Slight growth in Argentina’s economy with China as its main ally
Amidst the scarcity of dollars, Argentina is exploring alternatives to pay for imports. One of these solutions involves reaching an agreement with China to pay for technological components in yuan. This move aims to avoid shortages of parts for the Argentine industry and also extends China’s influence in Latin America.
China manufactures renewable energy train for Argentina
One of China’s leading high-speed train manufacturers, CRRC Tangshan Co., has successfully manufactured the first renewable energy light rail train for Argentina. The train will be used in the transportation system of the Jujuy province in Argentina as part of the country’s railway modernization plan.
China advances in its commitment to boosting the railway sector in Argentina
During a working tour in China, Argentina’s Minister of Transportation, Diego Giuliano, made significant progress in enhancing the country’s railway sector. Agreements were signed for future investments in the railway field, with particular emphasis on the Belgrano Cargas Railway Rehabilitation Project. This project, which involves an investment of $816 million, aims to acquire new wagons, locomotives, and repair existing vehicles.
China pushes for Argentina to join BRICS
During a meeting between Zhao Leji, the president of the Chinese People’s Assembly, and Argentine officials, including national deputy Máximo Kirchner and the head of the Chamber of Deputies, Cecilia Moreau, China expressed its support for Argentina’s entry into the BRICS group, which consists of Brazil, Russia, India, China, and South Africa. The aim of Argentina’s potential membership is to gain access to financial assistance provided by the group.
Argentine Minister of Economy secures US$ 1 billion in investments after meetings with companies in China
During his visit to China, Argentina’s Minister of Economy, Sergio Massa, reached significant investment and disbursement agreements with Chinese companies amounting to nearly US$ 1 billion. These funds, expected to arrive on July 15, will bolster the public reserves of the Argentine Central Bank, enhancing the country’s economic stability.
Argentine ambassador in China promotes Chinese tourism in Argentina to strengthen foreign currency income
The Argentine ambassador to China, Sabino Vaca Narvaja, is placing a strategic emphasis on the development of Chinese tourism in Argentina as a means to enhance the country’s foreign exchange earnings. Vaca Narvaja met with the governor of Hainan province to discuss potential areas of cooperation in trade, sports, and tourism. He proposed a sister city relationship between Hainan and Tierra del Fuego, as well as the possibility of establishing direct flights between the two countries.
China is advancing in negotiations to sell fighter planes to Argentina
The Argentine Minister of Defense, Jorge Taina, has recognized the issue of obsolescence in the country’s military equipment, downplaying President Alberto Fernández’s statement regarding the need for external financing for new acquisitions.
Gezhouba will disburse 500 million dollars for the construction of two dams in Argentina
In a meeting in Buenos Aires with Argentine Minister of Economy Sergio Massa, representatives from China Gezhouba Group Corporation (CGGC) announced that, before the end of June 30th, the company will disburse $500 million to finance the construction of two hydroelectric dams in the province of Santa Cruz, Argentina.
Argentina replaces the dollar with the yuan as the currency for exchange with China
The Minister of Economy of Argentina, Sergio Massa, and the Chinese Ambassador to the country, Zou Xiaoli, announced that imports of intermediate goods from China will be paid in yuan through the “swap” agreement between the two countries.
Argentine SMEs can access a training program to enter the Chinese market
In collaboration with the Argentine-Chinese Chamber of Production, Industry, and Commerce (CATPIC), the Argentine Government has introduced a mentoring program designed to support small and medium-sized enterprises (SMEs) in their pursuit of business opportunities in the Chinese market.