Argentine Ambassador: We Stand in Solidarity with Kuwait in Facing Challenges

Argentine Ambassador to Kuwait, Ramiro Hernán Veloso, affirmed that his country looks forward to strengthening its economic partnership with Kuwait and attracting more Kuwaiti investments into Argentina’s productive sectors. He noted that the Large Investment Incentives System offers significant tax, customs, and monetary advantages to eligible projects, alongside regulatory stability extending up to 30 years.

In an interview with “Al-Nahar,” the ambassador revealed that investment projects valued at nearly $76 billion have received approval under the Large Investment Incentives System, while other projects worth over $120 billion are awaiting approval. He highlighted that Argentina offers promising opportunities in the energy, mining, agricultural industries, infrastructure, and technology sectors.

He clarified that trade between Kuwait and Argentina recorded notable growth in 2025. According to UN Comtrade data, Kuwait’s imports from Argentina reached approximately $142 million, while Argentina’s imports from Kuwait amounted to about $42 million.

He pointed out that food security, biotechnology, healthcare, energy, and mining represent key areas for expanding cooperation, emphasizing that there are untapped potentials in the economic relations between the two countries. He stressed the importance of transitioning from established historical ties to more diversified investment and commercial partnerships.

Below is the text of the interview:

- How do you assess the current relations between Argentina and Kuwait, and what opportunities exist to enhance trade and investment cooperation between the two countries?

- Relations between Argentina and Kuwait are excellent, built on a long history of friendship, mutual respect, and solidarity. Argentina supported Kuwait during the Liberation War of 1990 and 1991 by deploying Argentine naval units to the international coalition. Following Kuwait’s liberation, Argentina continued its commitment to regional peace and security through its participation in the United Nations Iraq-Kuwait Observation Mission (UNIKOM) from 1991 to 2003. More recently, Argentina has reaffirmed its solidarity with Kuwait in the face of regional security challenges witnessed this year. I believe the time has come to strengthen our economic partnership, based on the friendship and mutual trust that unite the two countries. We are already seeing encouraging signs in our trade relations. According to UN Comtrade data, Kuwait’s imports from Argentina reached approximately $142 million in 2025, an increase exceeding 235% compared to the previous year, while Argentina’s imports from Kuwait reached about $42 million, an increase exceeding 300%. These figures reflect growing commercial activity between the two countries, despite the continued existence of significant potential to expand and diversify trade exchanges.

Argentina is one of the world’s major producers and exporters of food, and we see important opportunities to enhance our contribution to Kuwait’s food security by providing a wider range of high-quality agricultural and food products. We are also noticing increasing interest from the Kuwaiti private sector, including companies exploring agricultural production opportunities in Argentina, and the potential of the Patagonia region to provide long-term supplies of sheep and lamb meat.

Kuwaiti Investments

- What efforts is Argentina making to promote its investment opportunities in Kuwait and attract Kuwaiti investors?

- Argentina views Kuwait as a key partner in long-term investment and economic cooperation. Since my arrival in Kuwait in August 2025, I have held meetings with government officials, investment and financial institutions, and business leaders, with the aim of showcasing the investment opportunities available in Argentina and exploring areas of mutual interest. Our country offers significant opportunities in strategic sectors, including energy, mining, agricultural industries, infrastructure, and technology, combining abundant natural resources, substantial production capacity, and promising long-term growth potential. Argentina also enjoys a distinctive geographic position in South America, a region with a long history of peaceful relations among its countries, as well as direct access to the Atlantic Ocean. Amid global uncertainty, these attributes give our country additional appeal to investors seeking to diversify their investment locations and secure reliable, long-term supplies of energy, food, and critical minerals.

Argentina also pursues an ambitious agenda to liberalize international trade and enhance economic integration. Key milestones include the trade agreement between the European Union and the Mercosur bloc, which comprises Argentina, Brazil, Paraguay, and Uruguay, as well as the Mutual Trade and Investment Agreement signed with the United States in February 2026. Additionally, Argentina is working on trade agreements with other international partners. The country has already attracted strategic investments from other Gulf states. Saudi Arabia has invested in agricultural production, contributing to its food security objectives, while the United Arab Emirates has strengthened its presence in port logistics services and expressed interest in Argentina’s energy sector, including the development of liquefied natural gas (LNG) projects. Qatar has also participated in investments in the agricultural industries sector. These experiences underscore Argentina’s attractiveness to Gulf investors, particularly in sectors of strategic importance to the region.

Beyond direct investment, major projects being developed in Argentina offer opportunities for Kuwaiti financial institutions and investment funds through project financing, private equity investments, and other investment instruments. I believe there are still significant untapped potential in our economic relations. My objective extends beyond promoting Argentina as an investment destination; it also includes fostering practical partnerships between Kuwaiti investors and Argentine companies. The embassy is ready to facilitate communication and support initiatives that bring the business communities of both countries closer together.

Incentives and Guarantees: What specific incentives or advantages does the Argentine government offer to foreign investors, particularly Kuwaiti investors?

Argentina has introduced a new framework to encourage major long-term investments. The Large Investment Incentives regime is one of the key tools in this regard, providing eligible projects with tax and customs benefits, foreign exchange advantages, and regulatory stability for 30 years. It also allows access to international dispute settlement mechanisms, offering greater predictability and legal certainty for major foreign investments. Argentina has also implemented reforms aimed at easing foreign exchange restrictions and facilitating the repatriation of profits abroad.

These measures take on particular importance in sectors requiring substantial capital, such as energy, mining, and infrastructure. Under the large-scale investment incentive system, investment projects valued at approximately $76 billion have received approval, while additional projects worth over $120 billion are awaiting approval. These figures reflect the significant investment interest in Argentina, particularly in the energy and mining sectors. The government is also working to enhance private sector participation in infrastructure development, concession projects, and strategic investment partnerships. These incentives and opportunities are available to qualified foreign investors, including Kuwaiti companies and financial institutions, offering attractive prospects for diversifying international investments and participating in major production projects. We welcome increased participation by Kuwaiti investors in Argentina’s economic development and look forward to exploring concrete cooperation opportunities with them.

Kuwait Investment Fund: How do you assess the current volume of Kuwaiti investments in Argentina?

Kuwait is a significant international investor with extensive experience in managing long-term investments across diverse markets and sectors. I do not currently have updated, documented figures on the volume of Kuwaiti investments in Argentina, but I believe there is considerable potential to increase investment flows between our two countries. Kuwait has an important history of supporting development in Argentina through the Kuwait Fund for Arab Economic Development, which has provided financing exceeding $250 million for infrastructure projects, particularly in the water and sanitation sectors. Although the nature of this financing differs from foreign direct investment, it reflects the depth of the longstanding economic cooperation between the two countries. I believe we now have an opportunity to build on this foundation and open a new chapter in our economic relations by encouraging Kuwaiti investors to increase their participation in Argentina’s productive sectors. The energy, mining, agricultural industries, and infrastructure sectors offer promising opportunities for long-term investments and strategic partnerships.

Technology and Healthcare: What other sectors could serve as a focus for economic and investment cooperation between the two countries?

- Biotechnology represents a particularly promising field, as Argentina has developed significant capabilities in two strategic sectors for Kuwait: food security and healthcare. In the agricultural sector, Argentine biotechnology offers solutions to enhance productivity, strengthen crops’ resilience to challenges, improve livestock health, and support more sustainable food production. In the healthcare sector, Argentina possesses internationally recognized expertise in biopharmaceuticals, biosimilars, vaccines, and medical research. These capabilities can pave the way for technology transfer, joint research, investment, and the development of partnerships between Argentine and Kuwaiti institutions and companies. We also see important opportunities to diversify Argentine exports to include pharmaceuticals, medical equipment, technology, and other value-added products and services. At the same time, Kuwait’s investment expertise and Argentina’s production capacities provide a strong foundation for partnerships in the energy, mining, infrastructure, and agricultural industries. Financial cooperation represents another promising area, and we look forward to strengthening ties between the financial markets of both countries, including the exchange of expertise in financial technology, investment tools, and integration with international markets. Such cooperation could facilitate the flow of investments and create new opportunities for financial institutions. I also welcome increased direct engagement between business communities through trade delegations, investment presentations, and sector-specific meetings.

Enhancing Tourism – Is there potential to establish a direct flight route between Argentina and Kuwait to facilitate travel, tourism, trade, and business exchanges?

- The establishment of a direct air link between Argentina and Kuwait would certainly be a welcome development, as improved air connectivity can play a key role in boosting tourism, trade, investment, and exchanges between business communities. Although I am not aware of specific plans at present to launch this service, I believe there is significant potential to expand travel flows and commercial ties between our two countries. Argentina offers Kuwaiti visitors diverse and exceptional tourism experiences, ranging from the stunning landscapes of Patagonia and the Iguazu Falls, to the Andes mountains in Mendoza, and the vibrant capital city of Buenos Aires. Visitors can also enjoy Argentina’s world-renowned cuisine, the Argentine passion for football, and the tango, one of the most prominent symbols of our national culture. The importance of air connectivity extends beyond tourism; it also facilitates business travel and the transport of high-value products, particularly fresh and perishable goods. Currently, enhancing connectivity through existing international aviation hubs can help bridge the distance between our two countries. I welcome any initiative that encourages greater exchange between our peoples and business communities, helping to fully realize the economic and tourism potential of our bilateral relations.

A New Phase of Partnership – What is your message to the Kuwaiti business community and investors interested in exploring the Argentine market?

Argentina and Kuwait have built long-standing relations based on friendship, mutual respect, and trust, and I believe we now have an excellent opportunity to translate these strong ties into closer economic cooperation, greater investments, and tangible benefits for both countries. We look forward to enhancing the participation of Kuwaiti investors in Argentina’s productive sectors, developing partnerships between businesses and financial institutions, and leveraging the opportunities offered by projects in energy, mining, agriculture, infrastructure, and biotechnology. The embassy will continue to facilitate communication between the two sides and support initiatives that enable businessmen and investors to identify available opportunities and explore joint ventures. Our goal is to elevate economic relations to a level commensurate with the depth of the historical friendship between Argentina and Kuwait, and to build sustainable partnerships that serve mutual interests and open new horizons for future cooperation.