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LatinNews Daily - 15 March 2021

In brief: Argentina launches trade cooperation agreement with China

* Argentina’s productive development ministry has announced a cooperation agreement with China, which aims to increase bilateral trade and business integration between the two countries, as well as increasing Chinese investment in Argentina. The agreement will include technical assistance to help companies design export plans, subsidised credit loans that will exclusively be available for exports to the Chinese market, and the promotion of key productive sectors. The productive development minister, Matías Kulfas, said the agreement would double the number of small and medium-sized enterprises (SMEs) that export to China, and “would open new channels for trade and investment and enable our companies to sell their products in China’s growing internal market.” China’s ambassador to Argentina, Zou Xiaoli, said that the “complementary nature” of the two economies means that there is “enormous potential for trade cooperation”. Kulfas also said that bilateral trade had grown from approximately US$2bn in 2000 to US$16bn in 2016; that China was Argentina’s second biggest trade partner; and that in 2019 Argentina’s exports to China totalled US$6.8bn, approximately 10.8% of Argentina’s exports.

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