Argentina: exports to China to hit US$4B in five years

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Argentina: exports to China to hit US$4B in five years

The Argentine Government forecasts the exports to China could reach US$4 billion in the next five years, through trade promotions and the removal of restrictions, website reported.

The announcement follows three agricultural deals recently signed in Beijing, including a citrus agreement for southern ports, a meat and meat-related product protocol, and a wine cooperation agreement.

Argentina's Ministry of Foreign Affairs said increased exports would help improve the country's bilateral trade deficit with the Asian country, the story reported.

Argentina has also received a direct agricultural commercialization proposal from China to avoid intermediary costs, involving companies like Cofco, Sinograin Oils Corporation, and Chinatex Corporation.

From 2000 to 2010, annual trade between the two countries rose from US$2.1 billion to US$13.785 million.

Related story: Argentina and China sign new ag agreements

Photo: Flickr, Philip Jägenstedt

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