China and Argentina move forward with greater trade

Chinese Deputy Prime Minister Hu Chunhua and Argentine Cabinet Minister Marcos Peña met in Beijing to strengthen cooperation

ties and increase trade between the two nations.

In this meeting an economic and political analysis was carried out; which concluded in the necessity that exists to continue working to identify the opportunities that will allow the bilateral growth, the tourism and the investments, between the two countries.

The progress made by the commercial relationship of China and Argentina in agricultural matters was highlighted, which has been possible through various agreements and protocols. Where China has been very open with Argentina’s exports. It should be noted, the arrival of the first shipment of Premium beef to China, just after the entry into force of the protocol that allows the export of chilled and boneless cuts.

In addition, it was explained that there is a high probability that China will open its market to receive soy flour from Argentina. This is a product whose export both countries have been negotiating since May 2018. Since, soybean meal among other derivatives of this herbaceous plant, is one of the products that most imports the Asian country.

Therefore, for the month of August, China is expected to send inspectors to the soybean processing plants in Argentina, to determine the beginning of the entry of this product to the Chinese market.

Both governments agreed to the next dialogue table for China and Argentina for September 16 in Buenos Aires, at the Bilateral Business Forum; where it is intended to carry out a deep exchange of ideas focused on the economic, infrastructure, social and cultural aspects. Therefore, it is estimated that trade relations will continue to grow between the two countries.

This meeting showed an important dynamism between both nations and a trust between both leaders, very favorable to keep the markets open.

Food quality in Argentina is recognized by China, who has demonstrated how to take advantage of it, by supplying the demand of its markets with food from the Latin country.

You may also be interested in reading: Trade and investment in Latin America and Asia-Pacific: the link with APEC.

What Argentina imports from China:

  • Cell phones.
  • Parts and spare parts of electrical appliances.
  • Receiving devices for radiotelephony, broadcasting, television, video projectors and video monitors.
  • Glyphosate (low toxicity herbicide) and its salt.
  • Base stations of cellular telephony.
  • Automatic machines for data processing.

What Argentina exports to China:

  • Soy beans.
  • Soy oil.
  • Beef
  • Raw oil.
  • Shrimp and prawns.

Obtain a detailed report on the commercial relationship of these two countries

If you have a company or are a natural person interested in participating in the commercial exchange that China and Argentina have; You should know that the starting point to start taking successful actions is the wide, reliable and timely information about the market behavior of your interest.

In Trade Data we are a company dedicated to providing foreign trade information to entrepreneurs and investors from Asia and the United States; in order to help them identify opportunities in the Latin American territory.

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Sources:

http://www.aaip.gob.ar/noticias/pena-se-reunio-en-beijing-con-el-viceprimer-ministro-chino

https://www.cronista.com/economiapolitica/Argentina-avanza-en-negociacion-con-China-por-harina-de-soja-y-central-nuclear-20190625-0016.html

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