Photo: China, Argentina. By: Fotos Agroindustria. Source: Flickr.
At the end of July, the Argentine-Chinese Chamber of Production, Industry and Commerce, presented a report entitled “Opportunities and Business with China”, which provides an in-depth analysis of existing economic relations between Argentina and China. The report describes Argentina’s window of opportunity when it comes to tightening commercial relations with the People’s Republic of China (PRC), via its insertion into the Belt and Road initiative. This report addresses the issues of international trade, the New Silk Road, agro-industrial issues, energy and mining development, infrastructure and telecommunications and ICTs. It also reiterates the complementarity of both economies, taking into account that the Chinese population’s food and purchasing power has changed, thus increasing preferences for Argentine products (especially foodstuffs).
This report hints at China displacing Brazil as Argentina’s largest trading partner. Since 2019, China’s exports have surpassed Brazilian exports in Argentina, achieving a USD$74 million advantage over Brazil, a gap that has since been on the rise. According to the report, this is due, among other reasons, to the fact that the pandemic had a greater impact on the automotive sector -which has been the largest source of Brazil’s trade with Argentina- than on the agricultural sector, which represents the largest part of trade between China and Argentina. Similarly, relations between Presidents Jair Bolsonaro and Alberto Fernandez have slowed down, while there is an interest on the part of Argentina in deep bilateral relations with China.
Top headline:
CGTN (PCR state-owned media): La Cámara Argentino-China de la Producción, la Industria y el Comercio presenta un informe sobre negocios con China.
Find out more:
BBC News Mundo: «ArgenChina»: por qué China desplazó a Brasil como el mayor socio comercial de Argentina.
América Economía: Argentina da a conocer informe sobre oportunidades de negocio con China
El Clarín (opinion): El Gobierno cambió las fichas para poder llegar a las elecciones.
BAE Negocios: «El potencial que tiene Argentina con China es enorme»