LatinNews Daily - 30 July 2018

Argentina: On 19 July Sylvester Turner, mayor of the US city of Houston, Texas, and Horacio Rodríguez Larreta, the mayor of Argentina’s capital Buenos Aires, signed a memorandum of understanding (MOU) to collaborate on best practices and policies for both cities on tourism, transportation, and other issues. The MOU was signed on the last full day of a trade mission to South America, headed up by Turner, which began on 14 July. As well as Argentina, Turner also visited Chile, and Peru. A press release from Turner's office notes that “targeted business sectors include energy, trade, and logistics as well as tourism”. The same press release notes that “Houston is home to 16,600 individuals of Peruvian, Chilean, and Argentine descent and trade relations between Houston and the three countries are valued at an average of US$9bn annually”. South America is Houston’s top regional trading partner, accounting for 52% of all imports to Houston and 49% of all exports. As regards the three South American countries visited by Turner, Houston is the second busiest gateway for US-Argentina trade (by value) and Argentina is Houston’s sixth largest South American trading partner. From 2007-2017 trade between Houston and Argentina averaged US$2.7bn annually and was valued at US$2.4bn in 2017. Meanwhile Peru is Houston’s 21st largest trading partner and its fifth largest South American trading partner. From 2007-2017 trade between Houston and Peru averaged US$2.6bn annually and was valued at US$3bn in 2017. Houston is the second busiest gateway for US-Chile trade (by value) and Chile is Houston’s 18th largest international trading partner. From 2008-2017 trade between Houston and Chile averaged US$3.9bn annually and was valued at US$3.2bn last year.

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