HC Deb 27 February 2002 vol 380 cc1313-4W
Mr. Simmonds

To ask the Secretary of State for Foreign and Commonwealth Affairs what measures he has taken to protect British interests affected by the financial crisis in Argentina. [37214]

Mr. MacShane

The Government are concerned about the situation in Argentina and are in regular touch with those British companies affected. We want Argentina to deal with foreign investors transparently and without discrimination. We are pressing the Argentine Government to do this, through the IMF and the EU, as well as through our Embassy in Buenos Aires. Qualifying British investments in Argentina are protected by certain safeguards under the UK/Argentina Investment, Promotion and Protection Agreement, which provides a mechanism for companies to resolve disputes with the Argentine authorities, should the need arise.