General Information
Time Zone: GMT-2h00
ISO Code: AR
Dialing Code: +54
Continent: South America
Overview
República Argentina is an independent republic, which lies on the South American continent. Argentina is bounded to the north by Brazil, Bolivia and Paraguay, to the east by Brazil and Uruguay, the south by the Atlantic Ocean and Chile and to the west by Chile and the Andes Mountains. The capital and largest city in Argentina is Buenos Aires. Other major cities include Córdoba, Rosario, La Plata, San Miguel de Tucumán and Mendoza.
The official language is Spanish and most widely spoken, however Italian and some Native American languages are also spoken. The local currency is the Peso.
Argentina has an important oil industry and has a wealth of energy resources, including oil, natural gas, and hydroelectric potential. Argentina is a net exporter of oil, gas, and electricity primarily to its neighbours Brazil and Chile.
Hydroelectric power in Argentina is currently being developed even though most rivers and waterfalls with potential energy are located far from industrial centres, these technical limitations are being overcome.
Argentina has an advanced nuclear energy program and is a forerunner amongst other Latin American countries, providing the country with 9% of its electrical needs.
Argentina has small quantities of coal, iron ore, gold, silver, lead, zinc, tin, tungsten, mica, and limestone deposits and is rapidly becoming one of the principal Latin American gold and copper producers, having made significant increases in production over the past three years.
Over the last 10 years through out the 1990’s Argentina has been one of the most economically and politically stable countries in South America. The economy has been a high priority amongst the people and political leaders have taken active roles in ensuring the country’s stability. This has been achieved by selling off most state owned companies and public utilities including those in the telecommunications, airlines, power generation and distribution, natural gas transportation and distribution, water systems, and railways sectors. Argentina prospers economically by keeping foreign debt low, inflation rates stable, utilizing free trade, and openness towards foreign investment.
The international time zone in Argentina is GMT -3, Buenos Aires observes daylight savings time. The international dialing code is +54. Most foreigners can obtain visas on entering Argentina.
Aeropuerto Internacional Ezeiza, outside Buenos Aires is the main international airport and connects Argentina to the many South American and North American destinations. There are five airlines that fly domestically and Aerolíneas Argentinas, the former state owned airline handles international routes also. Línea Aéreas Privadas Argentinas, Austral, Líneas Aéreas del Estado and Dinar are the main Argentinean airlines. There is an extensive rail link through out the country and crossing the Andes Mountains, however since privatisation some of the country is no longer serviced.
The state of health, the current immunisation status, location and the local disease situation lead to the risk of contraction of cholera and dengue fever in the subtropical north regions.
International Trade
Argentina, which is a member of Mercosur, exports crude oil, minerals, agricultural products and manufactured goods, while the main imports are manufactured goods and machinery. There are no exchange control or credit-term limitations on imports and import payments may be effected in any currency stipulated by the contract. However all exchange transactions must be carried out through authorised entities. It is recommended that exporters to Argentina obtain irrevocable confirmed letters of credit and that care be taken with all documentation. Customs tariffs are based on the Harmonised System. Customs and storage facilities are adequate and reasonably secure. All export taxes have been eliminated (except for some oilseeds) and all application processes that obstructed exports have been lifted.
