| Building Business Relationships | | | | strong traditions inherited from Italy, Germany and |
| Business meetings in Argentina need to be carefully | | | | Eastern Europe. After New York, it is the city with the |
| scheduled, with agreed agenda points. Be sure that | | | | largest Jewish presence in the Americas. |
| meetings lead to action, as Argentineans traditionally | | | | However, it is extremely important not to confuse |
| see them almost as social occasions. | | | | Buenos Aires with the whole of Argentina. Although a |
| Also allow time for meeting Argentine contacts outside | | | | third of all Argentines live in greater Buenos Aires, the |
| business hours. A less clear cut distinction is made | | | | Argentine interior is very different with more traditional |
| between work and leisure and the most profitable time | | | | ways and a greater presence of mixed race and |
| with Argentine business people is often spent outside | | | | indigenous traits. |
| the office or factory in restaurants and at barbecues. | | | | Do remember that Argentina is not to be confused |
| Care must be taken to distinguish between what | | | | with the rest of Latin America. The 35 million |
| Argentine firms offer to supply and what they actually | | | | Argentines are as different from Mexicans as British |
| deliver. Argentina shares the Latin American custom of | | | | are from Russians. They share the Spanish language, |
| not wanting to say no, meaning that it will be up to you | | | | but often even that is spoken quite differently. |
| to assess whether or not they can deliver on their | | | | The Business Environment |
| promises. | | | | Argentine industry and business has been going |
| It is important to ensure you give the impression that | | | | through a process of great change in the 1990s. After |
| you are committed to investing and doing business in | | | | being protected and inward-looking for many years, |
| Argentina for the long term, not just on a one-off | | | | Argentine companies are only now beginning to learn |
| occasion. This helps break the vicious circle of | | | | that they must compete nationally and internationally. |
| unfulfilled promises on both sides. | | | | Many local companies contain a mixture of the |
| Government and Law | | | | traditional and the modern - they are often family run |
| Argentines are very proud of the fact that Argentina | | | | and likely to have many more typewriters than |
| now has a working democracy. However, particular | | | | functioning computers! |
| care needs to be taken in any dealings with | | | | Much of the Argentine industry is still based on |
| government officials. Argentina still has a huge amount | | | | agriculture and agricultural products. Companies |
| of bureaucracy and dealing with this takes a lot of | | | | involved in heavy industry, such as automobile |
| time. Corruption at all levels of this bureaucracy is still | | | | manufacturing or construction, are largely foreign |
| rife. | | | | owned. |
| Remember to enlist local expertise for legal matters. | | | | Do take note of the fact that Argentina is now a |
| Due to the recent changes in business as well as the | | | | dynamic part of MERCOSUR regional grouping of |
| many years of government control of industry and | | | | countries. (The other members are Brazil, Paraguay |
| commerce, it is often difficult to find the best and most | | | | and Uraguay). Argentina hopes to supply the |
| appropriate way to conduct business. | | | | technologically sophisticated part of this market, as it |
| It is not advisable to raise the subject of military | | | | cannot generally compete with Brazil in terms of scale. |
| government and be very careful to avoid the topic of | | | | The business environment in Argentina was thrown |
| the Falklands Islands as almost every Argentine is | | | | into turmoil at the end of 2001. After a decade of |
| convinced that they should have sovereignty over the | | | | economic stability, with one Argentine peso valued at |
| islands. | | | | one US dollar, this exchange rate was abandoned, and |
| Argentinian Heritage | | | | the local currency left to float freely. This caused a |
| Argentina is very proud of its European heritage. Most | | | | massive withdrawal of capital from Argentina, and this |
| of the population, especially in the capital city Buenos | | | | provoked a banking and financial crisis. Long-term |
| Aires, have ancestors who immigrated to Argentina | | | | planning became extremely difficult, and the outlook for |
| between the end of the 19th century and the middle of | | | | foreign investment is very uncertain. Extreme caution is |
| this century. | | | | advised, as the economic uncertainty is likely to last for |
| Buenos Aires is not just a Spanish city, but also has | | | | many months. |