Argentina, the second-largest economy in South America and a member of the G20, is recovering rapidly following the fiscal structural reforms being implemented. Taking into account the successful conclusion of the negotiations of the trade agreement between the EU and Mercosur, a prominent market will emerge for many Greek companies operating in the food and beverage sector.
Mr. Stavros Stavrakos, Head of the Economic and Commercial Section of the Greek Embassy in Buenos Aires, shares with Ambrosia Magazine his views on the challenges and opportunities for the Greek exporting companies in Argentina.
Interview: Kyriaki Moustakidou
What would you say is the greatest asset of Greek F&B products in Argentina?
Argentine citizens have a very positive view of Greece as a tourist destination, as well as its unique food and beverage products. Although Greek F&B products are not widely available in the Argentine market, consumers in Argentina recognize them as gourmet productssynonymous with the Mediterranean diet and healthy lifestyle. This is also evident from the fact that Greek restaurants in Buenos Aires are quite popular. Greek F&B products, however, are mainly available in a limited number of grocery stores in Buenos Aires.
Which Greek products have the greatest potential, and how could their dynamics improve?
In 2023, there was a significant increase in the volume of bilateral trade between Argentina and Greece, amounting to 316.5 million euros — an increase of 16.4% compared to 2022 (271.9 million euros). Despite the challenges of the Argentine market, there has been a steady increase in Greek exports in recent years. In 2023, for example, Greek exports to Argentina increased by 240% compared to 2022: 86.7 million euros in 2023, as against 25.5 million euros in 2022.
The most important products that Greece exports to Argentina are petroleum products and aluminum foil, while the F&B products include fresh kiwis, feta cheese, olive oil, ouzo, mastic liqueur, waffles and wafers, etc. Greek yogurt, which is highly recognizable and preferred by Argentine consumers over domestic varieties, is not available in supermarkets or grocery stores.
Photo: Mr. Stavrakos (fifth from left) with Greek entrepreneurs who visited Argentina in November 2024, along with Mr. Efstathios Paizis Paradellis, Ambassador of Greece to Argentina (fourth from right)
What is the biggest challenge for companies or brands who want to do business in Argentina?
The economic situation of Argentina with the well-known problem of inflation and the continuous devaluation of the national currency (the Argentine peso) has had a negative impact on the importation of food and beverage products. Argentina’s main suppliers of those products are Brazil, China and USA. Generally speaking, such imports are limited in Argentina, as the country relies more on local production to meet domestic needs.
There are several challenges for Greek exporting companies, given the fact that Argentina is a big producer of many F&B products that our country exports in large quantities. As a result, the bilateral trade between Greece and Argentina could and should be further developed. It should be noted that Argentina’s authorities have, over the past years, imposed import restrictions and regulatory burdens that affect the importation of foreign products, making it a relatively closed market to international trade.
Considering the conclusion of the negotiations of the trade agreement between the EU and Mercosur on 6 December 2024, there will be a great opportunity for EU companies as soon as the agreement is ratified. Many Greek exporting companies from the F&B sector could also benefit from this trade agreement. It has been pointed out that “The EU-Mercosur agreement will help boost these exports by eliminating high duties on EU key export interests. The agreement will open unprecedented access to the countries of Mercosur for European food producers. Mercosur countries are growing, dynamic markets that have currently high barriers to entry”.
Could you name some targeted actions taken to improve the position of Greek F&B products?
One of the main tasks of our office is to actively support Greek companies looking for trade partners in Argentina. We always try to facilitate negotiations and cooperation between companies from both countries. Furthermore, our office is constantly examining market trends in Argentina, with the aim of exploiting potential opportunities for the promotion of Greek products. In previous years, our office successfully organized events to promote Greek food and beverage products in Buenos Aires as well as other cities in Argentina. In some cases, visitors had the opportunity to taste traditional Greek products.
In addition to the aforementioned events, in the last two years, two trade delegations from Greece have been organized. Greek companies from various sectors, including F&B, visited Buenos Aires and had B2B meetings with representatives of Argentine enterprises in order to explore potential business prospects.
Which are the best-selling Greek F&B products in Argentina?
The most important product from the F&B sector that Greece exports to Argentina is fresh kiwi fruit. Recently, there have been several promotional activities for Greek kiwi fruit in Argentina, within the framework of the EU project “Delicious Fruits”, which resulted in a significant increase of Greek exports into this market. Those promotional activities included product sampling in several stores in Buenos Aires, where Argentine consumers had the opportunity to taste the fruits from Greece. Κiwi fruit was the top commodity in the sector exported by Greece to Argentina and ranked sixth overall among Greek exports.
Embassy of Greece in Buenos Aires
Office for Economic and Commercial Affairs
Mariscal Ramon Castilla 2952
Buenos Aires (1425)
Tel.: 005411/48051100
E-mail: ecocom-buenosaires@mfa.gr
