Argentina and China negotiate the “Silk Road”: what the agreement is about

Argentina and the People’s Republic of China continue, within the framework of President Alberto Fernández’s visit to the Asian nation, negotiations for the South American country to join the so-called “Silk Road” project, a platform to promote the flow of trade and investment, market integration and open and inclusive regional economic cooperation,” official sources detailed.

The “Belt and Road Initiative” (BRI) aims to promote cooperation and connectivity between countries through two main components: one of a terrestrial nature (the “Belt and Road Economic Belt and the Silk Road “) and the other transoceanic (the “Maritime Silk Road”).

The project was initially focused on Central Asia but has expanded its participation to other regions and currently more than 140 countries in Africa, Asia and the Middle East, Europe, Latin America and the Caribbean , from Oceania joined him.

Official spokespersons said that this Saturday “negotiations between Argentine Foreign Minister Santiago Cafiero and He Lifeng, chairman of the National Development and Reform Commission, the responsible person on behalf of the Chinese government, continued and the details have been adjusted” of the meeting they will hold on Sunday. President Alberto Fernández with his Chinese counterpart, Xi Jinping.

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Argentina participated in the first Belt and Road Forum for International Cooperation held in Beijing in 2017, at the head of state level, and in March 2018, China proposed the signing of memorandum of understanding for cooperation within the framework of this project.

During President Xi’s state visit to Argentina in December 2018, it was reflected in the joint statement and joint action plan 2019-2023 that the comprehensive strategic partnership between the two countries is extendable to relationship with the Belt and Road Initiative.

Currently, the bilateral meeting between the two presidents is another step in deepening the comprehensive strategic partnership between the two countries.

The Argentine government is promoting a set of infrastructure works relevant to the energy sector, water and sewage network, transport and housing construction.

Government sources also confirmed that “relevant aspects were presented on the macroeconomic policies of the two countries and future prospects, as well as investment policies, in the case of Argentina focused on opportunities in productive projects, with the aim of increasing the exportable supply from Argentina to China. and to diversify it by adding value and technology”.

Among the ongoing infrastructure cooperation projects are the Belgrano Cargas railway system and the Roca railway, the hydroelectric complexes on the Santa Cruz River and the Caucharí 4 and 5 photovoltaic park.

In this sense, Foreign Minister Cafiero mentioned that “Argentina hopes to be able to work with China to significantly increase the local content of the works financed through jointly agreed plans. Always with the same objective: to strengthen the Argentine economy and create jobs.

In this sense, he indicated that “in the medium term, the desired objective is to achieve concrete results that will promote bilateral trade in goods and services and make investments for the productive sector and for the development of technological capabilities”.

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