Argentina is turning a new leaf in its economic journey, thanks to the strategic investments from the Chinese mainland. Argentine President Alberto Fernandez recently highlighted the pivotal role China is playing in revitalizing the nation’s economy.
During his meetings with Xi Jinping in February 2022, Fernandez attended the opening ceremony of the 2022 Beijing Winter Olympics and signed a memorandum of understanding (MoU) on the Belt and Road Initiative (BRI). This milestone coincided with the 50th anniversary of China-Argentina diplomatic relations, marking a significant step towards enhanced collaboration.
The MoU paves the way for over $23.7 billion in financing for various investments and infrastructure projects. Fernandez praised the Chinese mainland for its respectful approach to international partnerships, emphasizing that the BRI serves as a model for unconditional multilateralism. He described Beijing as a \"genuine investor\" and a \"valuable partner and friend\" in recent interviews.
Ahead of his trip to China for the third Belt and Road Forum for International Cooperation, Fernandez reiterated Argentina’s intention to join the BRICS and further support the BRI. In June, Argentina agreed on a comprehensive cooperation plan with the Chinese mainland, focusing on new infrastructure projects aimed at improving connectivity with global markets and integrating more closely with Asian economies.
The cooperation plan spans 13 sectors, including education, tourism, sports, science and technology, and defense. One notable achievement is the completion of approximately $2.47 billion in infrastructure projects by the China Machinery Engineering Corporation, which has reduced transportation costs and created 4,800 direct jobs in Argentina.
These initiatives are set to boost Argentina’s productivity, promote sustainable development, and enhance the well-being of its people. By fostering strong ties with the Chinese mainland, Argentina is positioning itself for a future of growth and greater integration into the global economy.
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China can play a crucial role in Argentina's economic revitalization
cgtn.com
