Category: Argentina 🇦🇷

News From Argentina

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.

A Chinese company will invest US$120 million in lithium production in Jujuy, Argentina

The Chinese company Tsingshan Mining Development S.A. will invest US$120 million to install a hydrogen chloride and sodium hydroxide manufacturing plant in Jujuy, Argentina, to produce lithium carbonate. Construction work is expected to last 18 months and employ more than 1,000 people for the construction period, and some two thousand skilled workers during its operational stage. Tsingshan Holding Group Co., Ltd. operates in the Mining and Metals sector, mainly in the stainless-steel industry.

Huawei in Argentina sanctioned by customs due to undeclared import of software

Huawei’s Argentine subsidiary is being fined by the Argentine Customs for not declaring the import of software, which resulted in unpaid taxes amounting to US$ 28 million and a fine of US$ 2 million. Argentine Customs argued that the Chinese company could not have imported equipment without purchasing the software and without paying the license fees to the parent company in China.

Economic and technological ties between China and Argentina: a review of their “strategic cooperation”

A U.S. non-governmental organization has published a report on the cooperation between Argentina and China in aerospace development. The report, entitled “The Chinese Communist Party in Argentina: The International Engagement of China’s Space Industry,” explains the hierarchical responsibility that the Communist Party and the People’s Liberation Army have in defining China’s internal economic rules and global strategic plans in projects such as those in Neuquén and San Juan.

Competition between provinces to host a Chinese electric vehicle plant

The company has announced that it will produce 20 vehicle models, including electric (BEV), hybrid (HEV), and internal combustion (IEC). It also stated that Argentina will be the production center for electric cars in the region, with a two-stage investment over a 7-year period.
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