The United States could soon suspend trade benefits for Argentina because of that country’s failure to pay awards in two long-running investment disputes with U.S. companies, a U.S. trade official said on Monday.
Argentina has never threatened to quit ICSID. Its government insists it is open to honouring the awards. The only delay, it says, is that the claimants have not brought their rulings to a local court for collection.
Argentina’s controversial new import restrictions came into effect on Wednesday as part of the legislation on the trading sector which gives the government bureaucracy more powers to control and restrict imports.
Argentina hopes to start exporting corn to China in a few months but is still finalizing details of a bilateral market access agreement, a senior Argentinian official said Thursday.
Argentina became the last of five South American countries to sign onto a regional free trade agreement with Israel.
Argentina ratified this week the free trade agreement reached between Mercosur and Israel, the first to be signed by the South American block with an outer zone party.
Azurix Corp plans to ask the Obama administration for help in recovering more than $230 million it says it is owned by the government of Argentina. It would be the first time a US company has used the "Section 301" trade law to pressure a foreign government to pay an award decided by an arbitrator in an investment dispute.
The European Union’s top trade negotiator, Karel de Gucht, accused Argentina of being “the great obstacle” in an association agreement between the EU and the Mercosur, and threatened to take the case before the WTO.
Although in public former Argentine president Nestor Kirchner was supportive of Uruguay’s negotiations for a free trade agreement (FTA) with the United States, members of his cabinet warned the US embassy in Buenos Aires that Argentina would block such an initiative in Mercosur, according to the contents of several Wikileaks cables published in Montevideo and Buenos Aires.
Member nations of Mercosur will seek to boost economic and political ties with Cuba in a bid to make the communist island an associate member of the South American trade bloc.
French media conglomerate Vivendi (VIV.FR) Tuesday said the International Centre for Settlement of Investment Disputes, or ICSID, reaffirmed its original ruling and financial award in favour of the company in a long-running dispute with Argentina.
The International Center for Settlement of Investment Disputes, or Icsid, dismissed the claims lodged by Enron Creditors Recovery Corp and Ponderosa Assets L.P. late Friday.
A committee of the International Centre for Settlement of Investment Disputes (ICSID) ruled in favour of Argentina and cancelled a decision by which it had been condemned to pay more than US$106 million to shareholding companies of the local Southern Gas Conveyor (TGS)
Brazil’s ambassador to Buenos Aires was summoned to Argentina’s foreign ministry Tuesday amid rising trade tensions between the two South American economic powers.
Marking a final setback for Argentina in its protracted dispute with US-based water services firm Azurix Corp, on 1 September 2009 an ad hoc committee denied Argentina’s application to annul an ICSID tribunal’s previous decision awarding Azurix approximately US$165 Million for breach of Argentina’s obligations under the US-Argentina Bilateral Investment Treaty.
President Cristina Fernandez de Kirchner qualified agreements signed with Hugo Chavez for “key sectors” such as foodstuffs, energy and technology as “absolutely necessary” and “transcendental for the 21 Century”.
It’s time for the US Department of State to pressure Argentina to comply with its treaty obligations, some lawyers suggest.
As Canadian mining giant Barrick Gold gets ready to start construction at the Pascua Lama mine, straddling the Argentine-Chilean border, activists in Chile are scrambling to block the ambitious mining project while calling for an investigation of supposed irregularities committed in the approval process.
Argentina has refused calls by Siemens to suspend proceedings at the International Centre for the Settlement of Investment Disputes (ICSID) in which a committee is considering Argentina’s request to revise a 2007 award, following the admission by the German firm that it had bribed Argentinean officials.
Mercosur presidential summit next week in Brazil has on the table an agenda of several highly sensitive issues that could deepen the rift between senior members Argentina and Brazil and junior members Paraguay and Uruguay, according to Uruguayan parliamentary sources.