As part of a broader South American tour, Russian President Vladimir Putin will be visiting Buenos Aires in July to lay the groundwork for joint projects between Russia and Argentina in the energy sector, including civilian nuclear technologies, military-technological cooperation and machine building.
Argentina is one of Russia's key partners in Latin America Putin last Friday as he presented in Moscow the credentials of 14 diplomats.
The Russian president said that during his visit to Buenos-Aires, he plans ”to discuss in detail the whole range of key issues on the bilateral and international agenda and lay the groundwork for joint mutually beneficial projects in energy, including civilian nuclear technologies, machine building and military-technological cooperation.
Putin will also visit Brazil where on 13 July he has been invited to watch the World Cup final at the Maracaná stadium. Russia will be hosting the next World Cup in 2018.
The Russian president will be also attending the VI BRICS summit to be hosted by Brazil in the city of Fortaleza July 15/17. The group which is made up of Brazil, Russia, China, India and South Africa, has also invited Argentine president Cristina Fernandez to participate in the summit, a previous step to a possible incorporation of South America' second largest economy to the group.
After over a decade of rapid development, BRICS countries have been exposed to increasing difficulties on both internal and external fronts, which has had an impact in economic growth.
Currently, the total foreign trade volume of the BRICS countries makes up 16% of the world total, while the trade volume between these countries is only 336 billion dollars, making up 1.5% of the world total, which suggests that the potential for economic cooperation among the BRICS countries is still great.