Through an Official Gazette, the Ministry of Foreign Affairs, International Trade and Worship, announced that the memorandum of understanding through which Argentina entered the Silk Road.
East agreement agreement signed with China on February 4, entered into force as of today. In this way , Argentina joins the 140 countries that are already adhered to the Silk Road around the world.
President Alberto Fernández approved during his visit to Beijing that Argentina enter the Silk Roadwith what In addition, financing for 23.7 billion dollars is obtained..
The understanding was signed between Fernández and his Chinese counterpart Xi Jinping, in the Great Hall of the People, within the framework of the international tour that the Argentine president made earlier this year.
What does it mean that Argentina enters the Silk Road
In addition to strengthening bilateral relations, this agreement allows Argentina to obtain financing for infrastructure, trade, agriculture and telecommunications.
Under this line, the parties undertake to “reinforce the promotion of actions that strengthen, innovate and diversify the economic relationship with concrete results to promote bilateral trade”.
This in order to “ensure a continuous commercial flow, as well as progress in sanitary and phytosanitary negotiations and make investments for the productive sector and for the development of technological capacities.”
In addition, China will support the country in its clean energy development process to make it “a balanced process towards energy transition by developing flexible and multi-form cooperation in clean energy.”
At the same time the deal establishes that the Asian country “will support the Argentine Republic in its objective of improving its export capacity and diversity” for which the parties will develop joint actions.
Likewise, the parties “will promote cooperation projects in connectivity infrastructure in areas of mutual interest, such as routes, railways, bridges, civil aviation, ports, energy and telecommunications, among others.”