MercoPress. South Atlantic News Agency
Argentine FM holds meeting with Chinese envoy to soothe ties
Mondino and Wang dismissed press reports about alleged tensions between the governments of Xi Jinping and Javier Milei Argentine Foreign Minister Diana Mondino met Friday with Chinese Ambassador Wang Wei. During the encounter, both diplomats agreed on the importance of the Comprehensive Strategic Partnership signed between the two countries ten years ago, and reaffirmed the principle of one China in reference to Taiwan's separatism. However, there was no mention of the currency swap worth US$ 6.5 billion Argentina was expecting to receive.
“There is no doubt about the importance of the commercial exchange between both countries, being China the second Argentine commercial partner, the second destination of our exports, and the first origin of imports in the country,” Mondino said in a statement from her office issued after the gathering.
“On January 12, Ambassador Wang Wei held a meeting with Foreign Minister Mondino, in which both sides pledged to promote the constant development of the Comprehensive Strategic Partnership on the basis of the One China principle,” the Asian country's mission posted on X in Spanish.
Friday's encounter drew media attention after Mondino had allegedly talked with a Taiwanese envoy.
Mondino and Wang also dismissed recent press reports about alleged tensions between the governments of Xi Jinping and Javier Milei after the South American country declined the invitation to join the BRICS partnership as of Jan. 1 this year as agreed upon with the previous administration of Alberto Fernández. Mondino had also stressed that some agreements by the Fernández administration were not favorable for Argentina.
During Friday's talks, the two nations ratified their interest in strengthening the bilateral relationship and reactivating the existing cooperation mechanisms in addition to discussing Chinese financing for Argentina's infrastructure through the Belt and Road Initiative, which includes more than 140 countries, and from which Milei was also feared by Beijing to be withdrawing following his BRICS move.
“These financial cooperation mechanisms are very useful for Argentina as long as the financed projects serve national interests,” Mondino said. She and Wand also reviewed the projected reforms for the United Nations Security Council, of which China is a full member.
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Read all commentsSpeaking of swaps, Banco do Brasil suspended Letters of Credit for imports or exports coming or going to Argentina in yuan.
Jan 13th, 2024 - 03:04 pm 0Only Letters of Credit in dollars are being issued. Jobs will be lost here and there. And as there is no prospect of diplomatic improvement between us and them, it will be difficult for them to recover.
The focus is to direct lost trade to northern South America, Africa and India.
Can’t see Venezuela importing much, you need markets where they can pay for your goods with hard, i.e. tradable, currency.
Jan 13th, 2024 - 03:32 pm 0Talking of Venezuela, what is or should be, Brazil’s position on the Essequibo dispute?
Anyway Chinese money for loans, currency swaps and the belt and road initiative, is rapidly drying up as China faces a looming property market crisis, amongst other things.
The global south is going to have to get their expensive loans somewhere else for the foreseeable.
It is not good to infer or interfere in business that does not concern us. Essequibo is one of them.
Jan 13th, 2024 - 03:46 pm 0However, I personally believe that some financial or territorial compensation is up to Venezuela. It's my opinion.
Regarding trade with Argentina, it is clear that the levels observed until recently will not be maintained. Therefore, it will be necessary for our diplomacy and entrepreneurship to seek to leverage business elsewhere. As an example, we can list the automotive trade, signing agreements with South Africa, Angola and Colombia for the purchase of auto parts and cars with competitive advantages and which open other business doors. I think that would be ideal at the moment.
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