US Companies Eye Expansion In This Burgeoning Cannabis Market, See Global Potential

Entre Ríos, one of Argentina's provinces and a vibrant economic hub, played host to the second Entre Ríos Trade Forum from July 10th to 12th, 2023, promoting a diverse array of economic opportunities for the cannabis industry.

Roughly 29 foreign companies engaged in more than 180 meetings with 46 local enterprises and organizations to discuss operations valued at an estimated $149 million. Within the cannabis sector, collaborations worth approximately $12 million were assessed, a significant success given that this marked the inaugural occasion for deliberating investment options in cannabis.

This achievement is particularly noteworthy considering the ongoing depreciation of the local currency, which amplifies the disparity in exchange rates and enhances the value of the US dollar within the country for those seeking asset acquisition.

The forum was led by the Advanced Leadership Foundation in partnership with the provincial government and the Inter-American Development Bank (IDB), and the teams at Benzinga Cannabis and El Planteo were received as special guests.

"These are public policies that transcend administrations," said Governor Gustavo Bordet at the event, which included informative seminars, networking, and matchmaking sessions.

Hemispheric Cooperation

In his speech, the governor thanked the Advanced Leadership Foundation (ALF), an international nonprofit based in Washington D.C., and its president Juan Verde, "who is constantly collaborating with the province to identify business opportunities.”

The ALF is empowering over 10,000 future leaders from different countries through various programs and trade missions, to drive economic development and enhance bilateral trade relations.

Verde emphasized "the large number of strategic sectors in the province that are of interest to foreign companies" and mentioned, among others, the agricultural sector, fruit industry, food sector, and technology sector, in which he underscored "the enormous potential that local companies have to generate technological advancements for American businesses."

Entre Ríos: A Strategic Gateway for Cannabis Trade and Biotech Innovation

Known for its highly diversified and globalized specialty foods sector, Entre Ríos' strategic geographic location has primed it to become a significant cannabis hub. The province sits strategically between Uruguay and Argentina, where cannabis is legal, opening a window of opportunity for future trade dynamics.

The region's already established role as a primary exporter of commodities bolsters its potential and offers investors the installed capacity to produce cannabis at scale under the strictest pharmaceutical standards.

In addition, the event showcased Entre Ríos' quality of human resources, particularly in the biotechnology sector. The locality of Oro Verde, known for its biotech hub, stood out as a focal point. Companies used the forum to present their business models, pitch for investments, and glean insights from industry experts.

Connecting US Innovators with New Markets: Exploring Opportunities in Entre Ríos

The forum also created a bridge between US innovators and solution providers, aimed at conquering new markets and diversifying the province's productive matrix. This diversification is pivotal for Latin American countries, as it boosts export value, enhances competitiveness, and inflates salaries and revenues.

Participants benefited from the initiative's exclusive advantages. Sector-specific market analysis, comprehensive guides on conducting business in Entre Ríos, and customized business matchmaking services were among the key benefits offered to the American companies in attendance.

Eric Clifton, founder, and CEO of Orison, an American energy storage company, highlighted the importance of the mission to find new production points. "It allowed us to find partners who can help us and whom we can also help to reach the US," he stressed.

Opportunities were ripe in agriculture and agro-industries, tourism, metal manufacturing, the burgeoning cannabis industry, knowledge-based economy businesses, and renewable energy.

The forum highlighted the province's appealing combination of a highly qualified workforce, political stability, and favorable tax incentives, factors that have been driving its international exports and foreign direct investment over the past decade.

As the gateway to 43 million consumers and boasting a world-class labor force, Argentina – and Entre Ríos in particular – is emerging as an attractive prospect for US companies looking to expand abroad. 

If you want to find more investment opportunities, strategic partnerships, and key investors, do not miss, the upcoming Benzinga Cannabis Capital Conference, returning to Chicago on September 27 and 28. This is your opportunity of attending an event where deals get DONE!

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• Government-Funded THC-Rich Cannabis Strains Debut In Argentina: Why This Could Shake Up Marijuana Markets
• Argentina: Government Legalizes Self-Cultivation, Sale Of Medicinal Cannabis

Photo by Nancy Ferraro via Pixabay.