MercoPress. South Atlantic News Agency

Mondino seeking to soothe ties with China after Milei's campaign announcements

Mondino is aware that Argentina needs the currency swap with China extended despite Milei's tantrums

Argentine Foreign Minister Diana Mondino is on a crusade in China to discuss bilateral issues with an economic giant with whom President Javier Milei had pledged during his campaign that he wanted no ties. “Not only will I not do business with China, I will not do business with any communist,” Milei announced repeatedly on his way to Casa Rosada.

Mondino is to meet with her Chinese colleague Wang Yi and with businessmen from both countries to review the complementarity “evidenced in the high levels of commercial exchange.”

The Minister insisted on Argentina's “great opportunities to increase its export offer to the Chinese market” and told Argentine businessmen that they would “find great opportunities” in the Asian country.

The Chancellor met with Bagó Group Director and President of Argentina's Chamber of Commerce for Asia and the Pacific, Rallys Pliauzer; with Argentine businessmen and also with the president of Power Construction Corporation of China, Lindi Jiang, a construction and development group with more than 30 projects in the South American country.

Mondino's mission seeks to lower the political tension between the two countries while at the same time negotiating an extension to the currency swap worth some US$ 6 billion agreed upon under former President Alberto Fernández. The Minister's first trip to China since she took office coincides with the tenth anniversary of the comprehensive strategic partnership between the two countries. Argentina needs the swap extended to strengthen BCRA's reserves and also to pay some maturities with the International Monetary Fund, it was reported.

Traveling with Mondino were Central Bank (BCRA) President Santiago Bausili, and Finance Secretary Pablo Quirno, in addition to businessmen seeking to expand their activities. They have already participated in a trade promotion and investment attraction forum in Shanghai.

China's presence in Argentina has also been questioned during US Southern Command Chief General Laura Richardson's recent visit to the South American country, with a special focus on China's base in Bajada del Agrio, in the Province of Neuquén.

Mondino's trip will continue in Europe at a meeting of the Council of Ministers of the Organization for Economic Cooperation and Development (OECD), to be held in Paris on May 2 and 3 to further discuss Argentina's bid to join the group. She is then to travel to Brussels between May 5 and 6 for talks with European Union authorities. From there she is due in Lisbon on May 7 to hold meetings with her Portuguese counterpart, Paulo Rangel, President Marcelo Rebelo de Sousa, and Prime Minister Luis Montenegro.