Foreign Minister Mondino continues her official visit to China: Working meetings in Beijing with political and economic authorities

On the second day of her official visit to the People's Republic of China, Foreign Minister Diana Mondino held meetings in the city of Beijing with the Vice President of China, the Vice Minister of Commerce and International Trade Representative, and the President of the People's Bank of China, with a view to consolidating the bilateral relationship, strengthening dialogue mechanisms between both countries and increasing opportunities for reciprocal trade and investment.

First, the Foreign Minister was received by the Vice President of China, Han Zheng, who highlighted the 10th anniversary of the bilateral Strategic Partnership and the 52nd anniversary of diplomatic relations, which have strengthened the common agenda and mutually beneficial cooperation. In turn, Mondino referred to the reforms promoted by the Argentine Government and expressed Argentina's interest in evaluating the agreements on bilateral dialogue mechanisms to achieve tangible progress, assess the results achieved -especially in terms of economy and trade- and expand joint work in investment, energy and infrastructure, among other areas.

The officials agreed on the importance of deepening bilateral cooperation in various fields and laying the groundwork for strengthening relations between both countries. They also underscored the advantages offered by the complementarity between both economies. Vice President Han Zheng reaffirmed China's support for Argentina's position on the Question of the Malvinas Islands and Foreign Minister Mondino ratified Argentina's commitment to the "One China" principle.

Later, the Foreign Minister -joined by the Secretary for Finance, Pablo Quirno, and the Governor of the Central Bank, Santiago Bausili- held a meeting with the Vice Minister of Commerce and International Trade Representative of China, Wang Shouwen. Mondino stated that "bilateral relations with China are important for our country", considering that bilateral trade has grown steadily over the last two decades, and she explained the measures being taken by President Milei's Administration to free the productive forces and enable trade and investment facilitation, a scenario that represents a great opportunity for the companies of both countries, with a growing business environment.

Santiago Bausili described the positive results obtained so far, including a decline in inflation -which is expected to decrease further in the coming months- the increase in Central Bank reserves and the elimination of the fiscal deficit, which was replaced by a surplus. For his part, Pablo Quirno described the measures taken to reduce trade restrictions and currency controls.

Vice Minister Wang Shouwen welcomed the economic progress and the path taken by Argentina, and expressed his appreciation for the presentations that helped him gain first-hand knowledge of the economic and trade situation in Argentina. He recalled that China is the second-largest market of origin for Argentine imports and stated that he expects to continue receiving more imports from the agricultural and industrial sector.

Likewise, the Vice Minister conveyed his enthusiasm about the developments and prospects discussed, and said that the measures to achieve deregulation and macroeconomic stabilization will have a very positive impact on the promotion of Chinese investments in Argentina. As the meeting came to an end, he also expressed his desire to hold a new edition of the Joint Economic and Trade Commission, the last meeting of which was held in August 2022.

It should be noted that China was the third top destination for Argentine exports. In 2023, the country was the main buyer of Argentine beef (USD 1.732 billion) and soybean (USD 950 million). For 2024, numerous trade promotion activities are planned in China, involving companies from different sectors and regions of Argentina. There are many examples of the complementarity between both economies, including the fact that China is the main destination for exports from Catamarca, Chaco, Entre Ríos, Jujuy, and La Pampa.

Later, at the meeting with the President of the People's Bank of China, Pan Gongsheng, Mondino and Bausili discussed the historical ties between both Central Banks, which began with the signing of the first swap 25 years ago; Argentina's commitment to the internationalization of the RMB as a currency for trade-related payments; the identification of technical areas to complete the reviews provided for under the swap agreement; and the agreements on cooperation and exchange of technical and regulatory experiences.

At the end of the day, Mondino gave interviews to CGTN en Español and Global Times.

Tomorrow, Tuesday 30 April -the last day of the official visit to China- the Foreign Minister will meet with her Chinese counterpart, D. Wang Yi, and with the Vice Chair of the National Development and Reform Commission, D. Zhao Chenxin, and will participate in the Argentina - China Investment in Infrastructure for Development Forum.

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