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Argentina seeks more financing in economic projects from China

Argentina seeks more financing in economic projects from China

The Argentine Minister of Economy, Sergio Massa, held a meeting this Friday with the Chinese ambassador, Zhou Xiaoli, with the intention that both nations carry out projects to promote economic development, according to official sources.

According to a statement from the Palace of Finance, Massa raised with the diplomat the possibility of visiting China at the end of the first semester to consolidate political and economic cooperation between the two countries.

“They highlighted the importance of the bilateral instruments in force, as well as the opportunities for cooperation within the framework of the Belt and Road Initiative”indicated the source.

The document refers to the memorandum of understanding that the South American country signed with China in February last year, an initiative to form part of the New Silk Roads, which seeks to strengthen the multilateral trade system based on international law and encourage companies to build industrial and economic-commercial cooperation zones.

On the other hand, both officials reviewed the Argentine infrastructure works that have the financing of the Asian giant, such as the hydroelectric dams of Santa Cruz (south), gas pipelines and water networks in different parts of the country.

Recently, there were announcements of Chinese investment in the lithium sector, electric car manufacturing and fertilizers in Argentina.

On the commercial side, both Massa and Zhou promised to expedite the opening of markets so that more regional products are marketed in China, a pending point on the bilateral agenda.

“On this issue, they stressed that the search for financial instruments is central to strengthening the exchange”, they remarked in the statement.

Source: EFE

Source: Gestion

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