China attempts to garner support from Argentina, Bolivia, and Peru for the advancement of the Belt and Road Initiative
Argentina's Foreign Minister, Diana Mondino, recently visited China, marking the first trip by Argentina's top diplomat to the Asian nation since President Javier Milei took office in December 2022. The visit comes amidst protracted tensions with the US and China's pursuit of diversifying its trade and investment partners.
During her stay, Mondino met with senior officials from China's National Development and Reform Commission and China's Ministry of Commerce, as well as top executives from Huawei and China Machinery Engineering Corporation (CMEC). She encouraged these Chinese companies to invest more in Argentina, signaling an interest in bilateral cooperation on trade and investment, finance, tourism, space, and maritime issues.
China was Argentina's third-largest destination for exports in 2023, with around 20% of Argentine imports coming from China, making it the country's largest trading partner aside from neighbouring Brazil. Wang Yi, the Foreign Minister of China, met with Mondino on April 30, 2023, in Beijing. Wang urged greater aerospace and maritime cooperation and bilateral trade between China and Argentina.
Wang also stated that China will pursue an equal and orderly multipolar world in partnership with South American countries. He expressed China's support for Argentina's efforts to maintain economic and financial stability and is willing to continue providing assistance within its capacity.
The diplomats discussed cooperation on infrastructure development under the Belt and Road Initiative (BRI) and the digital economy. This conversation aligns with China's aim to diversify its partners in trade and investment, as US President Joe Biden's administration has raised concerns over excess production of electric vehicles in China and is considering additional trade tariffs.
However, the details of the Chinese company with which Mondino met during her visit or any specific agreements reached remain undisclosed in the available information. Milei, the president of Argentina, has signaled a distance from China, having withdrawn Argentina's planned entry into the BRICS club of nations.
This article was first published on Nikkei Asia and is republished here as part of 36Kr's partnership with Nikkei. It serves as a testament to the evolving relationship between Argentina and China, as both nations navigate their economic strategies in a global landscape marked by shifting alliances and trade dynamics.
