By Norihiko Shirouzu and Ella Cao
BEIJING (Reuters) – China and Argentina pledged on Sunday to deepen strategic cooperation on trade, foreign exchange and the Belt and Road initiative focusing on infrastructure, the government and state media said after a meeting between Presidents Xi Jinping and Alberto Fernandez.
The leaders, who met behind the scenes at the Beijing Winter Olympics, agreed on the five-year plan for agricultural cooperation and identified key areas for growing and diversifying trade and investment in the sector.
China is a major buyer of Argentine soy and beef. It also has an important foreign exchange agreement with the country, which helps bolster its dwindling international reserves. Fernandez has found it difficult to revive the Argentine economy, which is a major grain producer.
The Argentine government said the two sides highlighted the importance of currency exchange between their central banks and agreed to continue strengthening cooperation.
The countries also signed a memorandum of understanding linked to a platform for Chinese investments in railways, ports and highways around the world.
“This strategic decision will allow the government to sign different agreements that guarantee financing for investments and works at a cost of more than 23.7 billion dollars”, said the Argentine government. The Chinese side did not release a number.
In a 40-minute meeting, Xi and Fernandez agreed to cooperate and invest in areas such as green and sustainable development, as well as the digital economy.
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