Argentina seeks to expand trade with African countries

With African countries there is a marked complementarity of the economies, and as indicated by the Foreign Ministry, now seeks to expand and diversify existing trade with new opportunities in sectors where Argentina has high technological capacity, such as agribusiness, nuclear, satellite and radar development , energy and food companies, among others.

Africa as a whole currently represents around 7% of Argentina’s total trade with the world, with significant trade surpluses in favor of the country. In 2022 Argentina exported more than US$6.4 billionwith a favorable balance of more than US$4,660 million, surpluses that have increased in recent years.

Argentina and Africa have convergent positions, while they are part of the Global South. The association with that continent, seen from a strategic approach, is evident in multilateral forums, especially in financial matters, international trade, environmental negotiations, South-South Cooperation, and in shared spaces and interests in the South Atlantic (illegal fishing, piracy, peace and cooperation), among others.

For this reason, the Foreign Ministry is coordinating the next multisectoral trade missions to Africa, which will take place in Algeria (Algiers) June 4 and 5; Egypt (Cairo) June 7 and 8; South Africa (Johannesburg) June 19 and 20 and Angola (Luanda) on June 22 and 23.

What was discussed in Cape Verde?

During the meeting with his Cape Verdean counterpart and host of the VIII Ministerial Meeting of the Zone of Peace and Cooperation of the South Atlantic (ZPCAS), the Minister of Foreign Affairs, Cooperation and Regional Integration, Rui Alberto de Figueiredo Soares, Cafiero expressed Argentina’s intention -shared with Brazil- to resume the bi-regional dialogue mechanism South America-Africa (ASA)in order to encourage interaction between our regions and address issues of common interest on the global agenda, from our own point of view in the current complex international scenario.

Specifically, the joint economic agenda is focused on promoting agribusiness and agricultural technology. It is a market that offers opportunities for Argentine food, given its high dependence on imported food products. About a quarter of public investment goes into agriculture and water management.

Cafiero thanked Cape Verde for its support at the G77 plus China Summits and, in particular, at the South America-Africa (ASA) Summits, which have recognized Argentina’s legitimate rights in the Malvinas Question. In turn, the head of the San Martín Palace told him Argentina’s concern over a series of flights by British military aircraft detected in 2022 that took place between the Malvinas Islands and the United Kingdom using the Amílcar Cabral airport (GVAC), as an alternative to the Ascension Island airport, which operates on a limited basis due to refurbishment work.

Meeting with Nigerian diplomats

During his schedule in the Cape Verdean city of Mindelo, Cafiero also held a working meeting with Nigerian Foreign Minister Geoffrey Onyeamawith the purpose of intensifying bilateral ties and exploring the potential of our agro-industrial sector and technological cooperation.

Cafiero and Onyeama referred to the negotiations between the two countries for the future signing of a Memorandum of Understanding (MOU) on agricultural cooperationwhich will enable the association in rural development and the provision of agricultural machinery.

Also, due to the recent acquisition of two radars from the company INVAP to be located in NigeriaThey agreed to deepen said cooperation, which will also include the training of the personnel that will operate them. The first of these radars was delivered the first week of April 2023.

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The bilateral trade relationship in the technology sector also includes interest in converting gasoline vehicles to CNG, with the possibility of contributing to this project by providing goods and services that Argentina has to offer the Nigerian market.

Likewise, both officials referred to the tender won by the company Corporación América for the modernization of two international airports in Nigeria. It should be noted that the Argentine Republic has an embassy in Abuja, and Nigeria is one of the four Sub-Saharan African countries with an embassy in Buenos Aires.

In the meetings, Cafiero was accompanied by the Chief of Staff of the Foreign Ministry, Luciana Titusand by the Secretary of Malvinas, Antarctica and South Atlantic, William Carmona, as well as for him Argentine Ambassador to Ethiopia and the African Union, Gustavo Grippo.