Argentina’s President, Alberto Fernandez, has recently highlighted China’s significant role in supporting Argentina’s economic revitalization. Describing China as a “very large country” that leads international trade, Fernandez expressed appreciation for the respectful and supportive relationship between the two nations.
In February 2022, President Fernandez visited China to meet with President Xi Jinping and to attend the opening ceremony of the Beijing Winter Olympics. During this visit, Argentina signed a memorandum of understanding (MoU) to join China’s Belt and Road Initiative (BRI), commemorating the 50th anniversary of diplomatic relations between the two countries. This strategic move is expected to unlock financing for investments and projects in Argentina worth over $23.7 billion.
Fernandez praised China’s approach to international relations, emphasizing Beijing’s respect for other countries and its absence of coercive policies. He underscored the BRI’s potential to promote development in Argentina, viewing it as a model for multilateral cooperation without conditions. He referred to China as a “genuine investor” and a “valuable partner and friend” for Argentina.
Ahead of his upcoming visit to China to attend the third Belt and Road Forum for International Cooperation, Fernandez reaffirmed Argentina’s commitment to the BRI and expressed intent to join the BRICS group of emerging economies. The deepening of ties with China is seen as a crucial step in Argentina’s efforts to enhance its connectivity with global markets and integrate more fully with regional and international economies, particularly in Asia.
In June, Argentina and China agreed on a cooperation plan that includes new infrastructure projects across 13 strategic sectors such as education, tourism, sports, science and technology, and defense. One notable example is the involvement of China Machinery Engineering Corporation, which has completed infrastructure projects in Argentina valued at around $2.47 billion, creating thousands of jobs and reducing transportation costs.
Argentina’s participation in the BRI is expected to contribute significantly to the country’s overall development, boosting productivity, fostering economic growth, and improving the well-being of its people. By strengthening its partnership with China, Argentina aims to revitalize its economy and enhance its role on the global stage.
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China can play a crucial role in Argentina's economic revitalization
cgtn.com
