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Panorama Internazionale

20 FEBBRAIO 2019

01:01 - Argentina

MACRI AND 100 BUSINESS LEADERS IN INDIA TO SIGN UP COMMERCIAL AGREEMENTS

(ICE) - ROMA, 20 FEB -

New Delhi and Buenos Aires are expected to sign up to 8 agreements in several fields such as defense, tourism, technology, education, culture, and pharmaceuticals during President Mauricio Macri’s 3-day state visit to India to promote trade, investment and cooperation. Macri is accompanied by several ministers, members of Congress and 100 business leaders.

Bilateral trade is currently worth USD 3 billion with the balance in favor of Argentina, whose main export is soybean oil and leather. The official expectation is based on the "growth" of Asian countries, such as India that in 2030 could be constituted, according to the trend, in the "most populous" country with 1.5 billion inhabitants and generating an effect in opening more imports. This trajectory of growth is going to be key for Argentina. The potential for Argentina lies in the growth of exports of food, services, hides, pulses, fruits, agricultural technology and yerba mate. There is also India's interest in wind energy and mining, which are the "areas of greatest interest" as well as the "opening up" of new markets with which it is already working on citrus and chia seeds.

According to ambassador Daniel Chuburu, Argentina is keen to pitch medium and small nuclear plants made by Argentina’s state-run INVAP, which has won a bid to build a nuclear plant in Holland and has constructed plants in Algeria, Egypt, and Australia, is keen to make a foray into the Indian market. “We are developing modular power plants called Carem. There will be talks in this regard and on other civilian uses of nuclear technology, such as irradiation of vegetables and medicine,” he said.

After India and Argentina signed a nuclear cooperation agreement in 2010, INVAP built a plant at BARC in Mumbai for mobilenium enrichment that produces isotopes for medicinal use. INVAP will also explore the possibility of working with India in radars for civilian, military and meteorological use and satellites. Argentina is interested in benefiting from India’s work on nano-satellites and its satellite launch program, he said.

Argentina, which has the world’s second largest lithium reserves, is eyeing the Indian market for lithium-ion batteries, especially in view of New Delhi's plans to ensure 30% of cars on the roads are electric vehicles by 2030.

(ICE BUENOS AIRES)