Milei urges European investors to invest in Argentina’s energy sector — Buenos Aires Times

Argentine President Javier Milei, during the Argentina Week investment event in Paris, France, called on European investors to invest in the country’s energy sector and the extraction of critical minerals. As Buenos Aires Times reports, he said that Argentina could supply Europe with significant volumes of energy from a peaceful region far from conflict zones.

Energy and minerals

Milei spoke at the headquarters of the Organisation for Economic Co-operation and Development before diplomats and business representatives. He arrived in the French capital with a large delegation of ministers and governors of Argentine provinces.

The president highlighted Argentina’s reserves of copper, lithium and uranium, and also said there was legal certainty for mining companies. He also described Argentina’s agricultural sector as competitive and said it was not an “enemy” of European farmers. This came amid opposition in Europe to the large-scale trade agreement between Mercosur and the European Union.

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Economic policy and elections

During his hour-long speech, Milei defended the results of three years of austerity policies and expressed optimism about his victory in the 2027 presidential election, in which he is seeking re-election for a second term. He also said that his government would not change its economic course or increase public spending ahead of the election.

According to the publication, since Milei took office in late 2023, annual inflation in Argentina has fallen from 161% to 33%, public finances have been balanced, and foreign currency reserves have partially recovered. At the same time, in the first half of the year, the poverty rate rose to nearly one-third of the population, while the economy contracted by 0.6% in April-June amid declining consumption and investment.

Milei links Argentina’s investment opportunities to disruptions in hydrocarbon supplies to Europe following the invasion of Ukraine by the Russian Federation, an aggressor state, and the war in the Middle East. He also said that the previous Argentina Week event had generated investment announcements worth more than US$16 billion.