Category: Argentina 🇦🇷

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.

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.

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.

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.

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.