President Obama in Buenos Aires

U.S. President Barack Obama’s two-day visit to Argentina marks a policy change and a détente between the two countries after decades of strained relations. Obama endorsed Argentina’s new center-right business-friendly President, Mauricio Macri, as an example for other countries in Latin America to follow.

In his first 100 days in office, Macri has sought to put distance between his administration and South America’s leftist bloc, old allies of former President Cristina Fernandez. He has looked for a warming of relations with Western capitals as he seeks new investments in one of Latin America’s largest economies.

“I can tell you, President Macri is a man in hurry. I’m impressed because he has moved rapidly on so many of the reforms that he promised, to create more sustainable and inclusive economic growth, to reconnect Argentina with the global economy and the world community,” remarked Obama at a press conference in Buenos Aires.

“Argentina is re-assuming its traditional leadership role in the region and around the world,” the U.S. President added. During an intensive two-day visit to Buenos Aires, President Obama had multiple meetings, visited emblematic places like the memorial park to the heroes of Plaza de Mayo, sampled Argentinean wine and danced tango with a ballerina while First Lady Michelle Obama did the same.

Obama’s visits to Argentina coincided with the announcement that several U.S firms will invest a total of $2.3 billion in the country over the next two years, including around $100 million each from Ford Motor Co, General Motors Co, Dow Chemical Co and AES Corp.