The government went to look for investment in the Middle East, but returned empty-handed.

The tour, led by Foreign Minister Santiago Cabero to Dubai, did not achieve the expected results despite the large delegation that was part of the official delegation. Alberto Fernández invested about $1 billion in infrastructure through social media, but the reality would be very different from what the president expressed.

The mission to the Middle East was suffering from complications of entry. Alberto Fernández started at the last minute, and most of his scheduled meetings with the UAE elders were suspended. This resulted in a reorganization of the last-minute agenda.

In addition, after the participation of the Dubai Expo, which was dedicated to Argentina, part of the planned tour including Saudi Arabia was suspended. Without explanation, it was ultimately decided not to include the destination, and the work ended ahead of schedule.

The Persian Gulf country is one of the largest international investors on the planet, based on a national wealth fund consisting of millionaire oil resources. For example, an investment firm in Dubai manages $300 billion worth of assets. The Qatar Investment Authority (QIA) handles similar figures.

In Dubai, Argentine officials have confirmed that there is at least $1.3 billion that can be used immediately to invest directly in Argentina. As Infobae learned, the Arabs expressed interest in three main areas of the Argentine economy: energy, food and medicine. However, in order to unload resources through certain vehicles, they asked the government to approve the legislative approval of the Investment Protection Treaty signed in 2018 between Argentina and the United Arab Emirates, and the most important emirate is Dubai.

This treaty gives the country's investments a special status and opens the door to international courts in the event of a dispute or breach of contract. However, Argentina has made it clear that there is no possibility of granting legislative approval to the treaty as long as it maintains its conditions.The response of the elders did not take long. “Under these circumstances, we can't put a dollar in that country.”

According to the State Department, the purpose of the tour was to “position the country as a relevant actor in the fields of energy transmission, space science, biotechnology and information and communication technologies.”

Some rulers also traveled, such as Gerardo Zamora (Santiago del Estero), Raúl Jalil (Catamarca), Jorge Capitanich (Chaco), Gerardo Morales (Peach), Ricardo Quintla (La Rioja). Matthias Kulvas, Minister of Production and Development; Science, Technology and Innovation, Daniel Films; Tourism and Sports; Matthias Ramen S; Minister of International Economic Relations, Cecilia Todesca Poco; Tourism Promotion, Janina Martinez, Director, Director Cabinet of Foreign Minister Luciana Tito; Secretary-General of the Federal Investment Commission, Representative Ignacio Ramot and other companies.

Therefore, the trip to the Middle East had few positive news about Argentina and still missed the opportunity to open up the market and secure real investments. Considering that the president decided to meet Vladimir Putin a month ago, the president's decision to withdraw from the trip at the last moment is very important. At that time, at the end of January, the risk of Russia's invasion of Ukraine was already clear, which was triggered by the end of February.

Keep reading:

.

.