Milei meets South Korean president, pushing bilateral deals alongside Mercosur

Argentine President Javier Milei held discussions with his South Korean counterpart, Lee Jae-myung, at the Casa Rosada, aiming to bolster bilateral commercial ties. President Lee, who is on a regional tour, engaged in talks that officially focused on strengthening trade, particularly in the energy, critical minerals, and food sectors. South Korea expressed particular interest in importing oil from Argentina, a topic made more urgent by the geopolitical situation around the Strait of Hormuz.

The meeting involved initial bilateral talks with the respective foreign ministers, followed by expanded discussions between the two countries' teams. Sources indicate that both presidents emphasized the need to accelerate bilateral agreements. A key point of discussion was how to advance the countries' agenda without being hindered by the perceived bureaucracy of the Mercosur trade bloc. President Lee reportedly agreed with Milei's sentiment that Mercosur should not impede the bilateral agenda, though officials stressed this does not signify an intention to leave the bloc.

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Milei conveyed his idea that Mercosur should not be an obstacle for the common agenda of the two countries to advance.

Milei, known for his critical stance on Mercosur, has repeatedly called for greater flexibility within the regional trade agreement. Argentina's government highlighted South Korea's significant interest in energy matters, including oil imports and critical minerals projects. The two nations also identified potential for collaboration in artificial intelligence as a driver of economic growth and explored complementary opportunities in the services sector, including culture.

During the meeting, President Lee congratulated President Milei on reducing inflation and implementing key investment incentive regimes, such as the RIGI and the Super RIGI. The discussions underscored a mutual desire to deepen economic cooperation and streamline trade processes, ensuring that bilateral initiatives can progress efficiently.

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We do not want to be tied to the bureaucracy of the Mercosur logic, which prevents faster progress in finding solutions.