22 million in funding for projects 
that promoted the sector's digital transformation. The Council has not held another call for 
proposals.440 
4.332.   Various provinces continue to incentivize investment in tourism through tax credits or 
exemption from local taxes, among other things.441 The BNA, the BICE, the provincial public banks 
and the Federal Inves tment Council (CFI) offer financing with preferential terms to support 
investment projects conducted by tourism businesses (Table 4.22).442 
Table 4.22 Loans available to the tourism sector  
Destination  Maximum 
amount  Interest rate  Discount offered 
by the Ministry  Loan period  Value of loans 
in 2019 (ARS)  
BNA: 700 Credit Line - Tourism (MSMEs)  
Investment and 
purchase of capital 
goods of domestic origin  100% of cost 
or ARS 25 
million  BADLAR + 20 
p.p.a.  3, 5 or 7 p.p., 
depending on the 
project  10 years  12,500,000  
Working capital  ARS 6 million  BADLAR + 22 
p.p.a.  3, 5 or 7 p.p., 
depending on the 
project  3 years  0.0 
BNA: Acquisition and Construction of Buildings for Tourist Accommodation Credit Line  (MSMEs)  
Acquisition and 
construction of hotels  ARS 30 million  BADLAR + 20 
p.p.a.  2, 3 or 4 p.p., 
depending on the 
project  10 years  8,500,000  
BNA: 600 Credit Line - Loans for microenterprises   
Investment and capital 
goods (including 
vehicles)  250 SMVMs  Up to 50 
SMVMs: fixed 
rate of 49%; 
more than 50 
SMVMs: BADLAR 
+ 1 p.p.a.  7 p.p.  5 years  1,905,000  
Working capital  250 SMVMs  Up to 50 
SMVMs: fixed 
rate of 54%; 
more than 50 
SMVMs: BADLAR 
+ 1 p.p.a.  7 p.p.  3 years  3,300,000  
BNA: 600-07 Credit Line – Micro -loans under the Nación Emprende  programme  (MSMEs)  
Investment, capital 
goods and working 
capital  8 SMVMs  Fixed rate of 
60% 7 p.p.  18 months  0.0 
BNA: 601 Credit Line - Nación Emprendedores  (NACE) financing for entrepreneurs (all business types)  
Investment, capital 
goods (excluding 
vehicles) and working 
capital  125 SMVM  BADLAR + 21 
p.p.a.  7 p.p.  5 years  0.0 
 
437 Article 35 of the Law on social solidarity and reinvigorating production in the context of the public 
emergency (Law No.  27.541); and AFIP. Viewed at: https://www.afip.gob.ar/impuesto -pais/.  
438 Ministry of Tourism and Sports. Viewed at: http://www.derechofacil.gob.ar/leysimple/turismo -
estudiantil/ . 
439 Ministry of Tourism and Sports. Viewed at: https://www.argentina.gob.ar/turismo/fondo -de-
desarrollo -turistico  and http://www.turismo.gov.ar/noticias/2018/05/07/ministerio -turismo -nacion -lanza -un-
fondo -para-desarrollo -turistico ; Yvera. Viewed at: https://www.yvera.tur.ar/fondetur/ ; and information 
provided by the  authorities.  
440 Federal Science and Technology Council. Viewed at: 
https://www.argentina.gob.ar/cofecyt/convocatorias -cerradas/asetur -2017.  
441 Ministry of Tourism (201 6), Guía de Regímenes de Incentivos a la Inversión Turística 2016 . Viewed 
at: 
http://www.turismo.gob.ar/sites/default/files/guia_d e_regimenes_de_incentivos_para_la_inversion_turistica.p
df. 
442 Secretariat for Tourism (2019), Asistencia financiera con condiciones favorables para el sector 
turismo . Viewed at: 
https://www.argentina.gob.ar/sites/default/files/asist_finan_condiciones_favorables_enero_2019.pdf . WT/TPR/S/412 • Argentina  
 
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 Destination  Maximum 
amount  Interest rate  Discount offered 
by the Ministry  Loan period  Value of loans 
in 2019 (ARS)  
Nación Leasing  (a BNA affiliate)  (SMEs and large enterprises)  
Capital goods  100% of cost 
or ARS 15 
million  BADLAR + 
spread  1, 3 or 5 p.p., 
depending on the 
project  5 years  0.0 
BICE: Investment financing - Development loans  (all business types)  
Investment and capital 
goods  80% of total 
cost or ARS 80 
million  ARS: BADLAR of 
private banks + 
margin of 6 
basis points  
USD: LIBOR + 
spread  ARS: 3 p.p.  
USD: 1 p.p.  ARS: 15 years  
USD: 10 years  45,000,000  
Note:  p.p. = percentage points; p.p.a. = annual percentage points; SMVM = adjustable minimum living 
wage; BADLAR (Buenos Aires Deposits of Large Amount Rate) = average interest rate paid on fixed -
term deposits of more than ARS 1 million by financial institutions.  
Source:  Secretariat for Tourism ( 2019), Asistencia financiera con condiciones favorables para el sector 
turismo . Viewed at: https://www.argentina.gob.ar/sites/default/file s/asist_finan_condiciones_ 
favorables_enero_2019.pdf . 
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  5  APPENDIX TABLES  
Table A1. 1 Merchandise exports by HS section, 2012 -20 
(USD  million and  %) 
Description  2012  2013  2014  2015  2016  2017  2018  2019  2020   
(USD  million)   
Total exports  79,982  75,963  68,404  56,784  57,879  58,384  61,558  65,114  54,884   
(% of exports)   
1 - Live animals; animal products  5.9 6.8 7.3 6.9 7.0 8.0 9.4 9.7 10.7 
 02. Meat and edible meat offal  2.3 2.5 2.7 2.4 2.5 3.1 4.2 5.7 5.8 
 03. Fish and crustaceans, molluscs and other 
aquatic invertebrates  1.6 2.0 2.3 2.5 2.9 3.3 3.4 2.7 2.9 
 04. Dairy produce; birds' eggs; natural honey; 
edible products of animal origin  1.9 2.2 2.2 1.8 1.4 1.3 1.7 1.3 1.8 
2 - Vegetable products  20.2 20.1 17.2 20.7 22.9 21.4 18.9 23.3 25.7 
 10. Cereals  11.9 10.9 7.7 8.5 12.1 11.9 12.3 13.9 16.0 
 12. Oil seeds and oleaginous fruits; miscellaneous 
grains, seeds and fruit; industrial or medicinal plants  4.7 6.1 6.2 8.4 6.6 5.4 2.9 6.2 5.9 
 08. Edible fruit and nuts; peel of citrus fruit or 
melons  1.5 1.6 1.6 1.6 1.8 1.6 1.6 1.2 1.4 
 07. Edible vegetables and certain roots and tubers  0.9 0.6 0.7 0.8 1.3 1.3 1.0 1.0 1.2 
3 - Animal or vegetable fats and oils  7.4 6.8 6.3 8.3 8.6 8.3 6.4 6.3 8.0 
4 - Prepared foodstuffs;  
beverages, spirits and vinegar; tobacco  
and manufactured tobacco substitutes  18.8 20.9 23.6 24.3 24.5 22.3 21.4 18.2 18.9 
 23. Residues and waste from the food industries  13.7 15.8 18.8 18.8 18.6 16.8 16.2 14.1 14.7 
 22. Beverages, spirits and vinegar  1.3 1.3 1.4 1.6 1.6 1.6 1.5 1.3 1.5 
 20. Preparations of vegetables, fruit, nuts or other 
parts of plants  1.7 1.7 1.5 2.0 2.0 2.0 1.9 1.5 1.2 
5 - Mineral products  9.0 6.6 6.7 4.0 4.4 4.2 5.4 3.7 2.8 
 27. Mineral fuels, mineral oils and products of their 
distillation  6.2 4.7 4.7 2.5 2.5 2.8 5.1 3.6 2.7 
6 - Products of the chemical or allied industries  7.5 7.0 7.9 7.9 8.3 8.0 6.6 4.0 4.3 
 38. Miscellaneous chemical products  3.2 2.5 3.2 2.4 3.3 3.2 2.7 1.8 1.7 
 30. Pharmaceutical products  1.1 1.2 1.2 1.8 1.6 1.3 1.1 0.9 1.0 
 33. Essential oils and resinoids; perfumery, 
cosmetic or toilet preparations  1.0 1.0 1.1 1.3 1.1 1.1 1.1 0.7 0.8 
7 - Plastics and articles thereof  2.2 2.2 2.4 2.1 2.1 2.2 1.8 1.1 1.0 
8 - Raw hides and skins, leather, furskins and articles  
thereof; saddlery and harness  1.2 1.3 1.6 1.6 1.3 1.3 1.3 0.8 0.5 
9 - Wood and articles of wood; wood charcoal  0.2 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.3 
10 - Pulp of wood or of other fibrous cellulosic 
material; paper and paperboard and articles thereof  0.7 0.6 0.7 0.7 0.6 0.7 0.6 0.3 0.3 
11 - Textiles and textile articles  0.8 0.7 0.8 0.7 0.8 0.7 0.9 0.6 0.5 
12 - Footwear, headgear, umbrellas, sun umbrellas, 
walking -sticks, seat -sticks, whips, riding -crops and 
parts thereof; prepared feathers and articles made 
therewith  0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 
13 - Articles of stone, plaster, cement, asbestos, 
mica or  similar materials; ceramic products; glass 
and glassware  0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.1 
14 - Natural or cultured pearls, precious or 
semi-precious stones, precious metals  3.2 2.7 3.0 4.4 3.9 4.3 4.0 3.3 2.1 
15 - Base metals and articles of base metal  3.6 3.3 3.3 2.4 2.2 2.9 1.4 0.4 0.5 
 73. Articles of iron or steel  1.7 1.5 1.6 0.8 0.6 1.1 0.5 0.2 0.2 
 76. Aluminium and articles thereof  0.9 1.0 0.9 0.9 1.1 1.4 0.6 0.1 0.1 
16 - Machinery and mechanical appliances; electrical 
equipment; parts thereof  3.0 3.0 2.8 2.4 2.2 2.3 2.3 1.5 1.4 
 84. Nuclear reactors, boilers, machinery and 
mechanical appliances  2.3 2.5 2.3 2.0 1.9 1.9 1.9 1.3 1.2 
17 - Vehicles, aircraft, vessels and associated 
transport equipment  12.8 14.1 12.7 11.1 9.3 10.9 10.9 6.6 5.0 
 87. Vehicles other than railway or tramway 
rolling -stock, and parts and accessories thereof  12.0 13.3 12.2 10.5 8.7 9.9 10.9 6.6 5.0 
18 - Optical, photographic, cinematographic, 
measuring, checking and precision instruments and 
apparatus  0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 
19 - Arms and ammunition; parts and accessories 
thereof  0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
20 - Miscellaneous manufactured articles  0.4 0.3 0.3 0.3 0.2 0.2 0.2 0.1 0.1 
21 - Works of art, collectors' pieces and antiques  0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.0 
Other  2.6 2.8 2.7 1.6 1.2 1.5 8.0 19.3 17.7 
Source:  WTO Secretariat calculations based on data from the UN Comtrade database and data provided by 
the authorities for the year 2018.  
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 Table A1. 2 Total merchandise imports by HS section, 2012 -20 
(USD  million and  %) 
Description  2012  2013  2014  2015  2016  2017  2018  2019  2020    
(USD  million)   
Total imports  67,974  74,442  65,736  60,203  55,911  66,899  65,441  49,125  42,356    
(% of imports)   
1 - Live animals; animal products  0.3 0.3 0.3 0.3 0.4 0.4 0.5 0.5 0.5  
02. Meat and edible meat offal  0.2 0.1 0.1 0.1 0.2 0.2 0.2 0.3 0.2  
03. Fish and crustaceans, molluscs and other 
aquatic invertebrates  0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 
2 - Vegetable products  0.9 0.8 0.9 1.1 1.7 2.2 4.9 4.5 6.5  
12. Oil seeds and oleaginous fruits; miscellaneous 
grains, seeds and fruit; industrial or medicinal 
plants  0.1 0.1 0.1 0.1 0.7 1.2 4.0 3.4 4.9 
 
08. Edible fruit and nuts; peel of citrus fruit or 
melons  0.3 0.4 0.5 0.5 0.6 0.6 0.5 0.6 0.9 
3 - Animal or vegetable fats and oils  0.1 0.2 0.1 0.2 0.1 0.1 0.1 0.1 0.2 
4 - Prepared foodstuffs; beverages, spirits and 
vinegar; tobacco and manufactured tobacco 
substitutes  1.5 1.3 1.4 1.5 1.7 1.7 1.6 1.6 2.0 
 
21. Miscellaneous edible preparations  0.3 0.3 0.3 0.3 0.4 0.3 0.3 0.4 0.4  
18. Cocoa and cocoa preparations  0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.4  
20. Preparations of vegetables, fruit, nuts or other 
parts of plants  0.2 0.2 0.2 0.2 0.3 0.2 0.2 0.2 0.3 
5 - Mineral products  14.1 17.5 18.2 12.2 9.3 9.2 10.9 9.7 7.1  
27. Mineral fuels, mineral oils and products of 
their distillation  12.9 16.1 16.6 10.9 8.4 8.2 9.6 8.5 6.1 
 
26. Ores, slag and ash  1.0 1.2 1.4 0.9 0.6 0.8 1.0 0.9 0.9 
6 - Products of the chemical or allied industries  14.8 13.6 15.0 15.7 15.2 13.6 14.8 18.2 21.1  
29. Organic chemicals  4.5 4.1 4.6 4.6 4.0 3.5 3.7 4.8 6.0  
30. Pharmaceutical products  3.1 2.9 3.3 4.0 3.9 3.6 3.6 4.3 5.1  
38. Miscellaneous chemical products  2.2 2.1 2.4 2.3 2.3 2.2 2.1 2.7 3.0  
31. Fertilisers  1.4 1.1 1.3 1.0 1.4 1.1 1.7 2.1 2.6  
28. Inorganic chemicals; organic or inorganic 
compounds of precious metals  1.1 1.0 1.1 1.3 1.1 1.0 1.3 1.5 1.3 
 
33. Essential oils and resinoids; perfumery, 
cosmetic or toilet preparations  0.8 0.8 0.7 0.8 0.9 0.8 0.8 0.9 0.9 
7 - Plastics and articles thereof  6.1 5.7 5.7 6.1 5.7 5.2 5.2 6.0 6.7  
39. Plastics and articles thereof  4.2 3.7 3.9 4.4 4.0 3.6 3.6 4.3 5.0  
40. Rubber and articles thereof  1.9 1.9 1.8 1.7 1.7 1.6 1.5 1.7 1.8 
8 - Raw hides and skins, leather, furskins and 
articles thereof  0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.3 0.2 
9 - Wood and articles of wood; wood charcoal  0.3 0.2 0.2 0.3 0.3 0.2 0.2 0.2 0.3 
10 - Pulp of wood or of other fibrous cellulosic 
material; paper and paperboard  1.9 1.6 1.7 2.0 1.9 1.7 1.8 2.0 2.1 
 
48. Paper and paperboard; articles of paper pulp, 
of paper or of paperboard  1.5 1.4 1.4 1.6 1.5 1.2 1.2 1.4 1.6 
11 - Textiles and textile articles  2.3 2.0 2.1 2.4 2.6 2.3 2.4 2.4 2.6 
12 - Footwear, headgear, etc.  0.7 0.7 0.6 0.8 1.1 1.0 1.0 0.9 0.7 
13 - Articles of stone, plaster, cement, asbestos, 
mica or similar materials; ceramic products; glass 
and glassware  0.8 0.8 0.8 1.0 1.0 1.0 0.9 0.9 0.9 
 
70. Glass and glassware  0.4 0.4 0.5 0.5 0.5 0.4 0.4 0.4 0.4 
14 - Natural or cultured pearls, precious or 
semi-precious stones, precious metals  0.1 0.1 0.2 0.2 0.1 0.2 0.2 0.3 0.3 
15 - Base metals and articles of base metal  5.8 4.9 5.3 5.9 4.7 5.3 5.5 5.7 5.5  
72. Iron and steel  2.0 1.6 1.5 1.8 1.2 1.9 1.7 1.4 1.5  
73. Articles of iron or steel  1.7 1.4 1.6 1.7 1.4 1.4 1.5 1.9 1.4  
76. Aluminium and articles thereof  0.5 0.4 0.5 0.5 0.5 0.5 0.6 0.6 0.7  
74. Copper and articles thereof  0.6 0.5 0.6 0.6 0.4 0.4 0.4 0.4 0.6 
16 - Machinery and mechanical appliances; 
electrical equipment; parts thereof  25.8 25.3 25.8 28.4 27.6 27.7 26.5 28.5 26.3 
 
84. Nuclear reactors, boilers, machinery and 
mechanical appliances  14.5 13.9 14.7 15.4 14.9 14.9 14.5 15.4 15.1 
 
85. Electrical machinery and equipment and parts 
thereof; recorders, etc.  11.3 11.4 11.1 13.0 12.7 12.9 12.0 13.1 11.3 
17 - Vehicles, aircraft, vessels and associated 
transport equipment  19.3 20.2 16.2 16.4 20.6 22.2 17.6 12.2 11.4 
 
87. Vehicles other than railway or tramway 
rolling -stock, and parts and accessories thereof  17.6 19.3 13.4 13.8 17.2 19.7 16.8 11.5 10.9 
18 - Optical, photographic, cinematographic, 
measuring, checking and precision instruments and 
apparatus  2.5 2.4 2.6 3.2 3.0 2.8 2.7 2.9 2.9 
 
90. Optical, photographic, cinematographic, 
measuring, checking, precision, medical or 
surgical instruments and apparatus  2.4 2.2 2.5 3.0 2.8 2.7 2.6 2.8 2.8 
19 - Arms and ammunition; parts and accessories 
thereof  0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 WT/TPR/S/412 • Argentina  
 
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  Description  2012  2013  2014  2015  2016  2017  2018  2019  2020  
20 - Miscellaneous manufactured articles  1.5 1.4 1.4 1.5 1.8 1.8 1.8 1.7 1.6  
94. Furniture, etc.  0.6 0.6 0.6 0.6 0.8 0.8 0.9 0.9 0.7 
21 - Works of art, collectors' pieces and antiques  0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 
Other  1.0 0.9 1.1 0.9 0.8 0.8 0.9 1.2 1.1 
Source:  WTO Secretariat calculations based on data from the UN Comtrade database.  
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 Table A1. 3 Merchandise exports by trading partner, 2012 -20 
(USD  million and  %) 
Description  2012  2013  2014  2015  2016  2017  2018  2019  2020   
(USD  million)   
Total exports  79,982  75,963  68,404  56,784  57,879  58,384  61,558  65,114  54,884   
(% of exports)   
America  50.6 48.8 47.0 43.0 40.7 42.1 44.5 39.5 37.8 
 United States  5.0 5.5 6.0 6.0 7.8 7.7 6.9 6.3 6.0 
 Other America  45.5 43.3 41.0 37.0 32.9 34.4 37.5 33.2 31.8 
 Brazil  20.6 21.0 20.3 17.8 15.6 15.9 18.3 15.9 14.5 
 Chile 6.3 5.0 4.1 4.2 4.0 4.5 4.9 4.7 5.3 
 Peru 2.4 1.9 1.6 1.3 1.4 1.8 1.9 2.4 2.5 
 Uruguay  2.3 2.3 2.3 2.2 2.0 2.1 2.0 1.7 1.9 
 Paraguay  1.7 1.7 1.8 1.9 1.7 2.0 2.0 1.6 1.6 
 Colombia  2.6 2.0 1.3 0.7 0.9 1.0 1.1 1.4 1.1 
 Bolivia, Plurinational State of  1.1 1.0 1.2 1.1 1.0 1.0 1.0 0.9 1.0 
 Canada  2.8 2.2 2.4 2.3 2.0 2.3 2.1 1.0 0.8 
 Mexico  1.1 1.3 1.3 1.4 1.3 1.1 1.2 1.0 0.8 
 Cuba 0.1 0.4 0.4 0.5 0.6 0.3 0.4 0.4 0.5 
 Ecuador  0.5 0.5 0.6 0.4 0.4 0.6 0.7 0.4 0.4 
Europe  15.9 14.5 16.0 17.5 17.8 18.0 18.0 17.1 16.2 
 EU (27)  13.5 12.1 12.9 13.3 13.7 13.6 13.6 12.4 12.1 
 Netherlands  2.8 2.5 2.3 2.1 2.0 2.4 2.8 2.8 2.9 
 Spain  3.1 2.2 2.5 2.4 2.8 2.6 2.6 2.2 2.0 
 Italy 1.4 1.4 1.5 1.7 1.7 1.8 1.8 1.5 1.5 
 Germany  2.5 2.2 2.2 2.4 2.2 2.0 1.7 1.4 1.3 
 Poland  0.7 0.8 1.1 1.0 1.1 1.0 1.0 0.8 1.1 
 EFTA 0.9 0.8 0.8 2.2 2.0 2.2 2.1 2.6 1.9 
 Switzerland  0.8 0.7 0.8 2.2 2.0 2.2 2.1 2.6 1.9 
 Other Europe  1.5 1.6 2.3 2.0 2.2 2.3 2.2 2.0 2.2 
 United Kingdom  1.0 0.9 1.3 1.3 1.2 1.3 1.3 1.1 1.1 
 Turkey  0.4 0.6 0.5 0.6 0.8 0.8 0.7 0.8 0.9 
Commonwealth of Independent States (CIS)a 1.0 1.1 1.1 1.0 0.9 1.0 1.4 1.1 1.3 
 Russian Federation  0.9 1.0 1.1 0.8 0.8 0.9 1.2 1.0 1.1 
Africa  6.9 6.6 6.9 6.9 8.3 7.9 7.4 7.5 7.5 
 Egypt  1.3 1.7 1.5 1.9 3.1 2.2 1.6 1.5 2.1 
 Algeria  1.8 2.1 2.3 2.0 2.0 2.5 2.8 2.3 2.0 
 Morocco  0.6 0.6 0.8 0.6 0.6 0.9 0.6 0.9 0.9 
 South Africa  1.3 0.9 0.7 1.2 1.4 0.9 0.8 0.9 0.6 
Middle East  4.0 4.8 4.6 4.0 3.9 4.3 4.8 5.1 5.8 
 Saudi Arabia, Kingdom of  1.0 1.5 1.2 0.7 1.1 1.2 1.5 1.6 1.7 
 United Arab Emirates  0.4 0.3 0.3 0.3 0.4 0.4 0.4 0.7 1.0 
 Iran 1.2 1.5 1.4 1.3 0.7 0.8 0.7 1.1 0.7 
 Iraq 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.3 0.5 
 Israel  0.3 0.3 0.3 0.3 0.3 0.3 0.4 0.4 0.5 
Asia 18.7 21.2 21.4 25.8 27.0 24.9 22.1 28.3 29.6 
 China  6.3 7.3 6.5 9.1 7.7 7.4 6.8 10.5 9.6 
 Japan  1.5 1.8 1.1 1.0 1.1 1.1 0.8 0.7 0.6 
 Other Asia  10.9 12.1 13.8 15.6 18.2 16.4 14.5 17.1 19.5 
 Viet Nam  1.0 1.6 2.3 3.2 4.4 3.9 3.4 4.3 5.2 
 India 1.5 1.4 2.6 3.5 3.8 3.6 2.6 3.3 4.6 
 Indonesia  1.9 1.9 1.8 1.9 2.1 1.8 2.1 2.5 2.4 
 Malaysia  1.2 1.3 1.4 1.5 1.7 1.5 1.6 1.4 1.7 
 Korea, Republic of  1.7 1.3 0.7 1.0 1.5 0.9 0.5 1.3 1.3 
 Australia  0.7 1.0 1.0 1.1 0.9 1.1 1.0 0.8 1.0 
 Bangladesh  0.4 0.4 0.5 0.5 0.8 1.0 0.9 0.9 0.8 
 Thailand  0.9 1.2 0.9 0.7 1.0 0.9 0.9 0.9 0.8 
Other  2.8 3.0 2.9 1.9 1.3 1.6 1.9 1.5 1.6 
 Free zones  0.1 0.1 0.2 0.2 0.1 0.1 0.1 0.0 0.0 
Memorandum:           
EU (28)  14.5 13.0 14.2 14.5 14.9 14.9 15.0 13.5 13.3 
Latin American Integration Association  41.8 40.1 37.8 33.9 30.2 31.0 34.4 31.1 30.0 
Southern Common Market  27.4 27.9 27.3 24.2 20.5 20.4 23.0 19.5 18.2 
a Commonwealth of Independent States, including some associate and former member States.  
Source:  WTO Secretariat calculations based on data from the UN Comtrade database.  
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  Table A1. 4 Merchandise imports by trading partner, 2012 -20 
(USD  million and  %) 
Description  2012  2013  2014  2015  2016  2017  2018  2019  2020   
(USD  million)   
Total imports  67,974  74,442  65,736  60,203  55,911  66,899  65,441  49,125  42,356   
(% of imports)   
America  51.7 50.6 49.6 46.5 47.4 49.2 47.9 46.1 45.2 
 United States  12.5 10.8 13.9 13.2 12.5 11.4 11.8 12.8 10.4 
 Other America  39.2 39.7 35.7 33.3 34.9 37.8 36.2 33.3 34.8 
 Brazil  26.0 25.7 21.8 21.7 24.3 26.7 23.8 20.5 20.4 
 Paraguay  0.7 0.7 0.8 0.7 1.3 1.6 3.3 3.4 5.2 
 Bolivia, Plurinational State of  1.9 3.8 3.9 2.4 1.6 1.9 2.2 2.8 2.4 
 Mexico  3.3 2.9 2.5 3.0 3.2 3.1 2.9 2.3 2.2 
 Chile 1.5 1.3 1.3 1.2 1.2 1.3 1.1 1.1 1.3 
 Uruguay  0.8 0.7 0.7 0.7 0.8 0.7 0.7 0.8 0.8 
 Canada  0.8 0.7 0.8 0.8 0.6 1.0 0.6 0.7 0.7 
 Ecuador  0.3 0.4 0.4 0.5 0.5 0.5 0.5 0.5 0.6 
 Colombia  0.5 0.6 0.4 0.4 0.4 0.3 0.4 0.4 0.5 
 Peru 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.3 
 Trinidad and Tobago  2.8 2.5 2.8 1.6 0.5 0.2 0.2 0.3 0.2           
Europe  19.5 19.1 18.8 18.8 19.4 18.5 18.7 19.7 18.2 
 EU (27)  17.1 16.9 16.4 15.8 17.0 16.5 16.3 17.0 15.6 
 Germany  5.4 5.2 5.4 5.2 5.5 4.8 5.1 5.6 4.7 
 Italy 2.1 2.2 2.5 2.3 2.6 2.5 2.4 2.3 2.4 
 France  2.3 2.3 2.2 2.4 2.8 2.0 1.7 1.8 1.8 
 Spain  1.9 1.8 1.6 1.6 1.6 2.2 2.2 2.0 1.7 
 Netherlands  1.7 1.4 1.2 0.8 0.8 0.7 0.8 0.9 0.8 
 EFTA 1.1 0.8 1.1 1.7 1.2 0.9 1.0 0.9 1.1 
 Switzerland  0.8 0.7 0.8 1.1 0.9 0.9 0.9 0.8 1.0 
 Other Europe  1.4 1.3 1.3 1.3 1.2 1.1 1.3 1.7 1.5 
 United Kingdom  0.9 0.8 0.8 0.9 0.8 0.7 0.9 1.2 1.0 
 Turkey  0.4 0.5 0.4 0.3 0.3 0.3 0.4 0.5 0.5           
Commonwealth of Independent States (CIS)a 1.8 2.3 2.1 1.2 0.7 0.5 0.9 0.5 0.4 
 Russian Federation  1.7 2.3 2.0 1.1 0.7 0.5 0.8 0.5 0.4           
Africa  0.7 1.0 1.5 2.0 1.4 1.6 1.4 1.2 1.6 
 Morocco  0.2 0.1 0.1 0.1 0.2 0.2 0.3 0.4 0.6 
 Egypt  0.1 0.2 0.0 0.0 0.0 0.1 0.1 0.3 0.5 
 South Africa  0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 
 Algeria  0.0 0.0 0.1 0.0 0.1 0.0 0.1 0.1 0.2 
 Nigeria  0.1 0.3 0.9 1.5 0.7 0.7 0.4 0.0 0.0           
Middle East  1.1 1.7 1.6 0.9 1.4 1.2 1.8 1.1 1.1 
 Israel  0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.3 
 Qatar  0.7 1.4 1.3 0.3 0.5 0.7 0.7 0.1 0.3 
 United Arab Emirates  0.0 0.1 0.0 0.1 0.1 0.1 0.2 0.4 0.2 
 Oman  0.0 0.0 0.0 0.0 0.1 0.0 0.2 0.1 0.2 
 Saudi Arabia, Kingdom of  0.1 0.0 0.1 0.3 0.4 0.1 0.3 0.2 0.1           
Asia 23.8 24.2 25.2 29.6 28.7 27.9 28.2 30.1 32.1 
 China  14.6 15.2 16.4 19.6 18.7 18.4 18.4 18.8 20.4 
 Japan  2.2 2.0 2.1 2.0 1.7 1.6 1.7 1.8 1.7 
 Other Asia  7.0 6.9 6.7 7.9 8.2 7.9 8.1 9.4 9.9 
 Thailand  1.3 1.3 1.2 1.4 2.0 1.9 2.0 2.4 2.4 
 India 1.0 1.0 1.1 1.2 1.3 1.2 1.4 1.6 1.9 
 Viet Nam  0.2 0.3 0.3 0.6 0.6 0.9 1.0 1.3 1.8 
 Korea, Republic of  1.7 1.7 1.4 1.8 1.6 1.3 1.0 1.0 0.9 
 Chinese Taipei  0.7 0.7 0.7 0.8 0.7 0.7 0.6 0.6 0.8 
 Malaysia  0.7 0.7 0.6 0.6 0.5 0.5 0.4 0.5 0.6           
Other  1.4 1.1 1.3 1.1 0.9 1.1 1.1 1.4 1.3 
 Free zones  0.2 0.3 0.3 0.2 0.2 0.2 0.2 0.1 0.1 
Memorandum:           
EU (28)  18.0 17.7 17.3 16.7 17.9 17.2 17.2 18.2 16.6 
Latin American Integration Association  35.4 36.4 31.9 30.9 33.7 36.5 35.3 32.2 33.9 
Southern Common Market  27.5 27.3 23.3 23.1 26.6 29.1 27.9 24.8 26.5 
a Commonwealth of Independent States, including some associate and former member States.  
Source:  WTO Secretariat calculations based on data from the UN Comtrade database.  
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 Table A2. 1 Notifications, 1.1.2013 to 30.6.2021  
Agreement/Decision  Description  Frequency  WTO document  
Agreement on Trade Facilitation  
Article 15  Category A commitments  Ad hoc  WT/PCTF/N/ARG/1, 27/5/2016  
Articles 15 and 16  Deadlines for the 
implementation of 
Category B and C 
commitments  G/TFA/N/ARG/1, 15/3/2017  
Article 1.4  Publication of all 
procedures for 
importation, exportation 
and transit, including 
fees imposed  G/TFA/N/ARG/2/Rev.3, 
5/10/2020  
Article 10.4.3  Single window  
Article 10.6.2  Customs brokers  
Article 12.2.2  Contact point for the 
exchange of information  
Agreement on Agriculture  
Articles 10 and 18.2; 
ES:1 Export subsidies  On an annual basis  G/AG/N/ARG/46, 7/12/2020  
Articles 10 and 18.2; 
ES:2 Export subsidies  On an annual basis  G/AG/N/ARG/47, 7/12/2020  
Article 18.2; DS:1  Domestic support  On an annual basis  G/AG/N/ARG/45, 4/9/2019  
General Agreement on Trade in Services  
Article III:4 and/or 
Article IV:2  Enquiry points/contact 
points  Once only  S/ENQ/78/Rev.18, 1/2/2019  
Enabling Clause - Integration  
Paragraph 4(a)  Preferential agreements 
between developing 
countries  Ad hoc  WT/COMTD/RTA15/N/1, 
3/3/2020  
WT/COMTD/RTA11/N/1, 
1/11/2019  
WT/COMTD/RTA10/N/1, 
12/9/2019  
WT/COMTD/N/56, 19/2/2018  
WT/COMTD/N/55, 20/7/2017  
WT/COMTD/N/53, 19/6/2017  
GATT  1994  
Article XXVIII:5  Modification of Schedules  On a triennial basis  G/MA/374, 15/9/2020  
G/MA/332, 27/3/2017  
G/MA/292, 18/8/2014  
Article XVII:4(a)  State trading activities  On an annual basis  G/STR/N/18/ARG, 30/9/2020  
Article XXIV:7(a)  Formation of a free -trade 
area Ad hoc  WT/REG398/N/1, 1/4/2019  
Agreement on Implementation of Article VI of the GATT (anti -dumping)  
Article 16.4 – Ad hoc  
reports  Anti-dumping actions 
(preliminary and final)  Ad hoc  G/ADP/N/356, 
9/6/2021 - G/ADP/N/238, 
21/1/2013  
Article 16.4 – 
Semi-annual reports  Anti-dumping actions 
(taken within the 
preceding six months)  On a semi -annual 
basis G/ADP/N/350/ARG, 19/3/2021  
Agreement on Import Licensing Procedures  
Articles 5.1, 5.2, 5.3  Institution of import 
licensing procedures or 
changes in these 
procedures  Ad hoc  G/LIC/N/2/ARG/28, 26/9/2017  
G/LIC/N/2/ARG/27, 10/3/2016  
G/LIC/N/2/ARG/26, 31/1/2013  
Article 7.3  Replies to the 
questionnaire on import 
licensing procedures  On an annual basis  G/LIC/N/3/ARG/16, 10/2/2020  
Agreement on the Application of Sanitary and Phytosanitary Measures  
Article 7, Annex B  Sanitary/phytosanitary 
regulations   Ad hoc  G/SPS/N/ARG/251, 
9/6/2021 - G/SPS/N/ARG/164, 
19/2/2013  
Agreement on Rules of Origin  
Article 5 and 
Annex  II.4 – First time  Existing preferential and 
non-preferential rules of 
origin  Once only  G/RO/N/186, 15/4/2019  WT/TPR/S/412 • Argentina  
 
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  Agreement/Decision  Description  Frequency  WTO document  
Agreement on Technical Barriers to Trade  
Article 2.10  Technical regulations 
(urgent)  Ad hoc  G/TBT/N/ARG/412, 21/1/2021  
Article 2.9  Technical regulations  Ad hoc  G/TBT/N/ARG/422, 
21/4/2021 - G/TBT/N/ARG/278, 
31/1/2013  
Articles 2.9 and 5.6  Technical regulations and 
conformity assessment 
procedures  Ad hoc  G/TBT/N/ARG/413, 
15/3/2021 - G/TBT/N/ARG/289, 
23/6/2015  
Article 5.6  Conformity assessment 
procedures  Ad hoc  G/TBT/N/ARG/404, 
14/9/2020 - G/TBT/N/ARG/293, 
25/9/2015  
Decision on Notification Procedures for Quantitative Restrictions (G/L/59/Rev.1) – biennial – 
complete notifications   
List of quantitative 
restrictions in force  Once only, before 
30 September  2012 
(within two years of 
1 October  2012); 
Ad hoc (changes)  G/MA/QR/N/ARG/2, 10/2/2021  
G/MA/QR/N/ARG/1/Rev.2, 
14/10/2018  
Agreement on Safeguards  
Article 12.6  Laws/regulations and 
administrative 
procedures or absence 
thereof  Once (promptly 
after the entry into 
force of the WTO 
Agreement); ad hoc  
(promptly after the 
establishment of 
such laws, 
regulations and 
administrative 
procedures, with 
updates to reflect 
modifications)  G/SG/N/1/ARG/2/Suppl.2, 
20/5/2016  
Agreement on Subsidies and Countervailing Measures  
Article 25.1 - GATT 
Article XVI:1  Subsidies  On an annual basis  G/SCM/N/343/ARG, 14/2/2019  
Article 25.11 – 
Semi-annual reports  Countervailing duty 
actions (taken within the 
preceding six months)  On a semi -annual 
basis G/SCM/N/371, 15/12/2020  
Source:  WTO Secretariat.  
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 Table A3. 1 Summary analysis of the MFN tariff, 2020  
Product description  Number 
of lines  Average 
(%) Range 
(%) Coefficient of 
variation (CV)  Rangea 
(%) 
Total  10,273  11.4 0 - 35 0.8 0 - 35 
HS 01 -24 1,320  10.4 0 - 35 0.5 0 - 35 
HS 25 -97 8,953  11.6 0 - 35 0.8 5 - 35 
By WTO category       
Agricultural products  1,064  10.4 0 - 35 0.6 0 - 35 
 - Animals and animal products  138 8.0 0 - 16 0.6 3.8 - 35 
 - Dairy products  37 18.6 12 - 28 0.3 35 - 35 
 - Fruit, vegetables and garden 
produce  289 9.4 0 - 35 0.5 10 - 35 
 - Coffee and tea  30 14.5 10 - 35 0.4 25 - 35 
 - Cereals and cereal 
preparations  140 11.7 0 - 31 0.5 3.8 - 35 
 - Oilseeds, fats and oils and 
products thereof  126 8.7 0 - 33.4 0.7 20 - 35 
 - Sugar and confectionery  23 17.6 16 - 20 0.1 25 - 35 
 - Beverages, alcohol and 
tobacco  75 17.7 6 - 35 0.3 35 - 35 
 - Cotton  7 6.3 6 - 8 0.1 35 - 35 
 - Other agricultural products 
n.e.s.  199 8.0 0 - 20 0.6 0 - 35 
Non-agricultural products 
(including petroleum)  9,209  11.5 0 - 35 0.8 5 - 35 
 - Non-agricultural products
 (excluding petroleum)  9,182  11.6 0 - 35 0.8 5 - 35 
 - - Fish and fish products  366 10.1 0 - 16 0.3 5 - 35 
 - - Mineral products and metals  1,218  9.9 0 - 35 0.6 15 - 35 
 - - Chemicals and photographic 
products  3,230  6.9 0 - 35 0.8 10 - 35 
 - - Wood, wood pulp, paper and 
furniture  406 10.8 0 - 35 0.6 12 - 35 
 - - Textiles  834 22.5 2 - 35 0.3 25 - 35 
 - - Clothing  251 35.0 35 - 35 0.0 35 - 35 
 - - Leather, rubber, footwear 
and travel articles  234 15.2 0 - 35 0.6 35 - 35 
 - - Non-electrical machinery  1,133  11.1 0 - 35 0.6 25 - 35 
 - - Electrical machinery  614 10.4 0 - 35 0.8 25 - 35 
 - - Transport equipment  217 18.5 0 - 35 0.6 5 - 35 
 - - Non-agricultural products 
 n.e.s.  679 14.1 0 - 35 0.6 10 - 35 
 - Petroleum  27 0.4 0 - 6 3.6 32.5 - 35 
By HS section       
 01 Live animals; animal 
products  520 9.4 0 - 28 0.5 3.8 - 35 
 02 Vegetable products  411 7.9 0 - 35 0.5 0 - 35 
 03 Fats and oils  74 10.8 2 - 33.4 0.5 20 - 35 
 04 Prepared foodstuffs, etc.  315 15.4 2 - 35 0.3 20 - 35 
 05 Mineral products  209 2.4 0 - 6 0.8 27.5 - 35 
 06 Products of the chemical or 
allied industries  3,034  6.6 0 - 35 0.8 10 - 35 
 07 Plastics and rubber  429 11.2 0 - 35 0.6 20 - 35 
 08 Raw hides and skins, leather  113 11.5 2 - 35 0.6 27.5 - 35 
 09 Wood and articles of wood  157 8.1 0 - 35 0.6 12 - 35 
 10 Pulp of wood, paper, etc.  222 11.2 0 - 16 0.5 27.5 - 35 
 11 Textiles and textile articles  1,056  25.3 2 - 35 0.3 35 - 35 
 12 Footwear, headgear  70 25.3 16 - 35 0.3 35 - 35 
 13 Articles of stone  217 11.0 0 - 35 0.5 17.5 - 35 
 14 Precious stones, etc.  64 9.9 0 - 35 0.7 35 - 35 
 15 Base metals and articles of 
base metal  738 11.7 0 - 35 0.5 15 - 35 
 16 Machinery and mechanical 
appliances  1,774  10.9 0 - 35 0.7 25 - 35 
 17 Vehicles, aircraft, vessels 
and associated transport 
equipment  230 18.0 0 - 35 0.7 5 - 35 
 18 Precision instruments  450 12.3 0 - 35 0.6 10 - 35 
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  Product description  Number 
of lines  Average 
(%) Range 
(%) Coefficient of 
variation (CV)  Rangea 
(%) 
 20 Miscellaneous manufactured 
articles  165 20.3 0 - 35 0.3 35 - 35 
 21 Works of art, etc.  7 4.0 4 - 4 0.0 35 - 35 
a As the bound rates correspond to the HS 2002 classification and the applied rates to HS 2017, there 
may be a difference in the number of lines included in the analysis.  
CV Coefficient of variation  
Source:  WTO Secretariat calculations based on data provided by the authorities.  
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 Table A3. 2 Summary analysis of export duties, 2020 -21 
Product description  Decree No.  230/2020  Decree No.  789/2020  Decree No.  1060/2020  
Number 
of lines  Average 
(%) Range 
(%) Number 
of lines  Average 
(%) Range 
(%) Number 
of lines  Average 
(%) Range 
(%) 
Total  10,226  11.7 5 - 33 10,260  6.5 0 - 33 10,273  2.9 0 - 33 
By WTO category           
Agricultural products  1,047  10.7 5 - 33 1,060  10.5 3 - 33 1,064  4.0 0 - 33 
 - Animals and animal products  133 7.1 5 - 12 138 7.0 5 - 12 138 5.4 0 - 9 
 - Dairy products  37 12.0 12 - 12 37 12.0 12 - 12 37 5.7 4.5 - 9 
 - Fruit, vegetables and garden 
produce  280 11.3 5 - 12 287 11.3 5 - 12 289 1.4 0 - 5 
 - Coffee and tea  30 12.0 12 - 12 30 12.0 12 - 12 30 3.3 0 - 4.5 
 - Cereals and cereal preparations  140 10.8 5 - 12 140 10.8 5 - 12 140 5.0 0 - 12 
 - Oilseeds, fats and oils and 
products thereof  125 11.3 5 - 33 126 11.3 5 - 33 126 5.8 0 - 33 
 - Sugar and confectionery  23 12.0 12 - 12 23 12.0 12 - 12 23 4.5 4.5 - 4.5 
 - Beverages, alcohol and tobacco  73 12.0 12 - 12 73 12.0 12 - 12 75 4.5 0 - 12 
 - Cotton  7 11.0 5 - 12 7 11.0 5 - 12 7 5.6 4.5 - 12 
 - Other agricultural products 
n.e.s.  199 11.0 5 - 24 199 10.0 3 - 22.5 199 4.3 0 - 21.5 
Non-agricultural products 
(including petroleum)  9,179  11.8 5 - 30 9,200  6.0 0 - 30 9,209  2.8 0 - 29 
 - Non-agricultural products
 (excluding petroleum)  9,152  11.8 5 - 30 9,173  6.0 0 - 30 9,182  2.8 0 - 29 
 - - Fish and fish products  366 7.9 5 - 12 366 7.9 5 - 12 366 6.1 0 - 9 
 - - Mineral products and metals  1,218  12.0 12 - 12 1,218  8.1 0 - 12 1,218  3.5 0 - 16.5 
 - - Chemicals and photographic 
products  3,212  12.0 12 - 30 3,222  9.5 0 - 30 3,230  3.7 0 - 29 
 - - Wood, wood pulp, paper and 
furniture  406 11.5 5 - 12 406 4.7 0 - 12 406 3.0 0 - 24.5 
 - - Textiles  832 12.0 12 - 12 834 5.5 0 - 12 834 2.6 0 - 4.5 
 - - Clothing  251 12.0 12 - 12 251 0.0 0 - 0 251 0.0 0 - 0 
 - - Leather, rubber, footwear and 
travel articles  234 12.0 12 - 12 234 7.1 0 - 12 234 2.9 0 - 4.5 
 - - Non-electrical machinery  1,132  12.0 12 - 12 1,133  0.8 0 - 3 1,133  0.8 0 - 3 
 - - Electrical machinery  606 12.0 12 - 12 614 1.5 0 - 12 614 1.4 0 - 4.5 
 - - Transport equipment  216 12.0 12 - 12 216 4.3 0 - 12 217 2.3 0 - 4.5 
 - - Non-agricultural products 
 n.e.s.  679 12.0 12 - 12 679 0.9 0 - 12 679 0.8 0 - 16.5 
 - Petroleum  27 12.0 12 - 12 27 12.0 12 - 12 27 8.4 8 - 12 
By HS section           
 01 Live animals; animal products  515 7.7 5 - 12 520 7.7 5 - 12 520 6.0 0 - 9 
 02 Vegetable products  404 11.1 5 - 33 411 11.1 5 - 33 411 2.7 0 - 33 
 03 Fats and oils  74 10.9 5 - 33 74 10.9 5 - 33 74 5.5 0 - 31 
 04 Prepared foodstuffs, etc.  311 11.6 5 - 33 311 11.6 5 - 33 315 4.6 0 - 31 
 05 Mineral products  207 12.0 12 - 12 209 12.0 8 - 12 209 6.3 4.5 - 16.5 
 06 Products of the chemical or 
allied industries  3,020  12.0 12 - 30 3,030  9.5 0 - 30 3,034  3.7 0 - 29 
 07 Plastics and rubber  424 12.0 12 - 12 425 8.3 0 - 12 429 3.6 0 - 4.5 
 08 Raw hides and skins, leather  113 12.0 12 - 12 113 9.1 0 - 12 113 3.2 0 - 4.5 
 09 Wood and articles of wood  157 10.8 5 - 12 157 8.0 0 - 12 157 3.7 0 - 14.5 
 10 Pulp of wood, paper, etc.  222 12.0 12 - 12 222 2.9 0 - 12 222 2.8 0 - 24.5 
 11 Textiles and textile articles  1,055  12.0 5 - 12 1,056  4.6 0 - 12 1,056  2.1 0 - 12 
 12 Footwear, headgear  70 12.0 12 - 12 70 0.8 0 - 12 70 0.7 0 - 4.5 
 13 Articles of stone  217 12.0 12 - 12 217 2.8 0 - 12 217 2.7 0 - 4.5 
 14 Precious stones, etc.  64 12.0 12 - 12 64 8.5 0 - 12 64 3.7 0 - 12 
 15 Base metals and articles of 
base metal  739 12.0 12 - 12 738 8.4 0 - 12 738 3.1 0 - 12 
 16 Machinery and mechanical 
appliances  1,765  12.0 12 - 12 1,774  1.1 0 - 12 1,774  1.0 0 - 4.5 
 17 Vehicles, aircraft, vessels and 
associated transport equipment  229 12.0 12 - 12 229 4.1 0 - 12 230 2.2 0 - 4.5 
 18 Precision instruments  450 12.0 12 - 12 450 0.8 0 - 3 450 0.7 0 - 3 
 19 Arms and ammunition  18 12.0 12 - 12 18 0.7 0 - 3 18 0.7 0 - 3 
 20 Miscellaneous manufactured 
articles  165 12.0 12 - 12 165 0.9 0 - 3 165 0.7 0 - 3 
 21 Works of art, etc.  7 12.0 12 - 12 7 0.0 0 - 0 7 0.0 0 - 0 
Source:  WTO Secretariat calculations based on the Official Journal ( Boletín Oficial ). Viewed at: 
https://www.boletinoficial.gob.ar/estatica/prodyserv . 
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  Table A3. 3 Definitive anti -dumping duties at 1  March  2021  
PRODUCT  MCN HEADING  ORIGIN  MEASURE  EXPIRY  
Fungicides (D 
review)  3808.92.91  United States, 
Chile Ad valorem  duty Chile: 7.76% for QUIMETAL 
INDUSTRIAL S.A and 61.04% for others. United 
States: 40.55%.  (1) 16/10/2019  
Lawn-tennis balls 
(D review CC)  9506.61.00  Thailand, 
Philippines, 
China  Specific duty according to product and origin, from 
USD 0.12 to USD  0.52 per unit.  (2) 22/01/2020  
Helicoidal drills (D 
review)  8207.50.11, 8207.50.19  China  Minimum f.o.b. export value from USD  39.66 to 
USD 563.63 per kg, according to product and 
measure.  (1) 27/01/2020  
Electric pumps, 
non-self-priming (D 
review)  8413.70.80, 8413.70.90  China  Specific duty of between USD  90.70 and 
USD 278.30 per unit, according to product type.  (1) 17/04/2020  
Electric smoothing 
irons (D review)  8516.40.00  China  Duty of USD 13.22 per unit for electric dry irons 
and USD  15.41 per unit for electric steam irons.  (1) 17/04/2020  
Bicycles (D review 
CC) 8712.00.10, 8714.91.00, 
8411.50.00, 8413.20.00, 
8714.92.00, 8714.93.10, 
8714.94.90, 8714.95.00, 
8714.96.00, 8714.99.90  China, Chinese 
Taipei  Minimum f.o.b. export value, according to wheel 
size, part and origin.  (2) 11/05/2020  
Insulators of 
porcelain (D 
review)  8546.20.00  Colombia, 
China, Brazil  Ad valorem  duty Brazil: 70.97%; China: 227.74%; 
Colombia: 21.39%.  (1) 05/06/2020  
Universal joints and 
tripod joints (D 
review)  8708.99.90  China  Specific duty: USD  11.09 (universal joints) and 
USD 16.02 (tripod joints) per kg.  (1) 06/07/2020  
Pneumatic tyres for 
bicycles (D review 
CC) 4011.50.00  Thailand, 
Indonesia, 
China  Minimum f.o.b. export value. China: USD  5.72 per 
kg. Thailand: USD  4.67 per kg.  Indonesia: 
USD 3.99 per kg.  (2) 17/09/2020  
Water pumps (D 
review)  8413.30.90  China  Ad valorem  duty of 246%.  (1) 18 /09/2020  
Electrical 
connection 
terminals (D 
review)  8536.10.00, 8536.50.90, 
8536.90.90  China, Germany  Ad valorem  duty Germany: 99% for PHOENIX 
CONTACT GMBH & CO. KG, and 138% for others. 
China: 208%.  (1) 18/09/2020  
Tableware and 
kitchenware (D 
review)  6911.10.10, 6911.10.90, 
6911.90.00, 6912.00.00  China  Specific duty of USD  3.71 per kg.  (1) 24/09/2020  
Steel butt -welded 
pipe fittings (D 
review)  7307.19.20, 7307.93.00  China  Minimum f.o.b. export value of USD  4.67 per kg.  (1) 15/10/2020  
Electric ironing 
presses (D review)  8451.30.99, 8451.30.91  China  Specific duty of USD  505.21 per unit.  (1) 23/10/2020  
Footwear (D review 
CC) 6401.10.00, 6401.92.00, 
6401.99.10, 6401.99.90, 
6402.19.00, 6402.20.00, 
6402.91.10, 6402.91.90, 
6402.99.10, 6402.99.90, 
6403.19.00, 6403.20.00, 
6403.40.00, 6403.51.10, 
6403.51.90, 6403.59.10, 
6403.59.90, 6403.91.10, 
6403.91.90, 6403. 99.10, 
6403.99.90, 6404.11.00, 
6404.19.00, 6404.20.00, 
6405.10.10, 6405.10.20, 
6405.10.90, 6405.20.00, 
6405.90.00.  China  Minimum f.o.b. export value of USD  13.38 per pair.  (2) 16/12/2020  
Air conditioning 
machines (D 
review)  8415.10.19  Thailand  Ad valorem duty of 85%.  (1) 06/01/2021  
Steel cutlery (D 
review)  8211.10.00, 8211.91.00, 
8215.20.00, 8215.99.10  China, Brazil  Ad valorem  duty China: 146.46%; Brazil: 11.36% 
for Tramontina Farroupilha S.A. Industria 
Metalúrgica, 13.93% for others.  30/03/202 1 
Spectacles (D 
review CC)  9003.11.00, 9003.19.10, 
9003.19.90, 9004.90.10, 
9004.10.00  China  Specific duties from USD  7.10 to USD  9.31 per unit, 
according to product type and maximum f.o.b. 
value, and ad valorem  duties of 154% in all cases  01/04/2021  
Polyester fibres and 
yarns (D review)  5402.33.10, 5402.33.20, 
5402.33.90  China  Ad valorem duty of  14.20%.  17/05/2021  
Ceramic sanitary 
fixtures (D review)  6910.10.00, 6910.90.00  Brazil  Ad valorem duty, according to type of sanitary 
fixture, from 50.98% to 147.40% (differentiated 
margins for DURATEX, from 20.94% to 65.17%).  10/06/2021  
Processors (D 
review)  8509.40.50  China, Brazil  Ad valorem  duty Brazil: 24%. China: 202.79%.  07/07/2021  
Denim fabrics (D 
review CC)  5208.43.00, 5210.49.10, 
5209.42.10, 5209.42.90, 
5211.42.10, 5211.42.90  China  Minimum f.o.b. export value of USD  3.93 per linear 
metre.  07/09/2021  
Motors for 
elevators and 
goods lifts (D 
review)  8425.31.10  China  Ad valorem  duty of 149%.  02/11/2021  
Radial ball bearings 
(D review CC)  8482.10.10, 8282.99.90  China  Minimum f.o.b. export value from USD  6.45 to 
USD 49.30 per kg, according to series and product.  12/11/2021  
Measuring tapes (D 
review CC)  9017.80.10  China  Specific duty of USD  0.57 per linear metre.  15/11/2021  
Air conditioning 
machines (D 
review)  8415.10.11, 8415.10.19, 
8415.90.20, 8415.90.10  China  Minimum f.o.b. export value according to machine 
type and refrigeration power between USD  110.49 
and USD  332.42 per unit.  07/12/2021  
Radiators (D)  8708.9 1.00 China  Ad valorem duty of 187.47%.  07/12/2021  
Screw compressors 
(D review)  8414.80.32, 8414.30.99  Brazil  Ad valorem duty of 33% for MAYEKAWA DO BRASIL 
REFRIGERAÇAO LTDA and 51% for others.  15/03/2022  WT/TPR/S/412 • Argentina  
 
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 PRODUCT  MCN HEADING  ORIGIN  MEASURE  EXPIRY  
Polyethylene 
terephthalate (PET) 
(D) 3907.61.00  Indonesia  Ad valorem  duty of 15.10%.  15/03/2022  
Tube or pipe 
fittings (D review)  7307.19.10, 7307.19.90  China, Brazil  Ad valorem  duty Brazil: 143%. China: JINAN MEIDE 
CASTING COMPANY LTD and QINGDAO HR 
INTERNATIONAL TRADING CO LTD, minimum 
export value of USD  5 per kg upon acceptance of 
price undertaking, other origin 295%.  19/05/2022  
Saw blades of 
high-speed steel 
and of bimetal 
steel (D review)  8202.91.00, 8202.99.90  Sweden  Specific duty of USD  0.28 per unit for the exporting 
firms SNA EUROPE (INDUSTRIES) AB and SNA 
EUROPE (SERVICES) AB.  31/07/2022  
Syringes (D review 
CC) 9018.31.11, 9018.31.19  China  Ad valorem  duty of 59%.  14/8/2022 
Suspended  
Microwave ovens 
(D review CC)  8516.50.00  China  Minimum f.o.b. export value from USD 74.40 to 
USD 118.56 per unit, according to capacity.  03/09/2022  
Saw blades of 
high-speed steel (D 
review)  8202.91.00, 8202.99.90  China  Specific duty of USD  0.46 per unit.  06/09/2022  
Heating apparatus 
(D review CC)  8516.29.00  China  Ad valorem  duty of  378%.  06/11/2022  
Balloons (D)  9503.00.99  
9505.90.00  China  Ad valorem  duty of 97%.  24/11/2022  
Fans (D review CC)  8414.51.10  
8414.51.90  
8414.59.90  China  Ad valorem  duty of 164%.  01/12/2022  
Alloy wheels (D)  8708.70.90  China  Ad valorem  duty of 36.90%.  05/01/2023  
Porcellanato (D 
review CC)  6907.21.00  India, Malaysia, 
Viet Nam, 
Brazil, China  Ad valorem  duty. 
India: 75.08%; Malaysia: 32%; Viet Nam: 31.15%; 
Brazil: 10.06% for Cerámica Villagrés Ltd., 48.2% 
for others.  
China: Price undertaking of Foshan Junjing 
Industrial Co. Ltd. (minimum f.o.b. export value of 
USD 11.30 and USD  13.80 per m2, according to 
product type), ad valorem  duty of 27.7% for 
others.  16/02/2023  
Dish washing 
machines (D)  8422.11.00  China, Turkey  Ad valorem duty. China: 54%. Turkey: 33%  23/04/2023  
Air conditioning 
machines (D 
review)  8415.10.19  Thailand  Ad valorem  duty of 85%  (1) 06/01/2021  
Steel cutlery with 
plastic or wooden 
handles (D)  8211.10.00, 8211.91.00, 
8215.20.00, 8215.99.10  China, Brazil  Ad valorem duty. 
China: 48%; Brazil: 5.37% for TRAMONTINA S.A. 
CUTELARIA; 47.19% for others.  26/04/2023  
Saw blades of 
high-speed steel (D 
review CC)  8202.91.00, 8202.99.90  India Specific duty of USD  0.13 per unit.  24/05/2023  
Seamed or 
seamless steel pipe 
(D) 7304.19.00, 7306.19.00  China  Ad valorem duty of 26%.  25/05/2023  
Hand-operated 
mixers, blenders 
and processors (D)  8509.40.50, 8509.40.20,  
8509.40.10  China  Ad valorem  duty of 115.75% when f.o.b. price per 
unit is <= USD  17.28, or specific duty of USD 20 
per unit when it exceeds USD  17.28.  05/06/2023  
Glass wool (D 
review)  7019.39.00  Mexico  Ad valorem duty of 67%.  13/09/2023  
DOP (D)  2917.32.00  Korea  Ad valorem duty of 6.73%.  04/10/2023  
Porcellanato (D 
review CC)  6907.90.00  China  Ad valorem duty of 27.7%.  28/11/2023  
Single -phase 
motors (D review 
CC) 8501.40.19  China  Ad valorem duty of 40%.  12/12/2023  
Hand pincers (D)  8203.20.90  China, India  Ad valorem duty of 39%.  01/03/2024  
Stainless steel 
vacuum flasks; 
vacuum flasks with 
glass inners (D 
review CC)  9617.00.10  China  Minimum f.o.b. export value of USD  15 per kg for 
stainless steel vacuum flasks and USD  4.82 per unit 
for vacuum flasks with glass inners.  15/04/2024  
Motorcycle 
shock -absorbers 
(D) 8714.10.00, 8714.99.90  China  Ad valorem  duty of 34.18%.  22/04/2024  
Zinc oxide (D)  2817.00.10  Brazil, Peru  Ad valorem duty: Brazil: 4.84% for NEXA 
RECURSOS MINERAIS S.A., formerly VOTORANTIM 
METAIS ZINCO S.A., and 59.52% for others.  
Peru: 3.30% for ZINC INDUSTRIAS NAC IONALES 
S.A. and 24.15% for others.  09/05/2024  
Denim fabrics (D)  5209.49.00, 5211.49.00  China  Minimum f.o.b. export value of USD  3.23 per linear 
metre.  16/08/2024  
Polyethylene 
terephthalate (PET) 
(D review CC)  3907.61.00  India, Korea, 
China  Ad valorem duty: Korea: 17.61%; China: 16%; 
India: 3.35% for DHUNSERI PETROCHEM & TEA 
LTD and 12% for others.  22/10/2022  
Parenteral solutions  3004.90.99  Brazil, Mexico  Definitive specific duty. Brazil: USD  0.21 and 
USD 0.31 per unit. Mexico: USD  0.11 and USD 0.16 
per unit.  2/12/2022 
Suspended  
Self-adhesive film 
(D review CC)  3919.10.10, 3919.10.20, 
3919.10.90, 3919.90.10, 
3919.90.20, 3919.90.90, 
4811.41.10, 4811.41.90  Chile Ad valorem duty: RITRAMA S.A.: 7.06%. Other 
exporters: 42%.  29/11/2024  
Polyester resins (D)  3907.91.00  Brazil  Ad valorem  duty of 12.22%.  20/11/2024  
Three -phase 
transformers (D 
review CC)  8504.23.00  Brazil, China, 
Korea  Ad valorem  duty and price undertaking. Brazil: 
GRID SOLUTIONS TRANSMISSAO DE ENERGIA 
ELETRICA LTDA. and TRA NSFORMADORES E 
SERVICIOS DE ENERGIA DAS AMERICAS S.A.: 22/11/2024  WT/TPR/S/412 • Argentina  
 
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  PRODUCT  MCN HEADING  ORIGIN  MEASURE  EXPIRY  
USD 8, USD  8.35 and USD  8.50 per kg according to 
product, upon acceptance of price undertaking, 
other origin 38%. China: 54%. Korea: 52%.  
Radiators (D)  7615.10.00  China, Spain, 
Italy Ad valorem duty. China: 87%. Spain: 66%. Italy: 
RADIATORI  2000 SPA, USD  6.35 per unit, upon 
acceptance of price undertaking, other origin 75%.  22/11/2024  
Steel wheels (D)  8708.70.90, 8716.90.90  China  Ad valorem  duty of 41.78%  09/12/2024  
Aluminium discs 
(D) 7606.91.00, 7606.92.00  China  Ad valorem  duty of 80.14%.  26/02/2025  
Aluminium foil (D)  7607.11.90  China  Ad valorem  duty of 28%.  09/03/2025  
Boilers (D)  8403.10.10.  Italy, Slovakia  Ad valorem  duty: Italy: 57%. Slovakia: 24%.  25/03/2025  
PVC profiles (D 
review)  3916.20.00  China  Specific duty of USD  0.88 per kg.  26/03/2025  
Mixtures (D)  3824.78.10, 3824.78.90  China  Ad valorem  duty of 7% for mixtures containing 
tetrafluoroethane and pentafluoroethane and 23% 
for mixtures containing difluoromethane and 
pentafluoroethane.  19/08/2025  
Polyethylene 
terephthalate (PET) 
(D) 3907.61.00  Oman  Ad valorem duty: 9.57% for OCTAL SAOC FZC an d 
10.27% for other exporters in Oman.  15/10/2025  
Machines for 
welding (D)  8515.31.90, 8515.39.00  China  Ad valorem duty: 0% for machines and apparatus 
for submerged arc welding (SAW) and three -phase 
and inverter -type machines and apparatus. 94.39% 
for othe r welding machines and apparatus. Price 
undertaking for six firms.  23/10/2025  
Washing machine 
motors (D)  8501.10.29, 8501.10.30, 
8501.20.00, 8501.40.19  China  Ad valorem duty: 46% for single -phase AC motors; 
30% for universal electric motors.  23/10/2025  
Aluminium tubes 
and pipes (D)  7608.10.00, 7608.20.90  Brazil, China  Ad valorem duty: China: 75.52%. Brazil: 16.46%  06/11/2025  
Electric ovens (D)  8516.60.00  China  Anti-dumping duty of USD  10.37 and USD  11.64 
per unit, according to product.  10/12 /2025  
Ceramic tiles (D 
review CC)  7016.10.00, 7016.90.00  China  Specific duty of USD  11.42 per m2. 31/12/2025  
Tricycles  9503.00.10.  China  Ad valorem duty of 30.21%.  28/01/2026  
Gloves  6116.10.00  China, India, 
Bangladesh, Sri 
Lanka, Malaysia  Ad valorem duty of 42% for China, Bangladesh, Sri 
Lanka and Malaysia; 35.06% for India.  04/02/2026  
Measuring tapes  9017.80.10  India Provisional specific anti -dumping duty of USD  0.56 
per linear metre.  03/06/2021  
(1) Expiry review ongoing. Continued application of measure for duration of review.  
(2) Expiry and changed circumstances review ongoing. Continued application of measure for duration of 
review.  
Note:  D: dumping.  
 D CC: changed circumstances review.  
Source:  National Foreign Trade Commission. Information from the National Foreign Trade Commission, 
"Medidas Vigentes". Viewed at: 
https://www.argentina.gob.ar/cnce/investigaciones/me didasvigentes . 
__________  