Australia and Argentina have signed Work and Holiday agreement earlier this year, which will allow Australian and Argentinean young people to visit each other's countries in order to work and travel. The objective of the agreement is to deepen the intercultural exchange and to strengthen the economic ties between the two countries. The new Work and Holiday Visa will be available for people who are between 18 and 30 years old and will be with maximum validity of 12 months. A maximum limit of 500 applicants per year is set. The difference between the Working Holiday Visa and the Work and Holiday Visa is that the latter requires applicants to study or to have graduated from an institution of higher education. In addition to that they must have the support of their government in order to apply.