MercoPress. South Atlantic News Agency

Massa holds meeting with Indian Ambassador in Buenos Aires

Massa and Bhatia discussed next month's meeting of G-20 economy ministers among other issues

Argentina's Economy Minister Sergio Massa Thursday met with India's Ambassador to Buenos Aires Dinesh Bhatia to discuss the South American country's participation in the G-20 economic meeting and move forward in the use of local currencies for bilateral trade.

India, one of Argentina's five main partners, is a member of the BRICS bloc and the encounter took place ahead of Massa's upcoming trip to fellow BRICS partner China to analyze similar issues.

India currently holds the presidency of the G-20 and the city of New Delhi will host the 18th Summit of Heads of State and Government on Sept. 9 and 10, due to which Economy Ministers of all members are to convene next month. Argentina is also a G-20 member.

“I welcomed the Ambassador of India @dineshbhatia, in view of Argentina's participation in the economic G-20 and to advance in an agreement for the use of local currencies in foreign trade between India and Argentina,” Massa wrote on Twitter.

Argentina's exports of crude and degummed soybean oil accounted for 80.2% of the South American country's total exports to India, with which it recorded last year a surplus of US$ 333 million (US$ 416 million in exports and US$ 83 million in imports).

Massa is also working on a high-profile visit to China in search of investments and financial support, during which he is expected to meet with local officials and businessmen in April, as the South American country needs good news ahead of the presidential elections. Massa will seek to lure Chinese investors in the mining, energy, automotive, and financial areas.