BUENOS AIRES: A private Argentine report warns that the current diplomatic dispute over the Falklands-Malvinas could have an impact on bilateral trade with Britain which last year totaled over US$1.4 billion with a US$150 million surplus for Buenos Aires.

According to consultants Desarrollo de Negocios Internacionales (DNI) in Buenos Aires, of Argentina’s ten export markets exposed to tension and uncertainty the most significant is Britain, which absorbs 7.5% of all sales to the European Community.

“Exports to Britain are exposed to the current diplomatic conflict situation over the Falklands-Malvinas Islands sovereignty” DNI said.

Argentine exports to Britain totaled US$805 million, while imports reached US$655 million with a surplus for Argentina of US$150 million.

The list of ‘problem markets’ includes Greece, Iran, Iraq, Syria, Egypt, Libya and Nigeria, although in all these cases they refer to domestic problems of the listed countries.

These markets together with Britain represented U$9 billion in Argentine exports in 2011. Last year Argentina had an overall trade surplus of US$10.347 billion dollars compared to US$11.632 billion in 2010. Britain ranks as the seventeenth supplier, in value, to Argentina and figures in position 26 regarding Argentine exports.

The main Argentine exports to Britain are soy oil, soy flour, wine, corn, oil pipes, some chemical products and peanuts. Among British corporations operating in Argentina directly or through associates are Shell, BP, Cadbury, Sweppes, Diageo, Nobleza Piccardo and HSBC among others.

The list of main corporations exporting from Argentina to Britain includes Cargill, Alumbrera mining, Anglo-Swiss Xstrata; Louis Dreyfus and Ford among others, according to the DNI report.

- Bernama