In a treaty of 1825, the United Kingdom became one of the first countries to recognise the independence of Argentina. English arrivals and investment played a large part in the development of Argentine railway and tramway lines, and also Argentine agriculture, livestock breeding, processing, refrigeration and export. At one point in the 19th century, ten per cent of British foreign investment was in Argentina, despite not being a colony. In 1939, 39% of investment in Argentina was British.