China, Argentina sign cooperation agreement on promoting Belt and Road Initiative

Addis Ababa, June 4, 2023 (FBC) – China has signed a cooperation agreement with Argentina on promoting the joint construction of the Belt and Road Initiative (BRI), China’s state planner said on Friday. Analysts believe this shows China’s intention to build high-quality economic relationship with Argentina amid South America’s de-dollarization efforts.

The agreement will deepen collaboration in areas including infrastructure, energy, economy and trade, finance and culture, further advancing the two countries’ joint construction of the Belt and Road, according to a statement released by the National Development and Reform Commission (NDRC).

This agreement marked another milestone in the ongoing China-Argentina collaboration under the BRI, following the signing of a memorandum of understanding in February 2022.

“Since establishing diplomatic relations, China and Argentina have enjoyed a stable and robust bilateral relationship, providing a solid foundation for cooperation.

The economic and trade ties between the two countries have experienced rapid growth,” Zhang Chengcheng, co-founder of LATAM CHINA TECH told CGTN on Saturday, citing data that in 2020, China surpassed Brazil to become Argentina’s largest trading partner and in the first quarter of 2023, the trade volume between China and Argentina reached $4.647 billion, with a year-on-year growth of 6.6%. CGTN