The Government went to look for investment in the Middle East but came back empty-handed

The tour to Dubai, led by Foreign Minister Santiago Cafiero, did not give the expected results, despite the large delegation that was part of the official delegation. Alberto Fernández spoke of a billion dollar investment in infrastructure through social media, but the reality would be very different from what the president expressed.

Missions to the Middle East had intricacies of entry. Alberto Fernandez got off almost at the last minute and most of the meetings scheduled with the UAE sheikh were interrupted. This caused the agenda to be restructured at the last minute.

Also, part of the tour, including Saudi Arabia, which was scheduled after participation in the Dubai Expo dedicated to Argentina, was suspended. Without any explanation, it was finally decided not to include that destination, and the mission ended ahead of schedule.

The Persian Gulf country is one of the largest international investors on the planet on the basis of a sovereign wealth fund formed from billionaire oil resources. An investment corporation in Dubai, for example, manages $300 billion worth of assets. Similar figures are handled by the Qatar Investment Authority.

In Dubai, the Argentine authorities were confident that there would be at least US$1.3 billion that could be used immediately for direct investment in Argentina. As Infobae learned, the Arabs showed interest in three main areas of Argentina's economy: energy, food and pharmaceuticals. However, in order to dump resources through certain means, they have been asking the government for legislative approval of an investment protection treaty signed between Argentina and the United Arab Emirates in 2018. The UAE has Dubai as its most important emirate.

This treaty gives special status to the country's investments and opens the door to international tribunals in the event of disputes and breaches of contracts. However, Argentina made it clear that there is no possibility of granting legislative recognition to the treaty, as long as it maintains its terms. The shake's reaction began shortly after. “Under these circumstances, we can't put a dollar into the country.”

According to the Foreign Ministry, the objective of the tour was to “position the country as a relevant subject in the field of energy transition, space science, biotechnology and information and communication technology.”

Gerardo Zamora (Santiago del Estero), Raul Jalil (Catamarca), Jorge Capitanic (Chaco), Gerardo Morales Several governors also visited, including (Jujuy) and Ricardo Quintera (La Rioja). Also in part of the delegation were the Minister of Production and Development, Matthias Kurfus, Scientific and Technological Innovation, Daniel Films, Tourism and Sports, Matthias Rammens, The Secretary of International Economic Relations, Cecilia Todesca Bocco, and the Minister of Tourism Promotion, Janina, also participated. Martínez; President of the Cabinet of the Ministry of Foreign Affairs, Luciana Tito, Secretary General of the Federal Investment Council, Ignacio Ramos, and representatives of various companies.

Thus, the tour to the Middle East ended with mostly positive news for Argentina, which continues to miss opportunities to open its markets and secure real investment. The decision of the president to withdraw from the trip at the last minute is also critical, given that a little over a month ago he decided to meet with Vladimir Putin. At that time, at the end of January, the danger of the Russian invasion of Ukraine was already clear, and at the end of February it was unleashed.

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