MercoPress. South Atlantic News Agency

Argentine President arrives in China

President Fernández (R) was greeted by Chinese officials upon arriving in Shanghai

Argentine President Alberto Fernández landed in Shanghai during the weekend on a Chinese tour during which he is to meet with his local colleague Xi Jinping as well as with New Development Bank (NBD - also known as the BRICS bank) CEO Dilma Rousseff.

While in Shanghai, Fernandez met with executives of the technological company Gotion, manufacturers of lithium batteries for cars, buses, and bicycles. The encounter took place in a relaxed atmosphere at the “Baldomir” restaurant, which serves Argentine food.

Gotion's Argentine branch has cooperation agreements with Jujuy mining company Jemse to develop the Cauchari-Olaroz lithium project, which involves lithium extraction and its subsequent refining in a plant to be built in the Perico duty-free trade zone.

Fernández is also scheduled to talk with Rousseff before traveling to Beijing to take part in the III Forum of the Belt and Road International Cooperation, at Xi Jinping's invitation.

Fernández's agenda includes other gatherings with Chinese investors interested in Argentina, with a focus on “promoting the development of electromobility, the industrialization of lithium and renewable energies,” according to Casa Rosada sources.

The South American leader was to meet with executives of the mining company CST, after which he was due at the Huawei Technology Center, it was reported.
Fernández will also receive executives from the mining company Tsingshan, and from Tibet Summit, a company dedicated to geological exploitation.

On Tuesday, Fernandez will meet with former Brazilian President Rousseff to reaffirm Argentina's commitment to the BRICS, originally by Brazil, Russia, India, and China, with South Africa joining shortly afterward. At the group's summit this year in Johannesburg, it was agreed that Argentina, Egypt, Ethiopia, Saudi Arabia, Iran, and the United Arab Emirates would be welcome as new members, effective Jan. 1, 2024. The bloc represents 36% of the world's GDP and 46% of the world's population.

Later on, President Fernández will travel to Beijing to participate in the “High-Quality Belt and Road Cooperation: Together for Common Development and Prosperity” Forum, which will deal with issues such as “Connectivity in an Open Global Economy”, “Green Silk Road for Harmony with Nature,” and “Digital Economy as a New Source of Growth.” The event will be attended by heads of state and high-ranking officials from over 110 countries.

Fernández's trip to Beijing will also allow both countries to announce the expansion of their monetary agreements, following recent currency swaps that strengthened the South American nation's reserves.

”The central banks of the two countries have a parallel work agenda. On this occasion, they will activate the Memorandum of Understanding (MOU), which has four areas of action: Economic Research, International, Superintendence, and Operations, where the management of the 'swap' is included,“ an official statement read.

The incumbent head of state was also quoted by Xinhua as saying that joining the Belt and Road Initiative ”favors the development of Argentina and is a paradigm of multilateralism.“

”When we signed our entry into the Belt and Road, we did it precisely with the idea of achieving a deeper, more strategic agreement with China,” highlighted Fernández.