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  • Coca-Cola will increase its investment in Argentina by US$1 billion over the next four years.

    Coca-Cola will increase its investment in Argentina by US$1 billion over the next four years. | Photo: Reuters

Published 21 January 2016

President Mauricio Macri is seeking to woo international business leaders to invest in Argentina.

Argentine President Mauricio Macri struck a US$1 billion deal with beverage giant Coca-Cola Thursday.

Under the initiative, the company will spend US$1 billion on expanding its bottling and distribution operations in Argentina over the next four years, according to a statement from Macri's office.

The company current employs over 8,000 people in Argentina.

Coca-Cola is yet to comment, though the announcement came as Macri sought to woo international business leaders at the World Economic Forum in Davos, Switzerland.

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Along with the head of Coca-Cola, by Thursday afternoon Macri had also met with representatives from Dow Chemicals, Facebook, Shell, Total, Mitsubishi and Google.

“They were very productive meetings,” Macri told Telam. “There is much acceptance and interest in this new era that has begun in our country.”

Macri's visit is the first time in over a decade an Argentine head of state has attended the economic forum.

Later Thursday, Macri is also expected to hold talks with U.S. Vice President Joseph Biden, and Israeli Prime Minister Benjamin Netanyahu.

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Macri has vowed to roll back progressive economic policies of his left-leaning predecessor, Cristina Fernandez, and move Buenos Aires away from Latin America's left.

On Tuesday, Macri told reporters that he wanted to start a “new type of relationship” with Britain and that Argentina “wants to have a good relationship with the whole world.”

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