Argentina and China sign deals strengthening ties after G-20

05 December, 2018, 05:39 | Author: Mary Valdez
  • Trump, Xi Agree On Tariff Cease-Fire, As Trade Talks Continue

Xi, who met on Saturday in Buenos Aires with US President Donald Trump, with whom he is now in a tense trade battle, on Sunday emphasized together with Macri that the pacts signed between China and Argentina will give a "push to cooperation" between their two nations, Efe reported.

State-owned Russian reactor builder Rosatom said in a statement that the two countries had signed a "strategic document" confirming their partnership in nuclear energy at the G20 summit in Buenos Aires at the weekend.

The agreements signed between Argentina and China, summarised in several memoranda of understanding, include initiatives such as a joint five-year action plan running from 2019-2023, renewing the current one, and an agreement eliminating double taxation on profits and assets and preventing tax evasion.

Mentioning that Argentina's economy has experienced fluctuations this year, Xi said China will take concrete action to support the country's financial stability.

"We are extending cooperation on economic, agricultural, financial and infrastructure issues", Mr Xi told a press conference.

Argentina's central bank will be able to draw on these funds in an emergency.

The Xi-Macri face-to-face comes after U.S. officials said they had reached a 90-day truce in the trade dispute with China that has rattled financial markets and imperiled global economic growth.

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Chinese President Xi Jinping met with his Argentine counterpart Mauricio Macri here Sunday, and the two leaders agreed to jointly open up a new era of the comprehensive strategic partnership between their countries.

Argentina also granted Xi the top honor awarded to foreign politicians, and the Argentine polo association gave the Chinese leader a polo horse.

China supports Argentina in diversifying its energy sector and would like to work with the country to carry out its flagship energy projects, Xi said, adding that China would like to participate in the country's infrastructure projects and promote interconnectivity between Argentina and the rest of South America.

Photos released by the Presidency showed a smiling Xi petting the pony with one hand and holding the reins with the other.

Xi also congratulated Macri on the successful G20 summit, saying that the event was of great significance as it sent a strong signal on upholding multilateralism.

Xi congratulated Macri on a successful summit and said both of their nations believe the G-20 spirit of solidarity must prevail in "the firm defense of multilateralism and free trade to build an open global economy and foment the world's prosperity and stability".

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