Argentina and Mainland China Agree to Deepen Comprehensive Strategic Partnership

Argentinean President Alberto Fernández had a cordial and fruitful dialogue with mainland Chinese President Xi Jinping during his visit to mainland China on 4-6 February 2022. Among other achievements, Argentina and mainland China issued a joint declaration where they committed to deepen their bi-lateral comprehensive strategic partnership and signed a memorandum of understanding on co-operation within the framework of the Silk Road Economic Belt and the 21st Century Maritime Silk Road Initiative.

Presidents Fernández and Xi analysed the evolution of bi-lateral trade flows and agreed to continue to promote greater trade volumes, provide the necessary support to finance mainland Chinese exports to Argentina, and actively incentivise the diversification of trade exchanges. To that end, both sides reiterated their commitment to expedite the conclusion of on-going sanitary and phytosanitary negotiations and encourage the celebration of the technical level meetings that are required to achieve that goal. Argentina and mainland China also highlighted the importance of intensifying institutional consultations in order to promote mutually beneficial trade opportunities. In the context of the current pandemic, the two sides will pursue, whenever necessary, virtual solutions to achieve concrete results in bi-lateral negotiations and promote commercial connectivity.

Both sides agreed to actively promote bi-lateral investments, expand economic complementarity and seek new economic opportunities, based on their respective national interests and rights. Argentina and mainland China also agreed to promote investment co-operation in the areas of green and sustainable development and the digital economy. Additionally, they highlighted the signing of the Strategic Action Plan on Agricultural Co-operation 2022-2027, which sets forth the priority areas to develop dialogue, actions and innovative mechanisms for co-operation. The importance of co-operation in scientific-technological matters and peaceful nuclear uses was also emphasised by the two sides.

The MOU on the Belt and Road Initiative formally incorporates Argentina into that initiative in an effort to promote co-operation and connectivity. Argentinean authorities indicate that financing for strategic infrastructure works in Argentina includes a US$14,000 million tranche agreed at the fifth meeting of the Strategic Dialogue for Economic Co-operation and Co-ordination (DECCE) as well as a second tranche of US$9,700 million that Argentina will present to the bi-lateral ad hoc group established within the framework of Argentina’s participation in the Belt and Road Initiative. Within these two mechanisms, Argentina and mainland China will explore opportunities to promote mainland Chinese investment in Argentina in order to expand Argentina’s exportable offer, as well as ways to increase the participation of Argentinean suppliers in infrastructure works.

In addition to this MOU, the two sides signed 13 separate co-operation agreements on various matters, including green developments, digital economy, space development, technology and innovation, university education and co-operation, agriculture, earth sciences, public media and nuclear energy.