Argentina has long claimed sovereignty over the islands, which are about 480km from South America and home to some 3500 people. Argentina argues the islands were illegally taken from it in 1833.
Britain, which says its territorial claim dates to 1765, sent a warship to the islands in 1833 to expel Argentine forces who had sought to establish sovereignty over the territory.
Argentina invaded the islands in 1982, triggering a two-month war that claimed the lives of 255 British service members, three islanders and 649 Argentine personnel. The Argentine forces were ultimately expelled and Britain reasserted its control.
Residents in 2013 voted overwhelmingly in favour of remaining an overseas territory of the United Kingdom.
David Rutley, Britain’s minister for the Americas, expressed disappointment in Argentina’s decision.
“Argentina has chosen to step away from an agreement that has brought comfort to the families of those who died in the 1982 conflict,” Rutley, who recently visited Buenos Aires, said on Twitter.
“Argentina, the UK and the Falklands all benefited from this agreement.” - AP