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China and Argentina sign MoU on Belt & Road Initiative

According to a joint statement issued Sunday after a meeting between Chinese President Xi Jinping and his Argentine counterpart Alberto Fernandez, China and Argentina have signed a Memorandum of Understanding (MoU) on the Belt & Road Initiative,.

China’s official Xinhua News Agency reported that Fernandez is paying a visit to China, during which he attended the opening ceremony of the Beijing Olympic Winter Games.

The MoU is on jointly promoting the construction of the Silk Road Economic Belt and the 21st Century Maritime Silk Road. It is between the government of the People’s Republic of China and the government of the Argentine Republic. It was signed as the two countries marked the 50th anniversary of the establishment of diplomatic ties this year.

The statement said that they also studied bilateral trade cooperation and agreed to continue to expand trade, enhance financial support for China’s export settlement to Argentina and actively encourage trade diversification,.

The two sides agreed actively to advance bilateral investment and to expand how they complement each other in economic activity and seek new economic opportunities. The statement added that they agreed to boost green sustainable development, and investment and cooperation in the digital economy.

According to the statement, the meeting outlined the framework of major projects for investment in infrastructure construction in Argentina, discussed the possibility of expanding localized participation in infrastructure investment projects, and identified key areas for investment cooperation to expand Argentina’s exports.

Source: Xinhua News Agency, February 6, 2022