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Argentina Import Regulations Laws and Regulations Commercial Law

Argentina Import Regulations and Payments

Argentina’s President Javier Milei has made two significant changes to simplify import regulations and payments:
•    The import licensing regime, known as SIRA, has been eliminated; and    
•    A Central Bank issued bond, the BOPREAL, is now available to Argentine importers to pay debts with international suppliers.


Import Regulations 
In December 2023, the SIRA import licensing regime was replaced by a new system, SEDI (Importation Statistical System), to simplify the import process.  SEDI eliminates import licenses and instead requires the importer of record to input data and information related to the import at stake into the Customs Authority’s (AFIP) website.  The import filing process is compliant with WTO standards, and has the validity of a sworn statement, or declaration, which is valid for 360 consecutive days.  If the declaration is not approved within 30 days by the Secretary of Commerce, it is approved automatically. 


BOPREAL
A major challenge confronting U.S. companies doing business in Argentina recently has been getting paid by their Argentine buyer or partner due to strict capital controls implemented by the Argentine Government caused by dwindling dollar reserves and changes in the exchange rate.  Import-related debt in Argentina has nearly doubled therefore over the past two years.  The Argentine Government has created the BOPREAL (Bonds for the Reconstruction of a Free Argentina) to address this debt.  The aim is to use BOPREAL to both absorb excess liquidity in Argentina’s inflationary economy and boost imports used in local manufacturing by providing importers with a way of paying off their debt.

Under the previous Administration, foreign companies struggled with “trapped” money due to capital controls and will now be able to gain access to foreign currency more efficiently.  

The plan allows importers to purchase government BOPREAL bonds in pesos which can then be used to pay off import-related debts by then selling them in secondary markets to access foreign currencies.  Reportedly, BOPREAL is a temporary measure.

To capitalize on the BOPREAL option, U.S. exporters should engage with their local partners to determine next steps, as the Argentine Government has issued specific guidance that Argentine importers must follow to access BOPREAL bonds.


For additional information, please contact the U.S. Commercial Service in Argentina at Office.BuenosAires@trade.gov.