Argentine President Alberto Fernandez to Visit Berlin
Argentine President Alberto Fernández will meet with German Chancellor Olaf Scholz today in Berlin.
Today’s visit comes after Fernández began his European diplomatic tour on Monday where he met Spanish President Pedro Sánchez, aiming to advance Argentina as a stable economic and trade partner amid Russia’s invasion of Ukraine.
The Russia-Ukraine War has raised fears of a global food crisis as disruptions to food production and increased fertilizer costs have led to inflated prices. Russia accounts for 15% of global trade in nitrogenous fertilizers and 17% of global potash fertilizer exports. The EU’s agricultural sector—especially meat and dairy industries—are heavily dependent on imported feed crops and Russian fertilizer. Notably, the EU imports 52% of its maize crop from Ukraine.
Expect Fernández and Scholz to initiate proceedings for a trade agreement today. Fernández will likely promote Latin America as a safe alternative to meet the EU’s needs. Latin America accounts for over a quarter of the world’s food exports. The region is, however, poised to scale up its production due to its abundance of land and water resources. Furthermore, as pro-tempore president of the Community of Latin American and Caribbean States, expect Fernandez to leverage his position to promote greater investment into agricultural infrastructure.
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